Politics

China threatens retaliation for Trump’s planned tariff hike

Published

7 years ago

August 2, 2019

BEIJING (AP) — China on Friday threatened retaliation if U.S. President Donald Trump’s planned tariff hikes go ahead, while the renewed acrimony between the two biggest global economies sent stock markets tumbling.

China’s government accused Trump of violating his June agreement with President Xi Jinping to revive negotiations aimed at ending a costly fight over Beijing’s trade surplus and technology ambitions.

Trump rattled financial markets with Thursday’s surprise announcement of 10% tariffs on $300 billion of Chinese imports, effective Sept. 1. That would extend punitive duties to everything the United States buys from China.

If that goes ahead, “China will have to take necessary countermeasures to resolutely defend its core interests,” said a foreign ministry spokeswoman, Hua Chuying.

“We don’t want to fight, but we aren’t afraid to,” Hua said at a regular news briefing. She called on Washington to “abandon its illusions, correct mistakes, and return to consultations based on equality and mutual respect.”

Washington and Beijing are locked in a battle over complaints China steals or pressures companies to hand over technology. The Trump administration worries American industrial leadership might be threatened by Chinese plans for government-led creation of global competitors in robotics and other technologies. Europe and Japan echo U.S. complaints those plans violate Beijing’s market-opening commitments.

Washington earlier imposed 25% tariffs on $250 billion in Chinese products. Beijing has retaliated by raising import duties on $110 billion of U.S. goods.

Beijing is about to run out of American imports for retaliation due to their lopsided trade balance.

China imported U.S. goods worth about $160 billion last year. But regulators have extended retaliatory measures to include slowing down customs clearance for American companies and putting off issuing license in insurance and other fields.

Beijing also is threatening to release an “unreliable entities” blacklist of foreign companies that might face restrictions on doing business with China. Plans for that were announced after Washington imposed crippling restrictions in May on sales of U.S. technology to Chinese tech giant Huawei Technologies Ltd.

Trump’s announcement surprised investors after the White House said Beijing promised to buy more farm goods. It came as their latest trade talks ended in Shanghai with no sign of a deal. Officials said they would resume next month in Washington.

The announcement “is likely to put a comprehensive deal further out of reach,” said Fitch Solutions in a report.

Tokyo’s main stock market index fell 2.5% by midday and Hong Kong’s benchmark lost 2.3%. Markets in Shanghai, Sydney and Seoul also declined.

Earlier on Wall Street, the benchmark Standard & Poor’s 500 fell for a fourth day, losing 0.9% to 2,953.56.

The Dow Jones Industrial Average declined 1% to 26,583.42. The Nasdaq composite ended 0.8% lower at 8,111.12.

Also Friday, China’s yuan fell to its lowest level this year against the dollar after Trump’s tariff threat fueled concerns about slowing economic growth, coming close to breaking the politically sensitive level of seven to the U.S. currency.

The yuan tumbled to 6.9520 to the dollar, its weakest since December, but recovered slightly by midday.

Trump’s threat “will likely put more depreciation pressure” on the currency, said Tao Wang of UBS in a report. She said Beijing is likely to “tightly manage” the exchange rate “to avoid any significant depreciation.”

The currency’s weakness is helping to fuel Washington’s trade complaints. The U.S. Treasury Department declined in May to label China a currency manipulator but said it was closely watching Beijing.

The level of seven yuan to the dollar has no economic significance, but could revive U.S. attention to the exchange rate.

Trump’s earlier tariffs were intended to minimize the impact on ordinary Americans by focusing on industrial goods. But the new tariffs will hit a vast range of consumer products from cellphones to silk scarves.

China’s foreign minister criticized the move.

“Imposing tariffs is definitely not the right way to resolve trade frictions,” Wang Yi told reporters in Bangkok, where he was attending a meeting of the Association of Southeast Asian Nations.

Trump has long said he was preparing to tax the $300 billion in additional Chinese tariffs. But he had suspended the threat after meeting Xi at a gathering of the Group of 20 major economies in Osaka, Japan.

