CHINA People's Daily Tonight: Podcast News (5/17/2019 Fri.)

CHINA

People's Daily Tonight: Podcast News (5/17/2019 Fri.)

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17:11, May 17, 2019

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This is People’s Daily Tonight, your news source from China. 

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Walmart says higher China tariffs will increase prices for US shoppers

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Walmart Inc said on Thursday that prices for shoppers will rise due to higher tariffs on goods from China.

This, as the world's largest retailer reported its best comparable sales growth for the first quarter in nine years.

This also comes after Macy's made a similar warning on Wednesday.

Walmart’s CEO said tariffs on Chinese products are hitting its furniture business, and warned investors that additional levies would leave its clothing and accessory categories vulnerable.

Last week, US President Donald Trump increased tariffs on 200 billion US dollars in Chinese imports to 25 percent from 10 percent. (CGTN)

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China to start commercial 5G services on Oct 1: Industry leader

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China plans to start commercial use of 5G nationwide on October 1, making it the third country after South Korea and the United States to roll out service on the next-generation technology, a manager from Chinese telecommunications company ZTE revealed on Thursday.

By Oct 1, China Mobile, China Unicom and China Telecom will each deploy 30,000 to 50,000 of base stations in some 40 cities on the Chinese mainland, to support the commercial use of 5G.

This means more cities in China will have 5G than South Korea and the US, which had successively rolled out 5G services in a few cities in April.

The move also aims to celebrate the 70th anniversary of the founding of the People's Republic of China. (China Daily)

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F-16 military fighter jet crashes into California building

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An F-16 fighter jet returning to March Air Reserve Base in California crashed into a building after its pilot ejected.

Reports said the jet slammed into the side of a commercial building off the base at about 3:45 p.m.

Details on the crash and the pilot's condition have not been disclosed. 

Authorities did not have details on any other casualties. (Xinhua)

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US says terminating Turkey's preferential trade agreement: reports

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The US has terminated Turkey's preferential trade treatment under a program that allowed some exports to enter the United States duty-free on Thursday, Reuters reported citing a White House statement. 

But it has halved its tariffs on imports of Turkish steel to 25 percent and the decision will be effective Friday, it said.

The White House said it was appropriate to terminate Turkey's eligibility to participate in the Generalized System of Preferences (GSP) program, based on its level of economic development, Reuters reported. (CGTN)

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Trump unveils plan for immigration reform

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US President Donald Trump unveiled a plan to reform the nation's immigration system.

The White House said it’s intended to favor high-skilled immigrants and restrict family-based migration.

Trump said that his plan aims to create a "fair, modern and lawful system of immigration for the United States.”

The proposal would tighten family-based migration to focus on allowing nuclear families who migrate to the US, rather than extended family members.

About two-thirds of the 1.1 million people allowed to migrate to the nation each year are given green cards, granting permanent residency because of family ties. (Xinhua)

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Baidu forecasts quarterly revenue below estimates, shares fall

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Chinese search engine operator Baidu on Thursday reported lower-than-expected first-quarter earnings and forecast quarterly revenue below estimates, sending its shares down 8 percent in extended trading.

Revenue from its online marketing services business, a major contributor to overall sales, rose nearly 3 percent to 17.66 billion yuan ($2.57 billion), but missed estimates of $2.66 billion.

The company reported a net loss attributable to shareholders of 327 million yuan ($47.51 million) in the first quarter, compared with net income of 6.69 billion yuan a year earlier. (China Daily)

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10 dead after factory wall collapse in Shanghai

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And 10 people have died at a hospital after a factory wall accidentally collapsed in Shanghai on Thursday.

Authorities said 25 people who were trapped have been rescued.

The cause of the accident is under investigation. (Xinhua)

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And that’s People’s Daily Tonight.  Thanks for joining us.

(Produced by David Nye and Bai Yuanqi)

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