Donald Trump Imposes Fresh US Tariffs on Chinese Goods worth $34 Billion

Agencies
July 6, 2018

Washington, Jul 6: Punishing US tariffs on Chinese imports took effect early Friday, marking the start of President Donald Trump's trade war with the largest US trading partner and intensifying the anxieties of global industry.

Beijing was expected to immediately retaliate dollar-for-dollar with its own counter-tariffs after Trump imposed 25 percent duties on about $34 billion in Chinese machinery, electronics and high-tech equipment including autos, computer hard drives and LEDs.

The arrival of the long-threatened tariffs marked the failure of months of dialogue between the world's two largest economies and came amid hand-wringing from industry leaders who fear shrinking markets, higher prices and slower growth.

The tariffs' arrival also made real a campaign-trail pledge for Trump, who has fulminated for years against what he describes as Beijing's underhanded economic treatment of the United States.

US officials accuse China of building that country's emerging industrial dominance by stealing the "crown jewels" of American technological know-how through cyber-theft, forced transfers of intellectual property, state-sponsored corporate acquisitions and other alleged practices.

And they say the current US economic strength, as well as America's soaring trade deficit in goods, means the world's largest economy can outlast its rivals in the current tit-for-tat battle, presenting Washington with a rare window of opportunity to settle old scores.

The US trade deficit in goods with China ballooned to a record $375.2 billion last year, further stoking Trump's ire.

But it remained to be seen whether the American president would carry out recent threats to respond to any Chinese retaliation with maximum pressure -- raising US duties on Chinese goods in increments of $200 billion until virtually all the goods America buys from its largest trading partner are subject to duties.

But, aboard Air Force One on Thursday en route to Montana, Trump erased any hope of an about-face. He said Washington stood ready to slap duties on hundreds of billions more in Chinese imports once Friday's tariffs took effect.

Red states feel the pinch

As the tariffs' start approached at midnight, the US central bank warned Thursday the impending trade battle was beginning to darken the otherwise blue skies of the robust American economy, now starting its 10th year of recovery.

Businesses around the United States told the central bank that spending plans had been scaled back or postponed and they also warned of further adverse effects from the trade conflict, according to a Federal Reserve survey.

An industrial survey confirmed that companies were white-knuckling their way through Trump's intensifying, multi-front trade assault.

"We're starting to see signs of inflation, not sharp inflation, but definitely inflation," Anthony Nieves, head of a services industry survey committee for the Institute for Supply Management, told reporters on Thursday.

The start of the trade war likely confirms the widening rupture between Trump and his own Republican Party, a traditional champion of free trade and big business whose members, while critical, have so-far shrunk from curtailing the White House's trade powers.

But, with the GOP facing strong political headwinds ahead of November's mid-term elections, China's countermeasures left both Trump and Republican lawmakers increasingly vulnerable to voters who appear likely to boost the fortunes of opposition Democrats.

The powerful US Chamber of Commerce, a principal corporate lobby, said this week that retaliation from China, Canada, Mexico, the European Union and others against Trump's tariffs was already affecting $75 billion in US exports -- much of this from states that had narrowly supported Trump in 2016's presidential elections.

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News Network
November 26,2024

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Islamabad: Four paramilitary personnel and two policemen have been killed and over 100 security personnel injured as the protest by supporters of jailed former prime minister Imran Khan turned violent prompting the federal government to deploy the army in the national capital along with shoot at sight orders on Tuesday, state-run media said.

Pakistan deployed the army amid a tense stand-off with Khan's supporters from his Pakistan Tehreek-e-Insaf (PTI) pushing forward by removing hurdles on their way to Islamabad's D-Chowk venue as the government vowed to foil their attempt “even if a curfew needs to be imposed.”

Radio Pakistan said a vehicle rammed into Pakistan Rangers personnel killing four Rangers officials on the Srinagar Highway in Islamabad late on Monday night. Five other Rangers personnel and several police officials too sustained severe injuries.

About five kilometres from this spot, a bunch of miscreants, equipped with weapons and ammunition, pelted stones on the Rangers personnel and carried out indiscriminate firing on the security personnel at Chungi No 26 in Rawalpindi, Radio Pakistan said.

It also reported that two policemen were killed but didn't provide any details.

According to Punjab police, one policeman was killed at Hakla interchange on Islamabad outskirts during clashes with the PTI protestors on Monday but it also did not give details about the second policeman.

