Billion dollars house

Top White House economic advisor Larry Kudlow on Friday ridiculed China's threat of $60 billion of retaliatory tariffs as "weak" and said the world's second-largest economy was in significant "trouble." After China threatened to impose new retaliatory tariffs on a variety of American goods -- everything from beef to condoms -- the war of words between Washington and Beijing escalated yet further. Warning that China had "better take President (Donald) Trump seriously," Kudlow insisted the Asian giant "is in trouble right now -- their economy is lousy, investors are walking out, the currency is falling." "Foreign investors don't want to be in China. I noticed today that Japan's stock market is now worth more than China's -- I love that," he told journalists at the White House. Beijing's latest salvo came after the Trump administration upped the ante in its plans for additional tariffs on Chinese goods worth $200 billion, suggesting the rate could be increased to 25 percent. "I might … [Read more...] about White House slams ‘weak’ Chinese tariff threat, ‘lousy’ economy

People sit under a house damaged by landslide and floods in Ha Giang Province, Vietnam, June 26, 2018. A U.N. study suggests that nations relying on agriculture are likely to suffer as global temperatures rise, bringing more storms, floods and droughts. Photo by Reuters Poor countries could have to pay up to $168 billion more in interest over the next decade as extreme weather events brought on by climate change affect their credit ratings, a study said on Monday. Nations that rely heavily on agriculture are likely to suffer as global temperatures rise, bringing more storms, floods and droughts that can destroy crops and curb production, according to research commissioned by the United Nations. Rice plantations in Vietnam are vulnerable to rising sea levels, while Guatemala’s maize output could be hit by drought and tropical storms are a threat to the Barbados tourism industry, the paper said. Such risks push borrowing costs up as lenders charge more, one of the … [Read more...] about Poor countries face $168 billion interest bill due to climate change

China has agreed to significantly increase its purchases of U.S. goods and services, the two countries said on Saturday, but made no mention of a $200 billion target the White House had touted earlier. Beijing and Washington agreed they would keep talking about measures under which China would import more energy and agricultural commodities from the United States to close the $335 billion annual U.S. goods and services trade deficit with China. A joint statement issued at the conclusion of intensive trade talks in Washington did not indicate whether the two countries would delay or drop their tariff threats on billions of dollars worth of each country’s goods, which has sparked fears of a wider trade war and roiled financial markets. “There was a consensus on taking effective measures to substantially reduce the United States’ trade deficit in goods with China,” the joint statement said. “To meet the growing consumption needs of the Chinese people and the … [Read more...] about China agrees to import more from US, no sign of $200 billion figure

China has agreed to significantly increase its purchases of U.S. goods and services, the two countries said on Saturday, but made no mention of a $200 billion target the White House had touted earlier. Beijing and Washington agreed they would keep talking about measures under which China would import more energy and agricultural commodities from the United States to close the $335 billion annual U.S. goods and services trade deficit with China. A joint statement issued at the conclusion of intensive trade talks in Washington did not indicate whether the two countries would delay or drop their tariff threats on billions of dollars worth of each country’s goods, which has sparked fears of a wider trade war and roiled financial markets. “There was a consensus on taking effective measures to substantially reduce the United States’ trade deficit in goods with China,” the joint statement said. “To meet the growing consumption needs of the Chinese people and the … [Read more...] about China agrees to import more from U.S., no sign of $200 billion figure