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China, U.S. kick off new round of tariffs in trade war

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China and the United States began imposing additional tariffs on each other’s goods on Sunday, the latest escalation in a bruising trade war, despite signs that talks would resume some time this month.

A new round of tariffs took effect from 0401 GMT, with Beijing’s levy of 5% on U.S. crude marking the first time the fuel has been targeted since the world’s two largest economies started their trade war more than a year ago.

The Trump administration will begin collecting 15% tariffs on more than $125 billion in Chinese imports, including smart speakers, Bluetooth headphones and many types of footwear.

In retaliation, China started to impose additional tariffs on some of the U.S. goods on a $75-billion target list. Beijing did not specify the value of the goods that face higher tariffs from Sunday.

The extra tariffs of 5% and 10% were levied on 1,717 items of a total of 5,078 products originating from the United States. Beijing will start collecting additional tariffs on the rest from Dec. 15.

Chinese state media struck a defiant note.

“The United States should learn how to behave like a responsible global power and stop acting as a ‘school bully’,” the official Xinhua news agency said.

“As the world’s only superpower, it needs to shoulder its due responsibility, and join other countries in making this world a better and more prosperous place. Only then can America become great again.”

Tariffs could not impede China’s development, said the official People’s Daily of the ruling Communist Party.

“China’s booming economy has made China a fertile ground for investment that foreign companies cannot ignore,” it said, in a commentary under the name ‘Zhong Sheng’, or ‘Voice of China’, which is often used to state its view on foreign policy issues.

Last month, U.S. President Donald Trump said he was increasing existing and planned tariffs by 5% on about $550-billion worth of Chinese imports after Beijing announced its own retaliatory tariffs on U.S. goods.

Tariffs of 15% on cellphones, laptop computers, toys and clothing are to take effect on Dec. 15.

The U.S. Trade Representative’s Office said on Thursday it would collect public comments through Sept. 20 on a planned tariff increase to 30% on a $250-billion list of goods already hit with a 25% tariff.

Trade teams from China and the United States continue to talk and will meet in September, but tariff hikes on Chinese goods set to go in place on Sunday will not be delayed, Trump has said.

For two years, the Trump administration has sought to pressure China to make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access.

China has consistently denied Washington’s accusations that it engages in unfair trade practices, vowing to fight back in kind and criticizing U.S. measures as protectionist.

China has pressed the United States to cancel the tariff increase, but said last week that a September round of talks was being discussed between the two.

The trade war further strains Beijing-Washington ties, already overshadowed by U.S. freedom of navigation exercises near Chinese-occupied islands in the disputed South China Sea, and U.S. support for self-ruled and democratic Taiwan, which China claims as its own.

24 Hours Across Africa

Liverpool maintain perfect start after beating Chelsea

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Alexander Arnold’s 15th minutes thounderous strike and Firmino effort at Stamford bridge earn Liverpool five points lead over Manchester city.

Liverpool are the first team to win their opening six Premier League games in successive seasons.

After an intensed play, Chelsea have a goal rule out over Var decision, on 71th minutes Ngolo konte score a hard fought goal.

Liverpool fans has loud Adrian over his resilience performance after saving chances from Tammy Abraham, Michy Batshuayi and Mason Mount.

 

 

 

 

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24 Hours Across Africa

Facebook suspends thousands of apps in response to Cambridge Analytica row

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Facebook Inc said, it has suspended tens of thousands of apps on the social networking platform, as part of the company’s ongoing app developer investigation it began in March 2018 in response to the Cambridge Analytica row.

The suspended apps are associated with about 400 developers, Facebook said, adding that it is not necessarily an indication that these apps were posing a threat to users.

Earlier this year, the company agreed to pay a record-breaking $5 billion fine to the U.S. Federal Trade Commission (FTC) to resolve a government probe into its privacy practices.

The FTC privacy probe was triggered last year by allegations that Facebook violated a 2012 consent decree and inappropriately shared information of 87 million users with British political consulting firm Cambridge Analytica.

Facebook has since agreed to boost safeguards on user data and has put curbs on the amount of information that third-party developers can request from platform users.

“… We’re making progress. We won’t catch everything, and some of what we do catch will be with help from others outside Facebook,” the company said in a blogpost.

Source: Reuters

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