Published: Sun, September 23, 2018
World Media | By Shelia Harmon

Another View: Trump makes it harder for China to cut a deal

Another View: Trump makes it harder for China to cut a deal

The billionaire owner of China's largest online shopping portal made the headline-grabbing promise to Donald Trump previous year, as Beijing courted the then newly elected president.

On Wednesday, Foreign Ministry spokesman Geng Shuang said he had no information on a possible trade delegation and questioned USA sincerity about wanting new talks, noting that the last round was followed immediately by the activation of new tariffs.

He considers Mnuchin's offer of talks as "a last-ditch effort to strike a compromise" before the US went ahead with this round of tariffs on $200 billion worth of Chinese goods, but Trump "pre-empted" him. We're now talking about tariffs on just about half of everything we get from China.

"After a thorough study, the USTR concluded that China is engaged in numerous unfair policies and practices relating to United States technology and intellectual property - such as forcing United States companies to transfer technology to Chinese counterparts", he said.

The US taxes will take effect from 24 September, starting at 10% and increasing to 25% from January unless the two countries agree on a deal. Target said the tariffs will "hurt American consumers", and said working families will pay more for school and college essentials like notebooks, calculators, binders and desks.

"We're effectively being penalized for bringing back that product manufacturing from the Philippines to the USA", said Chris Cowger, the Chicago-based company's chief executive.

The US relationship with China is traditionally a challenging one [VIDEO] and has escalated dramatically in the past week.

Though it supports the imposition of tariffs on specific goods, Mema said the widespread approach of applying $200 billion worth of tariffs would hurt United States companies, put jobs at risk and negatively impact consumers.

Chinese officials deny foreign companies are required to hand over technology.

China is planning to cut the average tariff rates on imports from the majority of its trading partners as soon as next month, two people familiar with the matter said, in a move that will lower costs for consumers as a trade war with the US deepens. Trump has accused China, for example, of undermining North Korea denuclearisation talks in retaliation for hitting China's exports with tariffs.

"It has to cope with the economic fallout from the expanding trade war and try to limit the damage but has to be careful not be seen as caving in to US demands", he said. And we will come back with more if they retaliate.

What is most disquieting for the Trump administration is the dissatisfaction of voters in the Midwest and the suburbs. They say that violates Beijing's market-opening commitments and might erode US industrial leadership. China responded cautiously, announcing roughly comparable tariffs on $50 billion of United States exports to China in August.

The U.S. Trade Representative's office was not immediately available for comment.

The State media said on Wednesday in a publication by the ruling Communist Party.

"The current economic situation is indeed not good, and that could go on longer than people think", said Jack Ma, the billionaire co-founder of Alibaba Group Holding Ltd (BABA.N).

But China is only a sham capitalist economy. In its negotiation with Mexico and Canada on the North American Free Trade Agreement, the Trump administration forced Mexico into submission and grant concessions to the United States, but it failed to pressure Canada into making similar concessions.

Like this: