Wednesday, 26 September, 2018

USA trade gap rises to $56.6B, highest since 2008

Chinese Foreign Minister Wang Yi Chinese Foreign Minister Wang Yi
Lisa Bryan | 10 March, 2018, 01:47

The Shanghai Cooperation Organisation has a "bounden duty to maintain peace and stability in our region and beyond", Wang told reporters at a news conference held on the fringes of the ceremonial legislature's annual meeting.

Most economists say they are caused by bigger economic forces, mainly the fact that the United States consistently spends more than it produces.

China has repeatedly accused countries outside the region - generally a reference to the United States and Japan - of trying to provoke trouble in the South China Sea while China and its neighbours are trying to resolve the matter through diplomacy.

Trade tensions between China and United States have risen since Trump took office. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with.

While Beijing has launched warning shots-like trade investigations into USA goods such as sorghum, and hinted it could even take on soybeans, its largest US import-officials have worked to find a peaceful resolution.

Chinese foreign minister said on Thursday that China will respond as necessary in the event of a trade war with the U.S., warning that such a war would only harm all sides. On Wednesday, Trump hinted that his restrictions on trade could run even deeper, citing China's alleged theft of intellectual property.


"China would have to make a justified and necessary response", he said. "But there are few alternative sources for the main products the U.S. buys from China", the research firm said in a note on Wednesday.

When Liu He, a senior Chinese official involved in shaping Beijing's economic policies, visited Washington last week to discuss bilateral trade with U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn. A $1 billion reduction is a drop in the bucket considering the fact that the USA trade deficit with China in 2017 was $375 million.

"The lessons of history show engaging in a trade war is never the right way to resolve problems", said foreign minister Wang.

"The bigger picture is that while China's trade surplus with most of the world has declined during the past year...its surplus with the US has continued to expand", said Julian Evans-Pritchard, China Economist at Capital Economics in a note.

U.S. President Donald Trump pressed ahead with the imposition of 25 percent tariffs on steel imports and 10 percent for aluminium on Thursday. He blames persistent deficits on abusive practices by US trading partners and on bad trade deals that put American companies at a disadvantage or encourage them to move factories overseas.

Recommended

  • Kawhi Leonard Wants to Finish Career with the Spurs

    Kawhi Leonard Wants to Finish Career with the Spurs

    They understand the situation that I'm in. "We don't want to take any steps back and just aggravate things", Leonard continued. I feel better, and I'm feeling more comfortable", Leonard told reporters on Wednesday (Thursday AEDT), via ESPN .
    Technical issue causes huge delays at Sydney Airport

    Technical issue causes huge delays at Sydney Airport

    It affected systems including the airport's CCTV, meaning passengers could not be screened for about two hours. All the systems were operating as normal by late morning, the airport said in its Twitter page.
    Collapse of Iran nuclear deal would be 'great loss', IAEA tells Trump

    Collapse of Iran nuclear deal would be 'great loss', IAEA tells Trump

    A collapse of the Iran nuclear deal would be a "great loss", the United Nations atomic watchdog's chief warned U.S. They also slammed Le Drian's remarks about negotiating the agreement and called for him to officially apologize.
  • Geneva Motor Show: The Rimac C_Two

    Geneva Motor Show: The Rimac C_Two

    Those are all made possibility by eight cameras, lidar, six radars, 12 ultrasonic sensors and Global Positioning System . Rimac is only expected to produce 100 of these supercharged cars, estimated to sell for just over a million euros each.
    India's Top Court Legalizes Passive Euthanasia, Living Will

    India's Top Court Legalizes Passive Euthanasia, Living Will

    Meantime, a non-government organisation approached the top court with a plea to also legalise the right to a living will . The case Indians associate most with euthanasia is that of Aruna Shanbaugh, who spent 42 years in a vegetative state.
    Will cooperate, ex-Trump aide says

    Will cooperate, ex-Trump aide says

    Nunberg and his lawyer are free to petition Mueller to narrow the scope of the subpoena. Trump. "Why do I have to spend 80 hours going over my email? I have a life".
  • A Gunman Has Reportedly Taken Hostages At A Veterans' Home In California

    A Gunman Has Reportedly Taken Hostages At A Veterans' Home In California

    Residents were temporarily evacuated from the veterans home in October when fires raged through Napa County. Local outlets, citing police radio chatter, reported that the gunman is armed with an automatic weapon.
    Delegates endorse lifting term limits for China's presidency

    Delegates endorse lifting term limits for China's presidency

    But the U.S. defense budget continues to be several times larger than China's, military experts argued. "It's an evolution. China will also actively expand imports this year as it aims to further open up its market, said Li.
    Oscars 2018: Gary Oldman wins his first Academy Award for 'Darkest Hour'

    Oscars 2018: Gary Oldman wins his first Academy Award for 'Darkest Hour'

    It's obvious many in Hollywood are willing to honour male artists for their art - regardless of their violent pasts. "And Gary and I are friends, so its been very good and been very nice for our son, I think", she added.
  • Trump Effect: 313000 new jobs in February blowing out expectations

    Trump Effect: 313000 new jobs in February blowing out expectations

    Gene Peters, chief executive of Rosnet, a restaurant software company, has had to offer higher pay to attract new workers. The unemployment rate is still at a 17-year low of 4.1% and the labor-force participation rate rose.
    PUBG has

    PUBG has "much work to do" on esports

    We've worked hard over the past 2 years to build a good foundation for the most realistic Battle Royale experience out there. And server stability, connection speeds, and dealing with cheaters remains the studio's first priority in 2018.
    Jeff Sessions calls out California on immigration failures after announcing lawsuit

    Jeff Sessions calls out California on immigration failures after announcing lawsuit

    Immigration and Customs Enforcement officers from making deportation arrests and singled out elected officials for their actions. Attorney General Jeff Sessions in Sacramento, Calif., a day after Sessions sued California over its sanctuary laws.

