India to hike tariffs on US goods by next week. India to impose tariffs on American Almonds, Walnuts. In 2018 India was one of the largest buyers of US Almonds. Tariffs will be on US goods worth over $220 Mn.

Report : India to hike tariffs on US Goods

<a href="https://www.wionews.com/world/modi-reduced-tariffs-on-harley-davidson-motorcycles-by-50-i-said-it-was-still-unacceptable-trump-226103">Modi reduced tariffs on Harley Davidson motorcycles by 50%, I said it was still unacceptable: Trump</a>

US President Donald Trump said that even though&nbsp;India has reduced its import tariff&nbsp;on American motorcycles from 100 per cent to 50 per cent, it is still too high and not acceptable to him.

<a href="https://www.wionews.com/entertainment/amitabh-bachchans-twitter-account-gets-hacked-profile-picture-changed-to-pak-pms-226100">Amitabh Bachchan's Twitter account gets hacked, profile picture changed to Pak PM's</a>

Superstar Amitabh Bachchan's twitter account&nbsp;is the latest star account to fall prey to hackers. The actor's Twitter account was reportedly hacked on Monday night by a Turkish hacker group called Ayyildiz Tim.&nbsp;

<a href="https://www.wionews.com/world/helicopter-pilot-presumed-killed-in-crash-atop-fog-shrouded-manhattan-skyscraper-226099">Helicopter pilot presumed killed in crash atop fog-shrouded Manhattan skyscraper</a>

A helicopter crashed onto the fog-shrouded roof of a midtown Manhattan skyscraper on Monday, killing at least one person and unnerving a city still scarred by memories of September 11, 2001, airplane attacks on the World Trade Center.

<a href="https://www.wionews.com/india-news/2-terrorists-killed-in-encounter-in-jammu-and-kashmirs-shopian-226106">2 terrorists killed in encounter in Jammu and Kashmir's Shopian</a>

Two terrorists were killed in an encounter with security forces in Shopian district of Jammu and Kashmir Tuesday, police said. Security forces launched a cordon and search operation in Awneera area of Shopian in early hours after receiving information about the presence of terrorists there, a police spokesman said.

<a href="https://www.wionews.com/world/s-400-row-turkish-pilots-halt-operations-at-us-air-base-in-arizona-226110">S-400 row: Turkish pilots halt operations at US air base in Arizona</a>

Training by Turkish pilots on&nbsp;F-35 fighter jets&nbsp;has come to a faster-than-expected halt at a US air base in Arizona, US officials said on Monday, as the United States winds down Ankara's involvement in the program over Turkey's plans to buy a Russian air defence system.

&nbsp;

Modi reduced tariffs on Harley Davidson motorcycles by 50%, I said it was still unacceptable: Trump US President Donald Trump said that even though India has reduced its import tariff on American motorcycles from 100 per cent to 50 per cent, it is still too high and not acceptable to him.

Modi reduced tariffs on Harley Davidson motorcycles by 50%, I said it was still unacceptable: Trump US President Donald Trump said that even though India has reduced its import tariff on American motorcycles from 100 per cent to 50 per cent, it is still too high and not acceptable to him. Amitabh Bachchan's Twitter account gets hacked, profile picture changed to Pak PM's Superstar Amitabh Bachchan's twitter account is the latest star account to fall prey to hackers. The actor's Twitter account was reportedly hacked on Monday night by a Turkish hacker group called Ayyildiz Tim. Helicopter pilot presumed killed in crash atop fog-shrouded Manhattan skyscraper A helicopter crashed onto the fog-shrouded roof of a midtown Manhattan skyscraper on Monday, killing at least one person and unnerving a city still scarred by memories of September 11, 2001, airplane attacks on the World Trade Center. 2 terrorists killed in encounter in Jammu and Kashmir's Shopian Two terrorists were killed in an encounter with security forces in Shopian district of Jammu and Kashmir Tuesday, police said. Security forces launched a cordon and search operation in Awneera area of Shopian in early hours after receiving information about the presence of terrorists there, a police spokesman said. S-400 row: Turkish pilots halt operations at US air base in Arizona Training by Turkish pilots on F-35 fighter jets has come to a faster-than-expected halt at a US air base in Arizona, US officials said on Monday, as the United States winds down Ankara's involvement in the program over Turkey's plans to buy a Russian air defence system.

News brief: Big stories of the day

US President Donald Trump said China will be left with no other option but to enter into a <a href="https://www.wionews.com/world/will-slap-huge-new-tariffs-on-china-if-president-xi-doesnt-show-up-trump-ahead-of-g20-meeting-226081">trade deal with the United States</a> because his increased tariffs on Chinese products is having an impact on its economy.

"The China deal is going to work out. You know why, because of tariffs, because right now <a href="https://www.wionews.com/business-economy/china-exports-grow-despite-us-tariffs-but-import-slump-most-in-nearly-three-years-225842">China is getting absolutely</a> decimated by companies that are leaving China going to other countries, including our own, because they don't want to pay the tariffs," Trump told CBS news in an interview.

In recent months, Trump has imposed additional tariffs on Chinese products worth $200 billion and he has ordered for another round of tariffs on rest of the Chinese imports amounting to $300 billion.

"And China will, in my opinion, based on a lot of facts and a lot of knowledge, China is going to make a deal because they're going to have to make a deal," he said.

"China will subsidise their product because they want to keep people working. So China is going to pay a lot. We have put 25 percent on $250 billion of Chinese goods coming into our country, including $50 billion of high-technology equipment and things," he said.

"You haven't seen any or virtually any price increase because what China does basically their companies - they subsidise their companies because they want to keep people working. They want to stay competitive. We have another $300 billion to go with China," he said.

"I haven't done that because it's a very big thing for them, not for us. For us it's not going to matter because we'll be able to buy the product in other countries that don't have the tariffs. So it's not going to have an effect,"&nbsp;said the US president.

Later in the day, Trump told reporters that he will meet Chinese President Xi Jinping in Japan later this month on the sidelines of the G-20 Summit. Some reports say that Xi might skip the G-20 summit.

"I think President Xi of China -- great relationship with him -- I think he'll be there. We are scheduled to talk and to meet. I think interesting things will happen. Let's see what happens," he said in response to a question.

"Right now, we're getting 25 per cent on $250 billion worth of goods. That's a lot of money that's pouring into our Treasury. We've never gotten 10 cents from China. Now we're getting a lot of money from China. I think that's one of the reasons that GDP was so high in the first quarter, because of the tariffs that we've taken in from China," he said.

"We always have the option to raise it another $300 billion at 25 per cent. And the 25 per cent could be much higher than 25 per cent," he asserted.

US President Donald Trump said China will be left with no other option but to enter into a trade deal with the United States because his increased tariffs on Chinese products is having an impact on its economy.

US President Donald Trump said China will be left with no other option but to enter into a trade deal with the United States because his increased tariffs on Chinese products is having an impact on its economy. "The China deal is going to work out. You know why, because of tariffs, because right now China is getting absolutely decimated by companies that are leaving China going to other countries, including our own, because they don't want to pay the tariffs," Trump told CBS news in an interview. In recent months, Trump has imposed additional tariffs on Chinese products worth $200 billion and he has ordered for another round of tariffs on rest of the Chinese imports amounting to $300 billion. "And China will, in my opinion, based on a lot of facts and a lot of knowledge, China is going to make a deal because they're going to have to make a deal," he said. "China will subsidise their product because they want to keep people working. So China is going to pay a lot. We have put 25 percent on $250 billion of Chinese goods coming into our country, including $50 billion of high-technology equipment and things," he said. "You haven't seen any or virtually any price increase because what China does basically their companies - they subsidise their companies because they want to keep people working. They want to stay competitive. We have another $300 billion to go with China," he said. "I haven't done that because it's a very big thing for them, not for us. For us it's not going to matter because we'll be able to buy the product in other countries that don't have the tariffs. So it's not going to have an effect," said the US president. Later in the day, Trump told reporters that he will meet Chinese President Xi Jinping in Japan later this month on the sidelines of the G-20 Summit. Some reports say that Xi might skip the G-20 summit. "I think President Xi of China -- great relationship with him -- I think he'll be there. We are scheduled to talk and to meet. I think interesting things will happen. Let's see what happens," he said in response to a question. "Right now, we're getting 25 per cent on $250 billion worth of goods. That's a lot of money that's pouring into our Treasury. We've never gotten 10 cents from China. Now we're getting a lot of money from China. I think that's one of the reasons that GDP was so high in the first quarter, because of the tariffs that we've taken in from China," he said. "We always have the option to raise it another $300 billion at 25 per cent. And the 25 per cent could be much higher than 25 per cent," he asserted.

China getting decimated because companies leaving them: Trump

Understanding US-Mexico immigration deal and what drives Central American families to migrate

Mexico will take "unprecedented steps" to stem the flow of Central American migrants transiting the country to the United States, including by deploying National Guard troops, the countries said in a joint statement Friday.

The announcement came as the <a href="https://www.wionews.com/world/mexico-reaches-deal-with-us-on-migration-averting-tariff-war-trump-225346">US and Mexico hammered out a deal on migration</a> to avoid punishing tariffs on all Mexican imports that US President Donald Trump had threatened to put into effect on Monday.

"Mexico will take unprecedented steps to increase enforcement to curb irregular migration, to include the deployment of its National Guard throughout Mexico, giving priority to its southern border," the statement said.

Mexico would also target human smuggling and trafficking groups, the statement said.

Watch: Donald Trump calls off tariffs as US and Mexico reach deal on immigration

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Meanwhile, measures on the US side will include sending migrants who had applied for asylum back to Mexico to wait while their claims were being processed.

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Mexico will take "unprecedented steps" to stem the flow of Central American migrants transiting the country to the United States, including by deploying National Guard troops, the countries said in a joint statement Friday.

Mexico will take "unprecedented steps" to stem the flow of Central American migrants transiting the country to the United States, including by deploying National Guard troops, the countries said in a joint statement Friday. The announcement came as the US and Mexico hammered out a deal on migration to avoid punishing tariffs on all Mexican imports that US President Donald Trump had threatened to put into effect on Monday. "Mexico will take unprecedented steps to increase enforcement to curb irregular migration, to include the deployment of its National Guard throughout Mexico, giving priority to its southern border," the statement said. Mexico would also target human smuggling and trafficking groups, the statement said. Watch: Donald Trump calls off tariffs as US and Mexico reach deal on immigration × Meanwhile, measures on the US side will include sending migrants who had applied for asylum back to Mexico to wait while their claims were being processed.

Mexico promises 'unprecedented steps' to curb migration in US deal: Joint statement

Widening fallout from the US-China trade war and escalating tariff threats will test the resolve of Group of 20 finance leaders to show a united front this week, as investors worry if they can avert a global recession with dwindling policy ammunition.

Japan, which is chairing this year's G20 meetings, has said the finance leaders' meeting won't put trade issues high on the agenda and will not seek to mediate bilateral trade tensions.

But the broadening pain from the trade war will make it hard for G20 finance ministers and central bank heads to side-step the topic when they gather for a two-day meeting starting on Saturday in the southern Japan city of Fukuoka.

A senior US&nbsp;Treasury official said trade will be one of the topics of the meeting, both in the context on how it affects the global economy and how to "reduce some of the unfair trade practices that may exist."

Tensions over trade could heighten challenges for G20 finance leaders to seek common ground on how to frame the issue in a communique expected to be released after their gathering.

"The communique is always fun to do, so I anticipate we'll have some interesting conversations on trade, as well as other issues. And I expect we'll likely get to a communique, but you never know," the official told reporters earlier this week.

US&nbsp;Treasury Secretary Steven Mnuchin will meet People's Bank of China Governor Yi Gang in Fukuoka on the sidelines of the G20 gathering. Mnuchin will also hold talks with Japanese Finance Minister Taro Aso.

