09 de diciembre de 2019
ÚLTIMAS NOTICIAS:
Hispanic World

Trump says tariffs taking a toll on China's economy

Washington, Jul 15 (efe-epa).- President Donald Trump said Monday that the tariffs imposed by his administration were taking a toll on China's economy, causing the Asian giant's growth rate to slow.

 A Chinese official waits on a chair in the corridor outside the room where the bilateral meeting between Chinese President Xi Jinping and US President Donald Trump took place on June 29, 2019, during the second day of the G20 Summit in Osaka, Japan. EPA-EFE/FILE/LUKAS COCH

A Chinese official waits on a chair in the corridor outside the room where the bilateral meeting between Chinese President Xi Jinping and US President Donald Trump took place on June 29, 2019, during the second day of the G20 Summit in Osaka, Japan. EPA-EFE/FILE/LUKAS COCH

Washington, Jul 15 (efe-epa).- President Donald Trump said Monday that the tariffs imposed by his administration were taking a toll on China's economy, causing the Asian giant's growth rate to slow.

"China's 2nd Quarter growth is the slowest it has been in more than 27 years. The United States Tariffs are having a major effect on companies wanting to leave China for non-tariffed countries," the president said in a Twitter post.

Trump said the tariffs were not only influencing corporations' decisions on where to set up operations, but also putting pressure on Beijing to reach a trade agreement with Washington.

"Thousands of companies are leaving. This is why China wants to make a deal with the U.S., and wishes it had not broken the original deal in the first place," Trump said.

The US leader touted the revenue generated by the tariffs imposed on imported Chinese goods.

"In the meantime, we are receiving Billions of Dollars in Tariffs from China, with possibly much more to come. These Tariffs are paid for by China devaluing & pumping, not by the U.S. taxpayer!" Trump tweeted.

The president's views on tariffs run counter to those of economists, who argue that the trade levies are, in effect, a tax on consumers because they result in higher prices.

The Trump administration, for its part, contends that tariffs can be used as an effective policy tool.

Trump's tweets were posted hours after the Chinese government said the gross domestic product (GDP) grew 6.3 percent in the first half of 2019, or 0.50 percentage points less than in the same period last year.

The National Bureau of Statistics said Monday that the GDP grew only 6.2 percent year-on-year in the second quarter, marking the weakest performance in 27 years and confirming analysts' predictions that the ongoing trade war with the United States would cause a slump in domestic demand.

China's GDP grew 6.4 percent in the first quarter.

In late June, Trump and his Chinese counterpart, Xi Jinping, met on the sidelines of the G20 Summit in Japan and agreed to a truce in the trade war, with Washington holding off on imposing new tariffs on China and allowing US companies to sell products to tech giant Huawei.

The two leaders agreed during their meeting in Osaka to resume trade negotiations amid Washington's decision to not slap tariffs on all Chinese imports.

In May, Trump imposed a 25 percent tariff on Chinese imports worth $200 billion in response to the lack of progress in reaching a trade deal with Beijing.

China, for its part, retaliated by slapping tariffs on US imports worth $60 billion.

Trump later threatened to impose tariffs ranging from 10 percent to 25 percent on another $325 billion of Chinese imports, causing concern in financial markets and the business community due to the possible effect on consumer spending, which accounts for about two-thirds of US economic activity.

While additional tariffs are off the table for now, the United States will maintain the tariffs imposed on a total of $250 billion in Chinese goods, while Beijing will continue to slap tariffs on US imports totaling $110 billion.

In 2018, the United States posted a trade deficit of $419 billion with China due, largely, to the fact that US exports to Asia's largest economy totaled just $120 billion, while American imports from China reached $540 billion. EFE

Histórico de noticias
Trump warns Kim he will lose everything if he takes hostile action

Washington, Dec 8 (efe-epa).- President Donald Trump warned North Korean leader Kim Jong-un on Sunday that the latter will lose "everything" if he acts in a...

