Monday, 20 August, 2018

Trump's trade agenda runs into reality of global geopolitics

Auto exports to the US by country for 2017 Trump Moves Ahead With Tariffs and Other Trade Sanctions Against China
Leonard Rios | 31 May, 2018, 22:21

A day after the United States announced 25 per cent tariff on Dollars 50 billion of Chinese tech goods, China on Wednesday said that it did not want a trade war and remained undeterred.

Mr. Trump has bemoaned the massive US trade deficit with China - $337 billion past year - as evidence that Beijing has been complicit in abusive trading practices.

When Trump first directed US Trade Representative Robert Lighthizer to levy tariffs on $50 billion worth of Chinese exports in March, following a months-long investigation into intellectual property theft, the move was hailed as a victory for trade hawks in the Trump administration.

Trump with Chinese President Xi Jinping past year. Amid that revelation, Trump swooped in to the rescue, on May 15, seeking to spare ZTE from its zombie state as part of the ongoing negotiations with China over trade.

China's government accused the Trump administration of hurting its credibility by acting erratically on trade and vowed Wednesday to fight back if Washington goes ahead with a threatened tariff hike.

"Mnuchin's "trade war on hold" comments look to have been repudiated this morning, and possibly his investment stance, too", said Derek Scissors, a China analyst at the American Enterprise Institute in Washington.

In addition to affecting Chinese companies that export products into the USA, the tariffs could also affect multinational OEMs that have shifted their manufacturing to China to take advantage of lower labor costs.

The announcement disrupted what appeared to be a detente in the emerging trade war between China and the United States after positive talks on narrowing the deficit, Trump's key aim in negotiations with his counterpart Xi Jinping, just days beforehand.

Russia: Lavrov says Syrian troops only should control southern border
In return, Israel will not try to stop President Assad's forces retaking the rebel-held areas that abut the Golan Heights and the...

Father of rescued Paris boy was playing Pokemon Go
An undocumented Malian migrant who saved the life of a four-year-old boy in Paris is to receive French citizenship. The video footage revealed Gassama climbing the the four floors in other 3o seconds while the crowds below cheered.

Diplomatic duels: what now for the Trump-Kim summit?
At the same time, a "pre-advance" team was travelling to Singapore to meet with North Koreans, the White House said. He has had the summits with Moon and Chinese leader Xi Jinping, as well as two meetings with Pompeo.

"From now on, we expect trading relationships to be fair and to be reciprocal", said Mr Trump in a statement released with the fact-sheet. A team of USA officials was scheduled to arrive in Beijing on Wednesday to discuss the broad outline of those talks, but if the two sides failed to reach agreement on what would be discussed, the trip - led by Commerce Secretary Wilbur Ross - could be canceled, the Wall Street Journal reported.

After Beijing promised to retaliate in kind to any duties, the president raised the ante to slap tariffs on an additional $100 billion in Chinese goods.

The exchange of tough messages has made it more unlikely that the two sides will reach a compromise on their trade disputes at scheduled talks this weekend - if they are happening at all.

China here on Wednesday urged the USA side to keep its promise on bilateral trade issues, and act in accordance with the spirit of recent joint statement. The proposed investment restrictions will be published by June 30 and take effect at a later date.

That deal was separate from the U.S. investigation into China's alleged theft of intellectual property.

Donald Trump is gearing up for a trade war with China. However, the big risk is that Beijing won't have any confidence in Ross to make a deal that Trump will accept. Ross will have less than two weeks to solve the knotty issue of trade before the tariffs get officially imposed, so there's not much room for error.

In the same statement on Tuesday, the White House said that the US will "continue to pursue litigation at the World Trade Organization" over allegations that China steals USA intellectual property.

