China's exports fall ahead of crucial trade talks

AMD and Nvidia Analysts Worry Amid US-China Tensions

China's commerce ministry said on Wednesday it would take retaliatory measures if Washington went ahead with a plan to raise tariffs on Chinese imports on Friday.

The tariffs were put on hold when President Donald Trump and China's Xi Jinping agreed to a trade truce while the two nations negotiated a deal.

On Monday, the United States president issued another threat to raise the tariffs on Chinese imports as part of an ongoing trade spat between the world's two biggest economies.

Beijing has said it will respond in kind if President Trump imposes higher tariffs on Chinese goods on Friday.

"Guess what, that's not going to happen!"

The Chinese vice premier Liu He is now travelling to the U.S. for two days of trade talks; with the latest tariff hike scheduled for midnight EDT on Friday, the changes will arrive in the middle of his trip.

But their arrival is unlikely to stop the United States from going ahead with plans to raise import taxes on $USUS200 billion ($280 billion) in Chinese goods at 12.01am Friday, New York time, in a dramatic escalation of a year-long trade war.

"Tariffs are taxes paid by American businesses and consumers, not by China", said David French, senior vice president for government relations at the National Retail Federation in a statement. Trump's decision to potentially upend an agreement that many expected to be finalized this week in Washington appears to be a political calculation that staying tough on China will be a better proposition in the 2020 campaign.

Investors and analysts questioned whether Trump's tweet was a negotiating ploy to wring more concessions from China. "Over the last week or so, we have seen an erosion in commitments by China".

2 injured in Colorado school shooting, police say
At least seven, possibly eight victims were injured Tuesday in a shooting at a school in suburban Denver , authorities said . Students are being taken from the school to be reunited with their parents at a nearby recreation center.

Geng Shuang also said that Vice Premier Liu He, considered Beijing's top negotiator, would be among the group.

Meanwhile, a notice posted in the Federal Register revealed on Wednesday that the Trump administration will increase tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent effective 10 May.

Trump's new tariff announcements have tanked stock markets worldwide as investors, like anxious United States farmers and businesses, had been banking on a resolution to the year-long conflict that has engulfed $360 billion in two-way trade.

Still, some investors may not want to get on the wrong side of the trade in the event a deal is hammered out as Chinese officials are in Washington this week to continue negotiations.

Disagreements between U.S. and Chinese officials have deepened over the past week over accusations that Beijing would renege on commitments made earlier in negotiations that aimed to end the two countries' trade war.

The politically sensitive trade surplus with the U.S. remained large, widening to $21 billion last month from $20.5 billion in March.

He added: "With global interest rates mostly at, or near, record lows except for the USA, the world's central banks are ill-placed to cut rates to stimulate growth, as they reap the harvest of their excessively easy monetary policies over the last 10 years".

Washington has demanded far-reaching and profound changes to the Chinese economy, such as submitting state enterprises to market principles, reducing massive subsidies and ending the alleged "theft" of U.S. technology.

However, economists and even Trump's fellow Republicans in Congress, stress that U.S. importers and consumers are the ones that pay the price for higher tariffs.

Related News:

Most liked

China’s Tencent drops hugely popular combat game PUBG
The company is now placing its bets on Game for Peace , a different game that it did manage to get approvals for. PBUG users can pull their profiles and in-app purchases to the new game as they switch to " Game for Peace ".

Pakistan blasphemy case: Asia Bibi takes asylum in Canada
No executions for blasphemy have been carried out in Pakistan but enraged mobs sometimes kill people accused of blasphemy. The case has brought global attention to Pakistan's controversial blasphemy law, which carries an automatic death penalty.

Android Auto gets new look, simplified interaction
Google sided with Verizon as its official launch partner but the device will also be coming to T-Mobile, Sprint, and US Cellular. Google has also previously announced that you will be able to choose to share location data with apps only while they're in use.

Disney Gives THE NEW MUTANTS 2020 Release Date
" Star Wars: The Rise of Skywalker ", the final film in the original saga , will hit theaters December 20 of this year. At almost 65 films, the list includes offerings from not only Disney and Fox but Marvel, Pixar, and Lucasfilm.

Burma releases Reuters journalists jailed for reporting on Rohingya
In emotional scenes, Wa Lone was pictured holding his young daughter for the first time outside of police custody. Reuters journalists Kyaw Soe Oo , left, and Wa Lone , were sentenced to seven years in jail .

Boeing Didn’t Tell Airlines That Safety Alert Wasn’t On
This is on top of a promised software update to MCAS to stop it from attempting to push the 737 MAX's nose towards the ground. In October, a Boeing Max 737 Indonesian airliner crashed into the Java Sea, killing all 189 people on board.

Treasury denies request to release Trump's tax returns to Congress
During the 2016 campaign cycle, Trump refused to turn over his tax returns to the public as other candidates did. He concluded that the department was "not authorized to disclose the requested returns and return information".

Manchester United's top four ambition 'a disappointment in itself', says Ashley Young
The Red Devils will take on relegated Cardiff City in their final Premier League fixture of a disappointing season on Sunday afternoon. "From that point then, you might then get into the top four or finish fourth and third".

U.S. to Impose Higher Tariffs on Chinese Exports
By potentially scotching the trip, Beijing would be following up on its pledge to avoid negotiating under threat , it said. The sell-off may reflect fears Trump could also increase the pressure on the European Union in trade talks.

National Nurses Week Honors Those That Serve Others
International Nursing Day is celebrated around the world every May 12, the anniversary of Florence Nightingale's birth. Besides being desperately needed, nurses are also happy and content with their positions in life.

Police search for 5-year-old kidnapped 'by three Hispanic men'
Sgt Holbrook said Sunday: 'I realize there's a lot blanks in the story, but we are hoping the public can help fill in the blanks'. He then made the report that his daughter Maleah was missing, but now isn't being viewed as a suspect, the investigator said .

Trump vows new tariff hike on Chinese goods
The threat , conveyed via Twitter , dashed expectations that the two biggest economies might forge a deal in talks this week. The US government hit China with the most extensive tariffs, starting a trade war between the world's two largest economies.

Latest Google Pixel 3A Leak Reveals Pricing And Launch Date
As for authentication, like the Pixel 3 devices, the Pixel 3a XL would also be coming with a rear-mounted fingerprint sensor. In fact, the base variant of the OnePlus 6T can be purchased for as low as Rs 32,999 during the Amazon Summer Sale .

Mohamed Salah to miss second leg against Barcelona with concussion
However, a Citizens victory on Monday would see them return to the summit by a point. "These boys today did it like they did it". As the club eyes to enter the Champions League final, they would also be looking for their 19th league title on Sunday.

Met Gala Red Carpet 2019: Lady Gaga & More Wow In Stunning Looks
E! News has got you covered with everything you need to know about what you didn't see at Fashion's Biggest Night of the Year. Camp is often over-the-top, with Sondag presenting "Swan Lake", Tiffany Lamps, King Kong and Art Nouveau as examples.