English हिन्दी
Connect with us

Latest world news

US-China trade war hots up, Trump orders steep tariff hike on remaining imports from China

Published

on

US-China trade war hots up, Trump orders steep tariff hike on remaining imports from China

[vc_row][vc_column][vc_column_text]The trade war between United States and China turned hotter as the American President Donald Trump on Friday, May 10, ordered a tariff hike on almost all remaining imports from the world’s second-biggest economy.

Beijing said talks would continue to resolve the row, said reports.

Trump’s move came after he had been tweeting that two days of trade talks in Washington had been “candid and constructive.” The businessman-turned-politician then changed tack and followed through on a threat he had been making for months, reported news agency AFP.

“The President… ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300 billion,” US Trade Representative Robert Lighthizer said in a statement, the report said.

The move came less than 24 hours after Washington increased punitive duties on $200 billion worth of Chinese imports, raising them to 25 percent from 10 percent.

Details on the process for public notice and comment will be posted Monday, ahead of a final decision on the new tariffs, Lighthizer said. They were not expected to go into effect for several months, said the AFP report.

Also Read: Islamic State affiliated terrorist gunned down by security forces in J&K

The latest Trump move came as the Chinese Vice Premier concluded his two days of trade talks with the US team led by Lighthizer.

In a series of tweets, Trump described the talks as candid and constructive, but indicated taking a tough approach against massive imbalance of trade with China.

“Over the course of the past two days, the United States and China have held candid and constructive conversations on the status of the trade relationship between both countries,” he said.

“The relationship between President Xi and myself remains a very strong one, and conversations into the future will continue,” he added.

“In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!” Trump said.

Tariffs will bring in “far more” wealth to the United States than even a phenomenal deal of the traditional kind. “Also, much easier & quicker to do. Our Farmers will do better, faster, and starving nations can now be helped. Waivers on some products will be granted, or go to new source!” he said in another tweet.

“If we bought 15 Billion Dollars of Agriculture from our Farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else. China would greatly slow down, and we would automatically speed up!” Trump said.

Referring to his latest direction, Trump said that the process has begun to place additional Tariffs at 25 percent on the remaining 325 Billion Dollars. “The US only sells China approximately 100 Billion Dollars of goods and products, a very big imbalance,” he said.

“With the over 100 Billion Dollars in Tariffs that we take in, we will buy agricultural products from our Great Farmers, in larger amounts than China ever did, and ship it to poor & starving countries in the form of humanitarian assistance. In the meantime, we will continue to negotiate with China in the hopes that they do not again try to redo deal!” said the US President.

Also Read: After TIME article on Modi, its author’s Wikipedia page vandalised

Trump said he is in no rush to conclude trade talks with China.

“Talks with China continue in a very congenial manner – there is absolutely no need to rush – as Tariffs are NOW being paid to the United States by China of 25 percent on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S….,” he said.

“We have lost 500 Billion Dollars a year, for many years, on Crazy Trade with China. NO MORE!” Trump said.

Since last year the United States and China have exchanged tariffs on more than $360 billion in two-way trade, gutting US agricultural exports to China and weighing on both countries’ manufacturing sectors.

The higher duty rates imposed on Friday will hit a vast array of Chinese-made electrical equipment, machinery, auto parts and furniture.

The International Monetary Fund has warned the conflict and the loss of confidence it creates will have a wider impact on the global economy and is a major risk to growth.

[/vc_column_text][/vc_column][/vc_row]

Latest world news

Putin praises PM Modi, says he has very good ideas on Ukraine war

Russian President Vladimir Putin has praised Prime Minister Narendra Modi for repeatedly raising the need to end the Ukraine war, describing his ideas for a settlement as “very good”.

Published

on

Vladimir Putin

Russian President Vladimir Putin has praised Prime Minister Narendra Modi for his continued efforts to promote an end to the Russia-Ukraine war, saying the Indian leader has “very good ideas” aimed at finding a mutually acceptable solution.

Putin made the remarks while addressing the Valdai Forum of international Russia experts, where he spoke about Modi’s repeated efforts to raise the issue of ending the conflict.

What Putin said about PM Modi

Putin said Modi has continued to raise the question of ending the conflict despite the close and friendly relationship between India and Russia.

According to Putin, the Prime Minister has shown a strong interest in finding a solution and has ideas that could help identify mutually acceptable ways to resolve the conflict.

Putin also described India’s position as neutral while highlighting Modi’s interest in bringing the conflict to an end through peaceful means.

The Russian president expressed gratitude to Modi for his ideas and his desire to see the conflict end as soon as possible.

Modi’s position on the Ukraine war

PM Modi has repeatedly called for dialogue and diplomacy to resolve conflicts, including during his meetings with Putin.

