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China slaps tariffs on $50 billion of U.S. goods as trade dispute escalates

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Beijing’s announcement triggered heavy selling in global financial markets, with U.S. stock futures sliding 1.5 percent and U.S. soybean futures plunging nearly 5 percent and on track for their biggest fall since July 2016. The dollar briefly extended early losses, while China’s yuan skidded in offshore trade.

Hours earlier, the U.S. government had unveiled a detailed breakdown of some 1,300 Chinese industrial, transport and medical goods that could be subject to 25 percent duties, ranging from light-emitting diodes to machine parts.

The U.S. move is aimed at forcing Beijing to address what Washington says is deeply entrenched theft of U.S. intellectual property and forced technology transfer from U.S. companies to Chinese competitors, charges Chinese officials deny.

Foreign ministry spokesman Geng Shuang said China had shown sincerity in wanting to resolve the dispute through negotiations.

“But the best opportunities for resolving the issues through dialogue and negotiations have been repeatedly missed by the U.S. side,” he told a regular briefing on Wednesday.

 American fruit for sale at a supermarket in Beijing, China, on Monday. Wu Hong / EPA

The tariff list from the office of U.S. Trade Representative Robert Lighthizer followed China’s imposition of tariffs Monday on a $3 billion list of U.S. goods including pork, apples and steel pipe in response a higher American import duties on steel and aluminum.

China ran a $375 billion goods trade surplus with the United States in 2017, a figure that Trump has demanded be cut by $100 billion.

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CEOs discuss pulling donations, additional public statements to fight voting bills

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More than 120 CEOs, business leaders, attorneys and experts came together on Saturday afternoon to discuss further action against voting legislation nationwide, call attendees told NBC News.

The group discussed numerous options for pushing back on the GOP-led efforts to restrict access to the ballot box including pulling donations, refusing to relocate business or jobs to states that pass restrictive measures, and moving events, said one of the call’s organizers, Jeffrey Sonnenfeld.

“It was incredibly concrete,” he told NBC News.

The meeting was first reported Sunday by The Wall Street Journal.

A wide variety of industries were represented on the call: financial, pharmaceutical, travel, technology, retail, and transportation. Notable attendees included Brad Karp of the law firm Paul, Weiss, Rifkind, Wharton & Garrison, LinkedIn co-founder Reid Hoffman, Mellody Hobson of Ariel Investments, Chip Bergh of Levi Strauss and Arthur Blank, Home Depot co-founder and owner of the Atlanta Falcons.

Representatives of AMC Theaters and three major airlines were also in attendance.

Major corporations’ recent foray into the election policy debate comes as Republicans across the country work to advance hundreds of restrictions, changes that voting rights advocates and civil rights groups argue would disproportionately affect voters of color. Earlier this month, several major corporations spoke out against a restrictive new law in Georgia and pending legislation in Texas, while Major League Baseball announced it would move the All-Star Game out of Atlanta in protest of the state’s law.

Republicans immediately pushed back.

Senate Minority Leader Mitch McConnell, R-Ky., said that it is “stupid” for corporations to take stances on divisive political issues, before warning corporate America to “stay out of politics.” (He softened his stance a day later, saying, “I didn’t say that very artfully yesterday. They’re certainly entitled to be involved in politics. They are. My principal complaint is they didn’t read the darn bill,” referring to Georgia’s recently enacted law.)

Texas Lt. Gov. Dan Patrick, a Republican, called the corporate response “nonsense,” and said American Airlines’ CEO should “go away” after the airline denounced a GOP-sponsored bill under consideration in the state where it is headquartered. Republican lawmakers in Texas advanced another restrictive voting bill out of the state House Thursday.

Sonnenfeld said he and other organizers invited more than 120 CEOs and hoped a dozen would join. Ninety turned out with just 48 hours’ notice — with a few calling in from Augusta, Georgia, where the Masters Tournament was underway — for the 2 p.m. ET call Saturday. Organizers left the Zoom room open after they wrapped up at 3:10 p.m., because attendees were still active in the chat.

“The overriding spirit is they don’t want politicians using wedge issues to try and solidify their hold on office, because that leads to angry communities and finger-pointing workforces and divided shareholders. It makes their job as CEOs harder to manage these constituents. They want social harmony,” Sonnenfeld told NBC News.

The Black Economic Alliance is coordinating a public statement that’s likely to be released this week, said Mike Ward, co-founder of the Civic Alliance, a nonpartisan group that encourages civic participation from businesses.

Ward said he’s helping organizers to follow up with companies on their responses and expects that a number of companies will come out in favor of federal voting legislation in the coming weeks.

House Democrats recently passed a sweeping voting rights bill, the For the People Act, which would create a federal floor of election access and regulations. Majority Leader Chuck Schumer, D-N.Y., has promised it would get a vote in the full Senate, but its chances of passage are slim because of the 60-vote threshold in chamber currently split 50-50.

Democrats are also expected to reintroduce the John Lewis Voting Rights Advancement Act, which would update and strengthen the Voting Rights Act, this year.

Sonnenfeld said the call’s strong attendance as a “statement of defiance” against Republican pushback to corporate criticism.

“We had the top brass of American Airlines, United Airlines, and Delta. If they’re going to boycott airlines, they better have their own jet,” he said.



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Boris told to rip up Brexit deal as Britain waits for EU ratification – 'Pull plug NOW!'

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BORIS JOHNSON has been told to “pull the plug” on the post-Brexit trade deal with the European Union as Brussels continues to drag its feet over ratifying the agreement.

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Furious Nicola Sturgeon lashes out at Boris over Indyref2 – 'Can't stand in the way!'

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NICOLA Sturgeon has furiously lashed out at Boris Johnson over a second Scottish independence referendum, as she argued the Prime Minister “cannot stand in the way”.

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