Stocks plummet on fears of U.S.-China trade war

U.S. President Donald Trump second right and China's President Xi Jinping second left attend their bilateral meeting at the G20 Summit in Buenos Aires Argentina. A U.S.-Chinese cease-fire on tariffs gives jitter

Trump: US to Impose Higher Tariffs on Chinese Exports

In fact, on a recent trip Breitbart News went on to Taiwan for the 40th anniversary of the Taiwan Relations Act-which established deep unofficial ties between the United States and Taiwan after President Jimmy Carter in 1979 switched official diplomatic relations to the People's Republic of China (PRC) on the mainland-a number of Democrats and Republicans were there.

Credit: ShutterstockOn Sunday, U.S. President Donald Trump said on Twitter that he would raise tariffs on electronics imported from China to 25% from the current 10% that are set for imports worth $200 billion.

"The probability of a no-deal scenario is now elevated and markets will have to price that accordingly", said Mona Mahajan, U.S. investment strategist at Allianz Global Investors, New York.

Mr Trump delays his hike of the 10 per cent tariffs to 25 per cent on US$200 billion of Chinese goods until March 1.

He also raised the possibility of a new 25 per cent duty on another $US325 billion ($466 billion) on imports that are not now subject to tariffs.

He said that $325 billion of other, Chinese goods remain untaxed now, but they won't stay that way for long.

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In a late April interview with Fox Business host Maria Bartiromo, the U.S. Treasury Secretary Steve Mnuchin said Trump is confident that his tariffs will lead to a deal. It's possible that Mr. Trump was considering total exports from China a year ago, which reached $539 billion.

Some reports said the Chinese were due to send a 100-person delegation to the negotiations.

"China shouldn't negotiate with a gun pointed to its head", an unnamed Chinese person was quoted as saying in the report.

Asked whether the top Chinese envoy, Vice Premier Liu He, would go to Washington as planned, Geng said only that a "Chinese team" was preparing to travel.

The tariffs imposed by the Trump administration on steel imports, mainly from China, have increased domestic production, leading to a drop in steel prices. The other sticking points are how to enforce an eventual deal and the fate of the existing U.S. tariffs on Chinese goods that Beijing wants removed. "President Trump has made it clear that things have to change with China on the structural issues as well as the trade and balance, and we'll continue to stand firm on those".

USA media has reported that China is now considering cancelling those talks, led by Vice-Premier Liu He, that were scheduled to resume on Wednesday.

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He also blasted Barr's failure to appear as part of a wholesale obstruction by the Trump administration of Democrat-led inquiries. Their call for bar sanctions is innovative, but by no means the only punishment Democrats have suggested for what they see as Mr.


While Trump's tweets could suggest trade talks have hit a brick wall, analysts said the threat likely represents a shift in negotiating strategy. China announces 10 per cent retaliatory tariffs on US$60 billion of American goods.

A breakthrough in the trade talks could restore normality, he said.

Democratic Sen. Minority Leader Chuck Schumer had some rare praise for President Donald Trump on Sunday.

Global trade deficits are likely to reach an all-time high in 2019, Oxford Economics predicted in a March research note, citing "healthy" demand from US consumers and a strong USA dollar.

Monday's actions come amid an escalated trade war between the US and China.

Apparently catching Beijing by surprise, Mr Trump said he would raise import taxes on $US200 billion ($NZ302 billion) in Chinese products to 25% from 10%. Oil futures also opened lower, CNN stated.

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Growth Most analysts estimate direct United States losses so far of 0.1-0.2 per cent of gross domestic product, while for China the damage could be 0.3-0.6 per cent of GDP.

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