Separately, Interior Minister Mohsin Naqvi said, at a late night media interaction, that more than one hundred security personnel, mostly from police, were injured and added: “One senior police officer (SP) was critically injured – he suffered a severe head injury -- due to stone-pelting by protesters.”

Radio Pakistan further reported that the Pakistan Army was called in “to deal with the miscreants with an iron hand” and “clear orders have also been issued to shoot miscreants and troublemakers on sight.”

Strongly condemning the attack on Rangers and police personnel by protesters, Prime Minister Shehbaz Sharif, in a statement, directed to immediately identify those involved in the incident and ensure they are brought to justice.

“Attacks on police and Rangers, under the guise of a so-called peaceful protest, are condemnable,” he said, adding, the anarchist group seeks bloodshed and “Pakistan cannot afford any form of chaos or bloodshed. Bloodshed for nefarious political agenda is unacceptable and highly condemnable.”

He also instructed to provide the best possible medical facilities to those injured.

Interior Minister Naqvi said the government had offered an alternative venue to the protestors to stage their activity at Sangjani in the suburbs of the capital and apparently Khan has also agreed to it.

Despite permission given by Khan, “maybe there is a leadership above Imran Khan who has refused to accept this,” he claimed and confirmed that talks were going on with the PTI to resolve the issue and that the PTI leaders were allowed to meet Khan twice on Monday to get his input.

The government is waiting for a formal response to its offer of an alternative venue for protest and “we are now waiting for PTI’s response before taking further steps,” Naqvi added.

Naqvi also warned that “come what may, the PTI would not be allowed to stage a protest at D Chowk and even hinted of imposing a curfew if needed.”

Security sources also said that all necessary measures are being taken to counter terrorist activities by disruptive and extremist elements. “All the miscreants are also being identified to bring them to justice,” the sources added.

Meanwhile, the PTI accused the authorities of using violence in which several of its supporters have been injured. A PTI spokesman told BBC Urdu that at least two supporters have also been killed but it was not confirmed from other sources so far.

Khan, 72, the PTI founder, has been in jail since August 5, 2023, and had given the ‘final call’ for the protest to force the authorities to release all prisoners, including himself, and also restore the alleged stolen mandate or victory of his party in February 8 elections as well as rescind the last month's 26th constitutional amendment allowing the government more powers over judiciary.

Earlier on Sunday, led by Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur and Khan's wife, Bushra Bibi, the PTI supporters began their journey from the militancy-hit province with a mission to make it to D-Chowk in the national capital but faced obstacles on the roads.

The D-Chowk, close to several important government buildings: the Presidency, the PM Office, the Parliament, and the Supreme Court, is a prime location in the national capital.

The authorities had blocked the highways by placing shipping containers but the protestors accompanied by lifting equipment and other heavy machines worked their way by removing hurdles, but the hurdles did skittle their speed and plans.

The convoy entered Islamabad from Sangjani toll plaza. The party also shared footage of the KP convoy in Islamabad’s limits.

The government already banned rallies by imposing Section 144, a colonial era law used to outlaw political activities, as a high level delegation from Belarus was visiting Pakistan.

At least one policeman was killed and dozen others injured in clashes on Monday as thousands of the PTI protestors entered the territorial jurisdiction of the national capital. In one of the clashes, a policeman was killed at the Hakla interchange on Islamabad outskirts.

Another constable of the Sargodha police was injured due to “firing by miscreants” and was being treated, local media said, adding, dozens of other policemen too were injured in the clashes, but exact details were not available.

As the convoy entered the capital territory in the evening, Bushra Bibi said in a video message: “My brothers, as long as Imran is not with us, we will not end this march.”

Meanwhile, as announced on Monday, all public and private educational institutions would remain closed in view of the law and order situation both at Islamabad and Rawalpindi on Tuesday.

Khan has been implicated in dozens of cases since his government was dismissed through a no-confidence motion in 2022. He has been in Adiala Jail at Rawalpindi since last year facing over 200 cases.

His party won the largest number of seats in the February general elections despite contesting as independents as the party was denied an election symbol.

The party founder has alleged that the ruling Pakistan Muslim League-Nawaz (PML-N) and its coalition partners, including the Pakistan Peoples Party (PPP), had “stolen the mandate” to grab power at the federal level.

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