The president accused Beijing of failing to follow through on stopping the sale of fentanyl to the United States or on purchasing large quantities of farm goods such as soybeans. Speaking to reporters Thursday at the White House, Trump complained Xi is “not moving fast enough.”

Talks broke down in May after the United States accused the Chinese of reneging on earlier commitments.

Politics

FORMER PRESIDENTS, CIVIL RIGHTS LEADERS GATHER FOR OPENING OF OBAMA PRESIDENTIAL CENTER

Published

4 days ago

June 18, 2026

FNN NEWS

FORMER PRESIDENTS, CIVIL RIGHTS LEADERS GATHER FOR OPENING OF OBAMA PRESIDENTIAL CENTER

Photo Credit: Angie McMonigal

CHICAGO (FNN NEWS) — The long-awaited Barack Obama Presidential Center officially opened Thursday with a star-studded dedication ceremony on Chicago’s South Side, drawing former presidents, national leaders, celebrities, and thousands of invited guests.

The ceremony began at 11 a.m. CDT with Chicago native and Grammy Award-winning singer Jennifer Hudson performing the national anthem.

Obama Center Opens

Former President Barack Obama and former First Lady Michelle Obama delivered remarks celebrating the opening of the center, which is designed to serve as a cultural, educational, and civic engagement hub.

The opening marks the formal debut of one of the most anticipated presidential centers in modern history. The campus opens to the public on Juneteenth and is expected to attract visitors from across the United States and around the world.

Former Presidents in Attendance

Among the dignitaries attending the ceremony were:

Former President Joe Biden
Former President George W. Bush
Former President Bill Clinton
Former First Lady Jill Biden
Former First Lady Laura Bush
Former Secretary of State and former First Lady Hillary Clinton

National Leaders and Celebrities Attend

The event also attracted prominent political leaders, civil rights advocates, entertainers, and business leaders, including:

California Gov. Gavin Newsom
Pennsylvania Gov. Josh Shapiro
Civil rights leaders Andrew Young and Al Sharpton
Media icon Oprah Winfrey
Comedians David Letterman, Conan O’Brien, and Stephen Colbert
Actor Tom Hanks
Tennis legend Billie Jean King
Chicago Cubs Chairman Tom Ricketts

Several attendees, including Newsom and Shapiro, are widely viewed as potential contenders for the 2028 Democratic presidential nomination.

A Landmark for Chicago’s South Side

The opening of the Obama Presidential Center represents a significant milestone for Chicago’s South Side, bringing national attention, tourism, and economic development opportunities to the community.

Thousands of invited guests attended the ceremony, while residents and supporters gathered at a free public watch party to celebrate the historic occasion.

The center is expected to serve as a lasting tribute to the legacy of the nation’s 44th president while inspiring future generations of leaders through civic engagement, education, and public service.

About the Obama Presidential Center

The Obama Presidential Center is a world-class campus dedicated to preserving and advancing the legacy of President Barack Obama and First Lady Michelle Obama. The center includes museum exhibits, public gathering spaces, educational programming, and community resources aimed at fostering leadership and civic participation.

Politics

CARICOM Launches Online Platform for 51st Heads of Government Meeting Gros Islet, Saint Lucia conference set for July 5-8, 2026

Published

4 days ago

June 18, 2026

FNN NEWS

GEORGETOWN, Guyana (FNN NEWS) — The Caribbean Community (CARICOM) Secretariat has launched a dedicated online platform for the upcoming 51st Regular Meeting of the Conference of Heads of Government of CARICOM, scheduled to take place in Gros Islet, Saint Lucia, from July 5-8, 2026.

Central Hub for Meeting Information

The online platform will serve as the primary source of information for media representatives, government officials, stakeholders, and the public leading up to and during the conference.

Available at CARICOM 51st Heads of Government Meeting Platform, the website features:

Information on the Opening Ceremony speakers
A detailed program of events
A profile of the incoming CARICOM Chair
Daily news updates
Photo and video galleries
Livestreams of the Opening Ceremony
Livestreams of the Closing Media Conference

The official Meeting Communiqué, summarizing decisions and outcomes from the conference, will also be published on the platform following the conclusion of the meeting.

