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Trump threatens China with additional $100bn tariffs (Second Lead)
Washington, April 6 (IANS) US President Donald Trump has said he is considering slapping an additional $100 billion in tariffs on Chinese goods, moving the world’s two largest economies closer to an open trade brawl.
Trump on late Thursday said that he was responding to “unfair retaliation” by China, which published a list on Wednesday of $50 billion in American products that would be hit by tariffs, including soybeans and pork. That move was a direct reaction to the tariffs on $50 billion in Chinese goods that the White House detailed on Tuesday, the US media reported.
China’s Ministry of Commerce responded, saying Beijing would “not hesitate to pay any price” to defend its interests. “We don’t want a trade war, but we are not afraid of such a war,” it said.
The US President in his announcement said: “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.
“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.
Amid the ongoing row, Chinese Foreign Minister Wang Yi said: “China and the US as two world powers should treat each other on a basis of equality and with respect. By waving a big stick of trade sanctions against China, the US has picked a wrong target.”
The announcement came one day after some of Trump’s advisers tried to calm markets and tamp down fears of a trade war between the two countries, saying that the tariff threats were the first step in a negotiation process, the New York Times reported.
Trump said the potential for new tariffs would not preclude discussions with the Chinese “to protect the technology and intellectual property of American companies and American people”.
The stock market was closed when the White House released Trump’s statement about the additional tariffs, but Wall Street futured pointed lower for Friday trading. Markets in mainland China were closed for a holiday. Asia-Pacific markets largely shrugged off the news. European exchanges were down slightly.
The row started with the US President imposing tariffs on Chinese steel and aluminium in March, which also prompted a response from China.
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.
Chinese President Xi Jinping is scheduled to give a major speech on Tuesday at the Bo’ao Forum on the Chinese island of Hainan, which may give more clues to China’s response.
–IANS
soni/mr
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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