Trump Brings China To It’s KNEES

They have resorted to begging.

China appealed to the United States to meet it halfway to salvage a deal that could end their trade war, with its chief negotiator in Washington for two days of talks hoping to stave off U.S. tariff hikes set to be triggered on Friday.

The two sides had appeared to be converging on a deal until last weekend, when U.S. President Donald Trump announced his intention to raise tariffs with his negotiators saying that China was backtracking on earlier commitments.

“The U.S. side has given many labels recently, ‘backtracking’, ‘betraying’ etc…China sets great store on trustworthiness and keeps its promises, and this has never changed,” Commerce Ministry spokesman Gao Feng said on Thursday.

Gao told reporters in Beijing that it was normal for both sides to have disagreements during the negotiating process.

Trump told supporters at a rally in Florida on Wednesday that China “broke the deal,” and vowed not to back down on imposing new tariffs on Chinese imports unless Beijing “stops cheating our workers.”

A protracted trade war between the world’s two largest economies would damage global economic growth, and investors pulled their money out of stock markets this week amid fears of the prospective agreement unraveling.

Gao said the decision to send the delegation led by Vice Premier Liu He to Washington despite the tariff threat demonstrated China’s “utmost sincerity.”

“We hope the U.S. can meet China halfway, take care of each others’ concerns, and resolve existing problems through cooperation and consultations,” he said.

Gao urged the United States to eschew unilateral action, while warning China was fully prepared to defend its interests.

“China’s attitude has been consistent and China will not succumb to any pressure. China has made preparations to respond to all kinds of possible outcomes.” He did not elaborate.

U.S. government and private sector sources previously told Reuters that a draft trade agreement was riddled with reversals by China that undermined core U.S. demands.

In each of the seven chapters of the draft, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: Theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

The stripping of binding legal language from the draft struck directly at the highest priority of U.S. Trade Representative Robert Lighthizer – who views changes to Chinese laws as essential to verifying compliance after years of what U.S. officials have called empty reform promises.

U.S. TARIFFS

Lighthizer’s office said tariffs on $200 billion of Chinese goods would rise to 25 percent from 10 percent at 12:01 a.m. (0401 GMT) on Friday, during the discussions in Washington.

The tariffs would target chemicals, building materials, furniture and some consumer electronics among other goods.

Trump also threatened on Sunday to levy tariffs on an additional $325 billion of China’s goods, on top of the $250 billion of its products already hit by import taxes.

Since July last year, China has cumulatively imposed countertariffs of up to 25 percent on about $110 billion of U.S. products. It last levied tariffs, of 5 percent to 10 percent, on $60 billion of U.S. goods including liquefied natural gas and small aircraft in September.

Based on 2018 U.S. Census Bureau trade data, China would only have about $10 billion in U.S. imports left to levy in retaliation for any future U.S. tariffs, including crude oil and large aircraft.

Gao did not answer directly when asked if China would consider imposing tariffs on imported U.S services.

While the United States wants to reduce the scale of its trade deficit with China, it is also seeking stronger protection for American intellectual property and more market access in China for U.S. companies.

Gao described accusations about Chinese firms stealing tech secrets as unreasonable and said they were not based on facts.

STRONG MENTALITY

Chinese state media on Thursday published and aired reports quoting U.S.-based organizations and individuals critical of Trump’s decision to raise tariffs, though playing down the impact of higher U.S. tariffs on the Chinese economy.

“China is well-prepared for an escalation in trade tensions. A variety of plans are in place, such as countermeasures for any tariff rise, and favorable policies to minimize losses for Chinese enterprises,” the Global Times, a tabloid published by the ruling Communist Party’s People’s Daily, said in an editorial.

“Mentally and materially, China is much better prepared than its U.S. counterpart.”

The country’s share markets have taken a battering due to the renewed trade tensions, however.

China’s blue-chip CSI300 index has slumped about 7 percent so far in May while in the United States, the benchmark S&P 500 index has only declined about 2 percent.

The Chinese yuan has also weakened to a four-month low, crossing the 6.80 per dollar level.

