China's July exports rise more than expected despite USA tariffs

A Chinese worker looks on as a cargo ship is loaded at a port in Qingdao Shandong Province

China said it will begin imposing 25 per cent duties on an additional US$16 billion of American goods immediately after USA levies take effect, making good on its pledge to retaliate in kind.

March 22:Trump announces plans to hit$50 billion worth of Chinese goods with a 25% tariff.China announces tariffsin retaliation to the steel and aluminum duties and promises a response to the latest USA announcement.

The US will begin imposing 25% duties on an additional $16 billion in Chinese imports in two weeks, escalating a trade war between the world's two biggest economies.

The Chinese counter-move will take effect immediately after the U.S. imposes tariffs on the same amount of Chinese goods on 23 August.

So far, China has now either imposed or proposed tariffs on $110 billion of US goods, representing the vast majority of its annual imports of American products. Chinese data on Wednesday showed exports to the USA rose 13.3% in July to $41.5 billion against a year ago.

For its part, China has threatened to ratchet up the tit-for-tat trade war by slapping tariffs on another $60bn of American imports. US President Donald Trump accused Beijing of "being vicious" on trade, stressing that Chinese measures were targeting US farmers on objective. China responded by promising to hit $60 billion worth of United States goods coming into the country with tariffs. At the same time, China has lowered its tariff on Canadian lobster imports to 7 percent, making them more attractive to Chinese buyers.

Smash Ultimate Gets New Modes "Squad Strike" and "Smashdown"
A GameCube controller has been the preferred input for pro-level and diehard Smash Bros . players ever since Super Smash Bros . Meanwhile, " Monster Hunter's " fearsome Rathalos will be joining the game as a series-first boss and Assist Trophy .

Spanish Eurofighter accidentally fires missile in Estonia near Russian Federation
Spanish jets have done five of the three-month air-policing tours, leading them in 2006 and 2016 and taking part in 2015 and 2017. According to UK's The Telegraph, Spain's Defence Ministry was investigating the cause of the misfire.

Prepare for $90 oil after sanctions against Iran take effect
Ultimately, I think this market will continue to be very noisy, as the geopolitical issues continue to push oil markets around. The sanctions will remove one million barrels of Iranian oil per day from global markets, French Societe Generale estimated.

The tariffs are aimed at industrial, rather than consumer, imports.

China, however, would run out of US imports to levy, as it bought only $130 billion worth of American goods a year ago.

China's exports to the United States rose 13.3 percent in the first seven months of 2018 from a year earlier, compared with a 13.5 percent rise in Jan-June.

The US is also considering further tariffs on another $200bn worth of Chinese goods which could come into effect in September.

"We have made the case to the administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America's chipmakers, not China's, and will do nothing to stop China's problematic and discriminatory trade practices", SIA President John Neuffer said in a statement.

A US-China trade war will reduce global output by 0.7 percent by 2020, with China's economy taking a 1.3 percent hit and US GDP dropping 1 percent, Oxford Economics said in a research note Tuesday, before the new list was released.

Related News:

  • Samsung sends 4TB QLC SSDs into mass production

    Samsung sends 4TB QLC SSDs into mass production

    A new round of NAND flash production at Samsung could finally make SSDs in the multi-terabyte range affordable and mainstream. Pricing and release information wasn't mentioned in today's announcement, but we'll keep our ears to the ground for more.
    F1 legend Niki Lauda has emergency lung transplant at 69

    F1 legend Niki Lauda has emergency lung transplant at 69

    But knowing Niki , I'm sure he will soon be telling every nurse and doctor that he has had enough of the hospital", Wolff said. On Monday, the hospital in which Lauda is now recovering issued a statement to provide a brief update.
    Alvarez KO’s Kovalev to win 175-pound title in AC

    Alvarez KO’s Kovalev to win 175-pound title in AC

    It wasn't until the fourth round when Kovalev tried to exert his power, landing several hard punches that tested Alvarez's chin. Kovalev was taken to a hospital. "I'm more experienced, and I'm more mature", Kovalev said of his progress since then.
  • Iran sanctions: U.S.  can't stop our oil exports, says minister

    Iran sanctions: U.S. can't stop our oil exports, says minister

    "It's good for the country, good for them, good for us and good for the world". "The Iran sanctions have officially been cast". That's because the EU is trying to protect European businesses that are trading in Iran from facing USA sanctions.
    Oscars to shorten run-time, add popular film category

    Oscars to shorten run-time, add popular film category

    It's not clear when the new award category will be rolled out. - We're planning a more globally accessible, three-hour telecast. Specific categories will be determined at a later date, but the winning moments will be edited and aired in a later broadcast.
    Carrie Underwood Expecting Second Baby, Bringing World Tour To Pittsburgh

    Carrie Underwood Expecting Second Baby, Bringing World Tour To Pittsburgh

    Underwood is known for her songs " Cry Pretty ", "Cowboy Casanova", "See You Again", "Before He Cheats", and "All-American Girl". The 2005 " American Idol " victor also is scheduled to perform on October 5, 2019, at the Wells Fargo Center in Philadelphia.
  • Google Pixel 3 XL Clearly White leaks in new unboxing video

