Alibaba's Ma: 1 mil. USA jobs pledge thwarted by trade row

The Latest: Sec. Ross: Americans won't feel trade-war sting

Of course, such a strategy could entail short-term strain on those companies' sales and profits from China.

The timing of the cut would suggest the tariff tool is being used as a tactic in the trade war, taking into account both domestic and global considerations.

On Tuesday, Beijing added $60 billion of U.S. products to its import tariff list in retaliation for U.S. President Donald Trump's planned levies on $200 billion of Chinese goods.

The Trump administration announced a finalized list of $200 billion worth of tariffs on Chinese goods September 17.

China, trying to lower the temperature, is keeping its tariffs on USA goods down to 5 percent for the moment, but it can't hold that line forever if the United States goes on ratcheting up the ones it has imposed on China.

Some analysts and American businesses are now concerned China could resort to other means of retaliation such as pressuring US companies operating in China.

And that comes along with the fact that the U.S.is now the world's largest producer of oil, meaning oil is no longer a factor in the trade deficit, he said.

The Latest: Sec. Ross: Americans won't feel trade-war sting

"After a thorough study, the USTR concluded that China is engaged in numerous unfair policies and practices relating to United States technology and intellectual property - such as forcing United States companies to transfer technology to Chinese counterparts", he said.

"China are out of bullets". Today's tariffs, said former US trade official Holleyman, "may become the new normal".

"Their economy is export-led, they can't afford for it to go out of control", he told Reuters. Chad Bown, Euijin Jung, and Zhiyao Lu of the Peterson Institute for International Economics found that 24% of the goods that will be hit with Monday's tariffs are consumer goods. The MFN rule requires all countries to be treated equally unless specific exceptions are agreed, and the U.S.is also covered by MFN status.

This nonsense is going to go on for a long time, and everybody will end up at least slightly poorer, but it probably won't bring on the Second Great Recession.

The move was in line with Beijing's pledge to its trading partners - including the United States - that it would take measures to further increase imports.

"To deal with the trade war, what China really should do is to focus on doing its own thing well", said the newspaper, which is published by the ruling Communist Party.

"As the largest retailer in the U.S. and a major buyer of U.S. manufactured goods, we are very concerned about the impacts these tariffs would have on our business, our customers, our suppliers and the U.S. economy as a whole", Walmart wrote to U.S. Trade Representative Robert Lighthizer about two weeks ago, according to a report by Yahoo Finance on Friday.

Related news:

Hot News

isis-killer-beheading-video-story-top Labour set to back public vote on Brexit
Sep 25, 2018 - 03:27
Jeremy Corbyn will back a second Brexit referendum if Labour members vote for one during this week's party conference. Liverpool is a Labour heartland and voted overwhelming for Corbyn's part in the general election a year ago .

isis-killer-beheading-video-story-top 49ers fear ACL injury for Jimmy Garoppolo
Sep 25, 2018 - 02:29
Jimmy Garoppolo left Sunday's game against the Chiefs on a cart after injuring his knee during a scramble in the fourth quarter. One of the NFL's most dynamic atmospheres welcomed what could now be the league's most dynamic player.

isis-killer-beheading-video-story-top Kavanaugh: I won't be intimidated into withdrawing nomination
Sep 25, 2018 - 02:03
General Assembly, calling the allegations against his nominee for a lifetime post on the top US court politically motivated. As he builds a case for his innocence, Kavanaugh plans to turn over to the committee calendars from the summer of 1982.

isis-killer-beheading-video-story-top Rod Rosenstein talked about secretly recording Trump in midst of chaos
Sep 24, 2018 - 20:43
US President Donald Trump campaigns in Missouri on Friday, promising to root out the "stench at the Justice Department". The Times also said Rosenstein raised the idea of using the 25th Amendment to remove Trump as unfit for office.

isis-killer-beheading-video-story-top US Supreme Court nominee Brett Kavanaugh faces fresh allegation
Sep 24, 2018 - 20:14
Tom Cotton of Arkansas echoed Graham, saying it was time to "end the character assassination" against Kavanaugh. Per Ramirez, she said she can still remember him standing beside her and pulling up his trousers .

isis-killer-beheading-video-story-top Golf Fans Rejoice As Tiger Woods Ends Drought, Wins Tour Championship
Sep 24, 2018 - 20:10
The win is the culmination of an impressive comeback season for Woods, who looks to be a threat at the majors again in 2019 . He won even if he did not quite win the FedEx Cup, the four-tournament aggregate event that went to Rose.

isis-killer-beheading-video-story-top Patriots TE Rob Gronkowski almost traded to Lions, threatened to retire
Sep 24, 2018 - 19:55
Tom Brady completed 14 of 26 passes for 133 yards, one touchdown and one interception for the Patriots (1-2). The tight end, his agent and Bill Belichick all had a meeting at the end of April to try to clear the air.

isis-killer-beheading-video-story-top Sarri: I don’t know why West Ham lost four matches
Sep 24, 2018 - 19:32
That's why I was a bit frustrated and disappointed to be substituted, but the coach made his choice and you have to respect it. West Ham have improved in recent weeks, after picking up four points from their last two games.

isis-killer-beheading-video-story-top Deputy Attorney General Rod Rosenstein reportedly resigns
Sep 24, 2018 - 19:15
But let me clear about this: Based on my personal dealings with the president, there is no basis to invoke the 25th Amendment". Either way, Rosenstein is out of a job, which could jeopardise the Robert Mueller's Russian Federation investigation.

isis-killer-beheading-video-story-top Oil steady as Trump tweet slows surge upwards
Sep 23, 2018 - 18:59
The VanEck Vectors Oil Services ETF (NYSEAMERICAN: OIH) traded up about 1.7% to $24.81, in a 52-week range of $22.73 to $29.87. A year ago at this time, a gallon of regular gasoline cost $2.615 on average in the United States.

isis-killer-beheading-video-story-top Lichtsteiner ‘hungry’ to return Arsenal to Champions League
Sep 23, 2018 - 17:52
Instead, they will be playing in the Europa League , starting on Thursday night against PAOK in Greece. The coach has already admitted that Bernd Leno will get his debut tonight.

isis-killer-beheading-video-story-top Hazard left out of Chelsea squad for Europa League trip to PAOK
Sep 23, 2018 - 15:06
They lost against West Ham and they want to show us, to show their supporters, that they can win here. West Ham have a number of absentees on the long term treatment table.

isis-killer-beheading-video-story-top Hollande fuels Rafale scam; Modi under pressure to quit
Sep 23, 2018 - 14:42
He pointed out that Hollannde who is not in office any longer was under no serious political compulsion to make the remarks. You betrayed India's soul". "He has dishonoured the blood of our soldiers", Congress president Rahul Gandhi tweeted.

isis-killer-beheading-video-story-top Manchester United still in for hard season despite good form Jose Mourinho
Sep 23, 2018 - 14:28
The World Cup victor can flit in and out of games and today was no different - but his contribution for Fred's goal was special. It's more about the moment and the momentum, like you like to call it, is very important in the positive and negative way".

isis-killer-beheading-video-story-top Hunt for shark after two attacks
Sep 22, 2018 - 16:28
WHEN Bobby Macdonald responded to a mayday call late yesterday afternoon, he did not expect to be faced with a shark attack. A rescue helicopter which scrambled to pick her up was just 15 minutes away from the scene due to an earlier operation.