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Trump puts 25% tariff on Chinese goods, Beijing vows retaliation (Second 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, prompting vows of swift retaliation from Beijing and turning a spat into a full-blown trade war between the worlds two largest economies.
“The US has kept changing its mind and now launched a trade war,” China’s Commerce Ministry said in response to the announcement.
“We will immediately launch tariff measures that will match the scale and intensity of those launched by the US.”
“China does not want a trade war,” the ministry said, adding that it would “fight back vigorously” in defence of its national interests, globalization and the world trade system.
The Chinese government said it would respond in kind to the US tariffs, which will apply to roughly 1,100 exports and will target China’s aerospace, robotics, manufacturing and auto industries.
Trump’s tariffs were “damaging” relations and “undermining the world trade order”, China said.
Tariffs that affect more than 800 products worth $34 billion in annual trade are due to come into effect on July 6.
The White House said it would consult on tariffs on the other $16 billion of products and would apply these later, the New York Times reported.
“If China retaliates, as it has already pledged to do, the US will impose even more tariffs,” Trump warned as he accused Beijing of intellectual copyright theft.
He 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.
The tariffs were “essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs”, Trump said, adding that the US “can no longer tolerate losing our technology and intellectual property through unfair economic practices”.
The Chinese product lines that have been hit range from aircraft tyres to turbines and commercial dishwashers.
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. The tariffs, in motion for months, met with fierce criticism in the US from affected companies as well as farmers and others fearful of retaliation.
The plans won praise from Democrats and opposition from Republicans, who typically favour free trade policies.
Tensions could escalate further in the coming weeks as the White House is formulating a plan for restricting Chinese investments in the US and putting stricter limitations on the types of advanced technology that can be exported to the country.
–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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