Wall Street analysts can't agree if the trade war threat is real
08 April, 2018, 01:13 | Author: Chad Mckenzie
But with today's decline, the three major indexes fell into the red for the week, with the Dow down 0.7%, the S&P off 1.4% and the Nasdaq dropping 2.1%.
"If the U.S. side disregards opposition from China and the worldwide community and insists on carrying out unilateralism and trade protectionism, the Chinese side will take them on until the end at any cost", the Ministry of Commerce said in a statement on its website. US President Donald Trump yesterday ramped up his trade war rhetoric with China, seeking United States dollars 100 billion in additional tariffs on Chinese products. They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair.
Trump threatened an additional US$100 billion in tit-for-tat tariffs on Beijing yesterday, in the latest step in an escalating trade dispute. Gao said comments from US officials about ongoing talks about trade issues were incorrect. "We represent 6 percent of the imports but account for 51 percent of the tariffs".
But Beijing says it will counterattack with reciprocal strength. The U.S. buys $506 billion worth of goods from China but only exports $130 billion, leaving a trade deficit of $375 billion between the two countries. "But thankfully, we have a president that's willing to actually stand up, be tough, and take some really courageous and bold action, like President Trump has done", she said.
Speaking to the Financial Times, professor of global strategy, Chu Shulong, said the dispute wouldn't necessarily escalate into a trade war: "This is a strategy, not the start of a trade war".
Washington has called for the $50 billion in extra duties after it said a probe determined Chinese government policies are created to transfer USA intellectual property to Chinese companies and allow them to seize leadership in key high-technology industries of the future.
The White House blamed China on Friday for trade practices it said were illegal and unfair.
Since Trump started his criticism of Amazon, the company has lost more than $37 billion in market value.
The latest on morning snowstorm impacting the commute
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Today, Attorney General Josh Shapiro and a coalition of 17 other Attorneys General, six cities, and the bipartisan U.S. Department of Commerce's alleged "unconstitutional and arbitrary decision" to add the citizenship question.
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Katrina Kaif to meet Salman Khan today
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Ghost Recon Wildlands will get a second year of DLC
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Stoke win sets Arsenal up for Europa League tie - Wilshere
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