U.S. top diplomat in Kenya for three-day visit U.S.  top diplomat in Kenya for three-day visit Trump's latest budget proposal in February slashed spending for Africa by 37%, down $3.1 billion from current levels. He also said the country had a "problem" with its judiciary that needed to be fixed.

Turkey termed as 'triangle of evil' by Saudi prince Turkey termed as 'triangle of evil' by Saudi prince During the meeting, they reviewed the Saudi-British relations in various fields and the opportunities to develop them. Foreign policy issues, including Yemen and Iran, are expected to feature in the talks.

Chip & Joanna Gaines Announce the Gender of Baby Number 5 Chip & Joanna Gaines Announce the Gender of Baby Number 5 Oh, and one more fun thing we got to see this weekend is a more obvious baby bump on Joanna , free from flowy dresses. When Joanna posted a video of her sonogram her hubby at the time was certain he knew the sex of their fifth child.

Alabama Basketball: Sexton's Buzzer Beater Lifts Tide in SEC Tourney Alabama Basketball: Sexton's Buzzer Beater Lifts Tide in SEC Tourney Vegas has been spot on when setting the O/U total of Aggies games, with an even split between overs and unders. The Alabama Crimson Tide (17-14) are riding in a five-game losing streak before entering the postseason.

Paul Manafort Denies US Fraud Charges, This Time in Virginia Paul Manafort Denies US Fraud Charges, This Time in Virginia Manafort, once again, have nothing to do with Russian Federation and 2016 election interference/collusion", the statement said. Manafort, 68, faces up to 305 years in prison if found guilty of all charges associated with the Virginia indictment.

India's top court upholds marriage in alleged case of 'Love Jihad' India's top court upholds marriage in alleged case of 'Love Jihad' Chandrachud said: "Hadiya alias Akhila Asokan is at liberty to pursue her future endeavours according to law". A top court bench allowed Ms Jahan to leave her father's custody and resume her studies in November.

Mark Hamill bags Hollywood star, with no wars required Mark Hamill bags Hollywood star, with no wars required Lucas also weighs in, praising the actor for his enthusiasm that was the quality he was looking for in Luke Skywalker . Ford took time to honor the third member of their trio, the late Carrie Fisher , who famously played Princess Leia .

Luigi's Mansion Remake Announced for 3DS Luigi's Mansion Remake Announced for 3DS It was one of the few surprise 3DS games that Nintendo revealed during today's Direct presentation. Additionally, the in-game map will now be displayed on the bottom touch screen for ease of use.

Android P final release coming Q3 2018 Android P final release coming Q3 2018 Devices are now also able to subscribe to different update channels thanks to the new APIs that have been added to UpdateManager. I personally think that anything involving "Pie" is not sweet enough, not to mention that pies do not come in many colors.

White House Defends Kellyanne Conway's Violation of Federal Ethics Rules White House Defends Kellyanne Conway's Violation of Federal Ethics Rules In a separate appearance on CNN's New Day on December 6, Conway encouraged voters to support Republican Roy Moore over Jones. No, it's the other Office of Special Counsel, not Robert Mueller , and it's not going to get anyone prosecuted either.

IL sees 66 percent jump in emergency room visits for opioid overdoses IL  sees 66 percent jump in emergency room visits for opioid overdoses The Chicago Tribune reports the Centers for Disease Control and Prevention on Tuesday released state emergency room data . And common painkillers don't have side effects, such as leading people into opioid addiction, the study concluded.

China: Abolishing presidential term limits good for governance China: Abolishing presidential term limits good for governance The remarks were made during a closed-door fundraiser when Trump addressed supporters at his Mar-a-lago estate in Florida. I think it's great. "Maybe we'll have to give that a shot someday", while the audience applauded and cheered.

Rex Tillerson mourns and lauds Kenya on eve of Africa visit Rex Tillerson mourns and lauds Kenya on eve of Africa visit About $184 million is for affected populations from South Sudan and more than $110 million for affected populations from Ethiopia. The U.S. planned to direct $128 million to help with Nigeria and the Lake Chad region nations.

Rams RB Todd Gurley is not happy about the Alec Ogletree trade Rams RB Todd Gurley is not happy about the Alec Ogletree trade The Chiefs could have probably afforded that but it would've made it hard to sign other players in the coming years. The New York Giants have agreed to give up two 2018 draft picks for linebacker Alex Ogletree of the Rams .

CDC officials say flu season has finally peaked CDC officials say flu season has finally peaked Locally, officials haven't found this flu season to be much different from past flu seasons. The restrictions, which prohibit children younger than 12 from visiting, remains in effect.