Trump threatens to slap $100bn additional tariffs on China
Washington: US President Donald Trump has ratcheted up the trade war rhetoric with China, saying he was considering an additional $100 billion in tariffs on the country, the media reported.
"In light of China's unfair retaliation, I have instructed the US Trade Representative (USTR) to consider whether $100 billion of additional tariffs would be appropriate," CNN quoted the President as saying in a statement late Thursday.
"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers," Trump's statement said.
The President added that he instructed to the USTR also to "identify the products upon which to impose" the additional tariffs.
In responce, USTR Robert Lighthizer called Trump's request "appropriate".
Earlier this week, the US announced new tariffs on $50 billion worth of Chinese goods, claiming that Beijing was stealing American intellectual property, CNN reported.
China responded within hours by announcing $50 billion worth of tariffs on US goods.
The moves follow US tariffs that were imposed last month on Chinese steel and aluminium, which also prompted a response from China.
Thursday's announcement also rattled markets.
Dow futures fell after Trump's announcement and were down more than 300 points, or about 1.5 per cent in after-hours trading.
The Chinese embassy in Washington did not immediately issue a response to the proposed new round of tariffs, CNN reported.
The Chinese government had said earlier this week that it would respond with equal measure to any new duties on its goods.
Trump's latest threat was met with criticism from members of his own Republican party.
Nebraska Senator Ben Sasse called the move "the dumbest possible way to do this".
"Hopefully the President is just blowing off steam again but, if he's even half-serious, this is nuts... He's threatening to light American agriculture on fire," Sasse added.
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.
PM Modi speaks to Iranian president, discusses 'serious' situation in West Asia
New Delhi (PTI): Prime Minister Narendra Modi on Thursday night spoke to Iranian President Masoud Pezeshkian over the phone and discussed the "serious situation" in West Asia.
Modi expressed deep concern over the escalation of tensions in the region and the loss of civilian lives as well as damage to civilian infrastructure.
The prime minister told the Iranian President that the safety and security of Indian nationals, along with the need for unhindered transit of goods and energy, remain India's top priorities.
“Had a conversation with Iranian President, Dr Masoud Pezeshkian, to discuss the serious situation in the region. Expressed deep concern over the escalation of tensions and the loss of civilian lives as well as damage to civilian infrastructure,” Modi said in a post on X.
The prime minister also reiterated India's commitment to peace and stability and urged dialogue and diplomacy to end the crisis.
The prime minister had spoken to leaders of several West Asian countries in the last 10 days in the wake of the coordinated offensive launched against Iran by the United States and Israel, in which the Islamic country's Supreme Leader, Ali Khamenei, was killed last month.
In retaliation, Iran has fired drones and missiles at Israel and US military installations around the Gulf region, including the global business and aviation hubs of Dubai and Doha.
Modi earlier spoke to the leaders of Oman, Kuwait, Bahrain, Saudi Arabia, the UAE, Jordan, Israel and Qatar, and expressed concern over the attacks on their countries, and condemned the violation of some nation’s sovereignty and territorial integrity.
He also discussed the welfare and security of the Indian community residing in those countries.
Around 1 crore Indians live in the Gulf and West Asia. While about 10,000 Indian citizens live, study and work in Iran, more than 40,000 live in Israel.
