Trump 'ready' to intensify trade war with China
Washington, July 20 : US President Donald Trump has said he is ready to intensify his trade war with China by slapping tariffs on all imports worth $500 billion.
"I'm ready to go to 500," he told CNBC's Joe Kernen in a "Squawk Box" interview broadcasted on Friday.
The reference was to the dollar amount of Chinese exports to the US in 2017 -- $505.5 billion to be exact, compared to the $129.9 billion worth of Chinese imports from the US, according to the Census Bureau data.
Last week, Washington listed $200 billion worth of additional Chinese products it intends to place under the tariff regime on as soon as September.
The list named more than 6,000 items including food products, minerals and consumer goods such as handbags, to be subjected to a 10 per cent tariff. It is still under public consultation that will go on till the end of August.
The US and China already imposed tit-for-tat tariffs of $34 billion on each other's goods.
"I'm not doing this for politics, I'm doing this to do the right thing for our country," Trump said. "We have been ripped off by China for a long time."
The President said the US was "being taken advantage of" on a number of fronts, including trade and monetary policy. Yet he said he has not pushed the tariffs out of any ill will towards China.
"I don't want them to be scared. I want them to do well," he said. "I really like President Xi Jinping a lot, but it was very unfair."
Trump also said he was told by unspecified Chinese officials that "nobody would ever complain" from past administrations "until you came along - me. They said, 'Now you're more than complaining. We don't like what you're doing.'"
The US also wants China to stop practices that allegedly encourage transfer of intellectual property -- design and product ideas -- to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market.
Trump previously hinted at such an escalation, telling reporters two weeks ago that there was "$300 billion in abeyance" after the $200 billion of goods covered by the latest list, but this is his most explicit threat yet.
Many companies in the US are opposed to the administration's use of tariffs against China, saying they risk hurting business and the economy without being likely to change behaviour.
European stock markets fell after the interview was broadcast, with the FTSE 100 down 0.2 per cent.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Actor Esha Gupta returns to India after being stuck in UAE, says it was a ‘tough’ situation
Mumbai (PTI): Actor Esha Gupta on Tuesday said she has safely returned to India after being stranded in the United Arab Emirates amid escalating tension due to the Israel-US attack on Iran.
“Back home. Thank you all for your prayers and wishes. It was very tough to be in the situation we all faced. Truly God’s blessing to be safe,” Gupta said in a statement posted on Instagram.
Tensions in the middle east have escalated following a coordinated offensive launched by the United States and Israel against Iran on February 28. Iran responded by firing drones and missiles at Israel and US military installations across the Gulf, and also at the global business hub of Dubai.
The actor, best known for “Jannat 2”, “Rustom” and “Total Dhamaal”, also recounted the tense atmosphere at the Abu Dhabi airport.
“It started when I was at the airport on the 28th (Saturday). By 1 p.m., the airport was closed, chaos all around as none of us knew what had happened. Then the news started coming of the missile attack, and no one knew what the next minute held for us. Strangers consoled each other, all calling their families back home,” Gupta said.
The actor lauded the “strength” and the “composure” of the Abu Dhabi International Airport staff and added that ground security and airport personnel acted immediately to maintain order.
“I hadn’t checked in myself by then, so I took a turn and left for my hotel in Abu Dhabi,” she said, adding that passengers were provided accommodations at available hotels and highlighting the dedication of hotel staff during such a tense situation.
She further said the hotel management answered all their questions patiently to the best of their ability and that there was no shortage of any service.
“The lobby was full of people, including us, scared due to the security alert, but there was no chaos. The hotel security kept reassuring everyone. Not once did we see the people, all scared internally, create stress; we were all in this together,” Gupta said and even thanked the airline staff for their assistance.
“All this shows just the backbone of a country and its strength; they took action when needed, no blaming anyone, just strong decisions. Thank you to everyone who helped and is helping people of the world get back home. Your country is truly special,” she said.
Gupta concluded her post by thanking everyone who helped ensure her safe return.
“Thank you for our government for providing its citizens with reassurance and working towards getting us all back. Thank you to UAE government in working in solidarity with every country for the citizens of the world,” she said.
Actor Sonal Chauhan also updated her fans and admirers that she is heading back home after being stranded in Dubai.
The actor shared the update through her Instagram Stories with a few videos showing her travelling in a car on her way to the airport, with the song ‘Coming Home’ by Skylar Grey playing in the backdrop.