During their September 11 meeting in New Delhi, Modi reiterated that dialogue and diplomacy are the way forward for resolving conflicts.

Modi had also told Putin during their meeting on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek that the situation needed to move from “endless war” towards an end to the war.

India has consistently maintained that conflicts should be addressed through dialogue and peaceful means, with Modi previously describing the present period as not being an era of war.

The Russia-Ukraine conflict began in February 2022 and has continued despite repeated diplomatic efforts to seek a resolution.

Continue Reading

Latest world news

S Jaishankar calls Pakistan a “serial practitioner of terrorism” at UN

S Jaishankar criticised Pakistan at the UN General Assembly, referring to a “serial practitioner of terrorism” and warning against attempts to normalise terrorism.

Published

on

S Jayshankar

External Affairs Minister S Jaishankar criticised Pakistan during his address to the 81st session of the United Nations General Assembly in New York, saying that a “serial practitioner of terrorism” had misrepresented facts and that arguments were being made to normalise terrorism. 

Jaishankar’s remarks came a day after Pakistan Prime Minister Shehbaz Sharif addressed the UN General Assembly and spoke about the 2025 military confrontation between India and Pakistan.

Jaishankar’s message to Pakistan

Referring to Pakistan without naming it directly in that remark, Jaishankar said a “serial practitioner of terrorism” had misrepresented facts before the UN General Assembly.

He said arguments were being made to normalise terrorism and claim immunity from its consequences, adding that such an approach would not stand. 

Jaishankar reiterated India’s position that the country would exercise its right to defend itself against terrorism.

He also said that friendship and goodwill could not coexist with terrorism and that understandings based on such circumstances would naturally be called into question. 

“It is for the perpetrator of terrorism to mend its ways,” Jaishankar said.

India stresses zero tolerance on terrorism

Jaishankar described terrorism as a persistent threat to peace and called for governments involved in cross-border terrorism to be held accountable.

He also stressed that there should be no dilution in India’s zero-tolerance approach towards terrorism and particularly called for greater attention to its financial aspects.

His remarks came a day after Pakistan Prime Minister Shehbaz Sharif referred to the 2025 India-Pakistan military confrontation during his UN General Assembly address. 

Jaishankar backs two-state solution for Palestine

During his UN address, Jaishankar also spoke about the situation in West Asia and said India was prepared to contribute to efforts addressing food and energy security amid continuing tensions and violence.

On the Palestine issue, he reiterated India’s longstanding support for a two-state solution.

Jaishankar said India was also contributing humanitarian assistance and relief efforts for the Palestinian people.

He also warned about continuing threats and pressures around the world and stressed the need for greater stability, security and predictability.

Continue Reading

Latest world news

Trump rejects Iran’s 7-day peace plan, says deal can come after US polls

US President Donald Trump rejected Iran’s seven-day proposal to end hostilities and indicated that a deal could come after the US midterm elections in November.

Published

on

Donald Trump

US President Donald Trump has rejected Iran’s latest proposal aimed at bringing an end to the ongoing conflict, while indicating that a possible agreement could come after the US midterm elections in November.

Iran had proposed a seven-day framework under which hostilities could be brought to an end, the Strait of Hormuz could be reopened and negotiations over its nuclear programme could resume.

Iran’s seven-day proposal

Iranian Foreign Minister Abbas Araghchi said Tehran had put forward the proposal through intermediaries. Under the plan, the Strait of Hormuz would be reopened by the end of the seventh day if specified conditions were met, while broader nuclear discussions would restart.

The proposal was based largely on an earlier understanding reached between Washington and Tehran, but Iran sought to implement the latest framework much faster. The earlier arrangement had provided a longer period for negotiations.

The Strait of Hormuz is a strategically important waterway for global energy shipments, making its reopening a key element of any effort to ease the wider conflict.

Trump points to US midterm elections

Trump, speaking at the United Nations, showed no indication that he was ready to immediately resume negotiations on the terms proposed by Tehran.

He called for the economic isolation of Iran and said he believed a deal could be reached after the US midterm elections in November. Trump also said Iran was waiting to see how he performed in the midterm elections.

The remarks came as Iranian officials signalled that they remained open to diplomacy and described the UN General Assembly as an opportunity to revive negotiations.

Nuclear talks remain part of Iran proposal

Iran’s latest plan links the easing of hostilities with the resumption of negotiations over its nuclear programme.

The proposal follows the collapse of an earlier US-Iran arrangement. According to reporting on the latest proposal, the new framework is intended to compress the timeline for implementing commitments that had previously been discussed by the two sides.

For now, Trump’s remarks indicate that Washington is not accepting Tehran’s seven-day framework as presented, while Iran continues to put diplomacy and negotiations forward as part of its proposal.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com