Donald Trump hardens stand on India China pitches for'mirror tax on imports
Doesnt work. So thats called a "reciprocal tax", or "mirror tax".
"In the 19th century there had been sporadic trade wars, but I'd call them more skirmishes rather than wars", says Douglas A. Irwin, author of Trade Policy Disaster: Lessons from the 1930s. If they are at 50, or they are at 75 or they are at 25, we are going be at the same number. The US President even mentioned that the country was losing $500 billion a year to China for which there was a need to do something.
Referring to a tweet by Tesla chief Elan Musk, Trump said China charges 25 per cent duty on American cars whereas it is just 2.5 per cent on import of Chinese cars into the US.
Washington: US President Donald Trump Friday said he has agreed to meet North Korea's top leader Kim Jong-Un by May, setting the stage for a historic summit between the two leaders who have repeatedly traded insults amid spiralling tensions over Pyongyang's nuclear and missile programmes. Trump acted on the tariff matter after months of talking up an issue that has been his pet peeve for decades, going back to his days as a young businessman, although the consensus among economists was it would hurt more United States workers than it will help.
Trump, who has been irked by India's 50 per cent duty on America's Harley-Davidson motorcycles, brought up the "reciprocal tax" issue after reading out a tweet from Tesla founder Elon Musk, who pointed to China charging 25 per cent import duty on an American auto as against the U.S. charging just 2.5 per cent on a Chinese vehicle.
As Apple INC (AAPL) Valuation Rose, Northern Trust Corp Boosted Holding
The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.82 by $0.07. Employees Retirement Association Of Colorado stated it has 3.31 million shares or 3.68% of all its holdings. (NASDAQ:AAPL).
Banco Santander (SAN) PT Set at €5.50 by Royal Bank of Canada
Invictus RG acquired a new stake in shares of Banco Santander-Chile during the third quarter valued at about $217,000. Advisory Services Network LLC lifted its stake in Banco Santander Brasil by 6,501.6% during the fourth quarter.
Frida Kahlo Is a Barbie Doll Now. (Signature Unibrow Not Included.)
The doll retails for $29.99 on the official Barbie website , but is now sold out at the time of this post. The Frida Kahlo Barbie was announced on Tuesday.
On the flip side, the largest USA import from India is pharmaceuticals ($7.4 billion in 2016) and a Trump tariff on this will simply make generic medicines more expensive for Americans (drugs imported from U.S are already expensive for Indians).
He said that if these countries charge us 50 percent, the U.S. would charge them equally. He said American companies had not been treated fairly by other countries.
"So we send our vehicle over there, pay 25 per cent. So trans-shipping, frankly, is a big deal", he said.
The US, he said, is negotiating now with China. "I have a feeling we're going to make a deal on NAFTA", Trump said. "And they trans-ship, and we're going to accept their product, but it's going to cost a lot of money from the standpoint of the trans-shipper", he added. President Xi (Jinping), I have great respect for. "Its got to change", Trump said as he once again raked up the issue of high import duty on Harley-Davidson motorcycles by India. In fact, the US-EU trade DEFICIT is more than the entire volume of trade with India. We have a deficit with China of at least $500 billion. "When you add intellectual property, its much higher than that", Trump said. "And were going to be doing a lot of that", he added. It forms only a miniscule and inconsequential part of India's imports from the United States.
This is unedited, unformatted feed from the Press Trust of India wire.
Recommended News
-
10 March 2018A Plug-In Hybrid Porsche 911 Is Happening
Recall that the model Porsche 911 Turbo S current generation internal combustion engine develops power 572. Porsche will introduce the next-generation 911 before the end of the year.
10 March 2018Buzz over Neymar & Barca
PSG broke the world transfer record when they triggered Neymar's £200m release clause at Barcelona last summer. As per the report, Neymar misses his teammates back at the Camp Nou and is desperate to link up with them.
10 March 2018Tottenham 11/20 to beat Bournemouth in Sundays Premier League clash
The Cherries are in a relegation battle and with teams around them winning, they need points as well to ensure they survive. At home, Bournemouth are a unsafe side and I think they will show that again this weekend. -
Delhi: clash between Nigerian groups, one dead, one injured
As per media reports, the police have launched a probe and are ascertaining the reasons behind the scuffle between the group.
10 March 2018Virgin Atlantic unveil "three new ways to fly"
Economy Classic passengers, like those flying on an Economy Light fare, will get 31 inches of pitch (the space between rows). The airline say this will make long-haul travel affordable and accessible for millenials and those going on city breaks.
10 March 2018Jaylen Brown (concussion) out Sunday, 'probably' full week for Celtics
He even flew back to Boston with the team later that night after being thoroughly checked at a local hospital. Brown was injured Thursday night in a terrifying fall , but he has no structural damage. -
10 March 2018Modern Speed! The Rimac C_Two Electric Hypercar
The auto also includes facial recognition technology allowing the driver to unlock it with just a glance. Today they are back to step things up with a brand new design; The Rimac C_Two Electric Hypercar.
10 March 2018This Video Game Montage Explains School Shootings, According to the White House
It's clear that the White House was trying to portray video games in the most negative light possible, as it pertains to violence. The meeting was called in the wake of the recent Florida shooting in which seventeen people lost their lives.
10 March 2018Rabada could miss rest of the series
Australia claimed the wicket of first Test centurion Aiden Markram, who was leg before wicket to Pat Cummins for 11. Usman Khawaja (4), Warner, Smith (25), Shaun Marsh (24) and Mitchell Marsh (4) were out in the second session. -
Casablanca's Mohammed V airport wins Airport Service Quality Awards 2017
Mumbai's Chhatrapati Shivaji International Airport has been ranked as the World's Best Airport for customer experience. Mumbai airport operator, GVK-run Mumbai International Airport Limited (MIAL), also welcomed the honour.
10 March 2018Goldman Sachs chief Blankfein seen retiring soon
But on Twitter , Blankfein branded the report the Wall Street Journal's announcement "not mine". The exact timing on the departure by Blankfein, 63, could change, according to the WSJ report.
10 March 2018Pennsylvania state GOP lawmaker gets restraining order against fellow Republican
Nick Miccarelli, R-Delaware, speaks during a news conference February 5, 2018, in the Capitol Media Center in Harrisburg. Miccarelli". "It has taken me years and years to identify that I, myself, was a victim of this violence".
