China vows 'same strength' measure against US tariffs
China has vowed it will respond to a US a tariff hike in a dispute over technology policy with measures of the "same strength." The escalating dispute has fueled fears it might dampen global trade.The Commerce Ministry on Wednesday criticized the U.S. move against $50 billion of Chinese goods as a violation of global trade rules. The ministry said it would immediately file a challenge in the World Trade Organization but gave no details on how else it might respond.
Congressional aides say Trump ’s tariffs will be the hot topic of conversation at party caucus meetings this week, even as they wonder what leverage they can exert on a president who vowed to put his stamp on trade . “I don’t know there’s much you can do there,” said one senior Senate GOP aide.
But GOP senators say few expected the trade war to last as long as it has. With markets plunging on Monday and China announcing retaliation against U.S. farm exports, fears are growing that the fight could take a bite out of pocketbooks and even pose a threat to GOP senators at the ballot box next
Republican lawmakers are returning to Washington this week with their eyes focused on an escalating trade war with China that has roiled the stock market and put them on edge over the economy and this fall's midterms.
Congressional aides say Trump's tariffs will be the hot topic of conversation at party caucus meetings this week, even as they wonder what leverage they can exert on a president who vowed to put his stamp on trade.
"I don't know there's much you can do there," said one senior Senate GOP aide.
Democrats and Republicans alike believe November's elections will be about Trump's presidency.
The White House and GOP have sought to make the contests as much about the economy as possible, believing strong economic growth and the Republican tax-cut law can overcome the ever-present controversies surrounding Trump's tenure.
Trump calls Washington Post Amazon's 'chief lobbyist': Twitter
U.S. President Donald Trump continued his attacks on Amazon.com on Thursday, targeting the newspaper, owned privately by Amazon founder Jeff Bezos, as the company's "chief lobbyist" in a Twitter post.Trump, who regularly lashes out against what he perceives as critical articles in the Post and other prominent U.S. news outlets, took issue with a trade story headline on China retaliating with trade penalties against U.S. products.
Trump called Corker on Wednesday morning to dissuade the GOP senator from filing an And congressional Republicans are broadly disgusted with them, worried they will increase costs for Yet Trump ’s popularity among Republicans could limit the number of GOP senators willing to take on the
Observers, trade groups, and others have worried that Trump is starting a trade war . Markets panicked. The Dow Jones Industrial Average plunged 1,149 points Thursday and Friday, a 4.66 percent drop off Trade -surplus countries, as history shows, generally suffer more in trade wars .
Trump's trade actions are a threat to that narrative. They have already contributed to a sell-off on Wall Street, and they have raised fears that some economic gains from lower taxes could be lost to higher consumer prices triggered by tariffs.
An analysis by the right-leaning Tax Foundation said that in 2018, more than a quarter of the gains from the tax law could be lost because of the new tariffs.
Republican free-trade proponents hope they can persuade Trump to focus more on using existing enforcement mechanisms and less on tariffs that invite retaliation on U.S. goods.
Senate Majority Leader Mitch McConnell (R-Ky.) told a group of farmers in business leaders in Kentucky last week that Trump's threats were making him "nervous" and warned that even modest tariffs could become a "slippery slope" to an all-out trade war.
Exclusive: U.S. willing to talk trade with China, no session set yet - official
The United States is willing to negotiate with China on trade, but only if talks are serious, as previous attempts produced little progress, a senior U.S. official told Reuters late on Thursday as trade tensions between the two nations escalated.No formal negotiating sessions have been set, the official said. "There is ongoing communications with the Chinese on trade," said the official, who requested anonymity to discuss the Trump administration's trade strategy.
President Donald Trump ’s trade battles are already triggering economic warnings — and rising danger for Republicans just ahead of the midterm elections. “Where you have real-world effects of the trade war , you see people’s opinions sour dramatically,” said Scott Lincicome, a trade lawyer and adjunct
US President Donald Trump has shaken the foundations of global trade , slapping steep tariffs on billions of dollars' worth of goods from the EU, Canada It's what it sounds like - a trade war is when countries try to attack each other's trade with taxes and quotas. One country will raise tariffs, a type of
Sen. Ben Sasse (R-Neb.) was much more pointed.
"If he's even half-serious, this is nuts," Sasse said of the president's actions. "This is the dumbest possible way to do this."
Many other Republican lawmakers are leery about criticizing Trump, who is popular with the party's base.
Speaker Paul Ryan (R-Wis.) has kept a low profile on the issue. Early last month, however, he came out strongly against Trump's announced tariffs on steel and aluminum imports and warned of "unintended consequences."
