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Trump ‘ready’ to intensify trade war with China

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Washington, July 20 (IANS) US President Donald Trump has said he is ready to intensify his trade war with China by slapping tariffs on all imports worth $500 billion.

“I’m ready to go to 500,” he told CNBC’s Joe Kernen in a “Squawk Box” interview broadcasted on Friday.

The reference was to the dollar amount of Chinese exports to the US in 2017 — $505.5 billion to be exact, compared to the $129.9 billion worth of Chinese imports from the US, according to the Census Bureau data.

Last week, Washington listed $200 billion worth of additional Chinese products it intends to place under the tariff regime on as soon as September.

The list named more than 6,000 items including food products, minerals and consumer goods such as handbags, to be subjected to a 10 per cent tariff. It is still under public consultation that will go on till the end of August.

The US and China already imposed tit-for-tat tariffs of $34 billion on each other’s goods.

“I’m not doing this for politics, I’m doing this to do the right thing for our country,” Trump said. “We have been ripped off by China for a long time.”

The President said the US was “being taken advantage of” on a number of fronts, including trade and monetary policy. Yet he said he has not pushed the tariffs out of any ill will towards China.

“I don’t want them to be scared. I want them to do well,” he said. “I really like President Xi Jinping a lot, but it was very unfair.”

Trump also said he was told by unspecified Chinese officials that “nobody would ever complain” from past administrations “until you came along – me. They said, ‘Now you’re more than complaining. We don’t like what you’re doing.'”

The US also wants China to stop practices that allegedly encourage transfer of intellectual property — design and product ideas — to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market.

Trump previously hinted at such an escalation, telling reporters two weeks ago that there was “$300 billion in abeyance” after the $200 billion of goods covered by the latest list, but this is his most explicit threat yet.

Many companies in the US are opposed to the administration’s use of tariffs against China, saying they risk hurting business and the economy without being likely to change behaviour.

European stock markets fell after the interview was broadcast, with the FTSE 100 down 0.2 per cent.

–IANS
soni/sed

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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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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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