World: Trump, China and trade: Who blinks first? - - PressFrom - US

WorldTrump, China and trade: Who blinks first?

22:20  19 may  2019
22:20  19 may  2019 Source:

Trump offers support to Canadians detained in China

Trump offers support to Canadians detained in China US President Donald Trump spoke with Canadian Prime Minister Justin Trudeau on Thursday and offered his support for Canadian citizens detained in China, the White House said. 

Many trade experts agree that China has more to lose from a prolonged trade war with the U.S. But Xi is seen by some as After trade talks between the two nations ended last Friday, Trump boosted tariffs on 0 billion in Chinese goods to 25 percent and began the process of imposing tariffs on an

President Donald Trump said a trade war with China was “lost many years ago” by his predecessors. Still, Trump and Xi each have reasons to believe the other might blink first . China ’s Communist Party has relied on the country’s decades-long economic boom to sustain one-party rule

Trump, China and trade: Who blinks first?© Getty Images Trump, China and trade: Who blinks first?

Neither President Trump nor Chinese President Xi Jinping are showing any sign they'll cave in the escalating trade dispute between the world's two most important economics, portending a standoff that could last months or even years.

Buoyed by the strong U.S. economy, Trump is feeling little pressure to strike a quick deal with Beijing and people close to the White House say he is prepared to hold out for the best possible deal.

China vows 'necessary countermeasures' against Trump tariff hike

China vows 'necessary countermeasures' against Trump tariff hike China said Friday that it regrets President Donald Trump's hike in tariffs on billions of dollars of Chinese goods, and reiterated its promise to retaliate against the United States. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); The Trump administration said it would raise tariffs on $200 billion worth of Chinese imports from 10% to 25% starting at 12:01 a.m. ET on Friday. Beijing responded just minutes after the deadline passed for the tariffs to go into effect.

So it’s just a matter of who blinks first ,” he said, as he stepped into his Honda Accord. In a briefing with reporters this month, US trade representative Robert Lighthizer suggested the status quo in trade between the US and China established since Beijing joined the WTO in 2001 was far more damaging

On Thursday morning, as Walmart delivered a stark warning that Donald Trump 's widening trade war with China would lead to higher prices for American It's going to hurt them [the Chinese ] in the long run too. So it's just a matter of who blinks first ," he said, as he stepped into his Honda Accord.

"President Trump is not planning on backing down on this issue until he gets a result that addresses the longstanding, unfair trade practices the Chinese are engaging in," said Clete Willems, a former top White House trade negotiator who recently left his post. "President Trump is going to see this one through until the end."

Many trade experts agree that China has more to lose from a prolonged trade war with the U.S. But Xi is seen by some as playing a weakened hand due to pressure from hard-liners in Beijing who do not want to accept an agreement they believe would force their country to lose face.

The two leaders plan to meet at the Group of 20 summit next month in Osaka, Japan, which current and former Trump administration officials have billed as another chance to strike a deal.

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.

The question is, who will blink first in this stare-down? A month later, when Trump instructed the Office of the US Trade Representative to consider slapping an extra 0 billion in tariffs on Chinese goods, a Foreign Ministry spokesman stated that China was “definitely unafraid of a trade war even

Chinese market moves suggest China may be the first to blink in the trade war, but strategists says there's much more to it than that. When it comes to politics, Rutledge said, U.S. President Donald Trump could be the first to bend to pressure from his political base. If tensions ease with other trade

Trump on Friday was noncommittal about the prospects for an agreement but argued he remains in a stronger position than Xi.

"We're taking action, and you see what's happening. I don't have to talk about it, but it's expensive for them, and it's going to have to be. We actually had a deal and they broke it. OK? I'm used to that. I've done it many times myself," the president said in a speech to the National Association of Realtors in Washington.

Some observers say the rising tariffs could help the two leaders broker a deal in Japan, but others say the fundamental problems in the trading relationship point to a long fight.

"It's possible neither will blink, which I think is the more probable scenario because both have significant reasons not to come to a deal," said Gordon Chang, author of "The Coming Collapse of China." He predicted "this is going to be a very long struggle."

After trade talks between the two nations ended last Friday, Trump boosted tariffs on $200 billion in Chinese goods to 25 percent and began the process of imposing tariffs on an additional $325 billion, which would hit almost all imports from China, though he has not said whether he will follow through.

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.

Trump announced the hike in import taxes, raising them from 10% to 25% on Friday, saying China backed out of its commitment to end the trade war. Talks with China continue in a very congenial manner - there is absolutely no need to rush - as Tariffs are NOW being paid to the United States by

According to the FT News, another fruitless round of China -US talks to avert a trade war wrapped up in Washington on August 23, but it iw what happened the next day that was far more consequential. Trump -Haters PETRIFIED As He Moves To DECLASSIFY The One Document They FEAR!

China responded by announcing it will raise tariffs on $60 billion in U.S. goods to as high as 25 percent beginning June 1, which could hurt farmers and small manufacturers in states like Michigan, Ohio and Wisconsin that are critical to Trump's reelection chances in 2020.

Business groups on K Street are eager to see a resolution, and there is concern the two sides have not scheduled talks.

"I don't think we have seen the two sides set the next meeting and I think that's really what we're looking for," said an industry source, who declined to be named in order to candidly share concerns with the situation. "When are the two sides going to meet again to try and forge a path forward? This is a negotiation. Both sides are going to have to get to 'yes' here."

