China presses Europe for anti-US alliance on trade

China presses Europe for anti-US alliance on trade

The EU has targeted $3.2 billion in American goods exported to the 28-member bloc, including bourbon and Harley Davidson motorcycles. European carmakers produce 3 million cars in the United States, with 60 percent exported, thus improving America's balance of payments.

For example, the Chamber said Texas could see $3.9 billion USA worth of exports targeted by retaliatory tariffs; Tennessee, $1.4 billion United States; and SC, $3 billion US.

For example, when Trump initially chose to start slapping tariffs on foreign governments' goods, White House trade czar Peter Navarro said he didn't think any country would retaliate.

As a trading partner, the European Union is "possibly as bad as China, only smaller", US President Donald Trump said in an interview with the right-wing Fox News channel on Sunday.

TRADE TENSIONS: Investors continued to monitor trade tensions between the USA and other major economies.

Barring a last-minute breakthrough, the Trump administration on Friday will start imposing tariffs on $34 billion in Chinese imports. This weekend, Ottawa imposed tariffs on USA goods worth around $12.6 billion.

That came on top of the tariffs on Chinese steel and aluminum that went into effect in late March - measures that prompted Beijing to slap punitive duties on 128 US goods, including pork, wine and certain pipes.

French convict escapes from prison via a helicopter
Faid was convicted for the murder of the policewoman along with two accomplices, all considered involved in the deadly shooting. The gunmen then removed Faid from the visiting room, where he had been talking with his brother, and fled in the helicopter.

Jeff Schuster, the senior vice president of forecasting at LMC Automotive, told USA Today that a 25 percent tariff on the imports would probably cause prices for each vehicle to rise by about $4,000 to $5,000.

According to Foreign Minister Chrystia Freeland, Canada is working closely with the European Union and Mexico to take on the USA economic machine. "They treat us very unfairly".

Canada retaliated with $12.6 billion in tariffs against American-made products after the Trump administration targeted steel and aluminum imports with new tariffs.

579,300 SC jobs are supported by worldwide trade, the Chamber estimates.

Mr Trump has threatened to impose a 20 per cent levy on cars from the EU. The tariff which will apply to parts imported from China - circuit boards and "associated components" eg pretty much all of the electrical components many manufacturers in the USA use to source their parts will come into force on July 6th, as part of a wider set of tariffs including those from the EU.

In meetings in Brussels, Berlin and Beijing, senior Chinese officials, including Vice Premier Liu He and the Chinese government's top diplomat, State Councillor Wang Yi, have proposed an alliance between the two economic powers and offered to open more of the Chinese market in a gesture of goodwill. Their shipments will now be subject to a 25 percent tariff, which will instantly make their crops far costlier in China.

In a letter to U.S. authorities, the European Commission, which handles trade policy for the bloc's 28 members, painted a stark picture of what the USA economy would face if Trump followed through on his threat.

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