Published: Mon, March 26, 2018
Culture | By Henry Herrera

No more free reign to China: Donald Trump after announcing tariffs

No more free reign to China: Donald Trump after announcing tariffs

"Yesterday, we viewed the exemptions as a potential offset to the Trump administration's increasingly protectionist stance on trade because they spared countries that accounted for about 60% of USA goods exports [during the 2017 calendar year]", ClearView said.

Amid concerns that cheap Chinese steel will enter the USA from exempted countries, Navarro says those countries must agree to quotas on exports into the U.S.

"But there will be some impact due to our exports via the United States or indirect exports", Zhang told reporters on the sidelines of the China Development Forum in Beijing on Saturday.

"China doesn´t hope to be in a trade war, but is not afraid of engaging in one", the Chinese commerce ministry responded in a statement".

"We firmly oppose the unilateralism and trade protectionism of the United States", it said.

The trade tensions could send a shudder through the global economy and complicate Mr. Xi's efforts to sustain China's rapid growth in the face of rising debt and an aging population.

The dollar dipped to 104.90 yen as investors shifted into the Japanese currency, which is viewed as a "safe haven" from risk.

Beijing targeted politicially sensitive items of U.S. export, like pork, wine and apples, for imposing punishing tariffs. That depends on whether President Donald Trump will settle for a reduction in China's US trade surplus or hold out for sweeping changes to China's industrial policies. "Nevertheless, the first volley of shots and retaliatory response has been set off". That would be less than 1% of Chinese imports of US goods and far smaller than the range of imports targeted by Trump's order Thursday in the technology dispute.

No one would talk on the record about the broader concerns of US business in trading with China. Holding the world's largest foreign-exchange reserves and relatively low levels of national government debt also give Beijing room to maneuver. The White House said the tariffs on good should have little impact on consumers.

Robert Lighthizer’s fear involves America's treasure trove of corporate research being taken by China by its spies, by its state-funded corporate takeovers, and by forced mergers and technology transfers as the cost of doing business with Beijing. With almost 1.4 billion people, China is a big market for the largest U.S. businesses.

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"We will retaliate. If people want to play tough, we will play tough with them and see who will last longer", Chinese ambassador Cui Tiankai said in a video posted to the embassy's Facebook page.

Trump added that his administration is doing things for this country that should have been done for many years under previous administrations.

The official cited Beijing's "Made in China 2025" plan as "hugely problematic".

The latest proposed Chinese tariffs would add a 25 percent charge on pork and aluminum scrap, mirroring Trump's 25 percent duty on steel, according to the Commerce Ministry. "There's a long-term pattern of behavior by the Chinese government to the detriment" of US companies, the USA official said at a briefing.

The threat of steel and aluminum tariffs is back on.

Exports to China, Hong Kong and Taiwan grew 10 percent to $197 million in 2017, the San Francisco-based Wine Institute said.

"It now provides us with the breathing room to find a more permanent solution".

The United States buys little Chinese steel or aluminum, but analysts have said Beijing would feel obligated to take action to avoid looking weak. Washington reports different figures that put the gap at a record $375.2 billion. Meanwhile, The Wall Street Journal today said China is to blame, and not Trump, if there happens to be a trade war between it and the US.

Before the Trump announcement, China's ambassador to the WTO, Zhang Xiangchen, said China was considering a WTO complaint against the expected package of tariffs, but that was only one option.

At a time when USA wine exports have been slipping overall, there's been growth in exports to China, where a rapidly growing middle class is adopting many Western tastes. Effectively, those tariffs apply only to three major steel exporters-China, Russia and Japan.

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