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    Trump China Tag

    The United States has imposed sanctions against a China-linked business network financing Iran's Islamic Revolution Guard Corps (IRGC) and Quds Force, both U.S. designated terrorist entities. The network bought hundreds of millions of dollars worth of oil from National Iranian Oil Company (NIOC), a state-owned Iranian firm "which helps to finance Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and its terrorist proxies," The U.S. Treasury Department disclosed Thursday.

    President Donald Trump's administration decided to delay tariffs on big items such as laptops, smartphones, and toys made in China until December 15. From The Wall Street Journal:
    Trade talks appeared in jeopardy after the Trump administration threatened on Aug. 1 to extend tariffs of 10% to $300 billion in Chinese imports not currently taxed, including many consumer goods. They would come on top of 25% tariffs imposed on $250 billion in imports from China.

    The United States was "attacking China’s core economic interests," Chinese state media said. By making a number of "arrogant demands," Washington was "trying to invade China’s economic sovereignty and force China to damage its core interests," Chinese state news agency Xinhua said Saturday. The comments came amid U.S. demands to restrict the role played by powerful Chinese state-owned enterprises (SOEs) that dominate all sectors of the country's economy and receive favored treatment from the state.

    Tariffs suck. They do not work and will only cause harm for the manufacturer and consumer. President Donald Trump's economic adviser Larry Kudlow broke from his boss on Sunday when he agreed that tariffs would hurt both the US and China after Trump increased tariffs. To make matters worse, China imposed tariffs on $60 million worth of US goods on Monday.

    During talks with President Trump on Saturday, China reportedly agreed to label the synthetic opioid fentanyl a controlled substance. The White House is calling this move a "wonderful humanitarian gesture." The National Institute on Drug Abuse reported that "a research letter published in the Journal of the American Medical Association (JAMA) concluded that nearly half of opioid-related deaths in 2016 involved fentanyl."

    In a meeting between President Trump and China's Xi Jinping, Trump agreed to delay the increase in tariffs scheduled for January 1, 2019 while trade talks continue. The tariffs in question were set to jump from 10% to 25%, but this increase will not take place while the two countries engage in further trade talks.  The talks are currently expected to last 90 days.

    Contrary to the mainstream media reporting, President Donald Trump may be winning the trade war with China, according to a leading European think tank. The tariffs placed by the Trump administration could narrow the U.S. trade deficit with China by 17 percent, a recent paper published by Munich-based EocnPol Europe projects. "The US import tariffs will increase the prices of the affected Chinese products in the United States and decrease the profit margin of Chinese exporters," the fifteen page report says. "This might force some Chinese firms to stop exporting to the US, or even force them completely out of the market."

    A leading Chinese bank, which acted as the main conduit for payments to Iran, is halting financial transactions with the Islamic Republic, Reuters news agency reports. The state-owned Bank of Kunlun's decision was made "under pressure" of impending U.S. sanctions due to take effect early November, news reports disclose. The halting of transactions spells trouble for Iran's commercial ties to China, the country's biggest oil consumer. The Bank of Kunlun is controlled by China's state-owned energy group CNPC, a company running multi-billion dollar gas exploration projects in Iran.
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