Opinion: Trump didn't start this trade war, China did - PressFrom - US
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OpinionTrump didn't start this trade war, China did

18:00  15 may  2019
18:00  15 may  2019 Source:   foxnews.com

Trump says tariffs on $200 billion of Chinese goods will increase to 25% on Friday

Trump says tariffs on $200 billion of Chinese goods will increase to 25% on Friday In addition, Trump threatened to impose 25% tariffs on an additional $325 billion of Chinese goods "shortly." The president said that trade talks with China are continuing, but are moving too slowly as Beijing tries to re-negotiate. Trump tweet: For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars....

China apparently didn ’ t think Trump would do so. The Wall Street Journal reports that Chinese negotiators believed they had leverage because Trump “was Trump knows the United States can better withstand a trade war than China and that President Xi Jinping needs a deal more than he does .

Since January 22, 2018, China and the United States have been engaged in a trade war involving the mutual placement of tariffs. US President Donald Trump had declared in his campaign to fix China 's

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Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not necessarily represent the views of MSN or Microsoft.

Before President Trump announced that he was imposing 25 percent tariffs on hundreds of billions of dollars' worth of Chinese goods, he got encouragement from an unlikely source: Sen. Charles Schumer, D-N.Y.

The Senate Democratic leader, who has little good to say about Trump most days, tweeted, "Hang tough on China, @realDonaldTrump. Don't back down. Strength is the only way to win with China."

US-China trade war could hit American pet owners in the wallet

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Observers, trade groups, and others have worried that Trump is starting a trade war . Markets panicked. China ’s Cui can threaten selling greenbacks in response to Trump ’s tariffs as he did last week, but his government either has to dump dollars or clamp down even harder on money flows.

Beijing accused Trump of “provoking the trade war .” From the start , China violated WTO rules, knocking off American products and selling them as the real deal. A staggering 88 percent of counterfeit goods seized are from China and Hong Kong, according to Homeland Security.

That should have been a wake-up call for Beijing. When Chuck Schumer is tweeting support for Donald Trump, it's time to cut a deal.

But China didn't cut a deal – and now it is paying a price. Those who suggest Trump started this trade war with China have it backward. Beijing has been waging economic warfare on the United States for years – stealing our intellectual property, forcing our companies to transfer technology as a price of doing business in China and subsidizing state-owned enterprises to prevent U.S. businesses from competing in dozens of sectors of the Chinese economy.

TRUMP SAYS DEAL WITH CHINA WILL HAPPEN ‘WHEN THE TIME IS RIGHT,' US NEEDS TO 'MAKE UP' GROUND FIRST

The difference now is Chinese leaders are facing a president who is willing to fight back.

Trump warns China not to retaliate against tariff hike

Trump warns China not to retaliate against tariff hike U.S. President Donald Trump on Monday warned China not to retaliate against a hike in tariffs he imposed last week and said U.S. consumers would not pay for any increase in duties. There "is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today ... China should not retaliate-will only get worse!" Trump tweeted, adding that tariffs can be avoided if manufacturers shift production from China to other countries.

WASHINGTON — The United States and China hit each other with punishing tariffs on Friday as the two nations tipped into a long-feared trade war that is only expected to escalate. President Trump has said that trade wars are “easy to win.”.

The last time a trade war happened in the U.S., things didn ' t go well for the economy. Will history repeat itself as Trump puts a tariff on steel and aluminum? Essentially, a trade war is a back-and-forth dispute wherein a country imposes tariffs on certain imports in order to restrict trade , reports CNN.

China apparently didn't think Trump would do so. The Wall Street Journal reports that Chinese negotiators believed they had leverage because Trump "was worried about the future course of the U.S. economy and therefore may be more eager to do a deal."

Big mistake. The U.S. economy is strong, unemployment is at the lowest level in five decades, and wages are rising. In fact, America's biggest economic problem is that we have more job openings than unemployed people to fill them.

China's economy, by contrast, is in trouble. Last year, China reported its slowest economic growth since 1990, and the Financial Times reports that many experts "believe its official data understates the true extent of the slowdown."

While the United States has added about half a million manufacturing jobs since Trump took office, China's manufacturing sector is shedding jobs. And the Chinese population is aging rapidly as birthrates are falling, which means the workforce is becoming smaller and less productive.

Trump says in 'no rush' for China trade deal, defends tariffs

Trump says in 'no rush' for China trade deal, defends tariffs U.S. President Donald Trump said on Friday he was in "absolutely no rush" to finalize a trade agreement with China as negotiators from both countries prepared to continue talks in Washington, in a sign that discussions could go past this week. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.

China won the trade battle if there was one declared or undeclared many years ago and has been running Even Donald Trump earlier this year stated this Trump : 'We are not in a trade war with China , that Why did this start in the 70’s? Because of Deng Xiao Ping opening China to the world.

If there’s a trade war between the U.S. and China , don’ t blame Donald Trump : China started it long before he became president. Even free traders and internationalists agree China ’s predatory trade practices—which include forcing U.S. business to transfer valuable technology to Chinese firms and

Our economic strength against China's relative weakness gives Trump leverage in this standoff, and he is using it. Trump knows the United States can better withstand a trade war than China and that President Xi Jinping needs a deal more than he does.

Trump is wrong when he says tariffs are good for our economy because China is paying us "hundreds of billions of dollars" in tariff revenue – money he can use to help farmers withstand the blow of lost sales to Beijing.

China is not paying the cost of tariffs. American businesses and consumers are paying. But the fact that Trump mistakenly believes tariffs are good for the economy should be a wake-up call for Beijing. He thinks he's in a win-win situation, and that means, in this game of chicken, Trump is not going to blink.

And while China is not paying the cost of the tariffs, their impact on U.S. consumers may not be as bad as some observers predict. As my American Enterprise Institute colleague Derek Scissors points out, our low rate of inflation neutralizes much of the costs of higher prices from tariffs, which will diminish over time.

Trump claims China holding out on trade talks for Biden or other 'very weak' Dem president

Trump claims China holding out on trade talks for Biden or other 'very weak' Dem president President Trump’s comments came ahead of Chinese Vice Premier Liu He’s expected visit to Washington this week to discuss trade.

Trump didn ' t “launch” the trade war , he simply started “fighting” the trade war . Previous administrations either did nothing, or rolled over (bent over, whatever) and capitulated to any country who wanted a piece of American pie. We had some sickening belief that since we had the biggest

Hudson Institute Senior Fellow Michael Pillsbury on President Trump ’s trade dispute with China .

"If the US places 25% tariffs on all Chinese imports and no substitution for those goods and services occurs, the additional cost would be $145 billion. That's a bit over one percent of 2018 consumer spending," Scissors writes, but "the cost will certainly not that be that high, because substitution will occur. And the cost will fall over time as more producers enter to replace Chinese."

In other words, our dynamic, growing, low-inflation economy can handle a trade war with China. That does not mean China will buckle easily. State ownership is the means by which the Communist Party directs the Chinese economy. Getting China to stop subsidizing large sectors of its economy, and to cease its theft of U.S. intellectual property, will be extremely difficult.

But Trump knows he has no chance of doing so by filing complaints with the World Trade Organization. He is right to take a hardline stance.

It's much easier to question the wisdom of launching trade wars with allies such as Canada and the European Union. But we should all be able to agree that China is an economic predator against which we need to fight back.

Trump is using tariffs to force China to open its markets to free trade and competition. Every American should be standing behind the president as he does so – just like Chuck Schumer.

Trump administration will delay auto tariffs for up to six months.
The White House had to decide by Saturday whether to slap tarifffs on autos over what it calls national security concerns.

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