Media Encouraged to Bookmark Platform

CARICOM officials are encouraging members of the media and other stakeholders to bookmark the website and visit regularly for updates throughout the conference.

The Secretariat also invited users to follow and engage with CARICOM’s social media channels using the hashtag #51HGC for real-time updates and coverage.

About CARICOM

Caribbean Community (CARICOM) was established on July 4, 1973, with the signing of the Treaty of Chaguaramas. The treaty was revised in 2001 to facilitate the creation of the CARICOM Single Market and Economy (CSME).

CARICOM comprises 15 Member States and six Associate Members, representing approximately 16 million citizens across the Caribbean region. Nearly 60 percent of the Community’s population is under the age of 30.

The organization’s work is centered on four primary pillars:

Economic integration
Foreign policy coordination
Human and social development
Security cooperation

CARICOM’s vision is to build an integrated, inclusive, and resilient Caribbean Community driven by knowledge, innovation, excellence, and productivity while promoting human rights, social justice, and sustainable economic prosperity.

Headquartered in Georgetown

The principal administrative organ of the Community, the CARICOM Secretariat, is headquartered in Georgetown and coordinates the implementation of regional policies and initiatives among Member States.

CARICOM remains one of the most successful examples of regional integration in the developing world.

Politics

State Department Offers Up to $15 Million in Rewards for MS-13 Leaders Wanted on Terrorism, Drug Trafficking Charges

Published

4 days ago

June 18, 2026

FNN NEWS

WASHINGTON (FNN NEWS) — The U.S. Department of State announced Thursday that it is increasing reward offers totaling up to $15 million for information leading to the arrest and/or conviction of two senior leaders of Mara Salvatrucha (MS-13), a transnational criminal organization designated as a Foreign Terrorist Organization (FTO).

Reward Offers Increased

The State Department’s Bureau of International Narcotics and Law Enforcement Affairs announced a reward of up to $10 million for information leading to the arrest and/or conviction of Yulan Adonay Archaga Carías, also known as “Porky,” and up to $5 million for information leading to the arrest and/or conviction of Víctor Eduardo Morales Zelaya, also known as “Cuervo.”

The reward offers were announced by Thomas “Tommy” Pigott, spokesperson for the U.S. Department of State.

MS-13 Leadership in Honduras

According to federal court documents, Archaga Carías and Morales Zelaya are the highest-ranking members of MS-13 operating in Honduras. Authorities allege they direct the gang’s criminal operations, including:

Drug trafficking
Money laundering
Murder
Kidnappings
Other violent criminal activities

Federal authorities also allege the two men are responsible for coordinating the importation of significant quantities of cocaine into the United States. Both remain fugitives.

Among America’s Most Wanted

Archaga Carías is listed on the FBI’s Ten Most Wanted Fugitives list and is also among the most wanted fugitives sought by the Drug Enforcement Administration (DEA) and Homeland Security Investigations (HSI).

The case is part of the Homeland Security Task Force (HSTF) established under Executive Order 14159. The task force is a permanent, whole-of-government initiative focused on dismantling criminal cartels, foreign gangs, transnational criminal organizations, and human smuggling and trafficking networks operating in the United States and abroad.

How to Provide Information

The reward offers were authorized by the Under Secretary for Arms Control and International Security under the Transnational Organized Crime Rewards Program (TOCRP), which supports global law enforcement efforts to combat transnational criminal organizations.

Anyone with information is encouraged to contact the FBI through WhatsApp, Signal, or Telegram at +1-832-267-1688.

Individuals located outside the United States may also contact the nearest U.S. embassy or consulate. Those within the United States may contact their local FBI field office.

Confidentiality Guaranteed

U.S. officials emphasized that all identities of individuals providing information will be kept strictly confidential. Government officials and employees are not eligible for rewards based on information obtained through their official duties.