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David Chance News

31 May 2018

US Hits EU, Canada and Mexico with Steel, Aluminum Tariffs

© Leonid Eremeychuk / Adobe Stock

The United States on Thursday said it will impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union, reigniting investor fears of a global trade war as Washington's allies took steps to retaliate against U.S. goods.The move, announced by U.S. Commerce Secretary Wilbur Ross in a telephone briefing on Thursday, ended months of uncertainty about potential tariff exemptions and suggested a hardening of the Trump administration's approach to trade negotiations.It also sent a chill through financial markets…

01 Mar 2018

Trump to Set Hefty Tariffs on Steel, Aluminum Imports

© Amarinj / Adobe Stock

U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China. Trump, speaking after a meeting with U.S. steel and aluminum makers said the duties would be formally announced next week. “We’re going to build our steel industry back and our aluminum industry back," he said. News of the tariffs drove the stocks of U.S.

01 Mar 2018

Trump: U.S. Hits Steel, Aluminum Imports with Hefty Tariffs

© furuoda/Adobe Stock

U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China. Trump, speaking after a meeting with U.S. steel and aluminum makers said the duties would be formally announced next week. “We’re going to build our steel industry back and our aluminum industry back," he said. News of the tariffs drove the stocks of U.S.

24 Apr 2014

Life Rafts Not Functioning On Sunk Ferry's Sister Ship

South Korean investigators said on Friday that life rafts and escape chutes on a sister ship to a sunken ferry were not working properly. The Sewol ferry, weighing almost 7,000 tons, sank on a routine trip from the port of Incheon, near Seoul, to the southern holiday island of Jeju. Investigations are focused on human error and mechanical failure. More than 300 people, most of them students and teachers from the Danwon High School near Seoul, are dead or missing presumed dead after the April 16 disaster. The confirmed death toll on Friday was 181. Investigators seized a second ferry for checks belonging to the Chonghaejin Marine Co. (Reporting by Jack Kim; Editing by Nick Macfie and David Chance)

21 Apr 2014

Ill-fated Korean Ferry May Have Been Going too Fast

It should have been plain sailing for a South Korean ferry carrying hundreds of children and their teachers on an outing to the sub-tropical island of Jeju, an annual trip for Danwon High School. The Sewol had 476 passengers and crew on board, including 339 children and teachers. It had an experienced captain, was navigating well-known waters and had passed its annual inspections since it was bought second hand in 2012 by Chonghaejin Marine Co. Ltd. But prosecutors believe the vessel capsized after turning at too high a speed. Sixty-four people are known to have died and 238 are missing, presumed dead, mostly children. In an arrest document…

20 Apr 2014

Korean Ferry Captain's Detention Could Extend As Death Toll Mounts

South Korean prosecutors investigating a ferry disaster said on Sunday they would seek to extend the detention of the ship's captain and two other crew by 10 days as they tried to determine the cause of an accident that may claim more than 300 lives. The ferry, the Sewol, was on a 400-km (300-mile) voyage from Incheon to the southern holiday island of Jeju in calm weather when it turned, listed sharply and then began to sink early on Wednesday. The ship was being steered by the third mate, on her first passage helming through the waters, and the captain was not on the bridge at the time. Out of the 476 passengers and crew, 339 were pupils or teachers from a high school in Ansan, a commuter city outside Seoul.

20 Apr 2014

First Bodies Recoved From Sunken Ferry

South Korean divers retrieved three bodies from inside a sunken ferry overnight, officials said on Sunday, the first time they have been able to gain entry to the passenger section of the ship. What was a search-and-rescue mission has now turned into an attempt to retrieve more than 200 bodies - many of them children - from the wreck of the ferry that capsized on Wednesday on a routine trip in calm waters. "At 11:48 p.m. (1448 GMT) the joint rescue team broke a glass window and succeeded in getting inside the vessel," the South Korean government said in a statement. The discovery of the bodies brought to 36 the official death toll from what looks to beSouth Korea's deadliest maritime accident in 21 years.