TRADE DAMAGE WIDENING

Relations between the United States and China have deteriorated since President Donald Trump in early May accused Beijing of reneging on commitments to change its ways of doing business with the rest of the world.

The US&nbsp;raised tariffs on Chinese imports and threatened new ones, and China retaliated. The escalation has rattled global financial markets and wiped out more than $1.5 trillion in investments worldwide, stoking fears of a global downturn.

Trump said on Thursday he would meet President Xi Jinping at a G20 leaders' summit late this month and decide afterwards whether to hit Beijing with more tariffs.

With much of the world economy still recovering from the global financial crisis a decade ago, the focus is shifting to how much dry powder central banks have left to battle the next downturn.

US&nbsp;Federal Reserve policymakers have hinted they would be ready to cut interest rates and the European Central Bank on Thursday opened the door to more stimulus if needed.

The International Monetary Fund on Wednesday warned that current and threatened US-China tariffs could cut global economic output by 0.5 per cent&nbsp;in 2020.

IMF Managing Director Christine Lagarde told Reuters that while there was no imminent threat of a global recession, such tariff threats and trade wars were "self-inflicted wounds" that must be avoided.

While the G20 communique is set to maintain the view that global growth will pick up through next year, some policymakers may flag growing risks when they speak on the sidelines of the meeting.

"There's not much the G20 can do to ease Sino-US&nbsp;trade tensions because Washington doesn't see benefit in fixing problems under a multilateral framework," said Takahide Kiuchi, a former Bank of Japan board member who is now an executive economist at Nomura Research Institute.

"If the G20 finance leaders can't talk about trade, it means they can't engage in substantial debate on the most imminent threat to the global economy."

Widening fallout from the US-China trade war and escalating tariff threats will test the resolve of Group of 20 finance leaders to show a united front this week, as investors worry if they can avert a global recession with dwindling policy ammunition.

Widening fallout from the US-China trade war and escalating tariff threats will test the resolve of Group of 20 finance leaders to show a united front this week, as investors worry if they can avert a global recession with dwindling policy ammunition. Japan, which is chairing this year's G20 meetings, has said the finance leaders' meeting won't put trade issues high on the agenda and will not seek to mediate bilateral trade tensions. But the broadening pain from the trade war will make it hard for G20 finance ministers and central bank heads to side-step the topic when they gather for a two-day meeting starting on Saturday in the southern Japan city of Fukuoka. A senior US Treasury official said trade will be one of the topics of the meeting, both in the context on how it affects the global economy and how to "reduce some of the unfair trade practices that may exist." Tensions over trade could heighten challenges for G20 finance leaders to seek common ground on how to frame the issue in a communique expected to be released after their gathering. "The communique is always fun to do, so I anticipate we'll have some interesting conversations on trade, as well as other issues. And I expect we'll likely get to a communique, but you never know," the official told reporters earlier this week. US Treasury Secretary Steven Mnuchin will meet People's Bank of China Governor Yi Gang in Fukuoka on the sidelines of the G20 gathering. Mnuchin will also hold talks with Japanese Finance Minister Taro Aso. TRADE DAMAGE WIDENING Relations between the United States and China have deteriorated since President Donald Trump in early May accused Beijing of reneging on commitments to change its ways of doing business with the rest of the world. The US raised tariffs on Chinese imports and threatened new ones, and China retaliated. The escalation has rattled global financial markets and wiped out more than $1.5 trillion in investments worldwide, stoking fears of a global downturn. Trump said on Thursday he would meet President Xi Jinping at a G20 leaders' summit late this month and decide afterwards whether to hit Beijing with more tariffs. With much of the world economy still recovering from the global financial crisis a decade ago, the focus is shifting to how much dry powder central banks have left to battle the next downturn. US Federal Reserve policymakers have hinted they would be ready to cut interest rates and the European Central Bank on Thursday opened the door to more stimulus if needed. The International Monetary Fund on Wednesday warned that current and threatened US-China tariffs could cut global economic output by 0.5 per cent in 2020. IMF Managing Director Christine Lagarde told Reuters that while there was no imminent threat of a global recession, such tariff threats and trade wars were "self-inflicted wounds" that must be avoided. While the G20 communique is set to maintain the view that global growth will pick up through next year, some policymakers may flag growing risks when they speak on the sidelines of the meeting. "There's not much the G20 can do to ease Sino-US trade tensions because Washington doesn't see benefit in fixing problems under a multilateral framework," said Takahide Kiuchi, a former Bank of Japan board member who is now an executive economist at Nomura Research Institute. "If the G20 finance leaders can't talk about trade, it means they can't engage in substantial debate on the most imminent threat to the global economy."

Trade war, tariff threats to challenge G20 finance leaders' solidarity

Facing Tough Tariffs From US, China Is Thinking About Its Options. One Of Them Could Be Restricting US Access To Rare Earth Elements. This Could Cripple Many High-Tech Devices. Watch This Report From Gravitas.

Gravitas: China's Weapon Of Choice In Trade War: Rare Earth Metals

Shares in Asia's major automakers and their suppliers sank on Friday after US&nbsp;President <a href="https://www.wionews.com/world/trump-plans-5-tariff-on-mexican-imports-over-illegal-immigration-222998">Donald Trump threatened to slap tariffs on Mexican imports</a> next month, potentially affecting vehicles made in Mexico and sold north of the border.

Trump, incensed by a surge of illegal immigrants across the southern border, said late on Thursday a tariff of 5% would be imposed on all goods coming from Mexico, increasing gradually each month until reaching 25% on October 1, unless Mexico takes immediate action.

The move is likely to hit a broad range of industries, but the auto industry looks particularly vulnerable as many global carmakers manufacture vehicles in Mexico to take advantage of its cheap labour, trade deals and its proximity to the United States, the world's second-largest auto market.

"Margins are so thin in the US market right now that there's no way that any automaker is not going to pass on these tariffs to their customers," said Janet Lewis, an analyst at Macquarie Securities.

"The unknown factor is the impact on suppliers, as components can move back and forth between Mexico, the United States and Canada up to 20 times before they make their way into assembled cars."

General Motors Co is the biggest car producer and exporter in Mexico, and its global peers Ford Motor Co, Volkswagen AG and Fiat Chrysler Automobiles NV also have manufacturing presence there.

In Japan, shares in Toyota Motor Corp fell 2% while Nissan Motor Co and Honda Motor Co fell about 3%. Mazda Motor Co took a bigger hit, tumbling nearly 7%. All four automakers operate vehicle assembly plants in Mexico, producing roughly one-third of the vehicles made in the country.

In South Korea, Hyundai Motor Co and affiliate Kia Motors Corp fell 1.1% and 4.2% respectively. Hyundai Wia Corp, which supplies auto components to the duo, fell 5.2%.

"Although we have to wait and see whether the US tariffs plan will be really implemented, this is negatively affecting investor sentiment," said Chang Moon-Su, an analyst at Hyundai Motor Securities in Seoul.

Japan's top automakers and their suppliers, including Denso Corp and Aisin Seiko Co, for decades, have been building vehicles in Mexico not only for the domestic market but also to export to the United States, taking advantage of previous free-trade agreements between the two countries.

Among them, Nissan produces the most vehicles in Mexico, and its exports to the United States account for roughly one-quarter of the firm's total vehicle sales in the country, industry experts say. Its Sentra and Versa models are made in Mexico for the US market.

Smaller rival Mazda exports about 30% of its Mexico-produced cars to the United States, while the figure for Toyota, which has been expanding US&nbsp;production of pick-up trucks, and Honda is less than 10% each.

Japanese automakers together produced about 1.25 million vehicles in Mexico in 2018.

But production in Mexico is dwarfed by the number of cars Japanese automakers produce in the United States, their single largest market, where the top three manufacturers alone produce roughly 4 million vehicles each year.

Shares in Asia's major automakers and their suppliers sank on Friday after US President Donald Trump threatened to slap tariffs on Mexican imports next month, potentially affecting vehicles made in Mexico and sold north of the border.

Shares in Asia's major automakers and their suppliers sank on Friday after US President Donald Trump threatened to slap tariffs on Mexican imports next month, potentially affecting vehicles made in Mexico and sold north of the border. Trump, incensed by a surge of illegal immigrants across the southern border, said late on Thursday a tariff of 5% would be imposed on all goods coming from Mexico, increasing gradually each month until reaching 25% on October 1, unless Mexico takes immediate action. The move is likely to hit a broad range of industries, but the auto industry looks particularly vulnerable as many global carmakers manufacture vehicles in Mexico to take advantage of its cheap labour, trade deals and its proximity to the United States, the world's second-largest auto market. "Margins are so thin in the US market right now that there's no way that any automaker is not going to pass on these tariffs to their customers," said Janet Lewis, an analyst at Macquarie Securities. "The unknown factor is the impact on suppliers, as components can move back and forth between Mexico, the United States and Canada up to 20 times before they make their way into assembled cars." General Motors Co is the biggest car producer and exporter in Mexico, and its global peers Ford Motor Co, Volkswagen AG and Fiat Chrysler Automobiles NV also have manufacturing presence there. In Japan, shares in Toyota Motor Corp fell 2% while Nissan Motor Co and Honda Motor Co fell about 3%. Mazda Motor Co took a bigger hit, tumbling nearly 7%. All four automakers operate vehicle assembly plants in Mexico, producing roughly one-third of the vehicles made in the country. In South Korea, Hyundai Motor Co and affiliate Kia Motors Corp fell 1.1% and 4.2% respectively. Hyundai Wia Corp, which supplies auto components to the duo, fell 5.2%. "Although we have to wait and see whether the US tariffs plan will be really implemented, this is negatively affecting investor sentiment," said Chang Moon-Su, an analyst at Hyundai Motor Securities in Seoul. Japan's top automakers and their suppliers, including Denso Corp and Aisin Seiko Co, for decades, have been building vehicles in Mexico not only for the domestic market but also to export to the United States, taking advantage of previous free-trade agreements between the two countries. Among them, Nissan produces the most vehicles in Mexico, and its exports to the United States account for roughly one-quarter of the firm's total vehicle sales in the country, industry experts say. Its Sentra and Versa models are made in Mexico for the US market. Smaller rival Mazda exports about 30% of its Mexico-produced cars to the United States, while the figure for Toyota, which has been expanding US production of pick-up trucks, and Honda is less than 10% each. Japanese automakers together produced about 1.25 million vehicles in Mexico in 2018. But production in Mexico is dwarfed by the number of cars Japanese automakers produce in the United States, their single largest market, where the top three manufacturers alone produce roughly 4 million vehicles each year.

Asian automaker shares hit as Trump threatens Mexico with tariffs

Who pays Trump's tariffs? China, US customers or companies

Ottawa plans to proceed "full steam ahead" on ratification of a free trade agreement with the US and Mexico, Canada's foreign affairs minister said Saturday, <a href="https://www.wionews.com/world/donald-trump-lifts-steel-aluminum-tariffs-on-canada-mexico-219657">after the neighbours scrapped reciprocal tariffs on steel and aluminum imports</a>.

Canada had been "very clear" that as long as the tariffs were in place "it would be very hard for us to move forward with ratification," Chrystia Freeland told CBC News.

On Friday, US President Donald Trump announced the lifting of tariffs on steel and aluminum imports from Canada and Mexico. Ottawa and Mexico City also announced the elimination of reciprocal duties.

The steep US tariffs imposed last year -- 25 per cent on steel and 10 per cent on aluminum -- became a major stumbling block to ratifying a new North American trade pact negotiated last year by the three countries.

