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Trump imposes 25% tariffs on Chinese goods as trade war widens (Lead)
Washington, June 15 (IANS) President Donald Trump on Friday slapped 25 per cent tariffs on $50 billion worth of Chinese goods that are imported into the US, threatening to escalate what had primarily been a war of words between the worlds two largest economies into a full-blown trade war.
The US accused Beijing of intellectual copyright theft and said it will impose further tariffs if China retaliates, the New York Times reported.
The tariffs affect more than 800 types of products and are due to come into effect on July 6.
In a statement, Trump said the US would levy the tariffs on goods that contain “industrially significant technologies”, including those that relate to the country’s “Made in China” 2025 plan for dominating high-tech industries.
He said the tariffs were “essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs”.
“The US can no longer tolerate losing our technology and intellectual property through unfair economic practices.”
The President’s announcement to go ahead with imposing penalties on China is the latest twist by White House that has wavered between taking a tough stance on Chinese trade practices and declaring that the trade war was “on hold”.
Beijing said it will retaliate by imposing its own tariffs on a list of roughly $50 billion in American exports, a list likely to include agricultural products and manufactured goods.
“If the US takes unilateral protectionist measures and harms China’s interests, we will respond immediately and take necessary measures to firmly safeguard our legitimate rights,” Chinese Foreign Ministry spokesman Geng Shuang said earlier on Friday.
The US President first announced that Washington would impose trade penalties on about $50 billion of Chinese goods in March. “We have a tremendous intellectual property theft problem,” Trump said at the time.
The list of Chinese products that the Trump administration proposed taxing in early April included flat-screen televisions, medical devices, aircraft parts and hundreds of additional products. It had previously said it would release a revised list of affected products by June 30 and put tariffs into effect shortly thereafter.
After China warned it would retaliate, Trump threatened tariffs on a further $100 billion of Chinese products. In mid-May, both sides announced a ceasefire after two rounds of trade negotiations. Treasury Secretary Steven Mnuchin subsequently declared the trade war “on hold”.
Ten days later, the White House abruptly said it would proceed with the tariffs, along with new limits on Chinese investments in the US. A further round of trade talks in Beijing earlier this month failed to yield any breakthroughs.
–IANS
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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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