China tariff threat could be a boon for Gulf oil exports

US President Donald Trump- shown here at the White House earlier this month- has taken a tough stance on trade in his second year in office

Staff members set up Chinese and US flags for a meeting between Chinese Transport Minister Li Xiaopeng and US Secretary of Transportation Elaine Chao at the Ministry of Transport of China in Beijing, China April 27, 2018.

The US president said in a White House statement on Monday evening that he had instructed the US Trade Representative's office to identify $200 billion in imports from the Asian nation for additional tariffs of 10 percent.

"This practice of extreme pressure and blackmail deviates from the consensus reached by two parties through many negotiations, and it also disappointed the global community", said a forcefully worded statement from the Commerce Ministry.

But Beijing faces challenges in retaliating directly: China ships far more goods to the United States ($505 billion past year, according to U.S. figures) than come back in the opposite direction ($130 billion).

The move comes after intense negotiations between top USA and Chinese trade officials in both Beijing and Washington, DC.

China had offered to ramp up purchases of American goods by $70 billion to help cut its yawning trade surplus with the United States, whereas Trump had demanded a $200 billion deficit cut.

Video game addiction is now being recognised as a mental health condition
Video game addiction has become the latest mental health disorder to be named by the World Health Organization . One of the most cunning offenders? One-in-three people worldwide play some form of free-to-play screen game.

"If the USA becomes irrational and issues this list, China will have no choice but to adopt strong countermeasures of the same amount and quality", the ministry statement said.

"As China hawks, like Lighthizer and (Peter) Navarro, appear to have gained power within the Trump administration lately, an all-out trade war now seems more inevitable", said Yasunari Ueno, chief market analyst at Mizuho Securities in Japan.

Trump once again touted his relationship with Chinese President Xi Jinping.

China imported $129.89 billion of US goods previous year, while the USA purchased $505.47 billion of Chinese products, according to USA data.

Trump has been insisting that China has been unfairly benefitting from a trade imbalance with the United States for years.

The move follows China's announcement that it would retaliate in kind to Trump's initial decision to hit $50 billion worth of Chinese goods with a 25 percent tariff.

Google adds four new features to its data management app Datally
Finally, Google is upgrading the "Find Wi-Fi" tool in Datally with a map to show you where these Wi-Fi hotspots are available. A Daily Limit is ideal for those who have tendencies to burn through a month's worth of data in a couple of hours.

Markets are sliding today after president Donald Trump escalated America's trade dispute with China.

Then China followed suit, unveiling 25 per cent duties on US$50 billion in USA imports - matching the U.S. rates. "Rather than altering those practices, it is now threatening U.S. companies, workers and farmers who have done nothing wrong".

"It is very unfortunate that instead of eliminating these unfair trading practices China said that it intends to impose unjustified tariffs targeting United States workers, farmers, ranchers, and businesses".

Fears the spat between the world's two largest economies could intensify added to pressure on oil prices, which extended Friday's big fall into the start of week, while the dollar retreated from a seven-month high against a basket of currencies. "It did not meet the current development trend of the world, harmed the interests of the people and enterprises of China and the United States, and harmed the interests of the people of the world". "At the president's direction, USTR is preparing the proposed tariffs to offset China's action".

The intellectual property sanctions were the latest in a spate of protectionist measures unveiled by Trump in recent months that included tariffs on steel and aluminum imports to the United States and a tough rhetoric on trade negotiations from North America to Asia. "I think it is going to make the chances of a negotiated settlement in the next 17 days that much hard", our correspondent said.

Saudi Arabia's Football Team Flight Catches Fire, Team Safe and Sound
Thankfully, no-one was injured, and the team landed and made it off the plane safely. "No warning was sounded during the landing". The plane of the Saudi Arabia World Cup team caught on fire as they traveled to their next match in Russian Federation .

Related News:

  • Over 300000 USA coastal homes at risk of flooding by 2045

    By 2045, almost $4 billion worth of residential property is at risk of chronic flooding, now worth about $28.5 billion. They say this increased risk is from an accelerated sea level rise primarily driven by climate change.

    Amazon brings Prime to Australia after geoblocking furore

    Staff collect merchandise for customers' orders from shelves at the newly-opened Amazon Prime Now facility in Singapore. In the U.S. , 70 percent of Americans with incomes of $150,000 or more who shop online have Amazon Prime memberships.
    Donald Trump Readies New Tariffs for China

    Donald Trump Readies New Tariffs for China

    The US announced plans for tariffs this spring, after an investigation into China's intellectual property practices. The tariffs were quickly matched by China on US exports, a move that drew the president's ire.
  • Meghan Markle wore the ideal  summer dress

    Meghan Markle wore the ideal summer dress

    He looked very handsome. "He said, 'Hello Thomas .' I said, 'Hi Harry .' It became a conversation back and forth, mostly about politics ".
    TV star leaves ex wife fuming after hooking up with her friend

    TV star leaves ex wife fuming after hooking up with her friend

    McPartlin has reportedly been supported by Corbett over the past few months since he crashed his auto while drink driving. Lisa then took to Twitter to slam Anne-Marie for breaking the "girl code"; she also used several broken heart emojis.
    Heat advisory issued for Cuyahoga County until 8 p.m.

    Heat advisory issued for Cuyahoga County until 8 p.m.

