WASHINGTON: US President Donald Trump announced Sunday that the United States will raise tariffs on US$200 billion (RM829.6 billion) of Chinese goods - a blunt warning to Beijing just days before what is being billed as a last-ditch round of talks to reach a deal or resume their trade war. To press China even more to accept US demands, Trump also threatened again to impose tariffs on all Chinese imports to the US - worth $539.5 billion last year. China is now considering canceling the next round of talks scheduled to start Wednesday in Washington, The Wall Street Journal reported, citing a person briefed on the matter. “China shouldn’t negotiate with a gun pointed to its head,“ the newspaper quoted the source as saying, adding that a final decision had not been made. Trump said he is raising some tariffs because the trade talks are going “too slowly.” “For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, … [Read more...] about Trump ups pressure on China ahead of last ditch trade talks
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By Christopher Torchia The Associated Press Fri., May 3, 2019 CARACAS, Venezuela - After days of upheaval, Venezuela is sinking back into political stalemate. In the fourth month of their standoff, President Nicolás Maduro and opposition leader Juan Guaidó are unable to deliver a knock-out blow as Venezuela spirals deeper into neglect, isolation and desperation. Abrupt shifts or behind-the-scenes power plays can’t be ruled out, but there is a sense that the two camps are entrenched — too strong to be dislodged, too weak for clear-cut victory. So what’s next? The opposition and its chief patron, the United States, emerged with fewer options after Guaidó, leader of the opposition-controlled National Assembly, stood Tuesday outside a military base and urged the armed forces to overthrow Maduro. The plan collapsed. Venezuela’s military commander instead pledged loyalty to Maduro, and four people died in clashes between protesters and … [Read more...] about What’s next for Venezuela after days of tumult?
Business The U.S. Federal Reserve, leaning back against pressure from President Donald Trump to slash interest rates, is expected to leave borrowing costs unchanged on Wednesday as it maintains a 'patient' monetary policy stance amid strong economic growth. 01 May 2019 01:10PM (Updated: 01 May 2019 01:11PM) Bookmark WASHINGTON: The U.S. Federal Reserve, leaning back against pressure from President Donald Trump to slash interest rates, is expected to leave borrowing costs unchanged on Wednesday as it maintains a 'patient' monetary policy stance amid strong economic growth.Trump, who has accused the U.S. central bank of undercutting his efforts to boost economic growth, said on Twitter on Tuesday the Fed should cut its key overnight lending rate by a full percentage point and renew the quantitative easing program that saw it pump trillions of dollars into the economy in response to the 2007-2009 financial crisis and recession.Fed officials were in the middle of their latest … [Read more...] about Fed likely to ignore Trump’s call to cut interest rates
WASHINGTON -- The US central bank opened its third policy meeting of the year on Tuesday under renewed attack from President Donald Trump, who called on officials to reverse course and cut interest rates. Trump slammed the Federal Reserve for "incessantly" raising interest rates and said cutting rates by a full percentage point would make the economy surge. The Fed raised rates 4 times last year -- and has done so a total of nine times since December 2015 -- moving from zero in the aftermath of the global financial crisis to the current range of 2.25 percent to 2.5 percent. But this year the Fed has been on hold and signaled clearly that it has no intention of moving monetary policy anytime soon as it grapples with conflicting signs on the economy. Trump's call for a rate cut of a full point would reverse all of the Fed moves last year and likely undermine any credibility the central bank has with financial markets. And if Trump continues to browbeat the Fed in public comments, central … [Read more...] about News Fed opens meeting as Trump calls for deep rate cut
By Joshua Partlow The Washington Post David A. Fahrenthold Tues., April 30, 2019 HILLSDALE, N. Y.—His bosses at the Trump country club called it “side work.” On some nights, after the club’s Grille Room closed, head waiter Jose Gabriel Juarez — an undocumented immigrant from Mexico — was told to clock out. He pressed his index finger onto a scanner and typed his personal code, 436. But he didn’t go home. Instead — on orders from his bosses, Juarez said — he would stay on, sometimes past midnight. He vacuumed carpets, polished silverware and helped get the restaurant at Trump National Golf Club Westchester in Briarcliff Manor, New York, ready for breakfast the next day. All off the clock. Without being paid. Article Continued Below “It was that way with all the managers: Many of them told us, ‘Just clock out and then stay and do the side work,’ “ said Juarez, who spent a decade at … [Read more...] about At Trump golf course, undocumented employees said they were sometimes told to work extra hours without pay