    Google Pixel 3 XL Clearly White leaks in new unboxing video

    The back of the phone looks similar to that of the Pixel 2 XL though, with a metal and glass cover and a single-lens camera. In additional photos, we can see that Google will apparently be changing the color of the power button this time around.
    Subtropical Storm Debby forms in north Atlantic

    Subtropical Storm Debby forms in north Atlantic

    Combined with high tides, this could lead to some overwash of low-lying coastal areas and perhaps some beach erosion. Meanwhile, Hurricane Hector is also swirling in the Pacific as an impressively organized Category 4 hurricane.
    Snapchat stock pops despite drop of 3 million users

    Snapchat stock pops despite drop of 3 million users

    Last quarter, its stock dropped by as much as 24% after releasing its Q1 earnings report. The Average Revenue per User is a full ten cents above estimate, at $1.40.
  • Tesla’s Board Has Met Several Times to Discuss Going-Private Proposal

    Tesla’s Board Has Met Several Times to Discuss Going-Private Proposal

    Rather, it was attributed to Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch. Tesla's other board members are Musk, his brother Kimbal Musk and venture capitalist Steve Jurvetson.
    Leon Bailey confirms transfer interest in him amid Chelsea, Liverpool links

    Leon Bailey confirms transfer interest in him amid Chelsea, Liverpool links

    He is a great player and will probably leave one day for a high fee, but I wish him to stay with us for a long time". Asked specifically abut the three clubs, Bailey told Kicker: 'there's concrete interest .
    Man of the moment Mo'unga no guarantee of All Blacks start

    Man of the moment Mo'unga no guarantee of All Blacks start

    Scott Barrett's late try sealed the Lions fate and underlined just how hard it is nowadays for sides to win in New Zealand. A man down, they produced a magnificent team try, finished by lock Scott Barrett, to finally crush the Lions resistance.

Most liked

Fallout 76 won't be launching on Steam
It was previously announced that expansion DLC for the game will be free, but there will be paid cosmetic items. Bethesda just offered a bit more incentive for players to try out Fallout 76's B.E.T.A. this October.

Rand Paul says he delivered Trump letter to Putin
Trump supporter Arthur Schaper said that he didn't take it personally when Trump blamed the USA for interference. Facing public pressure, including criticism from some Republicans, Trump later said he misspoke.

Wolves closing in on a club-record deal for Adama Traore
He said: "We did offer Adama a contract and a very, very good contract but he wants to stretch himself". He said: "They had two corners and scored from them to go 2-0 up and we're chasing the game".

Kim Kardashian Reveals Chicago and Saint are 'Inseparable' With Heartwarming New Pic
The 37-year-old added that she has chose to give Chi, pronounced "shy", a middle name, which Kanye apparently hates. So I unofficially instagrammed Chi Noel and I was like I'm doing this because I want her middle name to be Noel".

Hiroshima marks 73rd anniversary of atomic bombing in World War II
The nuclear bomb weighed 4,400kg, measured about 3 metres long and was dropped at 8.15 am on August 6, 1945. Tens of thousands of people gathered to honour the victims at an annual memorial ceremony held in the city.

May still believes Britain will win a good Brexit deal - spokesman
The prospect of a hard Brexit increases uncertainty for United Kingdom businesses and is likely to continue pressuring sterling. The saga over Brexit has come to dictate the pound's fortunes as fears mount about the impact it would have on Britain's trade.

James Anderson Takes Nasty Blow on Face While Playing Golf
England will hope that Anderson's swing works better in the second Test at Lord's starting on Thursday. It was surely a hilarious moment for Stuart who recorded the whole incident.

Perseid meteor shower promises spectacular show
Earth passes through the path of Swift-Tuttle's debris from July 17 to August 24, with the peak coming August 11-13. The Perseid Meteor Shower is back and the 2018 edition could be a banner event as we learn on Looking Up this week.

NY congressman charged with insider trading
The GOP congressman reportedly surrendered to federal agents in Manhattan on Wednesday morning. The defendants have also been charged with counts of wire fraud and false statements .

New Speculation On Setting For Jon Favreau's Star Wars TV Series
According to The New York Times , a new Star Wars live-action series is being created for Disney's streaming service. The strategy is bound to be short-lived though, with Disney readying the service to challenge Netflix at every turn.

Twitter CEO: Alex Jones 'hasn’t violated our rules'
Further in Dorsey's thread, he said it was up to journalists to "document, validate, and refute" claims like Jones'. Dorsey then went on to say that it was the job of reporters to shoot down any false assertions made by Jones.

Ola launches service in United Kingdom to take on Uber globally
After years spent fighting Uber on its home ground in India, Ola is taking the fight into its rival's core markets. Ola now operates in seven major cities in Australia , with its network comprising more than 40,000 drivers.

Chris Pratt’s Cowboy Ninja Viking Movie Delayed Indefinitely
As for her future films, Priyanka has The Sky is Pink and Hollywood film Isn't it Romantic in her kitty. Universal said it will be re-dated at a later time to accommodate production scheduling.

Joe Hart breaks Manchester City stay to sign for Burnley
However, a series of high-profile errors prior to the arrival of Pep Guardiola meant that his place at the club has been perilous in recent years.

Trump going ahead with taxes on $16B in Chinese imports
In April, the administration had announced plans to slap tariffs on 1,333 Chinese product lines worth $50 billion a year. Economists had forecast the surplus would be $39.33 billion in July, compared to a surplus of $41.47 billion in June.