US launched 'biggest trade war in economic history', alleges China

Agencies
July 7, 2018

Washington DC, Jul 07: China has alleged the United States (US) of commencing "the biggest trade war in economic history" as both the countries slapped tariffs worth billions of dollars on each other's exports.

US' trade war with China officially began on Friday as the Trump administration imposed tariffs of USD 34 billion on Chinese imports, escalating a fight that could hurt companies and consumers in both the countries.

Chinese goods being hit by US levies include cars, computer disk drives, pump and valve parts and LEDs.

This prompted Beijing to respond with levies on US imports.

"China is forced to strike back to safeguard core national interests and the interests of its people," CNN Money quoted Chinese Commerce Ministry, as saying in a statement on Friday.

It also accused the US of resorting to "typical trade bullying."

China's retaliatory tariffs on the US goods would immediately go into effect on exports like soybeans, seafood, SUVs and crude oil.

Beijing previously issued a list of American commodities, including soybean and electric cars, worth $34 billion, which it said would be subject to 25 per cent tariffs.

United States President Donald Trump on Thursday said that the first wave of tariffs of USD 34 billion in goods would be swiftly followed by another penalty on Chinese goods worth USD 16 billion.

The United States president went on to threaten Beijing with escalating tariffs on as much as $450 billion worth of Chinese goods.

The Trump administration has been recently slapping tariffs on other countries, claiming that the US was "being treated unfair on trade," raising grave concerns of a global trade war.

The US had announced imposition of 25 and 10 percent tariffs on steel and aluminium respectively on three of its biggest trading partners - Canada, Mexico and the European Union on May 31.

In retaliation, the EU and Canada slapped tariffs in a tit-for-tat move.

Last month, the EU imposed tariffs on American goods worth USD 3 billion such as yachts, bourbon and motorcycles

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Agencies
March 25,2020

Moscow, Mar 25: An earthquake measuring 7.5 on the Richter scale struck off Russia's Kuril Islands on Wednesday, the United States Geological Survey (USGS) said.

The magnitude of the quake, which occurred at 2:49 am (UTC), was registered at a depth of 56.7 kilometres, about 219 kilometres southeast of the Russian town of Severo-Kuril'sk, the USGS said.

There were no immediate reports of casualties or damage to the property as a result of the quake.
Further details are awaited.

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News Network
February 19,2020

Beijing, Feb 19: The death count from China's new coronavirus epidemic jumped to 2,000 on Wednesday after 132 more people died in Hubei province, the hard-hit epicentre of the outbreak.

In its daily update, the province's health commission also reported 1,693 new cases of people infected with the virus.

This brings the total number of cases in mainland China past 74,000.

Most of the cases are in Hubei, where the virus first emerged in December before spiralling into a nationwide epidemic.

Wednesday's jump in the death count was an increase on Tuesday's figures, although the number of new cases reported in Hubei were the lowest for a week.

A study released by Chinese officials claimed most patients have mild cases of the illness.

Outside of hardest-hit Hubei, which has been effectively locked down to try to contain the virus, the number of new cases has been slowing and China's national health authority has said this is a sign the outbreak is under control.

President Xi Jinping, in a phone call with the British prime minister, said China's measures were achieving "visible progress", according to state media Tuesday.

However, the World Health Organization has cautioned that it was too early to tell if the decline would continue.

On Tuesday the director of a hospital in the central Hubei city of Wuhan became the seventh medical worker to succumb to the COVID-19 illness.

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News Network
July 1,2020

Washington, Jul 1: The United States has approved four coronavirus vaccine candidates for clinical trials, Food and Drug Administration (FDA) head Stephen Hahn told reporters.

"Four vaccines have been approved for moving into clinical trials... and another six are in the pipeline for us to review," Hahn said during a press briefing on Tuesday.

The US Administration launched in May Operation Warp Speed, a joint project of Health and Defense Departments, which aims to deliver 300 million doses of a vaccine for COVID-19 by January 2021.

The country's top pandemics expert Anthony Fauci warned on Tuesday, however, that there is no certainty the United States will be able to develop a vaccine against COVID-19 that works and will be safe.

Data on vaccine effectiveness, he added, may be available in the winter or early next year.

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