Recommended

  • US  to impose tariffs on European Union  steel, aluminum

    US to impose tariffs on European Union steel, aluminum

    Beyond their Americana associations, those choices-if they were to be enacted-target important political leaders in the U.S. Dow Jones components Boeing (BA) and Caterpillar (CAT), heavy steel users vulnerable in a trade war, fell more than 1%.
    Trump Holds Rally In Nashville

    Trump Holds Rally In Nashville

    A recent Vanderbilt University poll showed that Trump has a 53% approval rating, with 43% disapproving of his performance. But the party is also defending 10 seats in states Trump won in 2016 - five of which Trump won by double digits.
    'Solo' sputters in takeoff with $83.3M at box office

    'Solo' sputters in takeoff with $83.3M at box office

    Solo made around $65 million in the Friday-Sunday window from global markets-including China-which is not the greatest. It's a lot to ask of Star Wars fans to maintain the same level of excitement across that many Parsecs.
  • EPL: How Jurgen Klopp convinced Fabinho to join Liverpool not Manchester United

    EPL: How Jurgen Klopp convinced Fabinho to join Liverpool not Manchester United

    It earned him a call-up to Didier Deschamps' France World Cup squad and the 24-year-old is aware he is a man in demand. He is additionally hesitating about whether or not he desires to play within the Champions League with Lyon '.
    Andrew Lincoln Leaving 'The Walking Dead' During Season 9

    Andrew Lincoln Leaving 'The Walking Dead' During Season 9

    Reedus, who has a good relationship with AMC, also has another television series on the network called 'Ride with Norman Reedus '. If the TV show is to survive, it should ignore him completely.
    Valerie Jarrett, the Obama aide targeted by Roseanne

    Valerie Jarrett, the Obama aide targeted by Roseanne

    One message she re-tweeted on Wednesday falsely accused the Hungary-born Jewish billionaire of collaborating with the Nazis. More than 18 million people on average have watched the reboot of " Roseanne " this season, according to Nielsen Co .
  • Rudy Giuliani booed by NYY fans on his birthday

    Rudy Giuliani booed by NYY fans on his birthday

    The idea of Giuliani getting an ugly reception from a crowd at his home town would have seemed unthinkable a decade ago. The Rockets would go on to lose to the Warriors, 101-92, and the Yankees would fall to the Astros, 5-1.
    Petrol prices rise for 13th straight day; nearly  Rs 86 in Mumbai

    Petrol prices rise for 13th straight day; nearly Rs 86 in Mumbai

    Whereas, Mumbai and Chennai saw the most hikes - by as much as Rs 3.59 per litre and Rs 3.62 per litre respectively. He said the decision was taken by the ministry after consultations with oil marketing companies and other experts.
    Jokanovic proud Fulham stuck to style in Wembley win

    Jokanovic proud Fulham stuck to style in Wembley win

    However, if they beat Fulham in the play-off final, the claret and blues will be in a position to spend heavily over the summer. What a talent this young man is.
  • Emilia Wickstead Responds To Royal Wedding Dress Reports

    Emilia Wickstead Responds To Royal Wedding Dress Reports

    She said, "The speech that Harry gave was so amusing , self-deprecating, filled with love, and that guy just has her back". The comment also confirmed Wickstead does not believe the Givenchy gown was a copy of her own.
    Sanctions to be dropped before new abortion law

    Sanctions to be dropped before new abortion law

    Ireland voted to repeal the eighth amendment to their constitution by a landslide Friday opening the path to legalizing abortion. New abortion legislation in Ireland could be named Savita's Law in honour of a woman who died after being refused a termination .
    Campaigners celebrate as Ireland votes to scrap abortion laws

    Campaigners celebrate as Ireland votes to scrap abortion laws

    He said the result means that "we are living in a new time and a changed culture for Ireland". Many Irish voters returned home to cast their votes, captured in the hashtag #HomeToVote .

President chides Dems for blaming his administration for kids in cages President chides Dems for blaming his administration for kids in cages During those two months a total of about 8,400 unaccompanied minors were caught on the southwest border. The law came amid concerns about border control officials and their treatment of children.

Televangelist wants followers to pony up $54 million for private jet Televangelist wants followers to pony up $54 million for private jet Jesse Duplantis Ministries has already gone through three private planes, "burning them up for the Lord Jesus Christ", he said . A USA televangelist has asked his followers to help fund his fourth private jet - because Jesus "wouldn't be riding a donkey".