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/trump-trudeau-announce-lifting-of-metals-tariffs-219522/embed" style="width:100%;max-width:560px;" width="560"></iframe>

With the removal of the obstacle, "our government now intends to move forward with the ratification," of the US-Mexico-Canada Agreement, Freeland said, describing the process as progressing "full steam ahead."

However, she did not specify when the deal would be presented to Parliament, which remains in session only until June.

Freeland acknowledged that despite the lifting of the aluminum and steel tariffs, it would be "naive" to think US protectionism is no longer a threat.

"Eternal vigilance is required," she said.

Meanwhile, Mexican President Andres Manuel Lopez Obrador said Saturday the US move to withdraw tariffs was a "triumph" for Mexico.&nbsp;

"It was a triumph for the Mexican government negotiators, a triumph of diplomacy. We even gave a bit of little help to the government of Canada. Not to brag," Lopez Obrador told reporters in the southern Mexican state of Chiapas.&nbsp;

He stressed that his administration is working toward "free trade, not a trade war."&nbsp;

Ottawa plans to proceed "full steam ahead" on ratification of a free trade agreement with the US and Mexico, Canada's foreign affairs minister said Saturday, after the neighbours scrapped reciprocal tariffs on steel and aluminum imports.

Ottawa plans to proceed "full steam ahead" on ratification of a free trade agreement with the US and Mexico, Canada's foreign affairs minister said Saturday, after the neighbours scrapped reciprocal tariffs on steel and aluminum imports. Canada had been "very clear" that as long as the tariffs were in place "it would be very hard for us to move forward with ratification," Chrystia Freeland told CBC News. On Friday, US President Donald Trump announced the lifting of tariffs on steel and aluminum imports from Canada and Mexico. Ottawa and Mexico City also announced the elimination of reciprocal duties. The steep US tariffs imposed last year -- 25 per cent on steel and 10 per cent on aluminum -- became a major stumbling block to ratifying a new North American trade pact negotiated last year by the three countries. With the removal of the obstacle, "our government now intends to move forward with the ratification," of the US-Mexico-Canada Agreement, Freeland said, describing the process as progressing "full steam ahead." However, she did not specify when the deal would be presented to Parliament, which remains in session only until June. Freeland acknowledged that despite the lifting of the aluminum and steel tariffs, it would be "naive" to think US protectionism is no longer a threat. "Eternal vigilance is required," she said. Meanwhile, Mexican President Andres Manuel Lopez Obrador said Saturday the US move to withdraw tariffs was a "triumph" for Mexico. "It was a triumph for the Mexican government negotiators, a triumph of diplomacy. We even gave a bit of little help to the government of Canada. Not to brag," Lopez Obrador told reporters in the southern Mexican state of Chiapas. He stressed that his administration is working toward "free trade, not a trade war."

Canada aims to ratify trade deal after lifting of tariffs

This segment of WION brings to you top stories of the morning from across the globe. Watch this video to get the lastes updates.

WION Speed News: Watch top national and international news of the day, May 15th, 2019

China Neglect US President Trump's Warning Not To Retaliate. Global Markets Are Struggling As Trade Disputes Between US & China Come To The Fore.

Gravitas: US-China Trade Tensions Escalate, China Announces Retaliatory Tariffs

Wall Street stocks plunged Monday, with losses on Nasdaq exceeding three per cent, after <a href="https://www.wionews.com/world/now-china-imposes-tariffs-on-60-billion-worth-of-us-goods-218421">China announced it was ramping up tariffs on US goods</a>, escalating the year-long trade dispute.

About an hour into the trading session, the Dow Jones Industrial Average was down nearly 530 points, or 2.0 per cent, at 25,412.74.

The broad-based S&amp;P 500 dropped 2.1 per cent to 2,821.61, while the tech-rich Nasdaq Composite Index tumbled 2.7 per cent to 7,7022.21.

Beijing announced Monday said it will increase tariffs on $60 billion worth of US goods from June 1, striking back after Washington more than doubled tariffs on $250 billion in Chinese goods, and also started the process to impose punitive duties on the nearly all Chinese imports.

The editor of the party-owned Chinese newspaper Global Times said on Twitter that Beijing was considering additional actions, including dumping US Treasuries, ending US agricultural purchases and reducing orders for Boeing aeroplanes.

Boeing fell 3.4 per cent. A spokesman for the company said Boeing was "confident the US and China will continue trade discussions and come to an agreement than benefits both US and Chinese manufacturers and consumers."

Other US companies with large China operations suffered big declines, including Apple, down 5.3 per cent, Caterpillar, down 4.3 per cent, Deere &amp; Company, down 5.2 per cent, General Motors, down 3.2 per cent and Starbucks, down 2.2 per cent.

Apple also was hit by news the US Supreme Court will allow an antitrust lawsuit against the iPhone maker to go forward.

The broader market retreat indicated growing concern that talks between the United States and China could fall apart.&nbsp;

US stocks posted a modest recovery on Friday following the conclusion of trade talks after both sides vowed to keep talking, even as they failed to strike a deal after months of back-and-forth, and the US tariff increase took effect.

Among other companies, Uber Technologies shed 8.0 per cent in its second trading session after faltering Friday in a market debut and closing below its initial public offering price.&nbsp;

Wall Street stocks plunged Monday, with losses on Nasdaq exceeding three per cent, after China announced it was ramping up tariffs on US goods, escalating the year-long trade dispute.

Wall Street stocks plunged Monday, with losses on Nasdaq exceeding three per cent, after China announced it was ramping up tariffs on US goods, escalating the year-long trade dispute. About an hour into the trading session, the Dow Jones Industrial Average was down nearly 530 points, or 2.0 per cent, at 25,412.74. The broad-based S&P 500 dropped 2.1 per cent to 2,821.61, while the tech-rich Nasdaq Composite Index tumbled 2.7 per cent to 7,7022.21. Beijing announced Monday said it will increase tariffs on $60 billion worth of US goods from June 1, striking back after Washington more than doubled tariffs on $250 billion in Chinese goods, and also started the process to impose punitive duties on the nearly all Chinese imports. The editor of the party-owned Chinese newspaper Global Times said on Twitter that Beijing was considering additional actions, including dumping US Treasuries, ending US agricultural purchases and reducing orders for Boeing aeroplanes. Boeing fell 3.4 per cent. A spokesman for the company said Boeing was "confident the US and China will continue trade discussions and come to an agreement than benefits both US and Chinese manufacturers and consumers." Other US companies with large China operations suffered big declines, including Apple, down 5.3 per cent, Caterpillar, down 4.3 per cent, Deere & Company, down 5.2 per cent, General Motors, down 3.2 per cent and Starbucks, down 2.2 per cent. Apple also was hit by news the US Supreme Court will allow an antitrust lawsuit against the iPhone maker to go forward. The broader market retreat indicated growing concern that talks between the United States and China could fall apart. US stocks posted a modest recovery on Friday following the conclusion of trade talks after both sides vowed to keep talking, even as they failed to strike a deal after months of back-and-forth, and the US tariff increase took effect. Among other companies, Uber Technologies shed 8.0 per cent in its second trading session after faltering Friday in a market debut and closing below its initial public offering price.

US stocks plunge on China trade retaliation

Wholesalers in eastern China expressed their dissatisfaction with US&nbsp;President Donald Trump on Friday, the day his administration followed through on its threat to <a href="https://www.wionews.com/world/deeply-regret-us-tariffs-will-take-necessary-countermeasures-china-217426">raise tariffs on Chinese exports</a>.

The US&nbsp;hiked levies on Friday to 25% for $200 billion worth of Chinese goods in the midst of last-ditch talks to rescue a trade deal. But even as Beijing threatened retaliation, negotiators in Washington agreed to stay at the table for a second day, keeping alive hopes of an eventual agreement.

Inside Yiwu International Trade City, one of the world's largest small commodity wholesale markets, several traders, all of whom mainly sell for export, told Reuters they were feeling fed up with the tariffs.

Make-up product vendor Chen Nong, whose company used to have four to five American clients and now has none, was one of them. Sports equipment wholesaler Fu Xubo, 32, had a similar story -- orders from his previous US&nbsp;clients have all but dried up, and sales to traders who buy from him to then re-sell to the United States were down 20% last year.

In Beijing on Friday, China's Commerce Ministry said it "deeply regrets" the US&nbsp;decision, adding that it would take necessary countermeasures, without elaborating.

Wholesalers in eastern China expressed their dissatisfaction with US President Donald Trump on Friday, the day his administration followed through on its threat to raise tariffs on Chinese exports.

Wholesalers in eastern China expressed their dissatisfaction with US President Donald Trump on Friday, the day his administration followed through on its threat to raise tariffs on Chinese exports. The US hiked levies on Friday to 25% for $200 billion worth of Chinese goods in the midst of last-ditch talks to rescue a trade deal. But even as Beijing threatened retaliation, negotiators in Washington agreed to stay at the table for a second day, keeping alive hopes of an eventual agreement. Inside Yiwu International Trade City, one of the world's largest small commodity wholesale markets, several traders, all of whom mainly sell for export, told Reuters they were feeling fed up with the tariffs. Make-up product vendor Chen Nong, whose company used to have four to five American clients and now has none, was one of them. Sports equipment wholesaler Fu Xubo, 32, had a similar story -- orders from his previous US clients have all but dried up, and sales to traders who buy from him to then re-sell to the United States were down 20% last year. In Beijing on Friday, China's Commerce Ministry said it "deeply regrets" the US decision, adding that it would take necessary countermeasures, without elaborating.

It's unreasonable! Chinese wholesalers fed up with tariffs as trade war escalates with US

US raises tariffs on Chinese import for goods worth $200 Bn. Watch this video for complete details.

US raises tariffs on Chinese import for goods worth $200 Bn

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China's State Council said on Sunday that the country would continue to suspend additional tariffs on US vehicles and auto parts after April 1, in a goodwill gesture following a US decision to delay tariff hikes on Chinese imports.

In December, China said it would suspend additional 25 percent tariffs on US-made vehicles and auto parts for three months, following a truce in a trade war between the world's two largest economies.

The State Council, or cabinet, said Sunday's move was aimed at "continuing to create a good atmosphere for the ongoing trade negotiations between both sides".

"It is a positive reaction to the US decision to delay tariff hikes and a concrete action adopted (by the Chinese side) to promote bilateral trade negotiations," the State Council said.

"We hope the US can work together with China, accelerate negotiations and make concrete efforts towards the goal of terminating trade tensions."

The government also said it would announce separately when the suspension would end.

US President Donald Trump said on Friday that trade talks with China were going very well, but cautioned that he would not accept anything less than a "great deal" after top US and Chinese trade officials wrapped up two days of negotiations in Beijing.

US Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer were in the Chinese capital for the first face-to-face meetings between the two sides since Trump delayed a scheduled March 2 increase in tariffs on $200 billion worth of Chinese goods.

The talks are set to resume next week in Washington with a Chinese delegation led by Vice Premier Liu He.

China's State Council said on Sunday that the country would continue to suspend additional tariffs on US vehicles and auto parts after April 1, in a goodwill gesture following a US decision to delay tariff hikes on Chinese imports.

China's State Council said on Sunday that the country would continue to suspend additional tariffs on US vehicles and auto parts after April 1, in a goodwill gesture following a US decision to delay tariff hikes on Chinese imports. In December, China said it would suspend additional 25 percent tariffs on US-made vehicles and auto parts for three months, following a truce in a trade war between the world's two largest economies. The State Council, or cabinet, said Sunday's move was aimed at "continuing to create a good atmosphere for the ongoing trade negotiations between both sides". "It is a positive reaction to the US decision to delay tariff hikes and a concrete action adopted (by the Chinese side) to promote bilateral trade negotiations," the State Council said. "We hope the US can work together with China, accelerate negotiations and make concrete efforts towards the goal of terminating trade tensions." The government also said it would announce separately when the suspension would end. US President Donald Trump said on Friday that trade talks with China were going very well, but cautioned that he would not accept anything less than a "great deal" after top US and Chinese trade officials wrapped up two days of negotiations in Beijing. US Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer were in the Chinese capital for the first face-to-face meetings between the two sides since Trump delayed a scheduled March 2 increase in tariffs on $200 billion worth of Chinese goods. The talks are set to resume next week in Washington with a Chinese delegation led by Vice Premier Liu He.

