Trump will be first to blink in China stare-down

[beijingwalker]

Trump will be first to blink in China stare-down
June 26, 2019 | 9:56 pm
SAN FRANCISCO — Donald Trump will be the first to blink in his stare-down contest with China. The US president and counterpart Xi Jinping will try to restart trade talks at this week’s G20 summit. Trump may be hoping Beijing will back down, but he needs a deal more — and Xi is feeling combative.

Trump has reversed roles with China, now acting as the pursuer. The commander-in-chief lobbied Beijing to meet Xi when the world’s top-20 economies gather in Japan this Friday. And he tamped down moves that could have impeded that effort. Vice-President Mike Pence twice delayed a hard-line speech on China. Granted, the Commerce Department on Friday barred five Chinese firms involved in supercomputers from buying American products, but that kind of action would not be on Trump’s radar.

China’s hard line has thrown Tariff Man off his game. Other countries have tried to appease Trump amid tariff threats. Most recently, Mexico pledged to step up detainments of Central American migrants trying to cross into the United States to deter a plan to put levies on all Mexican imports — though it was a move agreed on weeks earlier.

Beijing initially tried that tack but has changed its tune. China recently suggested squeezing its supply of rare-earth minerals to the United States and is putting together an “unreliable entities list” of foreign companies that don’t follow market rules. This month China fined Ford Motor’s local joint venture $23.6 million for violating anti-monopoly laws.

The pushback is likely to derail Trump’s desire to cast himself as a dealmaker. Mounting US economic woes are adding to the pressure. There were twice as many farm bankruptcies in Illinois, Indiana, and Wisconsin in 2018 as there were in 2008, while dairy farmers have lost 50% of their market share in China. Engine-maker Cummins said tariffs will wipe out the gains from the 2017 tax cuts.

Time is also not on Trump’s side. With the 2020 election looming, the president has incentives to put proposed levies on another $300-billion in Chinese imports on hold. With the Federal Reserve projecting GDP growth of 2% next year, Trump may be pushed to accept a deal that doesn’t include substantive changes to China’s record on intellectual-property theft or forced technology transfers. He will spin it as a victory, but it will be a superficial one.

https://www.bworldonline.com/trump-will-be-first-to-blink-in-china-stare-down/

 

[nahtanbob]

Trump will be first to blink in China stare-down
June 26, 2019 | 9:56 pm
SAN FRANCISCO — Donald Trump will be the first to blink in his stare-down contest with China. The US president and counterpart Xi Jinping will try to restart trade talks at this week’s G20 summit. Trump may be hoping Beijing will back down, but he needs a deal more — and Xi is feeling combative.

Trump has reversed roles with China, now acting as the pursuer. The commander-in-chief lobbied Beijing to meet Xi when the world’s top-20 economies gather in Japan this Friday. And he tamped down moves that could have impeded that effort. Vice-President Mike Pence twice delayed a hard-line speech on China. Granted, the Commerce Department on Friday barred five Chinese firms involved in supercomputers from buying American products, but that kind of action would not be on Trump’s radar.

China’s hard line has thrown Tariff Man off his game. Other countries have tried to appease Trump amid tariff threats. Most recently, Mexico pledged to step up detainments of Central American migrants trying to cross into the United States to deter a plan to put levies on all Mexican imports — though it was a move agreed on weeks earlier.

Beijing initially tried that tack but has changed its tune. China recently suggested squeezing its supply of rare-earth minerals to the United States and is putting together an “unreliable entities list” of foreign companies that don’t follow market rules. This month China fined Ford Motor’s local joint venture $23.6 million for violating anti-monopoly laws.

The pushback is likely to derail Trump’s desire to cast himself as a dealmaker. Mounting US economic woes are adding to the pressure. There were twice as many farm bankruptcies in Illinois, Indiana, and Wisconsin in 2018 as there were in 2008, while dairy farmers have lost 50% of their market share in China. Engine-maker Cummins said tariffs will wipe out the gains from the 2017 tax cuts.

Time is also not on Trump’s side. With the 2020 election looming, the president has incentives to put proposed levies on another $300-billion in Chinese imports on hold. With the Federal Reserve projecting GDP growth of 2% next year, Trump may be pushed to accept a deal that doesn’t include substantive changes to China’s record on intellectual-property theft or forced technology transfers. He will spin it as a victory, but it will be a superficial one.

https://www.bworldonline.com/trump-will-be-first-to-blink-in-china-stare-down/

spin all you want ... this is the only issue Democrats agree with Trump

https://www.cnbc.com/2019/05/06/sch...ng-tough-after-china-trade-tariff-threat.html

KEY POINTS

• Senate Minority Leader Chuck Schumer tells President Donald Trump to “hang tough” after the president threatens more tariffs on Chinese goods.
• The president’s move to put more duties on Chinese products comes ahead of planned trade talks between Washington and Beijing.
• Other top Democrats, including 2020 presidential candidates, have not yet reacted to Trump’s tariff threat.

Senate Minority Leader Chuck Schumer (D-NY) acknowledges reporters as he arrives for a closed Senate Democratic policy lunch on Capitol Hill in Washington, March 26, 2019.
Brendan McDermid | Reuters
As President Donald Trump reignites a trade war with China, he has found an ally in at least one key Democrat – Senate Minority Leader Chuck Schumer.

