China promises retaliation if USA imposes more tariffs

A sell-off in Chinese shares pulled Asian equities to a 14-month trough on Monday as investors braced for a potentially damaging escalation in the Sino-U.S. tariff row after U.S. President Donald Trump raised the stakes in the dispute with Beijing.

In a tweet earlier Sunday, Trump cited an August 31 announcement from the company that said it had canceled plans to sell the Chinese-built Focus Active in the U.S.

Then, after Trump started threatening his new tariffs against China, Ford decided in August that it wouldn't sell the Focus Active in the USA after all. "Exciting!" Trump said in the tweet. Apple didn't immediately respond to a request for comment. The United States on July 6 began imposing a 25 percent tax on $34 billion in Chinese imports, including motor vehicles.

Trump warned on Friday that he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on a further $267 billion of goods.

In its letter this week to the Office of the US Trade Representative, Apple said that "because all tariffs ultimately show up as a tax on US consumers, they will increase the cost of Apple products that our customers have come to rely on in their daily lives".

Trump's increasing aggression toward China and his strong desires for increases in tariffs have many companies anxious. The company's shares fell 0.8% on Friday to close at $221.30 on the news. Apple chief executive officer Tim Cook earlier this year told Trump tariffs "were not the right approach". The euro was up 0.1 percent against the dollar at $1.1566 after falling more than half a percent on Friday following the U.S.jobs data.

I'll be back coaching soon - Zidane amid Man United links
I joke about Manchester City but they are playing great football", he added. "I like Mourinho. On the other hand, Edison Cavani and Alcantara are rumored to leave their respective clubs.

Beyond the core products, Apple said accessories like the HomePod speaker, some Beats speakers, AirPort and Time Capsule internet routers, the Magic Mouse and Magic Trackpad, and leather cases for the iPhone, iPad, MacBook and Apple Pencil would be affected.

Intel Corp., the world's second-largest chipmaker, weighed in supporting Apple's opposition to the tariffs and broadening the argument.

Trump, who is challenging China, Mexico, Canada and the European Union on trade issues, has now expressed displeasure about his country's large trade deficit with Japan. The company has not announced plans to move manufacturing from China to the US.

In addition, the chip industry is a source of trade surplus for the United States, including with China, Intel argued. "We are puzzled as to why the Administration may be using tariffs in part to re-engineer global ICT (information, communication and technology) supply chains that have served USA companies so well".

Beijing has warned of retaliation if Washington launches any new measures, but it is running out of room to match them dollar-for-dollar, raising concerns it could resort to other measures such as weakening the yuan or taking action against US companies in China.

"This forces Ford to forfeit the sales they would have had if they could continue to import that low-volume niche vehicle", Gabrielsen said.

Recommended News

  • New York subway station buried by 9/11 open again

    New York subway station buried by 9/11 open again

    Cortlandt Street on the 1 line was buried under debris when the two World Trade Center towers collapsed after hijackers crashed planes into them.
    Packers’ Aaron Rodgers injured, leaves games on cart

    Packers’ Aaron Rodgers injured, leaves games on cart

    But still, on one leg, he was still Aaron Rodgers and he put together a few magnificent drives to get Green Bay back in the game. On a third-down play, Rodgers dropped back to throw but quickly hit the deck with the Bears' pass rushers closing in.
    Basra protests: Iraq government buildings torched in new unrest

    Basra protests: Iraq government buildings torched in new unrest

    Amiri and Maliki are Iran's two most prominent allies in Iraq, while Abadi is seen as the preferred candidate of the US. His decision came after protesters took to the streets, which made it hard for security forces to enforce the curfew .
  • France Dider Deschamps praises Olivier Giroud for breaking goal drought in win

    France Dider Deschamps praises Olivier Giroud for breaking goal drought in win

    Kenny Tete of Lyon did great from the right to set-up former Liverpool winger Ryan Babel for the equaliser on the 67 minute mark. Giroud's worldwide goal tally now stands at 32, one past the great Zinedine Zidane on France's all-time scorers list.
    City Council signs off on one-year pilot program for e-scooters

    City Council signs off on one-year pilot program for e-scooters

    According to the pilot program, a tail light and a notice saying "Not To Ride On Sidewalk" are required for each scooter. Right now the scooters are not street legal, and not allowed downtown in the business district at all.
    Passengers on 4 Southwest Flights May Have Been Exposed to Measles

    Passengers on 4 Southwest Flights May Have Been Exposed to Measles

    Vaccinations have gone a long way in reducing the incidence of measles. "The vaccine is safe and effective". The disease can kill in rare cases, but vaccinations have reduced cases by 99% in the U.S. since the 1960s.
  • Chelsi Smith, Miss Universe 1995, has died at age 45

    Chelsi Smith, Miss Universe 1995, has died at age 45

    The following year, she travelled to Nambia for Miss Universe, where she was the first woman from the U.S.to win in 15 years. In a statement , her family proudly said she was one of the only biracial women to have won a triple crown that year.
    Xbox Australia celebrates PUBG launch with a greaseproof Xbox controller

    Xbox Australia celebrates PUBG launch with a greaseproof Xbox controller

    PlayerUnknown's Battlegrounds finally had its official release on Xbox One after almost a year in Xbox Game Preview. What's the connection? Winning a PUBG match gets you a chicken dinner; chicken (can be) greasy, so there you go.
    Harris puts Kavanaugh on edge with Mueller question

    Harris puts Kavanaugh on edge with Mueller question

    Senators on both sides of the aisle have acknowledged that Roe could be overturned by the court despite being precedent. Kavanaugh has been strongly favored to win the 51 votes needed to be confirmed by the Senate.
  • Increasing Continuously Fuel prices reach new high

    Increasing Continuously Fuel prices reach new high

    On Tuesday, former Finance Minister P Chidambaram had tweeted: "Relentless rise in prices of petrol and diesel is not inevitable. As per reports, petrol and diesel prices have increased by Rs 2.85 per litre and Rs 3.3 per litre respectively since August.
    Serena fined $17000 after US Open final outburst

    Serena fined $17000 after US Open final outburst

    The furore over the final of the US Open is continuing after it was on Sunday revealed that Serena Williams had been fined $17,000 for code violations during the game which saw her lose her bid to equal the record for a 24th major title.
    New banner replacing LeBron James’ in Cleveland gets roasted on Twitter

    New banner replacing LeBron James’ in Cleveland gets roasted on Twitter

    The Cleveland Cavaliers announced plans on Friday to replace the former LeBron James banner with a mosaic of fan photos. The new banner will also include a Cleveland Cavaliers logo and a Destination Cleveland logo.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.