China threatens to retaliate against the U.S. as Trump prepares more tariffs

China threatens to retaliate against the U.S. as Trump prepares more tariffs

The US president's interventions come amid heightened tension between protesters in Hong Kong and the Chinese government in Beijing, as pro-democracy protests enter their 11th week.

China called planned USA tariffs on an additional US$300 billion in Chinese goods a violation of accords reached by Presidents Donald Trump and Xi Jinping, signaling its intention to impose retaliatory measures.

A weaker yuan would make Chinese exports cheaper overseas and help to offset Trump's tariff hikes.

But some big names on Wall Street said that despite Trump and his administration's claims that China is bearing the brunt of the tariffs, the trade war is indeed hurting USA consumers.

But the Chinese response Thursday showed that Beijing was not appeased by the delay. "China will have to take necessary countermeasures". In a world governed by reciprocity, there will be global repercussions.

Stock markets cheered the development, with the Dow Jones Industrial Average jumping 500 points or nearly two per cent from Monday's close. "They'll have to deal with that themselves".


He said US and Chinese officials had "a very good conversation" earlier this week before his administration delayed the tariffs. Elizabeth Warren of MA have proposed even more restrictive trade policies, and many others have leveled criticisms against Trump that he is addressing the China problem in a haphazard way that endangers the US economy and constituencies who have come to rely on Chinese imports, particularly farmers in the Midwest.

Sunday's rally is being put together by the Civil Human Rights Front, a protest group that has previously been the driving force behind record-breaking rallies in June and July that saw hundreds of thousands of people hit the streets.

"It'll be good maybe for this week as we kind of get out of an oversold situation but the market is going to bounce around for the rest of the year". ME is the sole commercial producer of wild blueberries in the United States, and the industry has struggled in recent years with falling crop sizes and low prices to farmers.

The yield on United States 30-year bonds also fell to a new low, below 2% for the first time ever, once again signalling a shrinking economy.

Research firm Capital Economics said the protests could push Hong Kong into a recession and risked "an even worse outcome if a further escalation triggers capital flight". "The yield curves are all crying timber that a recession is nearly a reality, and investors are tripping over themselves to get out of the way".

Wednesday's selling was the fourth largest daily point drop on record.


"'If they don't get this Trade Deal with the USA done, China could have it first recession (or worse!) in years".

By the end of the day, there was not that much change from when the session started.

The White House, while delaying tariffs on big-ticket consumer products until December, made a decision to push ahead with 10 per cent tariffs on Chinese agricultural products as well as antiques, clothes, kitchenware and footwear from Sept 1. Stocks in Europe ended lower, but clawed back some of their earlier losses. Chinese e-commerce giant Alibaba has its latest earnings as does Walmart.

United States president Donald Trump has said he is "concerned" about the risk of a violent Chinese crackdown in Hong Kong, as protesters prepare for another weekend of rallies and demonstrations.

Despite the Shenzhen deployments, several Western and Asian diplomats in Hong Kong said they believed China had little appetite for putting its forces onto Hong Kong's streets, and a U.S. official said on Wednesday the PAP activities appeared aimed at intimidating the protesters.


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