The New York senator, who has largely cheered the president’s efforts to crack down on what officials from both major parties call Chinese trade abuses, backed Trump again on Sunday. In a tweet, he urged the president to “hang tough on China.”


“Strength is the only way to win with China,” said Schumer, who is otherwise at odds with Trump on a wide variety of policy issues.

The president plans to increase tariffs on $200 billion in Chinese goods to 25% from 10% on Friday, he tweeted Sunday. He also threatened to “shortly” put tariffs on the remaining $325 billion in Chinese products on which the U.S. has not put duties.

Trump’s tariff threat upended trade talks with Beijing just as the White House touted progress toward a final agreement to resolve U.S. grievances such as intellectual property theft and trade deficits. U.S. and Asian stock markets plunged on Monday ahead of planned trade talks this week between Washington and Beijing.

While Schumer backed Trump’s move, other top Democrats stayed quiet about Trump’s trade war escalation as of Monday morning. Spokespeople for House Speaker Nancy Pelosi and Rep. Earl Blumenauer, an Oregon Democrat and head of the House Ways and Means Committee’s trade subcommittee, did not immediately respond to requests to comment.

No major 2020 Democratic presidential candidates immediately reacted to Trump’s tariff threat, either. But China has played a role in the race to take on Trump: former Vice President Joe Biden’s recent comments downplaying the threat posed by Beijing sparked criticism from Sen. Bernie Sanders, a Vermont independent whose trade views overlap with the president’s.

Democrats who, like Trump, have criticized free trade’s effect on American workers have to tread carefully during the early days of the primary. In Iowa, which will hold the first presidential nominating contest in February, farmers have taken a beating from the trade conflict with China and have urged Trump to strike an agreement. But protectionist rhetoric plays well in key general election states such as Pennsylvania and Michigan, which have lost manufacturing jobs.

Trump has used tariffs as a negotiating tactic to force China to strike a deal. The U.S. wants to leave duties in place as an enforcement tool as part of any agreement. Beijing has pushed the Trump administration to remove tariffs.

In making his tariff threat Sunday, Trump wrote that the “Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!”

 

[Lincoln]

spin all you want ... this is the only issue Democrats agree with Trump

https://www.cnbc.com/2019/05/06/sch...ng-tough-after-china-trade-tariff-threat.html

KEY POINTS

• Senate Minority Leader Chuck Schumer tells President Donald Trump to “hang tough” after the president threatens more tariffs on Chinese goods.
• The president’s move to put more duties on Chinese products comes ahead of planned trade talks between Washington and Beijing.
• Other top Democrats, including 2020 presidential candidates, have not yet reacted to Trump’s tariff threat.

Senate Minority Leader Chuck Schumer (D-NY) acknowledges reporters as he arrives for a closed Senate Democratic policy lunch on Capitol Hill in Washington, March 26, 2019.
Brendan McDermid | Reuters
As President Donald Trump reignites a trade war with China, he has found an ally in at least one key Democrat – Senate Minority Leader Chuck Schumer.

The New York senator, who has largely cheered the president’s efforts to crack down on what officials from both major parties call Chinese trade abuses, backed Trump again on Sunday. In a tweet, he urged the president to “hang tough on China.”


“Strength is the only way to win with China,” said Schumer, who is otherwise at odds with Trump on a wide variety of policy issues.

The president plans to increase tariffs on $200 billion in Chinese goods to 25% from 10% on Friday, he tweeted Sunday. He also threatened to “shortly” put tariffs on the remaining $325 billion in Chinese products on which the U.S. has not put duties.

Trump’s tariff threat upended trade talks with Beijing just as the White House touted progress toward a final agreement to resolve U.S. grievances such as intellectual property theft and trade deficits. U.S. and Asian stock markets plunged on Monday ahead of planned trade talks this week between Washington and Beijing.

While Schumer backed Trump’s move, other top Democrats stayed quiet about Trump’s trade war escalation as of Monday morning. Spokespeople for House Speaker Nancy Pelosi and Rep. Earl Blumenauer, an Oregon Democrat and head of the House Ways and Means Committee’s trade subcommittee, did not immediately respond to requests to comment.

No major 2020 Democratic presidential candidates immediately reacted to Trump’s tariff threat, either. But China has played a role in the race to take on Trump: former Vice President Joe Biden’s recent comments downplaying the threat posed by Beijing sparked criticism from Sen. Bernie Sanders, a Vermont independent whose trade views overlap with the president’s.

Democrats who, like Trump, have criticized free trade’s effect on American workers have to tread carefully during the early days of the primary. In Iowa, which will hold the first presidential nominating contest in February, farmers have taken a beating from the trade conflict with China and have urged Trump to strike an agreement. But protectionist rhetoric plays well in key general election states such as Pennsylvania and Michigan, which have lost manufacturing jobs.

Trump has used tariffs as a negotiating tactic to force China to strike a deal. The U.S. wants to leave duties in place as an enforcement tool as part of any agreement. Beijing has pushed the Trump administration to remove tariffs.

In making his tariff threat Sunday, Trump wrote that the “Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!”

Scary /s

 

[nahtanbob]

Scary /s

It is scary because Trump does not know what he is playing with