Oh nuts! China shoppers lament tariffs on USA almonds, pistachio and fruit

Oh nuts! China shoppers lament tariffs on USA almonds, pistachio and fruit

Oh nuts! China shoppers lament tariffs on USA almonds, pistachio and fruit

"American business wants to see solutions to these problems, not just sanctions such as unilateral tariffs that may do more harm than good", said John Frisbie, president of the US-China Business Council.

China "urges the US side to resolve the concerns of the Chinese side as soon as possible" through dialogue and "avoid damage to the overall situation of Sino-US cooperation", it said.

In a statement, Chinese Commerce Ministry urged the U.S. to pull back from the brink of pitting the world's two biggest economies against each other.

"Even free traders and internationalists agree China's predatory trade practices, which include forcing USA businesses to transfer valuable technology to Chinese firms and restricting access to Chinese markets, are undermining both its partners and the trading system", it said.

Trump's actions represent a "seismic shift from an era dating back to Nixon and Kissinger, where we had as a government viewed China in terms of economic engagement", White House trade adviser Peter Navarro told reporters on Thursday. In addition, Trump will also direct the US Treasury to propose measures that could restrict Chinese investments in the United States, Eissenstat said.

Chinese buyers of soybeans, the United States' biggest agricultural export to the country, are quietly drawing up contingency plans to ensure supplies of critical raw materials in the event of a trade war, sources said. This value is estimated to be "at least $50 billion per year", it added.

"With the restrained response, China hopes Trump can realise his errors and mend his ways", said Xu Hongcai, deputy chief economist at the China Centre for International Economic Exchanges, a Beijing think tank.

When did the initiative take effect? . Once a final list is published, there will be a 30-day consultation period, potentially allowing Beijing and Washington to negotiate.

Peru's president offers his resignation on the eve of impeachment vote
Peru's President Pedro Pablo Kuczynski participates in a military event at Rimac army headquarters in Lima, Peru March 20, 2018. The Congress will meet in the next hours to see if it accepts or rejects the resignation and proceeds with the dismissal.

Boko Haram Jihadists Free Nigerian School Girls
Officials say the latest mass abduction is thought to have been carried out by a Boko Haram group that has aligned with ISIS. The insurgents reportedly returned in the 9-vehicle convoy with which they came to abduct the girls.

YouTube Plans To "Frustrate And Seduce" Users To Pay For A Subscription
Cohen also said the service will help YouTube and parent Google "be good partners" to the music industry . Plus, numerous apps in our MP3 music downloaders list come with built-in ad blockers for YouTube .

Hours later, China unveiled tariffs on $3 billion of USA imports in response to steel and aluminum duties ordered by Trump earlier this month.

The United States buys half a trillion dollars' worth of goods from China every year, from toys to shoes to cellphones, and prices of those products could surge due to a tariff plan announced Thursday. The tariffs are effective Friday.

"Beijing is extending an olive branch and urging the U.S. to resolve trade disputes through dialogue rather than tariffs", said economist Vishnu Varathan of Mizuho Bank. The 25% tax will be introduced after "a further evaluation of the impact of US measures on China" is completed, the ministry statement said.

Liu, for his part, noted the report violates global trade rules, and is detrimental to the interests of China, the United States as well as the whole world. It said USTR would pursue a World Trade Organization case against Beijing's "discriminatory technology licensing". China has announced measures on $3 billion worth of USA goods.

China has repeatedly said that it doesn't want a trade war but warned that it would take "firm and necessary" countermeasures if necessary.

Trump, however, appears intent on fulfilling election promises to reduce the record USA trade deficit with China.

Chinese state media reported the USA to have been notified by China of its intentions to protect its trade interests.

Chinese customs data show that in the first two months of this year, the surplus jumped 35% year-on year to $42.9 billion.

Related news