China fighting ‘PEOPLE’S WAR’ against U.S. – state media on tariff hikes

May 15 08:26 2019

US President Donald Trump said he would meet Chinese President Xi Jinping next month as the trade war between the world’s two largest economies intensified, sending shivers through global markets.

“Let’s be blunt: it’s a tax on the American consumer and the American manufacturer. who’s paying about $1.4 billion a month in new tariffs”, Democratic senator Chris Coons said in an interview with MSNBC on Tuesday.

Chinese foreign ministry spokesman Geng Shuang told a news briefing in Beijing that China would “never surrender to external pressure”. This should have been done by our leaders many years ago.

During 2018, a recent study of Trump’s tariffs by economists at Princeton, Columbia, and the Federal Reserve Bank of NY noted, “the US experienced substantial increases in the prices of intermediates and final goods, dramatic changes to its supply-chain network, reductions in availability of imported varieties, and complete passthrough of the tariffs into domestic prices of imported goods”.

“We don’t see any quick end to this state of the markets until we see some resolution, constructive dialogue and something very solid in terms of deals”.

China has said that it will hit back with “necessary countermeasures”.

On Monday, he said his administration would provide about $15 billion in aid to farmers whose products were targeted by Chinese tariffs.

He added, “We are in a much better position now than any deal we could have made”. -China relationship. General Secretary Xi Jinping’s January 2017 Davos speech that China has a model for other nations to emulate and the U.S. National Security Strategy in December 2017 ̶ boldly stating that “China and Russian Federation challenge American power, influence, and interests, attempting to erode American security and prosperity” ̶ set the stage for friction in the military, cyber, technology, human resources, trade, and security domains. The Dow Jones Industrial Average lost 622.10 points or 2.4%, while the Standard & Poor’s 500 sank 2.5% in early trading.

At the same time, China has sought to support its economy as it battles a slowing economy and the trade war. They might not want to sacrifice their technological aspirations to save jobs in industries that aren’t part of their plan, Lovely said.

The two sides also reached consensus on the value of Chinese purchases of USA goods last December, but the US side deliberately raised the asking price in subsequent negotiations, said Geng, adding that China is by no means the “backtracking” side. “We’ve helped them before, and we’ll do it again if we have to and if the numbers show that out”.

“I’m not sure if you talk to him face to face he hears everything you say“, said Grassley, who has emerged as one of Trump’s chief critics on the administration’s trade approach in recent weeks.

“We have all the advantage, it’s a very small factor for us”, he said about the tariffs. He did not provide details on the plan, which follows $12 billion in similar farm aid previous year.

The Trade Deal with China continues, but too slowly, as they attempt to renegotiate.

China’s state media tried to reassure businesses and consumers the ruling Communist Party has the resources and policy tools to respond.

Talks are not a one-way street and should be based on equality he said

China fighting ‘PEOPLE’S WAR’ against U.S. – state media on tariff hikes
 
 
  Categories:
 
write a comment

0 Comments

No Comments Yet!

You can be the one to start a conversation.

Add a Comment

CAPTCHA image
*