Senate Finance Committee Chairman Orrin Hatch (R-Utah) on Friday took a relatively soft approach to Trump's proposal to slap tariffs on an additional $100 billion worth of Chinese imports. Trump had already announced tariffs on $53 billon of Chinese imports.
Hatch blamed Beijing for instigating the trade battle by demanding that the U.S. transfer technologies and intellectual property to Chinese businesses as the price for doing business in China.
GOP senator on tariff threat: Hopefully Trump is blowing off steam because ‘this is nuts’
Sen. Ben Sasse (R-Neb.) slammed President Trump's announcement Thursday that he was considering imposing $100 billion in tariffs on China amid the ongoing trade dispute between Washington and Beijing, calling it nuts and dumb."Hopefully the President is just blowing off steam again but, if he's even half-serious, this is nuts. China is guilty of many things, but the President has no actual plan to win right now," Sasse said in"Hopefully the President is just blowing off steam again but, if he's even half-serious, this is nuts. China is guilty of many things, but the President has no actual plan to win right now," Sasse said in a statement.
Trump and his top trade negotiator, Robert Lighthizer, responded by chastising China for not immediately capitulating and announced plans on "This is not a trade war . There is no war here," Kudlow said. But he also said there was no timetable for negotiations and that tariffs could actually
WASHINGTON — A trade war between the world’s two largest economies officially began on Friday morning as the Trump administration followed through with its threat to impose tariffs on billion worth of Chinese products
"It is China's responsibility to end its technology transfer regime," he said. "Until it does so, there will be a risk of a continuing cycle of retaliatory tariffs."
House Ways and Means Committee Chairman Kevin Brady (R-Texas), who also has jurisdiction on trade, has adopted a measured approach as well.
"In enforcing our trade laws, we should always take a targeted approach to address unfair practices while avoiding harm to U.S. workers and job creators," he said in a statement Wednesday.
Brady's panel will hold a hearing on April 12 to study how tariffs on steel and aluminum imports will affect the domestic economy.
Sen. Steve Daines (R-Mont.) will return Monday from a congressional delegation trip he led to China over the recess where he raised concerns with government officials over what he called the country's "unfair trade practices."
Yet, as a member of the Agriculture Committee who represents a state with millions of dollars in wheat and beef exports, Daines also urged the president to take a cautious approach.
Trump says trade war is 'already lost,' and he 'probably won't' attend White House Correspondents Dinner
The president made the comments during an interview with WABC's "Bernie and Sid in the Morning" that aired Friday morning.Mr. Trump made those comments in an interview with WABC's "Bernie and Sid in the Morning," taped Thursday. The interview took place before the president's Air Force One comments denying any knowledge of a hush money payment by his lawyer to porn actress Stormy Daniels.
Meanwhile, Trump , who surprised America's trading partners by announcing the tariffs on Friday, has dismissed the idea that his proposed 25% tariff on steel imports and 10% on aluminum would trigger a devastating trade war . In fact, when a country is losing as much money to trade as the US, trade
Trump and Pence trot out bad-cop, good-cop routine as fears rise over trade war and NATO spat. Trump ’s tough talk with allies, coming ahead of his meeting with Russian President Vladimir Putin in Trump ’s approach is still largely viewed inside the White House and among political confidants as a
"We must take actions to level the playing field while also working to avoid or mitigate retaliation that would harm Montana's farmers," he said Friday.
Farm-state Republicans are some of the biggest GOP critics of Trump's actions.
Senate Agriculture Committee Chairman Pat Roberts (R-Kan.) warned the president against playing a high-stakes game of chicken with a major importer of U.S. agricultural commodities.
He said posturing on trade is playing havoc with people's livelihoods.
"These are real people, real families. You don't use them as a playing card," Roberts told The Kansas City Star.
Sen. Chuck Grassley (R-Iowa), a member of the Agriculture and Finance Committees complained earlier this week that farmers and ranchers were taking the brunt of retaliation from China.
Sen. John Hoeven (R-N.D.), another member of the Agriculture Committee, said he has stressed to Trump and Agriculture Secretary Sonny Perdue that "changes to our trade policy need to result in better deals for the U.S., but also avoid retaliatory tariffs on our agriculture exports."
As Macron heads to U.S., 'strong relationship' with Trump under test .
<p>When France's ambassador to Washington told American officials last July that he was heading to Paris and would shortly see President Emmanuel Macron, one of them handed him a copy of the New York Times.</p>In it, he read the words "Yes, Emmanuel. It's true, I love You" written in highlighter next to an article about the French leader's good relationship with U.S. President Donald Trump.