|
Post by Admin on Aug 29, 2019 17:42:28 GMT
China indicated that it wouldn’t immediately retaliate against the latest U.S. tariff increase announced by President Donald Trump last week, emphasizing the need to discuss ways to deescalate the trade war between the world’s two largest economies.
President Trump, in an extensive Fox News Radio interview Thursday with Brian Kilmeade, adamantly defended his handling of the trade war with China, arguing that controversial tariffs are his “primary” tool for negotiations and that they are working.
“They’re coming to the table,” Trump said.
The president also confirmed that negotiators are working on a U.S. troop drawdown in Afghanistan, but offered assurances that the U.S. would keep a “presence” in the country. “We’re going down to 8,600 [troops] and then we’ll make a determination from there as to what happens,” he said.
|
|
|
Post by Admin on Sept 4, 2019 17:24:48 GMT
Austan Goolsbee, who is now an economics professor at the University of Chicago's Booth School of Business, told The Al Franken Podcast that President Donald Trump's demands of China are vague and his tariffs counterproductive.
Washington and Beijing are still in talks to negotiate a new trade deal. But the tariff war is escalating in the background, and evidence shows that both consumers and manufacturers are feeling the pinch in both countries. Consumers are paying the cost of the tariffs.
"We are literally putting a giant tax on American consumers, which we the American people are paying—all of those tariffs—for an amorphous thing that he says, 'I'm beating up China because they're stealing our intellectual property,'" Goolsbee, who chaired Obama's Council of Economic Advisers, said.
"But he's not giving China any way to solve this...He's not making any demands. He's just piling on tariffs. All tariffs are terrible. Tariffs on suppliers and intermediate goods, things that are used in US manufacturing, are especially terrible and we're doing tons of those.
"Steel, aluminum, so every job you think you're saving in steel you're losing multiple jobs in the steel-using industries, of which there are many more than steel-producing.
"We're not making specific demands and the punishment that we're enacting is one that is harming us just as much as it's harming them."
|
|
|
Post by Admin on Sept 8, 2019 17:33:07 GMT
In fighting the US-China trade war, China’s political elite makes a big mistake: it assumes that China has achieved “power parity” with the US. That’s according to a recent article published in the September issue of Current History. It argues that the growing economic interdependence between the world’s two largest economies has given China the “false impression” that it has reached power parity with the US; and that gives Chinese officials the confidence that they can reach a “win-win” deal with Washington. “Anchoring to that relationship, in a typical Chinese analysis, is the robust economic bond that has manifested itself in two-way trade and investment worth hundreds of billions of dollars every year,” writes Professor Xiangfeng Yang in “The Lose-Lose Trade War.” “It supposedly bound the two countries of disparate cultures and political systems together in a manner that rendered divorce impossible for this “bickering couple,” another analogy numerous Chinese officials were prone to using.” That’s a big mistake. “Interdependence” between an emerging economy, which is still relying on commodity exports and technology imports for its growth, and a mature developed country, it has long way to go before it turns into power parity.
|
|
|
Post by Admin on Jan 15, 2020 18:44:39 GMT
The agreement is intended to ease some U.S. economic sanctions on China while Beijing would step up purchases of American farm products and other goods. Trump cited beef, pork, poulty, seafood, rice and dairy products as examples.
The deal would lower tensions in a trade dispute that has slowed global growth, hurt American manufacturers and weighed on the Chinese economy.
In remarks to an audience of administration officials, lawmakers and business leaders, Trump said before the signing that the “unbelievable deal” would benefit both countries and “lead to even a more stable peace throughout the world.”
Thornier trade-related issues are expected to be taken up in future rounds of negotiations. But it’s unclear when those talks might begin, and few observers expect much progress before the U.S. presidential election in November.
“It is imperative that we develop trade and economic rules and practices that allow us both to prosper. The alternative is not acceptable for either of us,” said Trump’s chief trade representative, Robert Lighthizer.
|
|