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Who pays Trump’s tariffs, China or U.S. customers and companies?

(FILES) In this file photo taken on November 09, 2017, US President Donald Trump (L) shakes hand with China's President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing. - China said Monday, May 13, 2019 it will raise tariffs on $60 billion worth of US goods from June 1, in retaliation to the latest round of US tariff hikes and Washington's plans to target almost all Chinese imports. The announcement came after the latest round of US-China trade negotiations ended Friday, May 10, 2019 without a deal, and after Washington increased tariffs on $200 billion worth of Chinese goods. (Photo by Fred DUFOUR / AFP)

U.S. President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States. But that is not how tariffs work. China’s government and companies in China do not pay tariffs directly. Tariffs are a tax on imports. They are paid by U.S.-registered firms to U.S. customs for the goods they import ... Read More »

EU firms ‘caught in crossfire’ of US-China trade war

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European firms are “caught in the crossfire” of the US-China trade war and fewer are optimistic about their future in the world’s second-largest economy, a business survey showed Monday. The clash between Beijing and Washington does not benefit European companies, contrary to what some might have hoped at the beginning of the dispute last year, according to the European Union ... Read More »

In Middle of Trade War, America’s Busiest Port Gets Ready for Robots

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Pier 400 in Los Angeles is North America’s largest shipping terminal. More than 1,700 trucks pass through, on average per day, even in the middle of the U.S.-China trade war. All that cargo translates into thousands of miles driven within the facility each day, mostly by diesel vehicles, spewing pollutants. For APM Terminals, the part of global shipping company A.P. ... Read More »

US imposes sanctions over Russia rights abuses despite revived ties

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The United States imposed sanctions on five Russians over abuses including the killing of a prominent opposition leader, days after top-level talks seemed to ease tensions between the two powers. The State Department highlighted the actions against the five people, plus one legal entity, as it submitted an annual report required by Congress on actions taken under a law on ... Read More »

As Trade War Rages, China’s Sway Over the U.S. Fades

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China usually gets its way. In Washington, on Wall Street and in corporate boardrooms, Beijing has used the country’s size and promise for decades to quell opposition and reward those who helped its rise. Those days may be coming to an end. As it struggles with President Trump’s trade war, a maturing and debt-laden China is discovering that it no ... Read More »

China criticizes US action against Huawei

Shoppers browse smartphones at a Huawei retail store in Hangzhou in eastern China's Zhejiang province, Thursday, May 16, 2019. In a fateful swipe at telecommunications giant Huawei, the Trump administration issued an executive order Wednesday apparently aimed at banning its equipment from U.S. networks and said it was subjecting the Chinese company to strict export controls. (Chinatopix via AP)

BEIJING : China vowed Thursday to “resolutely safeguard” Chinese companies after Washington labeled telecom equipment giant Huawei a security risk and imposed export curbs on U.S. technology sales to the company. A foreign ministry spokesman, Lu Kang, criticized the moves as an “abuse of export control measures” after the Trump administration issued an order requiring Huawei to obtain government permission ... Read More »

Customs cooperation to take aim at IPR violations

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China will expand international cooperation in enforcing intellectual property rights to facilitate trade and create a favorable business environment for enterprises from China and overseas, a customs official said on Wednesday. Cooperative customs mechanisms have been established in more than 130 countries and regions, with more than 190 agreements signed, including with major trade partners such as the United States, ... Read More »

US, Russia ‘share same objective’ on N.Korea: Pompeo

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The United States and Russia share the same goals on North Korea as Washington tries to negotiate a nuclear deal, Secretary of State Mike Pompeo said after talks with President Vladimir Putin. “I think we share the same objective and I hope that we can find ways that we can work together,” Pompeo told reporters after the talks late Tuesday ... Read More »

With Higher Tariffs, China Retaliates Against the U.S.

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BEIJING : China moved to retaliate against the United States, announcing plans on Monday to raise tariffs on American goods ranging from beer and wine to swimsuits, shirts and liquefied natural gas. The decision, which follows President Trump’s increase in tariffs on Chinese goods last Friday, escalates the pressure in the ongoing trade war. Trade talks between the two sides ... Read More »

US trade hawks flying high in battle with China

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Hours after Donald Trump ramped up trade tensions with China by inflicting higher tariffs on the country’s imports, Lou Dobbs, the conservative Fox Business Network anchor, led his evening broadcast by showering praise on the move.  “For far too long communist China has been cheating the United States on trade,” he said. “President Trump has made it clear: the failure of ... Read More »

