FedEx CEO lashes out against tariffs and trade war

Smart watches and Bluetooth devices were removed from the tariff list, along with bicycle helmets, high chairs, children's vehicle seats, playpens and certain industrial chemicals. It appealed for "pragmatic dialogue" to "jointly safeguard the principle of free trade and the multilateral trading system".

In a victory for Apple and its USA customers, smart watches and some other consumer electronics products were removed from the latest list. The levies will climb to 25 percent beginning January 1, 2019.

"The Chinese side reiterates that the aim of imposing these tariffs is to prevent trade frictions from escalating and it is a measure of last resort against American unilateralism and trade protectionism", the Chinese state television report said. China only imports around $130bn from America, meaning it can't simply announce a tit-for-tat retaliation.

A senior Trump administration official told reporters that the United States was open to further talks with Beijing, but offered no immediate details on when any new meetings may occur.

The announcement was on the same day of the unofficial Chinese National Humiliation Day, commemorating the events that preceded the Japanese invasion of northeastern China in 1931, which turned Manchuria into Tokyo's satellite city.

"President Trump is a hard-hitting businessman, and he tries to put pressure on China so he can get concessions from our negotiations".

While the tariffs will affect a multitude of industries, Apple fans (and a certain white-haired CEO) have been concerned about what Trump's trade war would do to the price (and desirability) of Apple products.

Deadly Florence Wreaks Havoc in Carolinas as Death Toll Rises
The storm once known as Hurricane Florence has killed 20 people, trapped hundreds more and made parts of the Carolinas impassable. Large segments of the major corridor also were closed in North Carolina, making north-south travel subject to long detours.

What do Trump and Apple want from each other, anyway?

If China retaliates, Trump threatened Monday to add a further $267 billion in Chinese imports to the target list. That would raise the total affected by USA penalties to $517 billion, covering almost everything China sells to the United States.

"China's scope to retaliate is surprisingly limited however, especially since the outbreak of swine flu, which will anyway push up CPI inflation", Beamish said, referring to the deadly swine fever strain that is seen impacting Chinese pork prices. "No one will emerge victorious from this counter-productive cycle". It may also cancel planned trade talks in Washington next week as a result of the latest move by Washington, according to a government source.

Financial journalists have speculated that China may seek to exact pain on the United States through means other than tariffs, such as by harassing USA companies doing business in China, disrupting supply chains for American companies that originate in China, or causing mischief with, for instance, attempts by the United States to negotiate with North Korea over its nuclear arsenal.

Could Trump's China tariffs make IT more expensive for businesses?

Lillian Li, vice-president credit strategy and standards at Moody's Investors Service, said the new tariffs marked a "major escalation" in the US-China trade war, affecting about 6,000 products and a greater amount of consumer goods than past rounds. And in a victory for Apple Inc., the administration removed smart watches and some other consumer electronics products.

"Once again, I urge China's leaders to take swift action to end their country's unfair trade practices", Trump said.

Related Articles

  • Contrary to austerity claims, PM Imran boards ‘VVIP plane’ to Saudi Arabia

    Contrary to austerity claims, PM Imran boards ‘VVIP plane’ to Saudi Arabia

    Khan's government came to power on the back of populist assurances to root out corruption and reduce poverty. Both countries accuse each other of supporting militant attacks against their respective soils.
    Lucas Perez denies refusing to warm-up for West Ham vs Everton

    Lucas Perez denies refusing to warm-up for West Ham vs Everton

    Perez explained that, due to West Ham's normal procedure for preparing substitutes , it was not his turn to be warming up at the time of Arnautovic's injury.
    Hopes Korea summit will kick-start nuclear talks

    Hopes Korea summit will kick-start nuclear talks

    For the first time in more than a decade a South Korean leader is to visit the surreal North Korean capital of Pyongyang. Moon has met Kim twice this year, but each time at the Koreas' border village of Panmunjom.
  • Trump defends Kavanaugh after sexual assault allegation

    Trump defends Kavanaugh after sexual assault allegation

    Kavanaugh, who was nominated by President Donald Trump , said in a statement Monday that Ford's accusation was "completely false". Lindsey Graham reacted Monday on "Hannity" to an allegation of sexual misconduct against Judge Brett Kavanaugh .

    Trump Declassifies Russia Probe Documents in Latest Attempt to Undermine Mueller

    Questions also continue to swirl around the FBI's alleged abuse of the FISA court to obtain multiple warrants on Page. Trump also ordered the department to declassify interviews with Justice Department official Bruce G.

    Russian aircraft vanishes near Syria during Israeli, French strikes

    Sean Robertson tells VOA on Syrian claims of engaging missile targets over #Latakia "I can unequivocally say this is not us". The official SANA news agency said the Technical Industry Institution in the state-controlled city had been targeted.
  • Four dead following shootout in Mexico City's 'mariachi' plaza

    Four dead following shootout in Mexico City's 'mariachi' plaza

    In another, brass instruments and melancholic voices fill the air as the flashing lights of police vehicles descend on the plaza. The prosecutors' office said investigators were trying to find those responsible for the attack.
    Japanese billionaire Yusaku Maezawa to be SpaceX’s first Moon tourist

    Japanese billionaire Yusaku Maezawa to be SpaceX’s first Moon tourist

    Musk also used the announcement to announce some changes to the BFR design, focused on the upper stage, or spaceship, portion. Given that this new BFR rocket , as it's dubbed, has yet to be built, the flight presumably is at least a few years off.
    Chrissy Teigen Says Everyone's Been Pronouncing Her Last Name Wrong!

    Chrissy Teigen Says Everyone's Been Pronouncing Her Last Name Wrong!

    She even posted a helpful video of herself pronouncing her last name, with confirmation from her mother echoing across the room. After she walked the red carpet with her husband, John Legend , Teigen was asked by a Twitter user if she was pregnant.
  • China says filed complaint to WTO against latest U.S. tariffs

    China says filed complaint to WTO against latest U.S. tariffs

    The Trump administration announced the tariffs on some 5,000 Chinese-made goods will start at 10 percent, beginning Monday. If China does retaliate, Trump threatened Monday to add a further $267 billion in Chinese imports to the target list.
    Potential Liverpool lineup against PSG: Sturridge set to replace Firmino

    Potential Liverpool lineup against PSG: Sturridge set to replace Firmino

    Liverpool , by contrast, spent more than $220 million on refreshing the squad and is now enjoying its best start since 1990. This Liverpool team is now unrecognisable, both in personnel and style, from when Klopp walked through the door.
    United States  impose new $200bn tariffs on China imports

    United States impose new $200bn tariffs on China imports

    By brawling with America's friends, critics say, Trump has squandered an opportunity to build a united front against China. Trump also threatened to "immediately pursue" tariffs on another US$267 billion of imports if China retaliates.