Tuesday, 23 October, 2018

Trump says China will take down trade barriers, deal on IP - Tweet

It remains to be seen whether President Donald Trump's tariffs on steel and aluminum imports from China will set off a trade war It remains to be seen whether President Donald Trump's tariffs on steel and aluminum imports from China will set off a trade war
Adrian Cunningham | 09 April, 2018, 00:41

"In addition to soybeans, China threatened to retaliate with tariffs on American cars, chemicals and other products", The New York Times reported Thursday.

Global markets have fallen sharply as a trade dispute intensifies between China and the United States.

"There are ways to resolve this situation, especially considering the fact that with each passing day the cost of a possible full-blown trade war between the USA and China becomes more apparent", he said, adding that the consequences of such a standoff would affect business elites and political decision makers alike.

Beijing has responded with a target list of 106 items imported from the United States worth a similar amount that would be hit by the same ad valorem tariff ("China retaliates for U.S. tariffs", Reuters, April 4). China responded by saying it was ready to put import taxes on almost 40 percent of USA products sent to China.

One silver lining: American automakers that import electric vehicle batteries from China were spared from the USA tariffs. So said IL farmer Aaron Wernz, speaking to a Wall Street Journal reporter after China announced it would put a hefty 25 percent tariff on US soybeans, which Wernz grows.

"Economic data and forecasts from the IMF, OECD, World Bank and others have been revised steadily upwards over the past year, which would tend to indicate a sustained recovery of trade in 2018 following strong trade growth in 2017", Agah said. But given every single political economy decision we've made post-millennium explicitly denied the possibility of, and leveraged us to, any ultimate economic (or broader strategic) contest between the U.S. and China, it's all a bit of a dark joke to tell us to do it today. Global stock markets were unhappy with the turn of events as Wall Street dropped more than 2%, following European and Asian markets lower.

Resort island in the Philippines was closed to tourists for six months
The decision of the head of the Philippines Rodrigo Duterte received after the visit paid to the island in February of this year. It will expand flights to other tourist and provincial destinations in the Philippines, it said in a statement.

Chinese state media slammed Mr Trump's threat of more trade action against China as "ridiculous". "So, we are not really anxious about this new tariff", said Bhatia. "The risk is that the threat-for-threat process spins out of control and we end up in a position in which leadership on both sides find it hard to negotiate to a suitable outcome", he said. "Trade deficit" sounds bad, but a trade deficit makes up a large chunk of the United States current account (payments flowing out) and is offset by the USA capital account (payments flowing in). The tariffs have not yet been implemented and the White House said it is open to negotiations with China, even though Beijing has been cool to talks. The United States hasn't said when the initial set of charges on $50 billion of goods will come into force.

The complaint is valid, but a trade war would be a reckless overreaction. The U.S. semiconductor industry relies on China for about a quarter of its revenue. "Perhaps there will be some fruitful negotiations", he said.

US President Donald 's top trade adviser blamed the markets for not reacting to the "unbelievable" strength of the American leader's economic agenda.

The secretary tried to assure investors that Trump's willingness to fight for USA interests would be a "long-term positive" for American companies.

Some analysts have speculated the two countries could reach a detente before new tariffs take effect.