In Trump’s trade war with China, Latin America is especially vulnerable

Lester Mason
May 16, 2019

"This is really about the Cold War-it's not so much about trade". When Chuck Schumer is tweeting support for Donald Trump, it's time to cut a deal. "Our working thesis is that we're going to be in for a period of volatility for most of the next month as we await the G20 meeting".

Senate Environment and Public Works Chairman John Barrasso (R-Wyo.) said he's hoping for a quick conclusion to the trade spat, which threatens exports of beef, coal and natural gas from his home state.

"We made the case as we have been doing for some time that the best outcome for both Canadians and Americans would be to lift those tariffs and to have free trade between our two countries who have this fantastic trading relationship in place", Freeland said.

Hoeven said there was a chance that White House officials could attempt to purchase USA farm products and then give them to poor countries.

He also said he had not decided whether to go ahead with threatened tariffs on another $325bn of Chinese imports.

Trump warned Xi on Twitter that China "will be hurt very badly" if it doesn't agree to a trade deal.

"When the time is right we will make a deal with China", Trump tweeted.

Trade war with the U.S.is denting China's economy, with forecasters predicting the country's growth will slow further if another round of tariffs are allowed to take effect.

President Trump's continued trade war with China has Republican legislators representing the nation's rural farming communities breaking ranks, given how hard China's retaliatory tariffs on agricultural goods are hitting America's heartland. The prospect of China slapping tariffs and downsizing purchase of beef, soy, corn etc U.S agri sector, but Trump is quite sanguine, maintaining "Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now", while promising a $ 15 billion subsidy to tide over their crisis.


The only other items Beijing could tax would be imports of US services. The president's weird insistence that "China" pays the tariffs reflects not just his reluctance to take responsibility for tax increases but his longstanding, sincere, and fundamentally mistaken views on worldwide trade-views that do not bode well for the outcome of his trade war.

"If the United States places 25% tariffs on all Chinese imports and no substitution for those goods and services occurs, the additional cost would be $145 billion".

USTR said it would hold a public hearing on the tariff list on June 17, with final comments due as little as seven days later. They found that costs will skyrocket if Trump follows through on his threat to extend the tariffs to other goods, including apparel, footwear and consumer electronics. We've been paying China $500bn a year for many, many years.

In his conversations with advisers, however, Mr Trump is saying that he has no intention of pulling back on his escalating trade war with China, arguing that clashing with Beijing is highly popular with his political base and will help him win re-election next year regardless of any immediate economic pain.

But Sen. Kevin Cramer (R-N.D.) said yesterday he asked representatives of an energy company he met with earlier in the day about tariffs, and that "it wasn't hitting them just yet".

Japan's Nikkei stock index fell to its lowest since mid-February, while broader Asian markets were dragged down by a selloff in Chinese shares.

The foreign ministry in Beijing said on Tuesday that it hopes the U.S. does not "underestimate China's determination and will to safeguard its interests".

The executive order signed by Trump does not refer to any country or company specifically, but the United States has urged other countries not to use Huawei's tech in their next-generation 5G networks, suspecting it could open up spying opportunities for China.

Other reports by Iphone Fresh

Discuss This Article

FOLLOW OUR NEWSPAPER