China says it will continue to suspend additional tariffs on US vehicles, auto parts

The European Union's top trade officials will update their US counterparts this week on progress in obtaining a negotiating mandate for an EU-US trade deal on industrial goods and raise concern over existing and potential future US tariffs.

EU Trade Commissioner Cecilia Malmstrom will meet US Trade Representative Robert Lighthizer on March 6 in Washington and the Secretary-General of the European Commission, Martin Selmayr, will meet the Director of the United States National Economic Council Larry Kudlow on March 7.

The European Union's executive arm, the European Commission, has the sole responsibility for negotiating trade deals for the whole 28-nation bloc of 513 million people and has been in close discussions with Washington over trade policy since last July to avert the threat of US tariffs on EU cars and car parts.

The European Commission has asked member countries to approve two negotiating mandates so that formal talks can begin. Germany is keen to start quickly, while France is reluctant.

"The discussions will focus on the next steps towards the implementation of the July 2018 Joint Statement and on the EU-US cooperation on World Trade Organisation reform and level playing field issues," Commission spokesman Margaritis Schinas said of this week's talks.

"The Commission will update the US side on the state of play of the adoption of the negotiating mandates for EU-US trade agreements on industrial goods and on conformity assessment," he said.

Rather than negotiating a comprehensive trade deal that could take a very long time, the EU is keen to reach a quicker agreement with the United States on trade in industrial goods alone, excluding agriculture that tends to be more controversial.

This could help resolve the issue of US tariffs on European steel and aluminium and avert the threat of US tariffs on EU-made cars and car parts.

"The Commission will also raise the EU's concerns on the tariffs imposed by the US on steel and aluminium products and on the possible consequences of the recently concluded investigation on whether automobile imports represent a threat to the US' national security," Schinas said.

Commission head Jean-Claude Juncker said on Feb. 18 that US tariffs on imports of European cars could mean that Europe would buy fewer soybeans and liquid gas from the United States, imports of which have jumped since July.

The European Union's top trade officials will update their US counterparts this week on progress in obtaining a negotiating mandate for an EU-US trade deal on industrial goods and raise concern over existing and potential future US tariffs.

The European Union's top trade officials will update their US counterparts this week on progress in obtaining a negotiating mandate for an EU-US trade deal on industrial goods and raise concern over existing and potential future US tariffs. EU Trade Commissioner Cecilia Malmstrom will meet US Trade Representative Robert Lighthizer on March 6 in Washington and the Secretary-General of the European Commission, Martin Selmayr, will meet the Director of the United States National Economic Council Larry Kudlow on March 7. The European Union's executive arm, the European Commission, has the sole responsibility for negotiating trade deals for the whole 28-nation bloc of 513 million people and has been in close discussions with Washington over trade policy since last July to avert the threat of US tariffs on EU cars and car parts. The European Commission has asked member countries to approve two negotiating mandates so that formal talks can begin. Germany is keen to start quickly, while France is reluctant. "The discussions will focus on the next steps towards the implementation of the July 2018 Joint Statement and on the EU-US cooperation on World Trade Organisation reform and level playing field issues," Commission spokesman Margaritis Schinas said of this week's talks. "The Commission will update the US side on the state of play of the adoption of the negotiating mandates for EU-US trade agreements on industrial goods and on conformity assessment," he said. Rather than negotiating a comprehensive trade deal that could take a very long time, the EU is keen to reach a quicker agreement with the United States on trade in industrial goods alone, excluding agriculture that tends to be more controversial. This could help resolve the issue of US tariffs on European steel and aluminium and avert the threat of US tariffs on EU-made cars and car parts. "The Commission will also raise the EU's concerns on the tariffs imposed by the US on steel and aluminium products and on the possible consequences of the recently concluded investigation on whether automobile imports represent a threat to the US' national security," Schinas said. Commission head Jean-Claude Juncker said on Feb. 18 that US tariffs on imports of European cars could mean that Europe would buy fewer soybeans and liquid gas from the United States, imports of which have jumped since July.

European Union set for trade talks with US on March 6 amid concern over tariffs

<a href="http://www.wionews.com/world/us-to-delay-china-tariff-increase-trump-199444">Trump says he is delaying tariff increase on Chinese goods</a>

The United States is delaying a planned increase of tariffs on more than $200 billion in Chinese exports after both sides hailed "substantial progress" made in trade talks.

US President Donald Trump also said Sunday that he planned to hold a summit with Chinese President Xi Jinping at his Florida estate Mar-a-Lago to ink a deal.

<a href="http://www.wionews.com/entertainment/oscars-2019-live-hollywoods-biggest-night-is-here-199432">Oscars 2019, Live: India-based 'Period: End Of Sentence' wins </a><a href="http://www.wionews.com/entertainment/oscars-2019-live-hollywoods-biggest-night-is-here-199432">best</a><a href="http://www.wionews.com/entertainment/oscars-2019-live-hollywoods-biggest-night-is-here-199432"> documentary short award</a>

Bradley Cooper and Lady Gaga get a standing ovation as they sing a mesmerising version of 'Shallow' from their film 'A Star Is Born'.&nbsp;

<a href="http://www.wionews.com/india-news/give-peace-a-chance-imran-khan-to-pm-modi-199487">Give peace a chance: Imran Khan to PM Modi</a>

Pakistan Prime Minister Imran Khan on Sunday asked his Indian counterpart Narendra Modi to "give peace a chance" and assured him that he "stands by" his words and will "immediately act" if New Delhi provides Islamabad with "actionable intelligence" on the Pulwama attack.

<a href="http://www.wionews.com/world/popes-vow-to-battle-child-sex-abuse-fails-to-appease-victims-199463">Pope vows to battle child sex abuse by </a><a href="http://www.wionews.com/world/popes-vow-to-battle-child-sex-abuse-fails-to-appease-victims-199463">Catholic</a><a href="http://www.wionews.com/world/popes-vow-to-battle-child-sex-abuse-fails-to-appease-victims-199463"> church but fails to appease victims</a>

Pope Francis on Sunday vowed to tackle every single case of sexual abuse by priests, comparing paedophilia to "human sacrifice", but drew an angry response from victims.

<a href="http://www.wionews.com/photos/oscars-red-carpet-jennifer-lopez-chadwick-boseman-rami-malek-turn-up-the-heat-199465#rami-malek-and-lucy-boynton-199433">Oscars red carpet: Jennifer Lopez, Chadwick Boseman, Rami Malek turn up the heat</a>

The 91st Academy Awards kickstarted on a glamorous note as Hollywood biggies arrived at the red carpet. From Best Actor nominee Rami Malek to Chadwick Boseman who starred in the hit film 'Black Panther', the boys gave the girls a stiff competition.&nbsp;

Trump says he is delaying tariff increase on Chinese goods The United States is delaying a planned increase of tariffs on more than $200 billion in Chinese exports after both sides hailed "substantial progress" made in trade talks.

Trump says he is delaying tariff increase on Chinese goods The United States is delaying a planned increase of tariffs on more than $200 billion in Chinese exports after both sides hailed "substantial progress" made in trade talks. US President Donald Trump also said Sunday that he planned to hold a summit with Chinese President Xi Jinping at his Florida estate Mar-a-Lago to ink a deal. Oscars 2019, Live: India-based 'Period: End Of Sentence' wins best documentary short award Bradley Cooper and Lady Gaga get a standing ovation as they sing a mesmerising version of 'Shallow' from their film 'A Star Is Born'. Give peace a chance: Imran Khan to PM Modi Pakistan Prime Minister Imran Khan on Sunday asked his Indian counterpart Narendra Modi to "give peace a chance" and assured him that he "stands by" his words and will "immediately act" if New Delhi provides Islamabad with "actionable intelligence" on the Pulwama attack. Pope vows to battle child sex abuse by Catholic church but fails to appease victims Pope Francis on Sunday vowed to tackle every single case of sexual abuse by priests, comparing paedophilia to "human sacrifice", but drew an angry response from victims. Oscars red carpet: Jennifer Lopez, Chadwick Boseman, Rami Malek turn up the heat The 91st Academy Awards kickstarted on a glamorous note as Hollywood biggies arrived at the red carpet. From Best Actor nominee Rami Malek to Chadwick Boseman who starred in the hit film 'Black Panther', the boys gave the girls a stiff competition.

US President Donald Trump threatened Wednesday to impose tariffs on European auto imports if he is unable to strike a trade deal with the EU.

"We're negotiating. If we don't make the deal, we'll do the tariffs," Trump told reporters in response to a question on new tariffs.

Trump's renewed threat against the EU auto industry takes on a new edge as it came two days after the Commerce Department delivered a report that sources said found <a href="http://www.wionews.com/world/merkel-says-us-calling-european-cars-a-threat-is-frightening-197761">European car imports constitute a national security threat to the United States</a>.

The report could set the stage for the White House to impose tariffs within 90 days, a move Brussels has vowed to parry with its own set of counter-tariffs.

Washington already has used the national security argument to impose steep tariffs on steel and aluminum imports, drawing instant retaliation from the EU, Canada, Mexico and China.

In one of many aggressive moves against US trading partners, Trump, who boasts that he favors tariffs, has threatened 25 percent duties on European autos, especially targeting Germany, which he says has harmed the American car industry.

Trump reached a truce with the EU following a meeting last July with European Commission President Jean-Claude Juncker but on Wednesday expressed frustration with the state of talks.

"We're trying to make a deal," Trump said. "They're very tough to make a deal with, the EU. They've been very difficult over a period of time, over many, many years."

However, negotiations with the EU have not yet begun. The European Commission must seek approval from member states on a negotiating mandate before it can enter into talks. EU trade ministers will meet in Bucharest on Thursday and Friday to review the proposal.

But the sides have differences over what is to be included: the US negotiating goals include agriculture, while EU officials insist that will be off limits, and talks will be restricted to industrial goods and regulatory issues.

The White House is also locked in tough, high-stakes negotiations with China to find a way to resolve the conflict that saw punishing tariffs exchanged between Beijing and Washington.

US President Donald Trump threatened Wednesday to impose tariffs on European auto imports if he is unable to strike a trade deal with the EU. "We're negotiating.

US President Donald Trump threatened Wednesday to impose tariffs on European auto imports if he is unable to strike a trade deal with the EU. "We're negotiating. If we don't make the deal, we'll do the tariffs," Trump told reporters in response to a question on new tariffs. Trump's renewed threat against the EU auto industry takes on a new edge as it came two days after the Commerce Department delivered a report that sources said found European car imports constitute a national security threat to the United States. The report could set the stage for the White House to impose tariffs within 90 days, a move Brussels has vowed to parry with its own set of counter-tariffs. Washington already has used the national security argument to impose steep tariffs on steel and aluminum imports, drawing instant retaliation from the EU, Canada, Mexico and China. In one of many aggressive moves against US trading partners, Trump, who boasts that he favors tariffs, has threatened 25 percent duties on European autos, especially targeting Germany, which he says has harmed the American car industry. Trump reached a truce with the EU following a meeting last July with European Commission President Jean-Claude Juncker but on Wednesday expressed frustration with the state of talks. "We're trying to make a deal," Trump said. "They're very tough to make a deal with, the EU. They've been very difficult over a period of time, over many, many years." However, negotiations with the EU have not yet begun. The European Commission must seek approval from member states on a negotiating mandate before it can enter into talks. EU trade ministers will meet in Bucharest on Thursday and Friday to review the proposal. But the sides have differences over what is to be included: the US negotiating goals include agriculture, while EU officials insist that will be off limits, and talks will be restricted to industrial goods and regulatory issues. The White House is also locked in tough, high-stakes negotiations with China to find a way to resolve the conflict that saw punishing tariffs exchanged between Beijing and Washington.