Beekeeping, alternative to unemployment and social crisis in Nicaragua

By Martha Delgado

Artists give rhythm to Colombia protests with 6-hr music concert in Bogota

By Ares Biescas Rue

Dragon Spacecraft delivers cargo to International Space Station

Miami, Dec 8 (efe-epa).- A Dragon cargo spacecraft belonging to private space services company SpaceX delivered its payload on Sunday to the International...

Art Basel Miami Beach banana ends up where it should

Miami, Dec 8 (efe-epa).- "The Comedian," the controversial work of art by Italy's Maurizio Cattelan consisting of a banana fastened to a wall with duct tape...

PETA asks Nordstrom chain to stop selling garments made from animal hides

New York, Dec 5 (efe-epa).- The People for the Ethical Treatment of Animals (PETA) organization on Thursday staged a "bloody" protest in front of a...

Heroes, villains and Hollywood stars, face to face in Brazil

By Nayara Batschke

Argentine President-elect Fernandez's law students discuss him as a teacher

By Carmen Herranz

Pelosi takes offense at reporter's question about whether she hates Trump

Washington, Dec 5 (efe-epa).- House Speaker Nancy Pelosi on Thursday took offense at a reporter's question about whether she hates President Donald Trump, a...

Pelosi takes offense at reporter's question about whether she hates Trump

Washington, Dec 5 (efe-epa).- The speaker of the United States House of Representatives, Nancy Pelosi, on Thursday formally instructed the Judiciary...

US urges countries to suspend digital taxes, calls for OECD talks on issue

Washington, Dec 4 (efe-epa).- US Treasury Secretary Steven Mnuchin on Wednesday urged countries to "suspend" their individual digital services taxes and to...

Santa Claus taxi driver collects toys for poor kids in Mexico

By Manuel Lopez

Trio of legal scholars tell Congress Trump abused his power re Ukraine

Washington, Dec 4 (efe-epa).- Three prominent experts on constitutional law, called to testify by Democrats before Congress on Wednesday, told the House...

US proposes tariffs on France after Paris imposes digital tax

By Alex Segura Lozano

Barcelona's Messi wins his 6th Ballon d'Or

Paris, Dec 2 (efe-epa).- Argentine striker Lionel Messi won his record sixth Ballon d'Or in Paris on Monday, pulling ahead of Portugal's Cristiano Ronaldo,...

LatAm seeking non-traditional methods for managing data traffic

By Giovanna Ferullo

Indignation, fear in Paraisopolis, the Brazilian shantytown where 9 died

By Alba Santandreu

Brazil party ends in tragedy with 9 trampled to death

Sao Paulo, Dec 1 (efe-epa).- A huge party in the Sao Paulo shantytown - or "favela" - of Paraisopolis ended in tragedy on Sunday when at least nine people...

Guelfenbein: All my novels are feminist but I couldn't say so before

By Eduard Ribas i Admetlla

Trump celebrates Thanksgiving with troops during surprise Afghanistan visit

Washington, Nov 28 (EFE).- US President Donald Trump on Thursday celebrated Thanksgiving with troops stationed in Afghanistan, saying during his surprise...

Chilean central bank to sell $20 bn to try and halt peso's fall

Santiago, Nov 28 (efe-epa).- The Chilean Central Bank on Thursday announced that it will intervene in the currency market by selling up to $20 billion in...

People with eye injuries in Chile protests announce complaint against Piñera

Santiago, Nov 28 (efe-epa).- A group of people who have received eye injuries from shotgun pellets fired by Chilean security forces on Thursday announced...

New Yorkers turn out for Macy's Thanksgiving Day parade

New York, Nov 28 (efe-epa).- "Hey Astronaut Snoopy, we are clear for take-off!"

Brazil court hikes 2nd sentence for Lula to 17 years

Sao Paulo, Nov 27 (efe-epa).- A Brazilian court on Wednesday added five years to a 12-year prison sentence for corruption and money laundering handed down...