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WORLD NEWS Saturday 3 auguSt 2019
China threatens retaliation for Trump's planned tariff hike

By JOE McDONALD pling restrictions in May on
Associated Press sales of U.S. technology to
BEIJING (AP) — China on Chinese tech giant Huawei
Friday threatened retalia- Technologies Ltd.
tion if U.S. President Donald Trump's announcement
Trump's planned tariff hikes surprised investors after the
go ahead, while the re- White House said Beijing
newed acrimony between promised to buy more farm
the two biggest global goods. It came as their lat-
economies sent stock mar- est trade talks ended in
kets tumbling. Shanghai with no sign of
China's government ac- a deal. Officials said they
cused Trump of violating his would resume next month
June agreement with Presi- in Washington.
dent Xi Jinping to revive ne- The announcement "is likely
gotiations aimed at ending to put a comprehensive
a costly fight over Beijing's deal further out of reach,"
trade surplus and technol- said Fitch Solutions in a re-
ogy ambitions. port.
Trump rattled financial Tokyo's main stock market
markets with Thursday's index fell 2.5% by midday
surprise announcement of and Hong Kong's bench-
10% tariffs on $300 billion of mark lost 2.3%. Markets
Chinese imports, effective Chinese Vice Premier Liu He, center, poses with U.S. Trade Representative Robert Lighthizer, right, in Shanghai, Sydney and
Sept. 1. That would extend and Treasury Secretary Steven Mnuchin, for photos before holding talks at the Xijiao Conference Seoul also declined.
punitive duties to every- Center in Shanghai Wednesday, July 31, 2019. Earlier on Wall Street, the
thing the United States buys Associated Press benchmark Standard &
from China. Poor's 500 fell for a fourth
If that goes ahead, "China spect." plans violate Beijing's mar- have extended retaliatory day, losing 0.9% to 2,953.56.
will have to take necessary Washington and Beijing ket-opening commitments. measures to include slow- The Dow Jones Industrial
countermeasures to reso- are locked in a battle over Washington earlier im- ing down customs clear- Average declined 1% to
lutely defend its core inter- complaints China steals posed 25% tariffs on $250 ance for American com- 26,583.42. The Nasdaq
ests," said a foreign ministry or pressures companies billion in Chinese products. panies and putting off issu- composite ended 0.8%
spokeswoman, Hua Chuny- to hand over technology. Beijing has retaliated by ing license in insurance and lower at 8,111.12.
ing. The Trump administration raising import duties on other fields. Also Friday, China's yuan
"We don't want to fight, but worries American industrial $110 billion of U.S. goods. Beijing also is threatening fell to its lowest level this
we aren't afraid to," Hua leadership might be threat- Beijing is about to run out of to release an "unreliable year against the dollar after
said at a regular news brief- ened by Chinese plans for American imports for retali- entities" blacklist of foreign Trump's tariff threat fueled
ing. She called on Washing- government-led creation ation due to their lopsided companies that might face concerns about slowing
ton to "abandon its illusions, of global competitors in ro- trade balance. restrictions on doing busi- economic growth, coming
correct mistakes, and re- botics and other technolo- China imported U.S. goods ness with China. Plans for close to breaking the politi-
turn to consultations based gies. Europe and Japan worth about $160 billion that were announced after cally sensitive level of seven
on equality and mutual re- echo U.S. complaints those last year. But regulators Washington imposed crip- to the U.S. currency.q

Bill to end death penalty comes as Sri Lanka plans hangings

By KRISHAN FRANCIS commute the sentences of mitment last year to the
Associated Press those who are already on U.N. General Assembly to
COLOMBO, Sri Lanka (AP) death row to life imprison- maintain its 43-year mora-
— A bill to abolish the ment. The bill submitted on torium on death penalty.
death penalty has been Thursday will be taken for The EU said the planned
submitted to Sri Lanka's Par- a vote in 14 days if no one executions will send the
liament, while the president challenges it. wrong signals to the inter-
has sanctioned the hang- Speaking at a public event, national community and in-
ing of four drug convicts. Sirisena said those who op- vestors and it will monitor Sri
The bill seems to be a move pose executions in reality Lanka's commitments to in-
by Prime Minister Ranil oppose building a decent ternational conventions. Sri
Wickremesinghe to stop county. He said narcotics Lanka has lucrative market
the planned executions, are the root cause of all access to the EU through a
which are now stayed by other major crimes and he preferential trade scheme
the courts. decided to execute prison- that hinges on those com- In this Oct. 3, 2017, file photo, Sri Lankan President Maithripala
He and President Maithri- ers for the betterment of fu- mitments. Sirisena, left, and Prime Minister Ranil Wickremesinghe attend a
special session held to mark the country's seventieth anniver-
pala Sirisena formed a ture generations. After Sirisena's announce- sary of the first parliament of democracy, in Colombo, Sri Lanka.
unity government in 2015 Sirisena announced in June ment, Wickremesinghe Associated Press
but have fallen out and be- that he has signed the said his party opposes ex-
come rival power centers death warrants of four pris- ecutions because the Sri Sri Lanka has not hanged the executions.
within the government. oners convicted of drug of- Lankan government under a prisoner since 1976 even The Supreme Court has
Lawmaker Bandula Lal Ban- fenses. Sirisena has supported UN though courts routinely pass stayed the executions un-
darigoda said Friday the bill The European Union said resolutions for a morato- death sentences. Prison of- til Oct. 30 in response to
seeks to abolish the death Sirisena's move contradict- rium on death penalty in ficials hired two hangmen a petition by a death row
sentence in the future and ed the government's com- 2016 and 2018. after Sirisena sanctioned inmate.q