Monday, 10 December, 2018

USA begins to adapt Taiwan policy: Easton

NHA's managing director Duannah Siryon and Mr. Duan Xiaoquan sign for their respective entities yesterday NHA's managing director Duannah Siryon and Mr. Duan Xiaoquan sign for their respective entities yesterday
Gerardo Duncan | 24 March, 2018, 16:41

The commerce ministry on Friday unveiled a plan to levy additional duties on up to $3 billion of USA imports including fruit and wine, in response to US import tariffs on steel and aluminum.

That means measures that will hurt Trump politically rather than inflict more damage on the global economy. While we look forward to providing our feedback on the options the administration has outlined, we remain concerned with the administration's focus on tariffs. "They will strategically go after important industries, important companies, important trade groups so that their representatives in Washington raise hell". "Second, it is overestimating its ability to adjust worldwide trade in the market economy's private sectors, as well as its advantage in a trade war with China", the paper declared.

China's ambassador to the United States, Cui Tiankai, declined to rule out cutting purchases of U.S. Treasury debt in the dispute, telling Bloomberg Television on Friday: "We are looking at all options".

Analysts believe that not only will U.S. and Chinese businesses and consumers suffer from dampened demand and higher prices of goods, but other countries will experience collateral damage.

Critics slammed the plans as intrusive and trade-inhibiting, and industry organizations, including the US Chamber of Commerce, say they are concerned over unfair advantages for Chinese companies and trade barriers. Xi has a daunting list of domestic structural economic problems to tackle, ranging from slowing growth to property bubbles to high leverage in state-owned enterprises.

Jacob Parker, Beijing-based vice president of China operations at the U.S. "If that is gone, then when the next global financial crisis hits we could see a return to global tit-for-tat protectionism, a pattern of the 1930s that we should not wish to repeat", said Gregory Shaffer, a professor at the University of California's Irvine School of Law who has researched Chinese trade policy.

A senior U.S. official speaking on condition of anonymity said the tariff plans were also created to counter the threat of China emerging as a major technological competitor.

Xi has a plethora of tools to deploy.

USA agricultural exports to China stood at $19.6 billion previous year, with soybean shipments accounting for $12.4 billion.

In what appeared to be a parallel move to state meda consolidation, China is merging the management of civil servants under the Communist Party's personnel department, The Wall Street Journal reported Wednesday.

Even without those harder measures, stocks took a beating on Friday. Boeing dropped more than 5 percent, while Cisco Systems dropped 2.8 percent.

"The scale of the trade war would be broadened".

In all the completed cases, with one exception where a complaint was not pursued, China's response was to take some action to move towards greater access. They would be hit with a 15 percent tariff increase, mirroring the US duty hike of 15 percent on aluminum. "I think it is driven by growing antagonism toward China on every front (economic, North Korea, South China Sea, influence ops, etc.) here in the U.S. This antagonism toward China makes actions more favorable to Taiwan more attractive for U.S. policymakers".

Washington is also pressing China to reduce its staggering $375 billion trade surplus with the United States by $100 billion. Most Taiwanese oppose unifying with mainland China.

Neither China's Foreign nor Defence Ministries immediately responded to a request for comment. Trump says Beijing has forced US firms to transfer their intellectual property to China as a cost of doing business there. The trick, he said, is not to hurt US companies, workers and families.

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