Trump threatens tariffs on EU if no trade deal reached

<h1></h1>

*By-&nbsp;Tom Harper

Nearly 30 years ago, Donald Trump complained on a US chat show about the trade practices of Japan. This was during Japan’s boom of the 1980s, which propelled it to become the world’s second-largest economy. Now, China has taken that spot – and Trump is using the same rhetoric to attack it.&nbsp;

China is the bugbear of Trumpian foreign policy. According to one Wall Street Journal commentator, the US president is seeking to unify the world against China just as Reagan sought to isolate the Soviet Union.

Today’s China, as America’s primary economic challenger, can be seen as the latest incarnation of the East Asian model of authoritarian state capitalism. This was pioneered by Japan with its industrialisation and development during the 19th century.

China’s current communist rulers see industrialisation as the “magic key” to Great Power status – made clear from the message behind the Made in China 2025 scheme which asserts:

Since the beginning of industrial civilisation in the middle of the 18th century, it has been proven repeatedly by the rise and fall of world powers that without strong manufacturing, there is no national prosperity. Building internationally competitive manufacturing is the only way China can enhance its strength, protect state security and become a world power.

Ironically, a variant of this approach has been praised by some British MPs, in their suggestion of the Singaporean model as an example for post-Brexit Britain to follow. But they overlook how such a model is one of state capitalism, rather than the free-market nirvana they perceive it to be.

For it is state capitalism which enabled Japan and China to become manufacturing powerhouses. They both started with cheap, poor quality goods, and then created more sophisticated innovations – see, for example, the recent moon landing of a Chinese probe, the Chang’e 4.&nbsp;

The particular nature of China’s challenge is that its authoritarian system&nbsp;undermines the assumption that capitalism and democracy go hand in hand. A capitalist China is not necessarily a democratic China.&nbsp;

The war that never came&nbsp;

The most notable parallel between the rise of Japan in the 1980s, and China today, is the rhetoric used to describe them. While this includes references to seemingly unfair practices alluded to by Trump, it is more drastically articulated in predictions that conflict lies ahead.

This was expressed by Trump’s economic advisor, Peter Navarro, in The Coming China Wars, and followed George Friedman’s 1989 bestseller The Coming War with Japan, which predicted a shooting war between the US and Japan by the turn of the century.

In addition, both today’s China – and Japan three decades ago – have been held up as a cause of economic malaise in the Western world, with politicians promising to “get tough” with these nations. Yet this repeated rhetoric also demonstrates the perils of following such a simplistic vision.

For a start, the predicted Japanese-American conflict was based on the assumption that the end of the Cold War would see a divergence between Japanese and American interests and a dissolution of their alliance. However, rather than falling as the former Soviet communist states did, China went from strength to strength. This served to reaffirm the necessity of America’s alliance with Japan as a counter-balance in Asia.

It was the alliance that granted the US a degree of leverage over Japan, as illustrated by the 1985 Plaza Accord, which, in strengthening the yen, has often been held up as one of the causes of Japan’s subsequent economic slump. Repeating this with China is a far more challenging proposition for Washington.

The similarities in the rhetoric between these periods also illustrate the flaws in placing the blame of current Western economic malaise solely on Japan or China. The former’s economic rise of the 1980s came in the period of deindustrialisation throughout much of the Western world, bringing social dislocation which has not been fully resolved.

Problems and populism&nbsp;

The West’s failure to resolve the transition from manufacturing was amplified by poor global infrastructure and the failure to resolve the causes of the 2008 crisis, which played a significant role in the rise of populism. The impact was palpable in the “Rust Belt” states of the US, and the old factory towns of northern England, focal points for Trump and Brexit respectively.&nbsp;

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These had also been among the perceived losers from the rise of Japan and China, with the belief that success in those countries came at the expense of the old industrial heartlands of the West. This is a sentiment which populist movements have been keen to exploit. Yet while the ascendant economic powers may change, the problems remain unsolved.

So while the rhetoric of the Japanese-American economic rivalry has compelling parallels with the current Sino-US trade conflict, it would be a mistake to follow these too closely. The underlying domestic structural factors behind current problems should not be overlooked in favour of externalising the causes.

Even if Trump achieves a perceived “win” over China, as his predecessors did with Japan, it does little to remedy these problems. Instead, it merely furthers temptation to blame an external “other” when the next wave of problems emerges.&nbsp;

*(Tom Harper joined the University of Surrey as a doctoral researcher after completing a masters in international relations at the University of Sussex. He is currently researching the role imperialism plays in Chinese foreign policy.)

(This article was originally published on The Conversation. Read the <a href="https://theconversation.com/trumps-trade-war-with-china-is-a-blame-game-that-has-been-played-before-against-japan-109923">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

*By- Tom Harper Nearly 30 years ago, Donald Trump complained on a US chat show about the trade practices of Japan. This was during Japan’s boom of the 1980s, which propelled it to become the world’s second-largest economy.

*By- Tom Harper Nearly 30 years ago, Donald Trump complained on a US chat show about the trade practices of Japan. This was during Japan’s boom of the 1980s, which propelled it to become the world’s second-largest economy. Now, China has taken that spot – and Trump is using the same rhetoric to attack it. China is the bugbear of Trumpian foreign policy. According to one Wall Street Journal commentator, the US president is seeking to unify the world against China just as Reagan sought to isolate the Soviet Union. Today’s China, as America’s primary economic challenger, can be seen as the latest incarnation of the East Asian model of authoritarian state capitalism. This was pioneered by Japan with its industrialisation and development during the 19th century. China’s current communist rulers see industrialisation as the “magic key” to Great Power status – made clear from the message behind the Made in China 2025 scheme which asserts: Since the beginning of industrial civilisation in the middle of the 18th century, it has been proven repeatedly by the rise and fall of world powers that without strong manufacturing, there is no national prosperity. Building internationally competitive manufacturing is the only way China can enhance its strength, protect state security and become a world power. Ironically, a variant of this approach has been praised by some British MPs, in their suggestion of the Singaporean model as an example for post-Brexit Britain to follow. But they overlook how such a model is one of state capitalism, rather than the free-market nirvana they perceive it to be. For it is state capitalism which enabled Japan and China to become manufacturing powerhouses. They both started with cheap, poor quality goods, and then created more sophisticated innovations – see, for example, the recent moon landing of a Chinese probe, the Chang’e 4. The particular nature of China’s challenge is that its authoritarian system undermines the assumption that capitalism and democracy go hand in hand. A capitalist China is not necessarily a democratic China. The war that never came The most notable parallel between the rise of Japan in the 1980s, and China today, is the rhetoric used to describe them. While this includes references to seemingly unfair practices alluded to by Trump, it is more drastically articulated in predictions that conflict lies ahead. This was expressed by Trump’s economic advisor, Peter Navarro, in The Coming China Wars, and followed George Friedman’s 1989 bestseller The Coming War with Japan, which predicted a shooting war between the US and Japan by the turn of the century. In addition, both today’s China – and Japan three decades ago – have been held up as a cause of economic malaise in the Western world, with politicians promising to “get tough” with these nations. Yet this repeated rhetoric also demonstrates the perils of following such a simplistic vision. For a start, the predicted Japanese-American conflict was based on the assumption that the end of the Cold War would see a divergence between Japanese and American interests and a dissolution of their alliance. However, rather than falling as the former Soviet communist states did, China went from strength to strength. This served to reaffirm the necessity of America’s alliance with Japan as a counter-balance in Asia. It was the alliance that granted the US a degree of leverage over Japan, as illustrated by the 1985 Plaza Accord, which, in strengthening the yen, has often been held up as one of the causes of Japan’s subsequent economic slump. Repeating this with China is a far more challenging proposition for Washington. The similarities in the rhetoric between these periods also illustrate the flaws in placing the blame of current Western economic malaise solely on Japan or China. The former’s economic rise of the 1980s came in the period of deindustrialisation throughout much of the Western world, bringing social dislocation which has not been fully resolved. Problems and populism The West’s failure to resolve the transition from manufacturing was amplified by poor global infrastructure and the failure to resolve the causes of the 2008 crisis, which played a significant role in the rise of populism. The impact was palpable in the “Rust Belt” states of the US, and the old factory towns of northern England, focal points for Trump and Brexit respectively. × These had also been among the perceived losers from the rise of Japan and China, with the belief that success in those countries came at the expense of the old industrial heartlands of the West. This is a sentiment which populist movements have been keen to exploit. Yet while the ascendant economic powers may change, the problems remain unsolved. So while the rhetoric of the Japanese-American economic rivalry has compelling parallels with the current Sino-US trade conflict, it would be a mistake to follow these too closely. The underlying domestic structural factors behind current problems should not be overlooked in favour of externalising the causes. Even if Trump achieves a perceived “win” over China, as his predecessors did with Japan, it does little to remedy these problems. Instead, it merely furthers temptation to blame an external “other” when the next wave of problems emerges. *(Tom Harper joined the University of Surrey as a doctoral researcher after completing a masters in international relations at the University of Sussex. He is currently researching the role imperialism plays in Chinese foreign policy.) (This article was originally published on The Conversation. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Trump's trade war with China is a blame game that has been played before – against Japan

US President Donald Trump boasted Tuesday that <a href="http://www.wionews.com/world/i-am-a-tariff-man-if-a-fair-deal-is-made-with-china-i-will-happily-sign-trump-181512">US-China trade negotiations were going "very well"</a> as officials held talks in Beijing that will spill into a third day.

A member of the US delegation said the two sides would resume talks on Wednesday as they continue their first face-to-face meetings since Trump and Chinese President Xi Jinping agreed to a tariff truce during a meeting in Argentina on December 1.

The talks are taking longer than expected as the Chinese commerce ministry had said last week that the meetings would take place on Monday and Tuesday.

"Talks with China are going very well!" Trump said on Twitter, but gave no further information.

The Wall Street Journal reported Tuesday the two sides were narrowing their differences, with Chinese officials offering greater purchases of US goods and services and Cabinet-level follow-up meetings expected later this month.

Word of progress briefly drove US stocks higher in early morning trading but major indices soon pared much of those gains.

The meeting between the US delegation -- led by Deputy US Trade Representative Jeffrey Gerrish and including officials from the Treasury, Commerce, Agriculture and Energy Departments -- and the Chinese side ran late into Tuesday night.

"I can confirm we are continuing tomorrow (Wednesday)," Steven Winberg, assistant energy secretary, told reporters after returning to his hotel in Beijing.&nbsp;

He declined to provide more details.

The Trump administration wants Beijing to abandon its strategy of seeking global industrial predominance through the alleged theft and forced transfer of American technology as well as massive state intervention in markets.

The truce came after the two sides imposed import duties on more than $300 billion of each other's goods.

US Commerce Secretary Wilbur Ross said Monday that China's economy was more vulnerable to the fallout from the trade war.

"It certainly has hurt the Chinese economy," Ross told CNBC, noting that China exports many more goods to the United States than the other way around.

Ross said there was a "very good chance" of reaching an agreement, although monitoring compliance would present a challenge.

Without a resolution, punitive US duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2.

Geopolitical distractions 
The second day of trade negotiations coincided with an unannounced visit by North Korean leader Kim Jong Un for talks with Xi in Beijing, amid speculation of a second meeting between Kim and Trump.

