Trump's No-Lose Trade War Fantasy

Ann Santiago
November 30, 2018

"What will aid [Mr Xi] is news that the USA trade deficit is at a record high and the fact that China is a major investor in USA government Treasury Bonds".

"I hope that the United States and China could move towards each other and work hard to achieve positive results in the meeting", Gao said, without giving any details.

President Donald Trump says the "very close" to a deal with China on tariffs, but he adds that "I don't know that I want to do it".

Trump, however, told the Wall Street Journal this week if a deal isn't reached, he'll move ahead on January 1 to raise tariffs already in place on $200 billion worth of Chinese goods to 25 percent from 10 percent.

The administration this summer removed hundreds of items from the list of imported goods subject to tariffs after lobbying from USA companies.

The White House on Tuesday warned Xi against trying to wait out Trump in the ongoing talks, suggesting the Chinese economy was not as resilient to a trade war as the US economy.

Trump is hopeful for a breakthrough with Xi but is ready to impose more tariffs if the upcoming talks don't yield progress, Larry Kudlow, Trump's top economic adviser, told reporters Tuesday during a briefing ahead of the Group of 20 meeting in Argentina.

But foreign firms in China complain that such promises are all too routine, and analysts doubt that Trump and Xi's talks over a working dinner will serve up much beyond a commitment to negotiate further. The United States targeted $250 billion in Chinese products, and Beijing lashed back by slapping tariffs on $110 billion worth of USA goods. We've only used a small portion of what we have to use because I have another $267 billion (in imports) to go if I want, and then I'm also able to raise interest rates.

China has retaliated with imposing tariffs on American products.

President Donald Trump is suggesting he may cancel his planned sit-down this weekend with Russian President Vladimir Putin over Russia's seizure of three Ukrainian naval ships Sunday.

The US president is one of the strongest supporters of the Saudi Crown Prince who, he says, is doing a lot of good for the US economy by letting the price of black gold fall.

At this juncture, Lam believes Trump has the advantage in their meeting because of the relative strength of the American economy as China tackles slowing growth for the first time since opening up in the late 1970s.

The visit is a big event in the development of the China-Argentina and China-Latin America relations, which will also have a great impact on global economic governance, Yang said. "I can make it 10%, and people could stand that very easily", he said in an interview earlier this week. "Extremely grateful to the Indian community for the memorable welcome in Argentina", the PM said in another tweet as hundreds of Indians gathered to greet him. All of the worrying predictions of negative effects, he claimed, "have turned out to be false... we're taking in billions of dollars".

"The only deal that would really be acceptable to me - other than obviously we have to do something on the theft of intellectual property, right - but the only deal would be China has to open up their country to competition from the United States", Trump said.

But Trump has done her no favors by mocking a hard-fought withdrawal agreement negotiated between London and Brussels, and May still has to win backing for the deal from the fractious British parliament.

Other reports by

Discuss This Article