China announces 84% retaliatory tariffs on US goods
China has announced new tariffs of 84% on the US, in a response to US president Donald Trump’s trade war that will raise fears of further escalation.
According to Reuters, the Chinese ministry of finance has declared that taxes on US imports will increase to 84% beginning Thursday, up from 34% previously announced.
On Wednesday, Trump imposed 104% tariffs on Chinese exports to the United States. China's announcement describes Mr. Trump's tariffs as "a mistake on top of a mistake".
Stock markets fell further on China's announcement of retaliatory tariffs, Reuters reported.
The FTSE 100 is down 3.4%. The Stoxx 600 index, which monitors Europe's largest corporations, is now down 4.2%. Germany’s Dax has fallen 3.4% today, while France’s Cac 40 has dropped 3.4%.
Country will not experience load shedding, assures Energy Minister Khadka
Minister for Energy, Water Resources and irrigation Deepak Khadka has said that there would be no load shedding in the country.
Inaugurating the 78-megawatt Sanjenkhola Hydropower Project constructed in Rasuwa today, Minister Khadka argued that the people would not face the problem of power outage.
He shared that the government was committed to provide power supply round the clock in every household and industry. The Energy Minister directed the Nepal Electricity Authority to carry out activities for the development of the hydropower sector in order to prevent load shedding.
Minister Khadka expressed the belief that the NEA would take a new height in coming days as it has got accomplished engineer Hitendra Dev Shakya as its leader.
He made it clear that the government has been carrying out activities in order to export power to various countries including India and Bangladesh forwarding reservoir –based projects with priority in coming days.
He urged the private sector and donor agencies to invest in the hydropower sector with confidence as an agreement was signed to export 10,000 megawatt power to India.
Saying the NEA is capable of ending load shedding, NEA Managing Director Shakya urged not to run behind the rumor. He expressed commitment to take the NEA to a new height resolving the existing problems as the NEA has full support from the Ministry.
Charge d' Affaires of the Chinese Embassy, Wang Xin, said the progress made by Nepal in the hydropower sector is very hopeful, adding Nepal would get continued support from China in this sector.
The project, constructed at Amachhodingo Rural Municipality-5 at the investment of Rs 22 billion, is officially connected to the national transmission line from today. Sinohydro Bureau-11 of China had constructed the project.
Sudurpashim government announces Rs five million aid for fire survivors in Achham
The Sudurpaschim government has decided to provide Rs 5 million to the fire survivors in Achham.
A meeting of the Province Disaster Risk Reduction and Management Authority held at Dhangadhi today took a decision to this effect.
Chief Minister Kamal Bahadur Shah said in the initial phase, the affected families and business community will be provided monetary assistance by preparing guidelines towards that end.
The fire took place at Jayagadh Bazar of Bannigadhi Jayagadh Rural Municipality in Achham last night destroyed 10 mud houses, 15 huts, two cemented houses and a hall, according to Achham's Chief District Officer Anand Saru.
Among these structures, 11 were used for business purposes.
The explosion of a gas cylinder at an IME Center owned by local Pushpa Raj Sharma caused the fire in the evening.
It was taken under control at 1:30 am today with the help of police and locals.
The preliminary estimations of the losses amount to Rs 75.4 million.
Japanese Ambassador Toru visits religious sites in Birgunj
Japanese Ambassador to Nepal Maeda Toru visited historical religious sites in Birgunj today.
Ambassador Toru directly reached the historical and religious sites in Birgunj from Simara Airport.
He worshipped the famous Gahawamai Temple of Birgunj this morning.
The Japanese Ambassador, who arrived here with representatives of the Embassy, is scheduled to visit Ghadiarwa Pond and Ghantaghar of Birgunj.
Chief District Officer of Parsa, Ganesh Aryal, shared that Ambassador Toru arrived in Birgunj in connection with some work at the Birgunj Metropolitan City.
