China Imposes Tariffs on $60 Billion in US Exports
Tuesday, 14 May 2019 08:09 WIB | GLOBAL |Global

China says it is imposing tariffs on $60 billion worth of imports from the United States, retaliating after President Donald Trump boosted taxes on $200 billion worth of Chinese goods sent to the United States and moved to impose duties on another $300 billion of Chinese exports.

The Chinese finance ministry said Monday its new 5% to 25% tax would be imposed June 1 and affect 5,140 U.S. products exported to China. Beijing said its response was targeting "U.S. unilateralism and trade protectionism."

"China will never succumb to foreign pressure," the foreign ministry said.

"We are determined and capable of safeguarding our legitimate rights and interests. We still hope that the U.S. will meet us half way."

The new Chinese taxes came hours after Trump, on Twitter, urged China not to strike back, claiming "China has taken so advantage of the U.S. for so many years, that they are way ahead (Our Presidents did not do the job). Therefore, China should not retaliate-will only get worse!"

The escalation of the tit-for-tat tariff increases had an immediate effect on the U.S. stock market, with the key Dow Jones Industrial Average plunging nearly 2.4% by the close of trading Monday in New York.

The Chinese decision to retaliate with tariffs came after the world's two biggest economies ended their latest trade talks Friday in Washington without reaching a deal.

Source : VOA

RELATED NEWS

Xinhua: China to Lift Tariffs on US Soybeans, Other Farm Goods
Saturday, 14 September 2019 02:18 WIB

China says it will lift tariffs on U.S. soybeans, pork and some other farm goods in yet another sign of easing tensions between the two countries ahead of trade talks scheduled for next month. The announcement, reported Friday by China's Xinhua news agency, is the latest in a series of recent conci...

Did Boris Johnson Lie to the Queen?
Friday, 13 September 2019 18:10 WIB

Britain™s Prime Minister Boris Johnson flatly denied Thursday that he lied to Britain™s monarch when asking Queen Elizabeth to suspend parliament for five weeks in the run-up to a Brexit deadline ” a controversial suspension that™s being challenged in the country™s courts and drawing reluc...

Saudi Princess Found Guilty of Having Worker Beaten in France
Friday, 13 September 2019 11:12 WIB

The sister of Saudi Crown Prince Mohammed bin Salman has been found guilty in France of having a plumber beaten and held captive in her Paris apartment. Princess Hassa bint Salman, who was tried in absentia, was given a 10-month suspended sentence Thursday and fined $11,000 on charges of armed viol...

China Considering US Agricultural Purchases as Trade Rivals Exchange Good Will
Friday, 13 September 2019 02:29 WIB

China on Thursday extended the latest gesture of goodwill in its trade dispute with the United States, as the world's two largest economies prepare for high-level trade talks. Chinese Commerce Ministry spokesman Gao Feng said China was looking into purchasing U.S. agricultural goods such as pork an...

Trump Postponing Tariffs on China as a 'Good Will' Gesture
Thursday, 12 September 2019 17:43 WIB

President Donald Trump is postponing tariffs on $250 billion in Chinese goods as a œgesture of good will. Trump made the announcement in a late Wednesday tweet, saying Chinese Vice Premier Liu He asked for the delay in time for the People™s Republic of China™s 70th anniversary Oct. 1. The...

ANOTHER NEWS
Hong Kong Shares End Week With Sharp Gains
Saturday, 14 September 2019 03:26 WIB Hong Kong stocks finished Friday with a flourish as investors were cheered by easing tensions in the China-US trade row while also betting on another interest rate cut by the Federal Reserve next week. The Hang Seng Index jumped 0.98 percent, or...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.