If the trade war leads to a downward spiral for the U.S. economy, it could create an opening for a deal. But Trump's decision to delay auto tariffs for six months and lift steel and aluminum tariffs on Mexico and Canada could ease some of the pressure caused by the China spat and encourage financial markets.

U.S. unemployment has remained below 4 percent, gross-domestic has grown by more than 3 percent and one study showed consumer confidence at a 15-year high, despite the ongoing trade tensions. This has given Trump confidence the U.S. will not suffer major consequences from the fight with China.

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NEW DELHI: President Donald Trump is betting Beijing will blink first in the showdown over tariffs. Trump said Friday the US will slap duties on billion in Chinese imports, with the first wave of tariffs to cover billion of goods and take effect July 6. The president threatened to raise the total even

While speculation about these trade talks incur debate about who is the winner from these negotiations, what could be the influences of the joint statement for both sides? How do we evaluate current China -US comprehensive economic ties? And what will China ’s further reforms and economic

"There is so much turbulence out there that even with the goodwill it will not be easy," said Anabel González, a senior fellow at the Peterson Institute for International Economics and a former top World Bank trade official. "In escalating the trade war, they are also making it more difficult upon themselves to reach that agreement."

Trump's efforts to to clear the deck of other trade disputes could increase pressure on Beijing. Xi must appease multiple factions within the Chinese government, experts said, and Beijing's economy is at greater risk because of its dependence on exports.

"[Xi] has a lot to lose," said Michael Pettis, professor of finance at Peking University in Beijing.

Pettis said China must transform its economy to reduce reliance on debt, and the trade dispute with the U.S. has complicated those efforts. The longer the standoff with the U.S. drags on, the weaker Xi will appear and the more difficult it will be for him to enact his economic agenda.

"That, in my opinion, is why last week China seems to have given up its more moderate approach to become a lot angrier and tougher," said Pettis. "This is playing to domestic audiences."

Trump administration officials expressed frustration that such conditions make it difficult to negotiate with their Chinese counterparts.

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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

BEIJING — China ’s leaders have sought to project confidence in the face of President Trump ’s tariffs and trade threats. But as it becomes clear that a protracted trade war with the United States may be unavoidable, there are growing signs of unease inside the Communist political establishment.

A deputies-level meeting in February grew contentious when U.S. negotiators believed Chinese emissaries were pulling back on prior commitments to address core issues, such as intellectual property theft and forced transfers of technology. U.S. Trade Representative Robert Lighthizer entered the room and stated in an "extremely direct" way that a deal was slipping away, according to Willems.

The talks eventually got back on track and Trump later announced he would delay a self-imposed deadline to raise tariffs, citing progress in the talks. But a similar reversal on China's supposed commitment to change their laws led to the breakdown of the latest round of talks.

The dynamic has given administration officials hope a deal could eventually be reached, but Willems said it is critical for Washington to convince Beijing it is not "somehow trying to exert control over China" and allow Xi to save face-something they have thus far failed to do.

Trump has also dealt with divisions within the White House on how best to approach negotiations with China.

Some advisers, such as Treasury Secretary Steven Mnuchin, are more cognizant of how deeply entangled the two sides are economically as negotiations play out. The two countries traded roughly $660 billion in merchandise last year, and China holds more than $1 trillion in U.S. debt, further intertwining the two sides.

Another group of aides, such as trade adviser Peter Navarro and former White House chief strategist Stephen Bannon, have voiced more hawkish views of China, maintaining the country is a strategic threat that must be dealt with aggressively.

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The Trump administration began imposing tariffs on billion worth of Chinese products on Friday, setting up a trade clash between the world’s two Mr. Trump ’s threats have been met with vows from China to retaliate, a stalemate that will require one side to blink first in order to avoid a protracted fight.

Although Trump is best known as best liar in the universe but he got guts & courage to draw the line in the sand to stop China . After all it was US that allowed China to enter WTO. All economic experts have fell flat on their faces that their thought China would never be able to compete with America financials

"You get the sense the second faction is stronger," said Edward Alden, a senior fellow at the Council on Foreign Relations. "Whenever the president tweets ... it's always about all the good things that the tariffs have done for the United States."

He pointed to Trump's recent rhetoric encouraging China-based companies to relocate production to Vietnam or non-tariffed countries, as well as an executive order Trump signed this week paving the way to block foreign tech companies - such as Chinese telecommunications giant Huawei - from doing business in the U.S. if they are deemed a national security threat by the Commerce Department.

Those changes could open the door to further decoupling of the world's two largest economies, a goal of some China hawks but an outcome the business community says would be damaging to both.

"With this elongation of this period and the ratcheting up of tariffs, some of the reports you've seen on supply-chain changes, that's going to accelerate," the industry source said.

Despite those factors, Trump has cited what he says is his close personal relationship with Xi as reason for optimism a deal will ultimately get done.

The White House said a possible G-20 meeting is still being finalized, but the sit-down will test the extent of the two leaders' friendship, and Trump's deal-making abilities.

"In every negotiation you need to keep communication lines open. I think that President Trump very much tries to signal that he's keeping those lines open," González said. "So from that perspective, that is a positive thing. On the other hand, however, negotiations like this are much more than personal relations."

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