Trump behaves like a street-fighter in trade policy: Chinese media


The conflict with China is taking on a "cyclical" pattern with roughly two weeks of escalation followed by two weeks of relative calm, said Mark Rosenberg, chief executive at Geoquant Inc, a firm that uses computer models to gauge political risk.

The latest issue from the global edition of the ruling Communist Party's People's Daily newspaper called out Trump, stating that he was starring in his very own "street fighter-style deceitful drama of extortion and intimidation".

He said: "President Trump inherited an unfair trade regime where American workers and American companies were not treated reciprocally or fairly by the Chinese, and the efforts of the Trump administration are to right that, to correct that".

Washington says its actions are aimed at correcting the level playing field because the US suffers from a severe trade deficit in its business with China.

After months of economic tensions, United States President Donald Trump on Saturday said the trade tariff imposed on China is working 'far better than ever anticipated'.

"Tariffs will make our country much richer than it is today", Trump said in another tweet.

The United States accuses China of using predatory tactics to obtain US technology, including outright cybertheft and forcing American companies to hand over trade secrets in exchange for access to the Chinese market. Yet while the Chinese public and private sectors invest in one another based on the principles of the cyclically prosperous market socialist model, the United States is now being forced to subsidise (aka pay) its own farmers whose industry has been partly stagnated during the early stages of the trade war on China.

China's proposal to add a new round of tariffs on $60 billion worth of goods it imports from the USA - retaliation for expanding planned tariffs by the Trump administration - is only hitting one commodities sector hard: liquefied natural gas shipments.

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Despite the escalating trade row, the economy's resilience has been remarkable, said Tu Xinquan, director of the China Institute for WTO Studies at the University of International Business and Economics.

Already, the trade war has begun to take a toll: For instance, China has lost its status as the world's second-largest stock market, falling behind Japan, The Financial Times reported on Friday. One of the biggest targets of the China tariffs has been farmers; Beijing is the biggest buyer of USA soybeans, importing more than $12.4 billion worth of the oil seed in 2017, according to the Peterson Institute for International Economics. "I say, as they come, Tax them", he posted on his Twitter account.

Full lists of US products subject to different levels of additional tariffs are available on the website of the Ministry of Finance.

China is ready to levy differentiated additional tariffs on about $60 billion of imports from the United States, if the latter further escalates trade frictions, the Customs Tariff Commission of the State Council announced late on Friday.

When President Donald Trump first threatened to slap tariffs on Chinese goods in March to punish Beijing for stealing American intellectual property, trade experts warned the two nations risked slipping into a downward spiral of tit-for-tat trade actions.

Cheniere, Tellurian Inc. and other LNG developers have been courting utilities and state-backed companies in China to fund construction of more terminals to ship the super-chilled form of the gas. "China has time to fight to the end". China market has dropped 27% in the last 4 months, and they are talking to us. The People's Bank of China stepped in to support the yuan yesterday after the currency slid to the lowest in more than year. The U.S. can buy more because the economy is strong. China's Foreign Minister Wang Yi said China has contributed a huge amount to global economic growth.

Paglia said Ohio Star Forge primarily exports to countries covered by the North American Free Trade Agreement - Canada and Mexico - but could feel the indirect results of the Chinese tariffs, because some of their products are exported to China by their customers.