Trump accuses China of plot to meddle with congressional elections

Donald Trump

Trump has promised to respond to Chinese retaliation with further tariffs on the remainder of Chinese imports - which he has variously characterized as $267 billion or $257 billion worth of products.

China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of USA products to its import tariff list in retaliation for President Donald Trump's planned levies on $200 billion worth of Chinese goods.

Beijing will impose levies on a total of 5,207 US products - ranging from liquefied natural gas to certain types of aircraft as well as cocoa powder and frozen vegetables - at 5 and 10 percent, instead of previously proposed rates of 5, 10, 20 and 25 percent, the finance ministry said. Steel is usually priced in anticipation of future supply, which means prices could increase before the January hike.

Trump was defiant and said his supporters will not be swayed.

Furthermore, if these tariffs do turn into an all-out trade war, with Trump going the full $505 billion and China throwing the kitchen sink in response, that's a protracted conflict that China would probably win.

The tariffs announced by Beijing on Tuesday reflect the dwindling amount of goods on which it can impose new tariffs. "They worry that the tit-for-tat model is playing into Trump's hands".

Banks said he has asked businesses to provide him with data on how the tariffs are affecting them.

China remains unafraid of the "extreme measures" taken by the United States, the People's Daily newspaper said in a front-page article in its overseas edition on Wednesday. Democrats have opposed most of his agenda, but many have supported his attacks on trade with China.

"We will make sure that all companies, be they Chinese- or foreign-owned, so long as they are registered in China, will be treated as equals", Li said.

Syria war: Russian Federation and Turkey to create buffer zone in Idlib
Before the end of the year, roads between Aleppo and Hama, and Aleppo and Latakia must be reopened for transit traffic, he said. Assi said the sides could also agree to modify the borders of the deescalation zones to keep armed rebels from certain sectors.

Recent NBC News/Marist polls have also found that the trade war - a pillar of Trump's presidency - is unpopular in six politically important states: Illinois, Indiana, Missouri, Pennsylvania, Tennessee and Texas.

With the new announcements, USA tariffs will apply to $250 billion of Chinese goods and Chinese tariffs will apply to $110 billion of US goods. "We really went item-by-item trying to figure out what would accomplish the punitive objective on China and yet with the least disruption in the U.S".

China's yuan, also known as the renminbi, has steadily depreciated this year, causing Trump to accuse Beijing of deliberately manipulating the currency to offset the new tariffs.

According to Xia Yeliang, a libertarian scholar and former professor of economics at Peking University, Chinese leaders will be looking to save face as they were caught off-guard by Trump's announcement.

"The downward spiral that we have previously warned about now seems certain to materialize", the chamber chairman, William Zarit, said in a statement.

"If he does that, we're just headed inevitably for an economic Cold War with China", said economist Gary Hufbauer of the Peterson Institute for International Economics.

Li also said China will widen market access for foreign companies and ensure fair competition. If the Chinese economy slows under the weight of US import taxes, the global economy might also stumble, according to Stephanie Segal, deputy director of the Center for Strategic and worldwide and Studies, a Washington think tank.

Some administration hard-liners would be content to see the trade and investment restrictions lead to a decoupling of the US and Chinese economies, Hirson said.

In July, Beijing launched a short video in English featuring a talking cartoon soybean vouching for the importance of trade. Analysts are skeptical China will be willing or able to do enough to satisfy the Trump administration on some of its key concerns, including Chinese efforts to get hold of United States technology and Beijing's ambitious industrial policies.

Related news:

Hot News

isis-killer-beheading-video-story-top Nolte: Kavanaugh Accuser's Classmate Deletes Claim that Everyone Knew of Alleged Misconduct
Sep 20, 2018 - 02:02
However, Grassley rejects that saying the FBI's role is complete and adding, " No other OUTSIDE investigation is necessary". Still, the risks of a public hearing starring the all-male lineup of Republicans on the committee could be high.

isis-killer-beheading-video-story-top Google Home Hub is a smart speaker with a 7-inch display
Sep 20, 2018 - 01:54
We expect to hear more about the smart speaker at the October 9 event, and until then take all the rumours with a pinch of salt. Additionally, we can confirm that the device will be called the "Home Hub" and should be available later this fall for $149.

isis-killer-beheading-video-story-top At least four hurt after 'active shooter' opens fire in Middleton
Sep 20, 2018 - 01:54
NBC 15 spoke to employees who work at a building next door who said they saw employees running from the neighboring building. Gabe Geib, a customer advocate at Esker Software, said he was working at his desk when he heard what "sounded like claps".

