Picture: AFP Sofia. Natural gas, the cleanest and fastest-growing fossil fuel, has found itself in perhaps the oddest corner of the multi-billion dollar trade war between the world’s two biggest economies, Bloomberg reports. When the U.S. added duties to $34 billion of Chinese goods last month, China retaliated with its own list that included piped natural gas from the U.S. And when President Donald Trump added $200 billion worth of items to the possible tariff list Tuesday, he included liquefied natural gas from China. © 2018 All rights reserved. Citing Focus Information Agency is mandatory! … [Read more...] about Bloomberg: China and U.S. Impose Tariffs on Trade Flows That Don’t Exist
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Natural gas, the cleanest and fastest-growing fossil fuel, has found itself in perhaps the oddest corner of the multi-billion dollar trade war between the world’s two biggest economies.When the U.S. added duties to $34 billion of Chinese goods last month, China retaliated with its own list that included piped natural gas from the U.S. And when President Donald Trump added $200 billion worth of items to the possible tariff list Tuesday, he included liquefied natural gas from China.Of course, neither trade flow exists. China is the world’s second-biggest importer of LNG and doesn’t have any liquefaction plants capable of exporting the fuel. And, unless someone built a 6,200-mile subsea pipeline that everyone was hitherto unaware of, the U.S. doesn’t export any piped gas to China.Gas isn’t the only item that’s being sucked incongruously into the trade dispute. For example, the U.S. included live trout in the most recent list of tariffs, even though the … [Read more...] about China and U.S. Impose Tariffs on Trade Flows That Don’t Exist
The United States is “opening fire” on the world with its threatened tariffs, the Chinese government warned on Thursday, saying Beijing will respond the instant U.S. measures go into effect as the two locked horns in a bitter trade war, Reuters reports. The Trump administration’s tariffs on $34 billion of Chinese imports are due to go into effect at 12.01 am eastern time on Friday (0401 GMT Friday), which is just after midday on Friday Beijing time. U.S. President Donald Trump has threatened to escalate the trade conflict with tariffs on as much as a total of $450 billion in Chinese goods if Beijing retaliates, with the row roiling financial markets including stocks, currencies and global trade of commodities from soy beans to coal. China has said it will not “fire the first shot”, but its customs agency made clear on Thursday that Chinese tariffs on U.S. goods will take effect immediately after Washington’s duties on Chinese goods kick in. Speaking … [Read more...] about China warns U.S. ‘opening fire’ on world with tariff threats
China’s President Xi Jinping told U.S. President Donald Trump in a telephone call on Tuesday that the two countries should strive to find a way to properly resolve trade disputes, Chinese state media said, Reuters reports. Xi also told Trump that China supports a summit between the United States and North Korea and hoped that the two sides could build mutual trust, and that the U.S. side would consider North Korea’s reasonable security concerns, Chinese state television reported. Follow Trend on Telegram. Only most interesting and important news … [Read more...] about Xi tells Trump China and U.S. should properly resolve trade disputes
India is seeking more oil, drones and aircraft from the U.S. to help narrow its $28 billion trade surplus amid rising concerns of possible collateral damage to its economy from President Donald Trump’s trade spat with China.Asia’s third-largest economy could bridge the surplus by up to $4 billion through oil imports alone, government officials said, asking not to be identified as they are not authorized to speak to the media.India is among partner countries seeking to allay U.S. trade deficit fears by raising imports as the Trump administration redraws bilateral trade plans and seeks to alter world trade norms. Earlier this month the U.S. added India to a list of countries it’s monitoring for possible currency manipulation aimed at boosting exports. India, which denied its central bank interventions help exports, fits one of the main criteria for countries making the list -- a bilateral trade surplus of at least $20 billion.Along with South Korea, India was the only … [Read more...] about Trump Trade War Spurs India to Import More Oil, Drones From U.S.