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Foreign Titbits: US imposes new tariffs on $200bn of Chinese goods

Chinwe Maduagwu with Agency Report by Chinwe Maduagwu with Agency Report
September 18, 2018
in Top News
Foreign Titbits: US imposes new tariffs on $200bn of Chinese goods
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The US is imposing new tariffs on $200bn (£150bn) worth of Chinese goods as it escalates its trade war with Beijing.

The higher import taxes will apply to almost 6,000 items, marking the biggest round of US tariffs so far.

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Handbags, rice and textiles will be included, but some items expected to be targeted such as smart watches and high chairs have been excluded.

China has previously vowed to retaliate against any further US tariffs.

The taxes will take effect from September 24, starting at 10% and increasing to 25% from the start of next year unless the two countries agree a deal.

President Donald Trump said the latest round of tariffs was in response to China’s “unfair trade practices, including subsidies and rules that require foreign companies in some sectors to bring on local partners.

“We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly.

“But, so far, China has been unwilling to change its practices,” he said.

He also warned that if China retaliated then the US would “immediately pursue phase three” which would mean imposing further tariffs with taxes on another $267bn worth of Chinese products.

If he does go ahead with a further $267bn worth of tariffs, it would mean virtually all of China’s US exports would be subject to new duties.

Chinese stock markets opened lower on Tuesday.

This latest round marks the third set of tariffs put into motion so far this year.

In July, the White House increased charges on $34bn worth of Chinese products.

Then last month, the escalating trade war moved up a gear when the US brought in a 25% tax on a second wave of goods worth $16bn.

This latest round means that around half of all Chinese imports to the US are now subject to the new duties.

It is also the biggest set of tariffs to date, and unlike the earlier rounds this latest list targets consumer goods, such as luggage and furniture, which means regular households may start to feel the impact from higher prices.

US companies have already said they are worried about the effect of higher costs on their businesses and warned of the risk of job cuts.

READ ALSO: Foreign Titbits: Brett Kavanaugh ‘sexual assault victim’ speaks out

 

Russian military plane vanishes from radar over Syria

A Russian military aircraft with 14 people on board has disappeared from radar after flying over Syria, Russia’s defence ministry says.

“Connection has been lost with the crew of a Russian Il-20 plane over the Mediterranean Sea,” the ministry said.

Contact was lost at about 23:00 local time (20:00 GMT) on Monday, it added.

Russia began military strikes in Syria in 2015 after a request from President Bashar al-Assad, who has stayed in power despite seven years of civil war.

The conflict has so far killed more than 350,000 people.

The incident on Monday reportedly occurred about 35km (22 miles) from the Syrian coast as the Ilyushin Il-20 aircraft was returning to Russia’s Hmeimim airbase near the north-western city of Latakia.

“The trace of the Il-20 on flight control radars disappeared during an attack by four Israeli F-16 jets on Syrian facilities in Latakia province,” Russia’s Tass news agency reported.

“At the same time Russian air control radar systems detected rocket launches from the French frigate Auvergne, which was located in that region.”

The fate of the aircraft and those on board is not yet known.

A search and rescue operation is under way, co-ordinated through personnel located at the Hmeimim base, the ministry added.

A French military spokesman told AFP news agency: “The French army denies any involvement in this attack.”

Meanwhile, the Israeli military refused to comment on reports its planes targeted facilities in the Latakia area on Monday, saying: “We don’t comment on foreign reports.”

A US Pentagon spokesman said: “The missiles were not fired by the US military and we have nothing further at this time.”

However, an unnamed US official said Washington believed the plane was accidentally shot down with anti-aircraft artillery by the Syrian government, Reuters reports.

The Syrian government has not yet commented on the incident.

Tags: $200bnChinese goodsForeign Titbitsimposesnew tariffsNIGERIA NEWSUSworld news
Chinwe Maduagwu with Agency Report

Chinwe Maduagwu with Agency Report

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