Some analysts say that China -- Pyongyang's key diplomatic ally and main source of trade -- could use Kim's visit as a bargaining chip in the US trade talks.

But Bonnie Glaser, a senior adviser at the Center for Strategic and International Studies, said the timing of the North Korean leader's arrival could be coincidental.

"I don't see any linkage with the trade talks," said Glaser.

"China's ability to use (North Korea) as leverage has diminished considerably since Trump opened his own channel to Kim," she said.

Chinese foreign ministry spokesman Lu Kang said Kim's visit and the trade talks were "two separate matters".

"China's position in the China-US trade friction and its solutions to the friction is open, it's transparent," Lu said at a regular press briefing.

"We have shown our sincerity, we have established our stand in this, so we don't need other actions to gain the confidence of the US. The US is very clear about China's stance."

A separate geopolitical issue angered China on Monday when a US Navy guided-missile destroyer sailed near disputed islands in the South China Sea -- a vast expanse claimed by Beijing.

China called it a violation of its sovereignty that has damaged "peace, safety and order" in the waterway.

The United States periodically sends planes and warships through the area to signal to Beijing its right under international law to pass through the waters. 
&nbsp;

US President Donald Trump boasted Tuesday that US-China trade negotiations were going "very well" as officials held talks in Beijing that will spill into a third day.

US President Donald Trump boasted Tuesday that US-China trade negotiations were going "very well" as officials held talks in Beijing that will spill into a third day. A member of the US delegation said the two sides would resume talks on Wednesday as they continue their first face-to-face meetings since Trump and Chinese President Xi Jinping agreed to a tariff truce during a meeting in Argentina on December 1. The talks are taking longer than expected as the Chinese commerce ministry had said last week that the meetings would take place on Monday and Tuesday. "Talks with China are going very well!" Trump said on Twitter, but gave no further information. The Wall Street Journal reported Tuesday the two sides were narrowing their differences, with Chinese officials offering greater purchases of US goods and services and Cabinet-level follow-up meetings expected later this month. Word of progress briefly drove US stocks higher in early morning trading but major indices soon pared much of those gains. The meeting between the US delegation -- led by Deputy US Trade Representative Jeffrey Gerrish and including officials from the Treasury, Commerce, Agriculture and Energy Departments -- and the Chinese side ran late into Tuesday night. "I can confirm we are continuing tomorrow (Wednesday)," Steven Winberg, assistant energy secretary, told reporters after returning to his hotel in Beijing. He declined to provide more details. The Trump administration wants Beijing to abandon its strategy of seeking global industrial predominance through the alleged theft and forced transfer of American technology as well as massive state intervention in markets. The truce came after the two sides imposed import duties on more than $300 billion of each other's goods. US Commerce Secretary Wilbur Ross said Monday that China's economy was more vulnerable to the fallout from the trade war. "It certainly has hurt the Chinese economy," Ross told CNBC, noting that China exports many more goods to the United States than the other way around. Ross said there was a "very good chance" of reaching an agreement, although monitoring compliance would present a challenge. Without a resolution, punitive US duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2. Geopolitical distractions The second day of trade negotiations coincided with an unannounced visit by North Korean leader Kim Jong Un for talks with Xi in Beijing, amid speculation of a second meeting between Kim and Trump. Some analysts say that China -- Pyongyang's key diplomatic ally and main source of trade -- could use Kim's visit as a bargaining chip in the US trade talks. But Bonnie Glaser, a senior adviser at the Center for Strategic and International Studies, said the timing of the North Korean leader's arrival could be coincidental. "I don't see any linkage with the trade talks," said Glaser. "China's ability to use (North Korea) as leverage has diminished considerably since Trump opened his own channel to Kim," she said. Chinese foreign ministry spokesman Lu Kang said Kim's visit and the trade talks were "two separate matters". "China's position in the China-US trade friction and its solutions to the friction is open, it's transparent," Lu said at a regular press briefing. "We have shown our sincerity, we have established our stand in this, so we don't need other actions to gain the confidence of the US. The US is very clear about China's stance." A separate geopolitical issue angered China on Monday when a US Navy guided-missile destroyer sailed near disputed islands in the South China Sea -- a vast expanse claimed by Beijing. China called it a violation of its sovereignty that has damaged "peace, safety and order" in the waterway. The United States periodically sends planes and warships through the area to signal to Beijing its right under international law to pass through the waters.

Trump says US-China trade talks going 'very well'

US-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, US Trade Representative Robert Lighthizer said on Sunday, clarifying there is a "hard deadline" after a week of confusion among administration advisers.

Global markets are jittery over prospects of a collision between the world's two largest economic powers over China's huge trade surplus with the United States and U.S. claims that China is stealing intellectual property and technology.

"As far as I am concerned it is a hard deadline. When I talk to the president of the United States he is not talking about going beyond March," Lighthizer said on the CBS show "Face the Nation," referring to President Donald Trump's recent decision to delay new tariffs while talks proceed.

"The way this is set up is that at the end of 90 days, these tariffs will be raised," said Lighthizer, who has been tapped to lead the talks and appeared to tamp down expectations that the negotiation period could be extended.

In Argentina last weekend, Trump and Chinese President Xi Jinping agreed to a truce that delayed the planned Jan. 1 US hike of tariffs to 25 percent from 10 percent on $200 billion of Chinese goods while they negotiate a trade deal.

However, the arrest of a top executive at China's Huawei Technologies Co Ltd's has roiled global markets amid fears that it could further inflame the China-US trade row.

US-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, US Trade Representative Robert Lighthizer said on Sunday, clarifying there is a "hard deadline" after a week of confusion among administration advisers.

US-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, US Trade Representative Robert Lighthizer said on Sunday, clarifying there is a "hard deadline" after a week of confusion among administration advisers. Global markets are jittery over prospects of a collision between the world's two largest economic powers over China's huge trade surplus with the United States and U.S. claims that China is stealing intellectual property and technology. "As far as I am concerned it is a hard deadline. When I talk to the president of the United States he is not talking about going beyond March," Lighthizer said on the CBS show "Face the Nation," referring to President Donald Trump's recent decision to delay new tariffs while talks proceed. "The way this is set up is that at the end of 90 days, these tariffs will be raised," said Lighthizer, who has been tapped to lead the talks and appeared to tamp down expectations that the negotiation period could be extended. In Argentina last weekend, Trump and Chinese President Xi Jinping agreed to a truce that delayed the planned Jan. 1 US hike of tariffs to 25 percent from 10 percent on $200 billion of Chinese goods while they negotiate a trade deal. However, the arrest of a top executive at China's Huawei Technologies Co Ltd's has roiled global markets amid fears that it could further inflame the China-US trade row.

Trade deal must be reached by March 1 or new tariffs will be imposed: US to China

President Donald Trump says American farmers will see immediate benefits from the trade detente with Beijing, but farm belt representatives are still cautious about declaring victory.

Trump took to Twitter Monday to declare that his weekend agreement with Xi Jinping for a cease-fire on new trade tariffs meant "Farmers will be a very BIG and FAST beneficiary of our deal with China," with the Chinese to resume purchases of US agricultural goods "immediately."

Trump's comments were followed by White House economic advisor Larry Kudlow, who told a press briefing that he expects Chinese tariffs on US farm goods would be removed "quickly," without elaborating.

The Chinese tariffs, imposed since July, have badly bruised some segments of agriculture, such as soybeans. US soybean exports to China since September 1 have fallen to 339,000 tons from nearly 15 million tons in the year-ago period.

And even if some of those items found buyers in other markets, soy exports overall during the same period were 11.9 million tons, down from 21.0 million in the 2017 period.

But the US-China agreement, struck on the sidelines of a G-20 summit in Argentina, could provide relief. Chinese state-run media hailed the trade war truce with the United States as "momentous," while warning that complex negotiations lay ahead.

- Still waiting - 
A survey of several representatives of the US farm belt showed a range of responses, all at least somewhat positive, but none as effusive as from the White House.&nbsp;

"This is the first positive news we've seen after months of downturned prices and halted shipments," said John Heisdorffer, a soybean grower from Keota, Iowa.

"If this suspension of tariff increases leads to a longer-term agreement, it will be extremely positive for the soy industry."

Already Monday, the trade announcement boosted soybean prices, with futures of the commodity rising 1.2 percent in Chicago.

But without additional details, others in US agriculture were reticent to applaud too loudly.

"We have no number or timeframe...at all," said David Salmonsen, chief trade expert at the American Farm Bureau, adding, "not until we see Chinese companies executing contracts."

Big soybean contracts are usually secured between October and March, Salmonsen said, adding that there had been very few deals struck this fall.&nbsp;

"Everything right now is based on the good words of the two presidents," said Chad Hart, an economics professor at Iowa State University.&nbsp;

"The expectation is that there is agreement for significant purchases on the agricultural side," Hart said. "But it's unlikely to be done until the tariffs are reduced."

Hart said there could be some contracts soon from Chinese government buyers but that most private Chinese companies would await further action.

Some observers noted that the two sides were still far from resolving the thorny details of the broader US-China trade conflict.

"It's no step forward –- if there's any positive from it, it's that they've hit the pause button on further escalation," said Andrew Jerome, a spokesman for the National Farmers Union.

"From our point of view, no tariffs have been eliminated, none of China's bad trade policies have been addressed and probably most importantly we have lost our reputation as a reliable trading partner and, therefore, stable markets in China and elsewhere long-term." 
&nbsp;

President Donald Trump says American farmers will see immediate benefits from the trade detente with Beijing, but farm belt representatives are still cautious about declaring victory.

President Donald Trump says American farmers will see immediate benefits from the trade detente with Beijing, but farm belt representatives are still cautious about declaring victory. Trump took to Twitter Monday to declare that his weekend agreement with Xi Jinping for a cease-fire on new trade tariffs meant "Farmers will be a very BIG and FAST beneficiary of our deal with China," with the Chinese to resume purchases of US agricultural goods "immediately." Trump's comments were followed by White House economic advisor Larry Kudlow, who told a press briefing that he expects Chinese tariffs on US farm goods would be removed "quickly," without elaborating. The Chinese tariffs, imposed since July, have badly bruised some segments of agriculture, such as soybeans. US soybean exports to China since September 1 have fallen to 339,000 tons from nearly 15 million tons in the year-ago period. And even if some of those items found buyers in other markets, soy exports overall during the same period were 11.9 million tons, down from 21.0 million in the 2017 period. But the US-China agreement, struck on the sidelines of a G-20 summit in Argentina, could provide relief. Chinese state-run media hailed the trade war truce with the United States as "momentous," while warning that complex negotiations lay ahead. - Still waiting - A survey of several representatives of the US farm belt showed a range of responses, all at least somewhat positive, but none as effusive as from the White House. "This is the first positive news we've seen after months of downturned prices and halted shipments," said John Heisdorffer, a soybean grower from Keota, Iowa. "If this suspension of tariff increases leads to a longer-term agreement, it will be extremely positive for the soy industry." Already Monday, the trade announcement boosted soybean prices, with futures of the commodity rising 1.2 percent in Chicago. But without additional details, others in US agriculture were reticent to applaud too loudly. "We have no number or timeframe...at all," said David Salmonsen, chief trade expert at the American Farm Bureau, adding, "not until we see Chinese companies executing contracts." Big soybean contracts are usually secured between October and March, Salmonsen said, adding that there had been very few deals struck this fall. "Everything right now is based on the good words of the two presidents," said Chad Hart, an economics professor at Iowa State University. "The expectation is that there is agreement for significant purchases on the agricultural side," Hart said. "But it's unlikely to be done until the tariffs are reduced." Hart said there could be some contracts soon from Chinese government buyers but that most private Chinese companies would await further action. Some observers noted that the two sides were still far from resolving the thorny details of the broader US-China trade conflict. "It's no step forward –- if there's any positive from it, it's that they've hit the pause button on further escalation," said Andrew Jerome, a spokesman for the National Farmers Union. "From our point of view, no tariffs have been eliminated, none of China's bad trade policies have been addressed and probably most importantly we have lost our reputation as a reliable trading partner and, therefore, stable markets in China and elsewhere long-term."

