Trump Predicts China Will Be First to Buckle in Trade Dispute

Lynette PayneApr 09, 2018

"China will take down its Trade Barriers because it is the right thing to do", Trump told his 50 million Twitter followers early Sunday.

US President Donald Trump sent a friendly message to China on Sunday as Chinese state media ramped up their rhetoric in the trade dispute with the US, recalling China's Korean war mettle and warning Washington that it was becoming the enemy of a multipolar world.

The intellectual property system is to protect innovation outcomes, ensure fair competition and promote technology transfers so that the innovation achievements could be shared by humanity, Zhang said. This week it is Mr Xi's turn to respond to Mr Trump as the Chinese president again seeks to present himself as both a responsible global statesman and a bold reformer, but also one who will not be pushed around.

Trump's latest proposal intensified what was already shaping up to be the biggest trade battle in more than a half century.

On Friday, Kudlow said that the USA and China are holding "back-channel discussions" to resolve the escalating trade dispute. They also responded with a wave of new tariffs on United States' goods, targeting approximately 50 billion dollars worth of American exports, including soy, cars, and chemicals.

'We call on the global business community including the United States industrial and commercial circles to take prompt and effective measures and urge the USA government to correct its errors, ' it said.

Still, White House adviser Peter Navarro, known as a hardliner on trade, said the threat of tariffs is not merely a bargaining chip.

Top members of Trump's economic team, speaking on Sunday morning talk shows, defended the US threats to impose tariffs on Chinese imports and framed the moves as part of a longer-term strategy for growth - while suggesting a trade war can be averted. Kudlow said tariffs have only been proposed, and are now undergoing a public preview process; no final decisions have been made. Another administration official, Treasury Secretary Steve Mnuchin, takes a different tack, saying he's "cautiously optimistic" that before any threatened tariffs go into place the two nations will reach an agreement. In a separate interview on "Fox News Sunday", Kudlow acknowledged market "jitters" but said "we're not gonna to end up in a trade war".

"We're moving forward on a measured way with tariffs, with investment restrictions", Navarro said on NBC's "Meet The Press". The Dow Jones closed 572 points down on Friday, while the tech-heavy Nasdaq was down 2.2 per cent.

The administration's threats toward China have made markets apprehensive. In turn, the Chinese Commerce Ministry imposed new import tariffs on 128 USA products.

The China trade issues should be handled in "a much more calculated way", Crowley said. Both China and the United States have threatened to levy new tariffs on each other, in an escalating trade dispute.

After the USA unveiled a list of $50 billion in potential tariffs on Chinese products, Beijing responded with plans to implement billions in penalties beans, on US soybeans, cars and other items.

Trump hit back again late Thursday, instructing trade officials to consider the additional levies on $100 billion in imports. "China's behavior, it's 20 years now, it's more than unfair trade practices".

On Friday, Kudlow said that the US and China are holding "back-channel discussions" to resolve the escalating trade dispute.

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