Companies await China retaliation; weaker growth expected

Donald Trump the campaigner talked tough on China: He threatened to slap tariffs of 45% on Chinese exports, and promised to label Beijing a "currency manipulator."Full credit: Ian Berry/CNNMoney/Shutterstock

BEIJING : Companies waited Monday to see how China will retaliate for President Donald Trump’s escalation of a fight over technology and trade that threatens to disrupt a Chinese economic recovery. Regulators threatened “necessary countermeasures” for Trump’s tariff hikes Friday on $200 billion of Chinese imports. But three days later, in a break with previous tit-for-tat penalties imposed immediately, Beijing ... Read More »

China vows retaliation if Trump raises tariffs

In this April 28, 2019, photo, workers assemble truck's tires at a plant in Nantong city in east China's Jiangsu province Sunday, April 28, 2019. China's exports fell in April amid a bruising tariff war with Washington, adding to pressure on Beijing on the eve of negotiations aimed at settling the fight over its technology ambitions. (Chinatopix via AP)

BEIJING : Ratcheting up tension ahead of talks in Washington, China vowed Thursday to defend its own interests and retaliate if President Donald Trump goes ahead with more tariff hikes in a dispute over trade and technology. Beijing will impose “necessary countermeasures” if the increases take effect Friday as planned, the Commerce Ministry said. It gave no details but a ... Read More »

Oil price falls on trade dispute despite drop in US inventories

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SEOUL: Oil prices dropped on Thursday amid concerns over the escalating trade battle between the United States and China, despite a surprise fall in U.S. crude stockpiles. Brent crude oil futures were at $69.92 a barrel by 0102 GMT, down 44 cents, or 0.63 percent, from their previous settlement. U.S. West Texas Intermediate (WTI) crude futures were at $61.67 per ... Read More »

Oil rises amid surging China crude imports, US sanctions

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Oil prices rose on Wednesday as U.S. sanctions on crude exporters Iran and Venezuela as well as ongoing supply cuts by producers have left markets tight just as crude imports to China rose to a record for April. U.S. West Texas Intermediate (WTI) crude futures were at $61.96 per barrel at 0658 GMT on Wednesday, 56 cents, or 0.9 percent, ... Read More »

Trump’s escalated trade war with China could hit California ports especially hard

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LOS ANGELES : An escalation of trade tensions between the U.S. and China, including President Donald Trump’s threat to punish Beijing with additional tariffs, could deal a severe blow to California’s ports and economy, potentially putting at risk thousands of jobs, according to experts. They say the major California ports, which serve as a gateway to trade with China, have ... Read More »

Explainer: Who pays Trump’s tariffs – China and other exporters or U.S. customers?

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CHICAGO : – U.S. President Donald Trump said on Sunday he would raise tariffs to 25 percent from 10 percent on $200 billion of Chinese goods. The United States has levied tariffs on a total of $250 billion of Chinese imports, global steel and aluminum imports, and shipments of washing machines and solar panels since January 2018, when Trump’s administration ... Read More »

China’s African swine fever outbreak and US trade war combine to create perfect storm for Chinese economy

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When China levied additional tariffs on pork from the United States last year, Zhu Mengzhou, a manager of an imported food distributor in Guangzhou, was one of many traders who stopped buying it. “Unless the tariffs are adjusted, the cost is too high for us,” Zhu said. Even as an outbreak of African swine fever threatens to decimate China’s most ... Read More »

Mullion US Customs and Border Protection car owner on holiday

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Its appearance in Mullion prompted many theories, but now the real reason behind the US Customs and Border Protection vehicle being parked in the village can be revealed. Jane, who lives near London, got in touch to say her son Justin owns the car and they had been staying in Mullion on holiday for the week with their dogs. She ... Read More »

US Customs and Border Protection Improves Ports of Entry with Integrated Biometrics Kojak Fingerprint Scanners

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Leading-edge mobile, low-power, low maintenance, FBI-certified scanners increase throughput, accuracy and efficiency SPARTANBURG, S.C., April 29, 2019 (GLOBE NEWSWIRE) — Integrated Biometrics, designer and maker of high performance mobile biometric fingerprint sensors, announced today that the US Customs and Border Protection (CBP) has purchased the company’s Kojak livescan 10-fingerprint scanner for deployment to more than 5000 workstations within the United ... Read More »

Ford under criminal investigation in US over auto emissions

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The US Department of Justice has launched a criminal investigation into Ford’s emissions certification process. Ford said on Friday it was fully cooperating with government agencies, as it became the latest car manufacturer to be investigated over emissions. However, Ford said the concerns did not involve the use of defeat devices – the cheat software used to deliberately lower emissions ... Read More »