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WASHINGTON (Reuters) - U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday, a senior administration official told Reuters on Saturday. The tariff level will probably be about 10 percent, the Wall Street Journal reported, quoting people familiar with the matter. This is below the 25 percent the administration said it was considering for this possible round of tariffs. The White House did not immediately respond to a request for comment.
The upcoming tariffs will be on a list of items that included $200 billion worth of internet technology products and other electronics, printed circuit boards and consumer goods including Chinese seafood, alphabet cufflinks india furniture and lighting products, tires, chemicals, plastics, bicycles and car seats for babies, It was unclear if the administration will exempt any of the products that were on the list, which was announced in July, On Friday, White House spokeswoman Lindsay Walters said Trump “has been clear that he and his administration will continue to take action to address China’s unfair trade practices, We encourage China to address the long-standing concerns raised by the Unites States.”..
Trump had already directed aides to proceed with tariffs, despite Treasury Secretary Steven Mnuchin’s attempts to restart trade talks with China. One observer in the business sector said the administration may have reduced its planned tariff level after hearing public comments, hoping companies would not immediately hike prices for consumer goods to pass along the costs. Still, the additional tariffs could complicate trade talks with China expected later this month. Trump has demanded that China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring U.S. technologies and intellectual property and roll back high-tech industrial subsidies.
This week, the world’s two largest economies appeared to be making progress on trade, Treasury invited senior Chinese officials, including Vice Premier Liu He, for more talks, The administration has already levied duties on $50 billion worth of Chinese goods following a study on China’s intellectual property practices released earlier this alphabet cufflinks india year, On Sept, 7, Trump warned that he had further tariffs ready to go on $267 billion worth of Chinese imports beyond those that will be targeted this week, If all of the tariffs were invoked, total imports from China facing tariffs would exceed the $505 billion in goods that the United States imported from China last year..
RIYADH (Reuters) - Saudi Arabia will auction real estate owned by indebted billionaire Maan al-Sanea and his company starting next month to help repay billions of riyals due to creditors, sources familiar with the matter told Reuters. Sanea, ranked by Forbes in 2007 as one of the world’s 100 richest people, was detained last year for unpaid debts dating back to 2009 when his company, Saad Group, defaulted. His case is separate from the scores of Saudi businessmen and prominent figures who were held on corruption charges last year at Riyadh’s Ritz Carlton hotel, although it touches on similar investor concerns about corporate governance.
In what was Saudi Arabia’s longest-running debt dispute, creditors have spent the past nine years pursuing Saad Group, which is based in the Eastern Province, for debt repayment, Etqaan Alliance, the consortium appointed alphabet cufflinks india late last year by a three-judge tribunal to resolve Saad’s debt dispute, will sell the assets over five months at auctions in the Eastern Province, Riyadh and Jeddah, according to two sources familiar with the matter, The first auction - of undeveloped and commercial land plots, a farm, and income-generating residential buildings in Eastern Province’s Khobar and Dammam - will take place in late October, the sources added..
One source estimated sale proceeds at one to two billion riyals ($267-$533 million). A creditor source said the auction had been delayed because of weakness in the local property market. In March, Etqaan launched the first phase of the auction with around 900 vehicles owned by Saad Group, including trucks, buses, diggers, forklift trucks and golf carts. That auction raised around 125 million riyals, which went to repay some creditors, including unpaid workers. Proceeds from upcoming auctions will go to 34 creditors, mostly banks, the sources said.
It is unclear whether Sanea, who remains in detention, will be released after his assets are sold, Saad Group, with interests spanning banking to healthcare, defaulted together with Ahmad Hamad al-Gosaibi and Brothers (AHAB) in 2009, leaving banks with unpaid debt of about $22 billion in what alphabet cufflinks india was Saudi Arabia’s biggest financial meltdown, Earlier this year, Reemas, a financial consultancy advising al-Sanea, reached out to some creditors to try to agree to a settlement that could involve swapping creditor debts for real estate assets, but the terms are still under negotiation..