Ambien Hits Back at Roseanne: "Racism Is Not a Known Side Effect" Ambien Hits Back at Roseanne: A lot of times people say frightful things all over Twitter and all over TV and nothing is ever done. "I forgive her. Gilbert called Barr's comments "abhorrent" and said she was "disappointed in her actions to say the least".

Cavaliers vs. Warriors NBA Finals Gets Its Own Cheesy 1980s Sitcom Intro Cavaliers vs. Warriors NBA Finals Gets Its Own Cheesy 1980s Sitcom Intro But remember this: They do have four great players, but the Cavaliers have the greatest player of them all. Still, this series isn't a slam dunk, and several players on each side will determine how it goes.

Pusha-T Accuses Drake Of Fathering A Child He Abandoned (Audio) And the circumstances behind it aren't clear, but it's definitely not a good look for Drake . It was first rumored that Drake impregnated porn star Sophie Brussaux back in 2017.

'Dead' Russian Journalist Appears at a News Conference in Ukraine 'Dead' Russian Journalist Appears at a News Conference in Ukraine Pro-Kremlin activists unleashed a campaign of harassment against Babchenko, forcing him to flee Russian Federation past year . Ukraine's Security Service said it had staged the murder in an attempt to foil a Russian plot to kill Babchenko.

PUBG Suing Fortnite for Battle Royale Similarities PUBG Suing Fortnite for Battle Royale Similarities The point is that there is no stopping the tide and most fans just want all these games to live together in harmony. Epic Games launched a battle royale mode for its co-op sandbox shooter " Fortnite " about six months later.

Federal Bureau of Investigation urging people to restart routers after thousands infected by 'foreign actors' Federal Bureau of Investigation  urging people to restart routers after thousands infected by 'foreign actors' The FBI is recommending any owner of small office and home office routers immediately power cycle (reboot) the devices. Users with infected routers can remove the unsafe Stage 2 and Stage 3 components of VPNFilter by rebooting the device.

WH lawyer attends DOJ briefings with lawmakers on confidential source WH lawyer attends DOJ briefings with lawmakers on confidential source The president demanded the Justice Department investigate the accusations and turn over any relevant documents to Congress. The lawmakers were briefed by Rosenstein, FBI Director Chris Wray and Director of National Intelligence Dan Coats.

Cavs beat Celtics, reach NBA Finals Cavs beat Celtics, reach NBA Finals The Golden State Warriors strike a familiar pose after wrapping up the Western Conference final in seven on Monday night. If the Cavaliers win this championship, it might be time to declare the regular season irrelevant.

Starbucks Closing Tuesday in US: What You Need to Know Starbucks Closing Tuesday in US: What You Need to Know Starbucks said the arrests never should have occurred and announced the mass closures of its stores for the afternoon of training. In the New Orleans area, 25 of the 35 Starbucks sites will close at 2:30 p.m.

National Basketball Association playoffs wrap 2018: Rockets pushes Warriors to brink of elimination National Basketball Association  playoffs wrap 2018: Rockets pushes Warriors to brink of elimination We're a confident group, and we've just got one chance". "The play was unfolding nicely, it just didn't turn out obviously". A bruised left knee kept Andre Iguodala out for the second straight game, and Kevon Looney started in his place.

Woman escapes abusive boyfriend by slipping note to dog's vet Woman escapes abusive boyfriend by slipping note to dog's vet Williams said the "visibly injured" woman was taken to a hospital to be treated for a head injury, black eye and bruised arm. Floyd pointed the firearm at her during the ride there, and threatened to kill her and her family, she said.

Brad Stevens lauds LeBron James for 'special night' Brad Stevens lauds LeBron James for 'special night' It was a 10-point game going into the fourth, and as the Celtics fought to gain traction, the Cavs kept them at arm's length. Friday he scored 20 points, his most of the postseason, on 7-of-12 shooting. "I haven't always been successful, obviously".

Florida, Mississippi and Alabama declare emergencies ahead of storm Alberto Florida, Mississippi and Alabama declare emergencies ahead of storm Alberto Because of expected deteriorating weather, the sandbag distribution points will not be open Sunday, the county said. We're all waking up to the impacts of Alberto: dreary rain, gusty wind, the reluctant change of Memorial Day plans.