isis-killer-beheading-video-story-top Michael Jordan Donates $2 Million to Hurricane Florence Relief in North Carolina
Sep 20, 2018 - 00:23
Recently, Trump has angrily challenged the almost 3,000 deaths attributed to Hurricane Maria in Puerto Rico past year . Around a quarter of a million people remain without power, and sections of several major roadways remain impassable.

isis-killer-beheading-video-story-top Death toll rises to 13 as Hurricane Florence continues to wreak havoc
Sep 19, 2018 - 02:50
The head of the Federal Emergency Management Agency, Brock Long, said officials were focused on finding people and rescuing them. As of Saturday morning more than 86,000 households were without electricity and most streetlights were not working.

isis-killer-beheading-video-story-top Hoge & Jahns Podcast: Breaking down the Bears defense’s big night vs. Seahawks
Sep 19, 2018 - 02:10
On the Seahawks' first play, Wilson was swarmed by a host of Bears and finally brought down by Jackson for his first career sack. The bad news: The offense was unable to do anything about it against the stout Chicago defense. "That made the difference".

isis-killer-beheading-video-story-top Russian military plane ‘disappears from radar over Syria’, says defence ministry
Sep 19, 2018 - 01:33
Putin did not voice his grievances against Israel but said he supported the Defence Ministry's statement . Officials said the plane disappeared as four Israeli fighter jets were attacking targets in the area.

isis-killer-beheading-video-story-top Brett Kavanaugh’s Accuser Willing to Testify, Lawyer Says
Sep 18, 2018 - 02:39
Mark Judge, who has been named as the third person in the room, told The Weekly Standard the allegations were "absolutely nuts" . Katz, the attorney for the woman, Christine Blasey Ford , said her client considered the incident to be an attempted rape.

isis-killer-beheading-video-story-top Dylan Farrow, Ronan Farrow Slam 'Disgusting' Soon-Yi Previn Interview
Sep 18, 2018 - 02:26
Previn told the magazine that her mother slapped her , "called everyone" and threw her out of the apartment they had shared. Instead, she told Newsweek that she was a college student who "fell for a man who happens to be the ex-boyfriend of Mia ".

isis-killer-beheading-video-story-top Joker: First Look at Joaquin Phoenix
Sep 18, 2018 - 02:24
Back in July , That Hashtag Show reported that Arthur Fleck will be the Joker's name before he becomes Batman 's greatest nemesis. Todd Phillips , the director of the untitled Joker movie shared this photo on Instagram with the caption "Arthur".

isis-killer-beheading-video-story-top Trump’s supreme court pick accused of sexual assault
Sep 18, 2018 - 01:39
Senate Minority Leader Charles Schumer called for the vote on Kavanaugh's confirmation to be delayed due to Ford's accusation. Neither senator is on the Judiciary Committee, which is scheduled to vote on a recommendation for the lifetime appointment.

isis-killer-beheading-video-story-top Rain, floods still in Florence's forecast — WHAT'S HAPPENING
Sep 18, 2018 - 01:31
The city is under curfew from 10pm until 6am but the area affected by looting has been given an extended curfew of 5pm until 6am. At one stage, in the middle of the Atlantic, Florence was a category four hurricane.

isis-killer-beheading-video-story-top Tom Arnold Has Physical Altercation With Mark Burnett at Pre-Emmys Party
Sep 18, 2018 - 01:30
He confirmed the altercation (he calls it an "unprovoked attack" by Burnett) and says Tom "has a witness" that will back him up. Arnold replied to Downey's tweet , calling her a liar. "I'm filing police report & suing you for defamation", he wrote.

isis-killer-beheading-video-story-top Ravens can’t recover from Bengals’ dominant 1st half
Sep 17, 2018 - 04:01
Bengals from every possible angle to reveal a strong point-spread pick that he's sharing only over at SportsLine. The Bengals honored their 1988 Super Bowl team at halftime, their last team to go deep into the playoffs.

isis-killer-beheading-video-story-top Details emerge about Browns' decision to part ways with Josh Gordon
Sep 17, 2018 - 02:43
Gordon, 27, is scheduled to make just $790K this season before becoming a restricted free agent next offseason. Cleveland announced its plans to cut ties with Gordon Saturday, sparking surprise throughout the NFL .