US farmers more cautious than hopeful after China trade deal

The United States expects China will remove retaliatory tariffs on US farm products "quickly" as part of <a href="http://www.wionews.com/world/trump-and-china-called-a-truce-in-the-trade-war-now-what-181070">the trade truce reached over the weekend</a>, White House economic advisor Larry Kudlow said Monday.

Beijing retaliated with steep duties on US crops in the trade war which has seen President Donald Trump hit $250 billion in Chinese goods with tariffs of 10-25 percent.

As a result, soybean exports to China have plunged, harming US farmers.

"My expectation is that China will roll back those tariffs quickly," Kudlow told reporters.

Kudlow stressed that Chinese officials repeatedly said the trade commitments announced after Trump's dinner with China's President Xi Jinping would be implemented "immediately." But he acknowledged that it was unclear what that would mean.

He said it would give the weekend deal "more credibility" if Beijing followed through with some immediate steps.

"Let's get rolling folks. Today is Monday. The dinner was Saturday," Kudlow said.

Likewise he said there was a commitment to remove China's punitive tariffs on US auto exports, and while there was no agreement on the final level "I expect those tariffs to go to zero."

The leaders committed to a 90-day truce in the trade confrontation, and while Kudlow said the "history is not great" with China on trade, he was optimistic.&nbsp;

"We've never been close to this."

The United States expects China will remove retaliatory tariffs on US farm products "quickly" as part of the trade truce reached over the weekend, White House economic advisor Larry Kudlow said Monday.

The United States expects China will remove retaliatory tariffs on US farm products "quickly" as part of the trade truce reached over the weekend, White House economic advisor Larry Kudlow said Monday. Beijing retaliated with steep duties on US crops in the trade war which has seen President Donald Trump hit $250 billion in Chinese goods with tariffs of 10-25 percent. As a result, soybean exports to China have plunged, harming US farmers. "My expectation is that China will roll back those tariffs quickly," Kudlow told reporters. Kudlow stressed that Chinese officials repeatedly said the trade commitments announced after Trump's dinner with China's President Xi Jinping would be implemented "immediately." But he acknowledged that it was unclear what that would mean. He said it would give the weekend deal "more credibility" if Beijing followed through with some immediate steps. "Let's get rolling folks. Today is Monday. The dinner was Saturday," Kudlow said. Likewise he said there was a commitment to remove China's punitive tariffs on US auto exports, and while there was no agreement on the final level "I expect those tariffs to go to zero." The leaders committed to a 90-day truce in the trade confrontation, and while Kudlow said the "history is not great" with China on trade, he was optimistic. "We've never been close to this."

We expect China to roll back retaliatory farm tariffs 'quickly': White House

US&nbsp;President Donald Trump said on Sunday that <a href="http://www.wionews.com/world/the-trump-china-trade-war-how-will-it-end-171248">China had agreed to cut import tariffs on American-made cars</a>, a potential boon for automakers including Tesla Inc and BMW who manufacture in the United States for export to China.

Trump, fresh from agreeing a 90-day cease-fire in his trade war with China at the meeting of the G20, said on Twitter that "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%."

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<blockquote class="twitter-tweet" data-lang="en">
China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1069441198157455360?ref_src=twsrc%5Etfw">December 3, 2018</a></blockquote>
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The move, if realised, would bolster US&nbsp;car manufacturers who were hit hard when China ramped up levies on US-made cars in July as part of a broad package of retaliatory tariffs amid a sprawling trade war between Washington and Beijing.

China, the world's largest auto market, raised tariffs on US&nbsp;auto imports to 40 percent in July, forcing many carmakers to hike prices in a major hit to the roughly $10 billion worth of passenger vehicles the United States sent to China last year.

That put US-made car brands like Tesla and Ford Motor Co's Lincoln at a major disadvantage, soon after China slashed auto import tariffs broadly to 15 percent for most vehicles.

Trump's tweet did not give any further detail about the tariff cuts, such as when the deal had been reached or a new level for the Chinese levies.

The White House and U.S. Trade Representative's (USTR) office did not immediately respond to a request for comment late on Sunday. China's commerce and finance ministries did not respond to requests for comment on Monday.

After a 2-1/2 hour dinner with Xi on Saturday in Buenos Aires, Trump agreed to postpone an increase in the tariff rate on $200 billion worth of Chinese imports to 25 percent from 10 percent that was scheduled for Jan. 1. China agreed to resume purchases of some U.S. farm and energy commodities.

The two sides also agreed to negotiate during the next 90 days over "structural changes" to China's policies on technology transfers, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture.

Major U.S. automakers said they were unaware of the lower tariffs on exports to China. The automakers have a previously scheduled meeting with USTR on Monday, two people briefed on the matter told Reuters.

The lower tariffs would be a boost to automakers exporting vehicles to China, including Ford and German carmaker BMW, which exports U.S.-built luxury vehicles to China.

It would also be good news for Tesla, which has been hit hard by increased tariffs on the electric cars it imports to China. The U.S. firm has said it will cut prices to absorb more of the tariffs and is building a local plant in Shanghai.

While China had lowered its general tariff rate for imported cars to 15 percent from 25 percent this year, it had slapped on a 25 percent punitive tariff on American-made vehicles, bringing the rate back up to 40 percent. The United States currently charges tariffs of 27.5 percent on Chinese vehicles.

On Wednesday, U.S. Trade Representative Robert Lighthizer said Trump had directed him to examine all available tools to raise U.S. tariffs on Chinese vehicles to the level that China is charging.

US President Donald Trump said on Sunday that China had agreed to cut import tariffs on American-made cars, a potential boon for automakers including Tesla Inc and BMW who manufacture in the United States for export to China.

US President Donald Trump said on Sunday that China had agreed to cut import tariffs on American-made cars, a potential boon for automakers including Tesla Inc and BMW who manufacture in the United States for export to China. Trump, fresh from agreeing a 90-day cease-fire in his trade war with China at the meeting of the G20, said on Twitter that "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%." China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%. — Donald J. Trump (@realDonaldTrump) December 3, 2018 × The move, if realised, would bolster US car manufacturers who were hit hard when China ramped up levies on US-made cars in July as part of a broad package of retaliatory tariffs amid a sprawling trade war between Washington and Beijing. China, the world's largest auto market, raised tariffs on US auto imports to 40 percent in July, forcing many carmakers to hike prices in a major hit to the roughly $10 billion worth of passenger vehicles the United States sent to China last year. That put US-made car brands like Tesla and Ford Motor Co's Lincoln at a major disadvantage, soon after China slashed auto import tariffs broadly to 15 percent for most vehicles. Trump's tweet did not give any further detail about the tariff cuts, such as when the deal had been reached or a new level for the Chinese levies. The White House and U.S. Trade Representative's (USTR) office did not immediately respond to a request for comment late on Sunday. China's commerce and finance ministries did not respond to requests for comment on Monday. After a 2-1/2 hour dinner with Xi on Saturday in Buenos Aires, Trump agreed to postpone an increase in the tariff rate on $200 billion worth of Chinese imports to 25 percent from 10 percent that was scheduled for Jan. 1. China agreed to resume purchases of some U.S. farm and energy commodities. The two sides also agreed to negotiate during the next 90 days over "structural changes" to China's policies on technology transfers, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture. Major U.S. automakers said they were unaware of the lower tariffs on exports to China. The automakers have a previously scheduled meeting with USTR on Monday, two people briefed on the matter told Reuters. The lower tariffs would be a boost to automakers exporting vehicles to China, including Ford and German carmaker BMW, which exports U.S.-built luxury vehicles to China. It would also be good news for Tesla, which has been hit hard by increased tariffs on the electric cars it imports to China. The U.S. firm has said it will cut prices to absorb more of the tariffs and is building a local plant in Shanghai. While China had lowered its general tariff rate for imported cars to 15 percent from 25 percent this year, it had slapped on a 25 percent punitive tariff on American-made vehicles, bringing the rate back up to 40 percent. The United States currently charges tariffs of 27.5 percent on Chinese vehicles. On Wednesday, U.S. Trade Representative Robert Lighthizer said Trump had directed him to examine all available tools to raise U.S. tariffs on Chinese vehicles to the level that China is charging.

Trump says China has agreed to cut tariffs on US-made cars

<a href="http://www.wionews.com/world/us-says-it-is-suspending-new-china-tariffs-for-90-days-180809">US</a><a href="http://www.wionews.com/world/us-says-it-is-suspending-new-china-tariffs-for-90-days-180809"> says it is suspending new China tariffs for 90 days</a>

The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war.

The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days.&nbsp;

"If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent," a White House statement said after dinner talks between President Donald Trump and his counterpart Xi Jinping on the sidelines of a G20 summit in Buenos Aires.

 
<a href="http://www.wionews.com/world/war-will-continue-so-long-as-ukraine-government-stays-putin-180802">War will continue so long as Ukraine government stays: Putin</a>

Russian President Vladimir Putin said Saturday he saw no end to the conflict in eastern Ukraine "as long as the current authorities remain in power."

"The current Ukrainian authorities have no interest in resolving the conflict, especially by peaceful means," Putin told reporters at the end of the G20 summit in Argentina.

 
<a href="http://www.wionews.com/world/ukraine-russia-conflict-putin-explains-his-side-of-the-story-to-trump-180807">Putin briefs Trump on Ukraine-Russia conflict</a>

Russian President Vladimir Putin said Saturday he briefed his US counterpart Donald Trump on the Ukraine crisis as he came under pressure over Moscow's robust foreign policy at the G20 summit in Argentina.

Putin said he explained Moscow's position to Trump when the leaders met briefly at a summit dinner Friday.

"We spoke standing up. I replied to his questions about the incident in the Black Sea," Putin told reporters at the end of the summit.

 
<a href="http://www.wionews.com/india-news/at-g20-pm-talks-about-trade-wars-and-terror-180797">At G20, Modi says trade war can do collateral damage to emerging economies</a>

Day 2 of the G20 summit came to an end Saturday with Indian Prime Minister Narendra Modi focusing on the issue of terror and highlighting how trade wars can be detrimental to global economies.

Briefing the media, India's sherpa at the G20, Shaktikanta Das, said, "The PM highlighted escalating trade tension and the collateral damage it can do to emerging economies."

The big focus at this year's G20 has been the trade war between the world's two biggest economies, the US and China.

 
<a href="http://www.wionews.com/entertainment/spider-man-is-back-and-this-time-hes-black-and-latino-180806">Spider-Man is back. And this time he's black and Latino</a>

For what seems like the umpteenth time, Spider-Man is back on the big screen.&nbsp;

But this year, when Hollywood is under the microscope on the hot-button issue of diversity, the superhero is half-black and half-Latino.

Step aside, Peter Parker. There's a new Spidey in town. Hello, Miles Morales.

US says it is suspending new China tariffs for 90 days The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war.

