Even American Condoms Are Screwed In The Trump-China Trade War

US tariffs make no dent on China exports surge

Chinese state media accuses the United States of a "mobster mentality" in its move to implement additional tariffs on Chinese goods, and warns Beijing had all the necessary means to fight back.

The action is the latest by U. S. The US imports considerable quantities of Chinese active pharmaceutical ingredients (bulk drugs) for the production of finished dosage (formulations). FILE PHOTO: Chinese and U.S. flags are set up for a meeting during a visit by U.S. Secretary of Transportation Elaine Chao at China's Ministry of Transport in Beijing, China April 27, 2018.

The measure is a response to US's decision to levy 25% duties on US$16 billion worth of Chinese goods and a final tariff list targeting 279 import product lines announced on Tuesday, which has brought the amount of impacted Chinese imports to US$50 billion.

The now proposed charge is 10%, but it could increase to 25% once a consultation period ends.

The U.S. says it will begin imposing tariffs of 25 percent on an additional $16 billion in Chinese imports in t, further escalating the trade war between the two countries. During April this year, China exempted import tariffs on 28 essential drugs including drugs for cancer treatment.

The United States shipped 3.2 million tonnes of coal to China past year, up from less than 700 tonnes in 2016, making it China's seventh largest supplier, although well behind top supplier Australia with almost 80 million tonnes. For decades after 1949, when New China was founded, the domestic wholesale and retail proceeds were much higher than gross export earnings.

"According to our calculation, after the 25-percent tariff, USA coal will cost at least $30 per tonne more, which basically rules it out of the Chinese market". "This latest development and its impact will be discussed at the MRF Summit taking place at WASTECON in Nashville on August 22-23".

According to a Wall Street Journal article, if the tariff threat is carried through the South Korean parliament will not ratify the US-Korea trade deal announced earlier this year.

These facilities will increase US LNG exports from about 13.5 million tonnes now to about 66 million tonnes.

Overall, Trump has imposed new tariffs on about $107 billion worth of imports, and threatened tariffs on roughly $608 billion worth of additional imports.

China was the world's second-largest LNG importer in 2017, Kallanish Energy reports.

The Ministry of Commerce says it would impose tariffs at four different rates (5% to 25%) on the US goods that would be targeted. The outcome of the crisis was a turn by South East Asian nations towards the Chinese economy, on which they have become increasingly dependent.

Related news:

Hot News

isis-killer-beheading-video-story-top NASA begins countdown to launch of first spacecraft to ‘touch Sun’
Aug 12, 2018 - 00:00
It's clear that as we travel deeper and deeper into space, we need a much better understanding of this "space weather". During its elliptical orbit, the Parker Solar Probe will make it up to 430,000mph, which would be a new speed record.

isis-killer-beheading-video-story-top Fortnite for Android goes "off market"
Aug 11, 2018 - 23:43
The message that pops up says that " Fortnite Battle Royal by Epic Games, Inc is not available on Google Play". Epic probably thinks that having the most popular game in the world gives it enough reach to go its own way.

isis-killer-beheading-video-story-top Turkish lira continues to nosedive, amid 'economic war' with the
Aug 11, 2018 - 23:09
Turkish President Recep Tayyip Erdogan has accused the USA of trying to "bring Turkey to its knees through threats over a pastor". Congress has led to a nascent bill that could limit Turkey's ability to obtain loans from any U.S. -based financial institutions.

isis-killer-beheading-video-story-top Kremlin says new United States sanctions on Russian Federation illegitimate
Aug 11, 2018 - 21:58
The U.S. will also ban Russian Federation from receiving U.S. weapons or military technology and financial assistance. Moscow has angrily rejected any involvement in the poisoning, plunging diplomatic relations with London into crisis.

isis-killer-beheading-video-story-top Liverpool keeper Karius grateful for Anfield reception
Aug 10, 2018 - 17:35
The Reds will be aiming to be one of the main contenders for the Premier League title next season. Klopp added that the emergence of youngster Nat Phillips helps his injuries concerns.

isis-killer-beheading-video-story-top Melania Trump’s Slovenian parents get USA citizenship
Aug 10, 2018 - 17:26
The Knavses raised Melania, born Melanija, in the rural industrial town of Sevnica while Slovenia was under communist rule. The USCIS district director Thomas Cioppa presided over the ceremony, Wildes said.

isis-killer-beheading-video-story-top England v India: second Test, day two
Aug 10, 2018 - 16:59
It is the first time a whole Test match day has been lost to the weather at the home of cricket since May 2001, against Pakistan. Chris Woakes is expected to replace all-rounder Ben Stokes, who is standing trial in Bristol on a charge of affray.

isis-killer-beheading-video-story-top Manchester United wanted to pay £100m plus for Rafael Varane
Aug 10, 2018 - 16:58
West Ham signed Spanish striker Lucas Perez from Arsenal to complete a near 100-million pounds summer spend. The Red Devils and the Foxes have had just 24 meetings between them.

isis-killer-beheading-video-story-top Israel launches scores of airstrikes as Gaza fire persists
Aug 10, 2018 - 16:48
Gazans have held weekly protests against Israel at camps on the border since March 30, some of which have become violent. The exchange came amid continued attempts by Egypt to broker a broad cease-fire deal between Israel and Hamas.

isis-killer-beheading-video-story-top Pochettino Explains Real Reason Why Tottenham Didn't Sign Any Players This Summer
Aug 10, 2018 - 15:26
Pochettino continued: "It was a unusual transfer market because until England was out [of the World Cup] no-one was moving".

isis-killer-beheading-video-story-top Watch Today's Super Smash Bros. Ultimate Direct Here!
Aug 09, 2018 - 03:27
Among the announcements was that when the game launches on December 7, it will be available in a bundle called Super Smash Bros . Players will have 28 hours worth of music tracks to pick from, but you won't be able to play just any theme music on any stage .

isis-killer-beheading-video-story-top Disney quarterly profit falls short as streaming costs rise
Aug 09, 2018 - 02:02
Disney CEO Bob Iger hinted at potential Fox related Marvel content for its upcoming streaming service today. This will include not only Marvel films, but all of the Star Wars movies and Disney releases as well.

isis-killer-beheading-video-story-top Elon Musk isn't kidding, Tesla board confirms TSLA could go private
Aug 08, 2018 - 23:46
There still are near-term execution risks around ramping up Model 3 production and the ability to generate cash, Jonas believes. He said that would allow Tesla to "operate at its best, free from as much distraction and short-term thinking as possible".

The Sixth Day of Paul Manafort's Trial Was Indirectly About Donald Trump
Aug 08, 2018 - 21:42
The loan was actually income disguised to lower Manafort's taxes, he said, and then forgiven to help Manafort get a loan. Gates was hired by Manafort to serve as deputy campaign chairman and later had a role on Mr Trump's inaugural committee.

isis-killer-beheading-video-story-top Klopp reminds Liverpool fans of Henderson importance
Aug 07, 2018 - 23:57
As things stand, Chelsea appear the sole club in the race for Fekir with Liverpool not necessarily needing another attacker following the arrival of Xherdan Shaqiri.