WASHINGTON - US President Donald Trump said Monday that tanks and warplanes will take part at the event he's hosting -- in a major change of tradition -- to celebrate the July 4 holiday. Opponents have criticized the US president for placing himself at the center of the independence day holiday Thursday by planning a speech from the steps of the Lincoln Memorial on the National Mall in Washington, DC. Trump said his event would only add to what has long been considered a non-partisan day, when Americans of all stripes gather across the country to celebrate the nation's founding. "It will be like no other, it will special," he told reporters in the White House. Trump confirmed US media reports that in another break with the past, he has asked for major military hardware to be on display. There will be "planes going overhead, the best fighter jets in the world," and "we're going to have some tanks stationed outside," he said. sms/ft © Agence France-Presse … [Read more...] about Tanks, warplanes to join Trump’s July 4 event
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Debunking Donald Trump’s ‘rape by China’ rhetoric
Wherever Donald Trump campaigns, he tells his audience that China is “raping” (I honestly don’t have a clue why he uses such a word) the United States with a huge trade deficit while also stealing US jobs. Like father, like son, commentators from pro-Trump media such as Fox News and CNBC repeat the same irresponsible rhetoric when they talk about China’s trade policy. But let us look at the truth. In the late 1970s and ’80s, rising costs prompted many American companies to close down their manufacturing facilities and move overseas. At that time China was opening its door to foreign investments under Deng Xiaoping’s “Four Modernisations” plan. As a result, factories began mushrooming along the South China coast. American companies were able to utilise cheap Chinese labour and buy cheap imported items. Often the imported merchandise was marked up five to 10 times, creating a huge consumer-based domestic economy and flourishing retail … [Read more...] about Debunking Donald Trump’s ‘rape by China’ rhetoric
Trump’s Huawei ban raises hopes for Chinese chip suppliers
SHANGHAI: Washington's blacklisting of technology giant Huawei has taken a toll on U.S. semiconductor shares, but China-listed firms have rallied as investors bet they can gain from Beijing's stepped-up efforts to build a homegrown supply chain.Share price gains of little-known firms such as Shenzhen Fastprint Circuit Tech and Jiangsu Changjiang Electronics Technology could be fleeting, analysts say, but Huawei's troubles could accelerate a long-term campaign in China to replace imported technologies.Since the White House added Huawei Technologies Co Ltd to a trade blacklist last week, several global companies have suspended business with the world's largest telecoms equipment maker. Citic Securities called the U.S. ban on Huawei "a warning bell" for China's chip industry, highlighting the importance of establishing independent supplies in the chip industry chain.Rapidly escalating Sino-U.S. trade tensions have also raised the stakes for Shanghai's Nasdaq-style technology board, … [Read more...] about Trump’s Huawei ban raises hopes for Chinese chip suppliers
For many Democrats desperate to beat Trump, Biden’s their man
PHILADELPHIA: The crowded 2020 presidential race features six women, three African Americans and a dozen youthful contenders. But Denise Haley is going old school, supporting white male frontrunner Joe Biden as the Democrat best positioned to beat Donald Trump."He could lead the nation and bring us back together," Haley, who is black, told AFP of the 76-year-old former vice president, reflecting what appears to be a solidifying sentiment amid voters whose support has given Biden a commanding poll lead.Haley, a 60-year-old health care professional, was in the crowd Saturday when Biden came to Philadelphia, Pennsylvania to address the biggest, most boisterous rally of his four-week-old White House campaign.Many attendees thrilled at Biden essentially sidestepping discussion of the gruelling primary battle ahead and focusing on the general election face-off with Republican Trump, whom he often attacked with explicit condemnation."Biden is Trump's biggest rival and has the highest chance … [Read more...] about For many Democrats desperate to beat Trump, Biden’s their man
China talks end without a deal, Trump says no hurry to sign
WASHINGTON/BEIJING (REUTERS) - US President Donald Trump on Friday (May 10) said he was in no hurry to sign a trade deal with China as Washington imposed a new set of tariffs on Chinese goods and negotiators ended a second day of talks to try to salvage an agreement. The United States early on Friday increased its tariffs on US$200 billion in Chinese goods to 25 per cent from 10 per cent, rattling financial markets already worried the 10-month trade war between the world's two largest economies could spiral out of control. China is expected to retaliate. The tariffs went into effect just hours before US Trade Representative Robert Lighthizer, US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He held a second day of talks in Washington. The session broke up after about 90 minutes. "They were constructive discussions. That's all I can say,"Mnuchin told reporters as he left Lighthizer's offices near midday. In a series of morning tweets, Trump defended the tariff hike and … [Read more...] about China talks end without a deal, Trump says no hurry to sign