US says it is suspending new China tariffs for 90 days The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war. The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days. "If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent," a White House statement said after dinner talks between President Donald Trump and his counterpart Xi Jinping on the sidelines of a G20 summit in Buenos Aires. War will continue so long as Ukraine government stays: Putin Russian President Vladimir Putin said Saturday he saw no end to the conflict in eastern Ukraine "as long as the current authorities remain in power." "The current Ukrainian authorities have no interest in resolving the conflict, especially by peaceful means," Putin told reporters at the end of the G20 summit in Argentina. Putin briefs Trump on Ukraine-Russia conflict Russian President Vladimir Putin said Saturday he briefed his US counterpart Donald Trump on the Ukraine crisis as he came under pressure over Moscow's robust foreign policy at the G20 summit in Argentina. Putin said he explained Moscow's position to Trump when the leaders met briefly at a summit dinner Friday. "We spoke standing up. I replied to his questions about the incident in the Black Sea," Putin told reporters at the end of the summit. At G20, Modi says trade war can do collateral damage to emerging economies Day 2 of the G20 summit came to an end Saturday with Indian Prime Minister Narendra Modi focusing on the issue of terror and highlighting how trade wars can be detrimental to global economies. Briefing the media, India's sherpa at the G20, Shaktikanta Das, said, "The PM highlighted escalating trade tension and the collateral damage it can do to emerging economies." The big focus at this year's G20 has been the trade war between the world's two biggest economies, the US and China. Spider-Man is back. And this time he's black and Latino For what seems like the umpteenth time, Spider-Man is back on the big screen. But this year, when Hollywood is under the microscope on the hot-button issue of diversity, the superhero is half-black and half-Latino. Step aside, Peter Parker. There's a new Spidey in town. Hello, Miles Morales.

The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war.

The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days.&nbsp;

"If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent," a White House statement said after <a href="http://www.wionews.com/world/at-g20-dinner-trump-calls-relationship-with-xi-very-special-180799">dinner talks between President Donald Trump and his counterpart Xi Jinping</a> on the sidelines of a G20 summit in Buenos Aires.

Trump, who in recent months has harshly criticized China and accused it of meddling in US elections, in the statement called his meeting with Xi "amazing and productive."

China earlier confirmed the outlines of the arrangement, saying that officials of the world's two largest economies would get to work on resolving a range of trade disputes.

The White House said that China has also agreed to step up purchases "immediately" of an unspecified amount of US agricultural goods.&nbsp;

Amid the trade tensions, China has sharply curtailed its purchases of US soybeans and other produce, dealing a significant blow to farmers, a major support base for Trump.

In what the White House called a "wonderful humanitarian gesture," the White House said that Xi would crack down on fentanyl, the opioid painkiller largely made in China that is behind an epidemic of US overdoses.

The White House said that China would subject fentanyl makers to the "maximum penalty under the law." China is the world's leading executioner, with drug offenses subject to the death penalty.

The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war. The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days.

The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war. The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days. "If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent," a White House statement said after dinner talks between President Donald Trump and his counterpart Xi Jinping on the sidelines of a G20 summit in Buenos Aires. Trump, who in recent months has harshly criticized China and accused it of meddling in US elections, in the statement called his meeting with Xi "amazing and productive." China earlier confirmed the outlines of the arrangement, saying that officials of the world's two largest economies would get to work on resolving a range of trade disputes. The White House said that China has also agreed to step up purchases "immediately" of an unspecified amount of US agricultural goods. Amid the trade tensions, China has sharply curtailed its purchases of US soybeans and other produce, dealing a significant blow to farmers, a major support base for Trump. In what the White House called a "wonderful humanitarian gesture," the White House said that Xi would crack down on fentanyl, the opioid painkiller largely made in China that is behind an epidemic of US overdoses. The White House said that China would subject fentanyl makers to the "maximum penalty under the law." China is the world's leading executioner, with drug offenses subject to the death penalty.

US says it is suspending new China tariffs for 90 days

The United States and China agreed Saturday in a long-anticipated summit to hold off on new tariffs after January 1, Chinese state media said following a months-long trade war.

The China Daily and Chinese international broadcaster CGTN both said President Donald <a href="http://www.wionews.com/world/at-g20-dinner-trump-calls-relationship-with-xi-very-special-180799">Trump and his counterpart Xi Jinping</a> agreed to halt tariffs "after January 1."

Trump had threatened starting on New Year's Day to raise tariffs from 10 to 25 percent on $200 billion worth of Chinese imports.

The White House did not immediately comment on the outcome of the meeting on the sidelines of the G20 summit in Buenos Aires, but senior Trump adviser Larry Kudlow said that it went "very well."

Trade tensions between the United States and China have soared since the start of the year, with Trump already slapping $250 billion worth of tariffs.

Trump -- a staunch defender of US manufacturing in his "America First" policy -- has assailed China for trading practices and especially over its alleged theft of foreign technology.

The Trump administration has demanded that China end a requirement that foreign companies team up with local partners, a key way in which Beijing is accused of seizing US know-how to promote its own industry.

China has denied the charges but promised ahead of the summit to do more to welcome foreign imports.

The United States and China agreed Saturday in a long-anticipated summit to hold off on new tariffs after January 1, Chinese state media said following a months-long trade war.

The United States and China agreed Saturday in a long-anticipated summit to hold off on new tariffs after January 1, Chinese state media said following a months-long trade war. The China Daily and Chinese international broadcaster CGTN both said President Donald Trump and his counterpart Xi Jinping agreed to halt tariffs "after January 1." Trump had threatened starting on New Year's Day to raise tariffs from 10 to 25 percent on $200 billion worth of Chinese imports. The White House did not immediately comment on the outcome of the meeting on the sidelines of the G20 summit in Buenos Aires, but senior Trump adviser Larry Kudlow said that it went "very well." Trade tensions between the United States and China have soared since the start of the year, with Trump already slapping $250 billion worth of tariffs. Trump -- a staunch defender of US manufacturing in his "America First" policy -- has assailed China for trading practices and especially over its alleged theft of foreign technology. The Trump administration has demanded that China end a requirement that foreign companies team up with local partners, a key way in which Beijing is accused of seizing US know-how to promote its own industry. China has denied the charges but promised ahead of the summit to do more to welcome foreign imports.

China, US agree to no new tariffs 'after January 1': Chinese media

US President Donald Trump said on Wednesday that new auto tariffs were "being studied now," asserting they could <a href="http://www.wionews.com/business-economy/general-motors-shuttering-plants-cutting-15-of-workforce-179659">prevent job cuts such as the US layoffs and plant closures</a> that General Motors Co announced this week.

Trump said on Twitter that the 25 percent tariff placed on imported pickup trucks and commercial vans from markets outside North America in the 1960s had long boosted US vehicle production.

"If we did that with cars coming in, many more cars would be built here," Trump said, "and G.M. would not be closing their plants in Ohio, Michigan &amp; Maryland."

The United States currently has a 2.5 percent tariff on imported cars and sport utility vehicles from markets outside North America and South Korea. The new North American trade deal exempts the first 2.6 million SUVs and passenger cars built in Mexico and Canada from new tariffs.

Several automakers said privately on Wednesday they feared GM's action could prompt Trump to take action faster than expected on new tariffs.

GM did not directly comment on Trump's tweets, but reiterated that it was committed to investing in the United States. On Monday, the company said it would shutter five North American plants, stop building six low-selling passenger cars in North America and cut up to 15,000 jobs. The company has no plans to shift production of those vehicles to other markets.

The administration has for months been considering imposing dramatic new tariffs on imported vehicles.

The U.S. Commerce Department has circulated draft recommendations to the White House on its investigation into whether to impose tariffs of up to 25 percent on imported cars and parts on national security grounds, Reuters reported earlier this month.

"The President has great power on this issue - Because of the G.M. event, it is being studied now!" Trump said.

The prospect of tariffs of 25 percent on imported autos and parts has sent shockwaves through the auto industry, with both U.S. and foreign-brand producers lobbying against it and warning that national security tariffs on EU and Japanese vehicles could dramatically raise the price of many vehicles.

'ALL AVAILABLE TOOLS'

Trump has also harshly criticized GM for building cars in China. The United States slapped an additional 25 percent tariff on Chinese-made vehicles earlier this year, prompting China to retaliate.

China currently imposes a 40 percent tariff on U.S. automobiles, while the United States has a 27.5 percent tariff on Chinese vehicles.

US&nbsp;Trade Representative Robert Lighthizer said in a statement on Wednesday that he "will examine all available tools to equalise the tariffs applied to automobiles."

Additional tariffs on Chinese-made vehicle and parts would have a limited impact, said Kristin Dziczek, an economist at the Center for Automotive Research. She noted only a small number of vehicles were exported from China to the United States annually.

The White House previously pledged not to move forward with imposing national security tariffs on the European Union or Japan as long as it was making constructive progress in trade talks.

Trump wants the EU and Japan to buy more American-made vehicles. He wants the EU and Japan to make trade concessions including lowering the EU’s 10 percent tariff on imported vehicles and cutting non-tariff barriers.

The White House in recent weeks has reached out to the chief executives of German automakers including Daimler AG, BMW AG, and Volkswagen AG about meeting to discuss the status of auto trade.

US President Donald Trump said on Wednesday that new auto tariffs were "being studied now," asserting they could prevent job cuts such as the US layoffs and plant closures that General Motors Co announced this week.

US President Donald Trump said on Wednesday that new auto tariffs were "being studied now," asserting they could prevent job cuts such as the US layoffs and plant closures that General Motors Co announced this week. Trump said on Twitter that the 25 percent tariff placed on imported pickup trucks and commercial vans from markets outside North America in the 1960s had long boosted US vehicle production. "If we did that with cars coming in, many more cars would be built here," Trump said, "and G.M. would not be closing their plants in Ohio, Michigan & Maryland." The United States currently has a 2.5 percent tariff on imported cars and sport utility vehicles from markets outside North America and South Korea. The new North American trade deal exempts the first 2.6 million SUVs and passenger cars built in Mexico and Canada from new tariffs. Several automakers said privately on Wednesday they feared GM's action could prompt Trump to take action faster than expected on new tariffs. GM did not directly comment on Trump's tweets, but reiterated that it was committed to investing in the United States. On Monday, the company said it would shutter five North American plants, stop building six low-selling passenger cars in North America and cut up to 15,000 jobs. The company has no plans to shift production of those vehicles to other markets. The administration has for months been considering imposing dramatic new tariffs on imported vehicles. The U.S. Commerce Department has circulated draft recommendations to the White House on its investigation into whether to impose tariffs of up to 25 percent on imported cars and parts on national security grounds, Reuters reported earlier this month. "The President has great power on this issue - Because of the G.M. event, it is being studied now!" Trump said. The prospect of tariffs of 25 percent on imported autos and parts has sent shockwaves through the auto industry, with both U.S. and foreign-brand producers lobbying against it and warning that national security tariffs on EU and Japanese vehicles could dramatically raise the price of many vehicles. 'ALL AVAILABLE TOOLS' Trump has also harshly criticized GM for building cars in China. The United States slapped an additional 25 percent tariff on Chinese-made vehicles earlier this year, prompting China to retaliate. China currently imposes a 40 percent tariff on U.S. automobiles, while the United States has a 27.5 percent tariff on Chinese vehicles. US Trade Representative Robert Lighthizer said in a statement on Wednesday that he "will examine all available tools to equalise the tariffs applied to automobiles." Additional tariffs on Chinese-made vehicle and parts would have a limited impact, said Kristin Dziczek, an economist at the Center for Automotive Research. She noted only a small number of vehicles were exported from China to the United States annually. The White House previously pledged not to move forward with imposing national security tariffs on the European Union or Japan as long as it was making constructive progress in trade talks. Trump wants the EU and Japan to buy more American-made vehicles. He wants the EU and Japan to make trade concessions including lowering the EU’s 10 percent tariff on imported vehicles and cutting non-tariff barriers. The White House in recent weeks has reached out to the chief executives of German automakers including Daimler AG, BMW AG, and Volkswagen AG about meeting to discuss the status of auto trade.

Trump studying new auto tariffs after General Motors announces job cuts

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