19 Apr 2014

Sunken Korea Ferry Relatives Give DNA Swabs To Help Identify Dead

Some relatives of the more than 200 children missing in a sunken South Korean ferry offered DNA swabs on Saturday to help identify the dead as the rescue turned into a mission to recover the vessel and the bodies of those on board. The Sewol, carrying 476 passengers and crew, capsized on Wednesday on a journey from the port of Incheon to the southern holiday island of Jeju. Thirty-two people are known to have died. The 69-year-old captain, Lee Joon-seok, was arrested in the early hours of Saturday on charges of negligence along with two other crew members, including the third mate who was steering at the time of the capsize. Prosecutors later said the mate was steering the Sewol through the waters where it listed and capsized - for the first time in her career.

18 Apr 2014

Crewman Claims Ferry Captain "Rushed Back To Bridge"

The captain of a South Korean ferry that capsized two days ago rushed back to the bridge after it started listing severely and tried in vain to right the vessel, one of the helmsmen on the ship said on Friday. A junior officer was steering the Sewol ferry when it capsized on Wednesday, leaving 28 people officially declared dead and 268 missing, almost all of them high school students. Divers are fighting strong tides and murky waters to get to the sunken ship but hopes are fading of finding any of the missing alive. "I'm not sure where the captain was before the accident. However right after the accident, I saw him rushing back into the steering house ahead of me," said Oh Young-seok, one of the helmsmen on the ship who was off duty and resting at the time.

18 Apr 2014

Vice-Principal Of S.Korea School In Ferry Disaster Commits Suicide

The vice-principal of a South Korean high school who accompanied hundreds of pupils on a ferry that capsized has committed suicide, police said on Friday, as hopes faded of finding any of the 268 missing alive. The Sewol, carrying 475 passengers and crew, capsized on Wednesday on a journey from the port of Incheon to the southern holiday island of Jeju. Kang Min-gyu, 52, had been missing since Thursday. He appeared to have hanged himself with his belt from a tree outside a gym in the port city of Jindo where relatives of the people missing on the ship, mostly children from the school, were gathered. Police said Kang did not leave a suicide note and that they started looking for him after he was reported missing by a fellow teacher. He was rescued from the ferry after it capsized.

17 Apr 2014

3rd Officer at helm when ferry capsized - Investigator

The third officer was at the helm of a South Korean ferry when it capsized on Wednesday with 475 people on board, an investigating prosecutor told a news conference on Friday, and the captain may not even have been on the bridge at the time. "He may have been off the bridge ... and the person at the helm at the time was the third officer," the investigator said. (Reporting by David Chance; Editing by Paul Tait)

17 Apr 2014

Divers struggle in search for ferry survivors

Rescuers struggled with strong waves and murky waters on Thursday as they searched for hundreds of people, most of them teenagers from the same school, still missing after a South Korean ferry capsized on Wednesday. Coastguard, navy and private divers scoured the site of the accident, about 20 km (12 miles) off the country's southwestern coast. Earlier, rescue teams hammered on the hull of the upturned, mostly submerged vessel, hoping for a response from anyone trapped inside, but they heard nothing, local media reported. The vessel, carrying 475 passengers and crew, capsized during a journey from the port of Incheon to the holiday island of Jeju. Coastguards recovered five more bodies late on Thursday, raising the death toll to 14 people.

16 Apr 2014

UPDATE -Survivors still alive on South Korean ferry

Several people appear to have survived in an air pocket of a capsized South Korean ferry, the father of one of the school children aboard the boat told a Reuters reporter accompanying families out to the scene of the disaster on Thursday. About 290 people are still missing out of 450 passengers on the Sewol ferry, which capsized in still-mysterious circumstances off the Korean peninsula on Wednesday in what could be the country's worst maritime accident in 20 years. Many of the passengers were school children from one high school on the outskirts of Seoul. "(The child) told me in the text message, 'I am alive, there are students alive, please save us quickly," the father said.