Tag Archives: Chinese

Trump says US ready to tax all Chinese imports should need arise

Washington may slap import taxes on all $ 505 billion worth of Chinese goods should it become necessary if the trade conflict with Beijing escalates, US President Donald Trump told CNBC. So far, the countries have exchanged levies on mutual imports worth of $ 34 billion. US export duties on Chinese products came into force on July 6 with China ...

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Zuckerberg warns break-up of Facebook will lead to Chinese tech dominance

Calls to break up Facebook in order to even out the playing field for competitors would result in a Chinese tech companies filling the void, said the social network’s co-founder Mark Zuckerberg. He pointed to the fact that the Chinese firms which will likely step in and dominate don’t have traditional American values. “I think you have this question from ...

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Chinese consumers ready to boycott American goods if trade war escalates

Most Chinese may stop buying US products in response to tariffs imposed last month on goods from their country by the White House amid rising trade tensions between Washington and Beijing, according to the latest survey. The recent study carried out by FT Confidential Research shows that 54 percent of respondents across 300 Chinese cities would “probably” or “definitely” reject ...

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Quantum leap: Chinese team set ‘entanglement’ record in potential computer breakthrough

A new ‘quantum entanglement’ record has been set which could see computing speeds ratcheted up. Chinese scientists successfully interwove 18 qubits – the most basic unit of quantum computing – into just six connected photons. “It’s as if you took six bits of the computer, but each of them tripled in the amount of information it could contain and can ...

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Chinese refiner dumps US crude in favor of dollarless imports of Iranian oil

Dongming Petrochemical, an independent Chinese refiner, said it has halted crude purchases from the US and turned to Iranian imports amid escalating trade tensions between Beijing and Washington. Dongming Petrochemical has nearly 6,300 employees, total assets of 30 billion yuan ($ 4.5 billion) and the primary processing capacity is 15 million tons per year, according to the company website. Chinese ...

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‘Totally unacceptable’: Beijing vows retaliation if US taxes $200bn of Chinese goods

The Chinese commerce ministry has slammed the US plan to impose tariffs on additional imports worth some $ 200 billion as totally unacceptable, promising a mirror response to defend its national interests. “The Chinese side is shocked by the actions of the US,” a statement on the ministry’s website declared. “In order to safeguard the core interests of the country ...

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US releases $200bn list of Chinese products for possible new tariffs

Accusing China of not negotiating “seriously” on trade, the Trump administration has released a list of products it wants to impose a ten percent tariff on, amounting to $ 200 billion. The new tariffs would kick in within 60 days. The 200-page document, released on Tuesday by the US Trade Representative’s office, gives notice to those who wish to comment ...

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Chinese HNA Group chairman falls to his death after posing for photo in France

The chairman of the embattled Chinese HNA Group, that owns big stakes in Hilton hotels and Deutsche Bank has died in France. Wang Jian suffered 15 meters fall, while posing for a photograph, the police said. The tragedy occurred on Tuesday in the popular tourist village of Bonnieux, near Avignon in the French south-east. Wang’s death appeared to be accidental ...

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Chinese officials court EU nations to get allies in trade row with Trump – report

Chinese officials have reportedly been cozying up to their EU counterparts, promising members of the 28-strong bloc to open the Chinese market in return for putting up a united front against the US in the World Trade Organization. China has been actively seeking an ally in the EU in a potential trade war with Washington, with senior Chinese officials offering ...

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Major Chinese banks ditching US dollar to prop up domestic currency

China’s state-owned banks have reportedly been buying US dollars in forwards on behalf of the central bank (PBOC) and immediately selling them into the spot market to support the yuan. PBOC deputy governor and head of the foreign exchange regulator Pan Gongsheng said China was confident it could keep the yuan basically stable and at a “reasonable” level. “It feels ...

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