    The average monthly high temperature, at 68.4 degrees halfway through June, is already 1.4 degrees above normal for the month. The storm warning is expected to move towards Hartford and New Hartford by 7:50 p.m., the National Weather Service said.
  • Switzerland holds Brazil to 1-1 draw

    Switzerland holds Brazil to 1-1 draw

    Brazil star Neymar sat out training on Monday following the 1-1 draw with Switzerland in their World Cup opener . Philippe Coutinho gave Brazil the lead in the 20th minute with a volley that bounced in off the right post.
    Belgium global  opens Chelsea exit door with message to Real Madrid

    Belgium global opens Chelsea exit door with message to Real Madrid

    It had been suggested that Madrid could cool their interest following Zidane's departure, but that does not appear to be the case. And on interest from Spain, he had the following message: " Real Madrid can interest me, everyone knows that.

    Israeli ex-minister ‘who spied for Iran’ lived in Nigeria

    In 2012, a connection was established between Segev and officials from the Iranian embassy in Nigeria. Israel and Iran are bitter enemies, and the allegations against Segev are extremely grave.
  • President Trump seeks additional tariffs on $200 billion of Chinese goods

    The latest salvo came as Trump seeks to convince U.S. lawmakers to let Chinese telecom company ZTE Corp. remain in business. Reports indicate US President Trump is looking to implement new tariffs on another $US200 billion worth of Chinese goods .
    Stink bombs are coming to Fortnite

    Stink bombs are coming to Fortnite

    At the top of this list of everything coming to the Battle Royale game mode, it reads the Sink Bomb is "coming soon". Thursday, June 21 is when the update should become available, and that will probably implement this new grenade.
    North Korea's Kim in China; U.S., South Korea suspend military drill

    North Korea's Kim in China; U.S., South Korea suspend military drill

    More respondents termed the Trump-Kim meeting a success for North Korea than a success for the U.S. But Trump still needs to overcome public sentiment that the U.S.

Most liked

England have discussed prospect of racism in Russia, says Ashley Young
He's very comfortable with who he is and I think he should be - he is a fantastic young boy and a great player. He ended four years out of the global set-up when he featured in November's friendly draw with Brazil.

App Maker: Google’s low-code app building platform now available for developers
The company has also provided an administrative whitelisting control to avoid apps from running without their permission. IT budgets often tend to center on CRM, ERP, supply chain management and other large-scale enterprise applications.

John Cena on Reversing His Vasectomy to Have Kids with Nikki Bella
There's been lots of talk about how John Cena and Nikki Bella's breakup may have been due to his desire to not have kids. Cena said he wouldn't change his mind when confronted by Nikki if he was sure that was something he would want to do.

Rapper XXXTentacion shot and killed in Florida
A second video showed the 20-year-old slumped behind the wheel of his black vehicle being attended to by emergency services. The move came as part of Spotify's attempt to condemn artists who break a "hate content and hateful conduct" policy.

Nabil Fekir's agent provides shock update
According to the Telegraph , both Premier League outfits have been hit with the same problem - the Toffees are now interested. The France midfielder's move to Liverpool collapsed last week but Lyon are still prepared to cash in.

Aleksandar Kolarov, Serbia Top Costa Rica in 2018 World Cup Match
It was by no means a flawless performance, but if they find their groove in the final third, they will be hard to stop. Costa Rica's top scorer Marco Urena suffered facial fractures about a month ago.

South Africa beats England 23-12 to clinch rugby Test series
Jones won 24 of his first 25 tests in charge of England , including a joint world record 18 in a row, and would have felt untouchable.

Fresh Pixel 3 XL leak confirms at least one key detail
In fact, if you look at the live shots linked above, youd be hard pressed to recognize that this isnt a Pixel 2 XL from the back. The tweet is unsigned by any manufacturer and is quite generic if not for its indication of being a bumper case.

Koepka holds off Fleetwood for U.S. Open title
The best they could hope for was to hack the ball out and let it roll into the bunker on the other side of the green. Ben Hogan won three straight that he played, missing in 1949 after almost getting killed when his auto struck a bus.

Trump falsely claims crime in Germany is 'way up'
Her position as chancellor is now in question, but it remains unclear precisely how the situation will develop. Meanwhile, Mrs Merkel is in a different migration dispute with her interior minister, Horst Seehofer .

Dershowitz: Trump Has to Stop 'Separating Parents From Children'
Trump , said Sunday: "She believes we need to be a country that follows all laws, but also a country that governs with heart". At a McAllen, Texas, detention center hundreds of immigrant children wait in a series of cages created by metal fencing.

World Health Organization declares compulsive video gaming a mental disorder
World Health Organization accepted the proposal that Gaming Disorder should be listed as a new issue based on scientific evidence. The AP notes that The American Psychiatric Association still does not label Gaming Disorder as a mental health condition.

Rapper XXXTentacion Shot Dead In Broward, Reports Say
In March, a judge ruled that XXXTentacion could be released from house arrest in order to tour in support of his new album. He went on to be featured in XXL magazine's 2017 Freshman Class alongside other up-and-coming artists.

Mysterious lights flash over Russian World Cup city
While onlookers are convinced this is proof of alien existence, the awesome footage has been explained by Russian space officials. The weird light show was described by some as a giant UFO in the shape of a stingray.

Wendy's employees film mouse 'moving around' in burger buns at Oklahoma location
The video lasts just seven seconds, but it's enough for dozens of those who saw it on social media to swear off eating at Wendy's. They're the only thing that doesn't have anything to do with the bread".