Tag: China

TRUMP THREATENS FURTHER $100BN IN TARIFFS AGAINST CHINA

China auto factoryUS President Donald Trump has instructed officials to consider a further $100bn (£71.3bn) of tariffs against China, in an escalation of a tense trade stand-off.

These would be in addition to the $50bn worth of US tariffs already proposed on hundreds of Chinese imports.

The proposal comes after China retaliated to that by threatening tariffs on 106 key US products. The tit-for-tat moves have unsettled global markets in recent weeks.

Analysts have said a full blown trade war between the US and China would not be good for the global economy or markets – and that ongoing behind-the-scenes negotiations between the two giants were crucial.

But market reaction in Asia trade on Friday suggested investors were not too troubled by the latest twist, and that trade war fears were somewhat exaggerated.

In China, Hong Kong’s Hang Seng was in positive territory, up 1.3%. Japan’s benchmark Nikkei 225 was also trading higher in the afternoon session.

TIANGONG-1: DEFUNCT CHINA SPACE LAB COMES DOWN OVER SOUTH PACIFIC

China’s defunct Tiangong-1 space lab mostly broke up on re-entering the Earth’s atmosphere above the South Pacific, Chinese and US reports say.

It re-entered the atmosphere around 00:15 GMT on Monday, China’s Manned Space Engineering Office said. Tiangong-1 was launched in 2011 to carry out docking and orbit experiments.

It was part of China’s efforts to build a manned space station by 2022, but stopped working in March 2016. The rather vague “above the South Pacific” is the line from space officials. Continue reading

DONALD TRUMP SIGNS TAIWAN TRAVEL ACT, DRAWING CHINA’S IRE

Protester holds Taiwanese and US flags

US President Donald Trump has signed a law promoting official exchanges between the US and Taiwan. The move could further strain US-China ties.

Trump on Friday signed legislation promoting contacts between Washington officials and their Taiwanese counterparts, angering China, which considers Taiwan as part of its territory.

The Taiwan Travel Act will allow unrestricted two-way travel for officials from the United States and Taiwan, thus restoring direct official US contacts with the self-ruled island, which were cut in 1979 when Washington switched diplomatic recognition from Taipei to Beijing.

The White House said the bill, which was passed unanimously by Congress, would go into effect on Saturday morning even without the president’s signature.

The United States still does not have formal ties with Taiwan, but is required by law to help it with self-defense.

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