ECONOMIC IMPACT

While China’s overall economic growth has remained steady so far this year, the outlook for exporters has been challenging.

Exports unexpectedly declined in April, with some analysts attributing the drop to slumping shipments to the United States.

U.S.-bound shipments fell more than 13 percent last month, according to official data released this week.

But imports from the United States declined by even more – almost 26 percent, widening China’s trade surplus with the United States.

The U.S. Commerce Department said on Thursday the politically sensitive goods trade deficit with China fell 16.2 percent to $20.7 billion, the lowest level since March 2014, also as imports from the world’s No. 2 economy fell 6.1 percent. Exports to China jumped 23.6 percent in March.

“For months, U.S. companies and agricultural producers and their respective trade associations have desperately urged the two sides to come to some kind of trade agreement that would prevent the further use of tariffs by both countries, fearing such a scenario would cripple their already-damaged bilateral trading relationship,” said Nelson Dong, senior partner at international law firm Dorsey & Whitney.

“However, those urgent pleas seem to have been ignored. Once again, the two countries, and indeed, the entire world’s economy will be forced into a crisis mode that will likely inflict enormous losses on many individual companies and many thousands of workers and farmers in both countries.”

Src: The Federalist Papers

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25 Comments

  • Randy131
    Posted May 9, 2019 7:34 pm 0Likes

    The problem for China is that any of their imports that Americans depend on will start to be made here in the USA by US manufacturers, and the longer the “trade war” goes on the more stablished these new American factories will become, and when the “trade war” is over, the US will have filled that trade market with our own products, and it will be very hard for the Chinese to reestablish those markets, as it will also cause many millions of new jobs that will replace the jobs lost in our exported products to China.

    • Howard
      Posted May 9, 2019 8:15 pm 0Likes

      I agree and the old “Made in the USA” slogan will be back for good.

      • Dennis B Anderson
        Posted May 10, 2019 1:36 am 0Likes

        You might think about the meaning knock offs? Their advertising leads an unsuspecting customer to think they are looking at a USA designed logo. One would relate this to the product they take home and falls apart. I don`t buy Chinese it`s time to put our people back to work. I seen a cheese slicer at WalMart. It was a pot metal slingshot with one wire going across the top? Seriously stop trade altogether. They should be ashamed of themselves to call it trade.

        • John
          Posted May 13, 2019 2:12 am 0Likes

          Walmart means made in china

    • William M
      Posted May 9, 2019 10:22 pm 0Likes

      The chinese are no friends of the USA, never were, and never will be, period! The sooner those her realize this the better. These thieving back stabbing subhuman lying bastards have stolen millions of our jobs, our technology and a whole lot more. Time to put these disgusting enemies of the USA and world freedom in their place and deal with them like we should have been dealing with all communists, with an iron fist

      • ara
        Posted May 10, 2019 2:22 am 0Likes

        IDIOT, as if north american culture hasn’t profited of stolen culture, stolen by the same bad empre you represent… most likely you don’t even know how you had some things thanks to how exploiting you been or supported in places home to people you would disrespect because their main language isn’t the same as yours. but you’re more judgemental automatically, maybe you should check yourself of what the country you live in teaches you, all what it does it make you look like trash and shitty!!

        • Michael
          Posted May 10, 2019 10:45 pm 0Likes

          How about a coherent sentence?

  • Wendell Fountain
    Posted May 9, 2019 7:42 pm 0Likes

    The Chinese are duplicitous liars who should not be trusted. They need us more than we need them. We need to start manufacturing our own things, and then let’s see how well China does economically.

  • K. O. Fuses
    Posted May 9, 2019 7:55 pm 0Likes

    I agree with both of them 110%

  • Virgil Teffeteller
    Posted May 9, 2019 8:26 pm 0Likes

    It may hurt for a while,but Trump needs to do what it takes to get us a fair deal.The United States has let China get away with this every sense China became a major economic power.

  • Peter
    Posted May 9, 2019 8:29 pm 0Likes

    Chinese products have always been cheap but very inferior. How do you say garbage

    • ara
      Posted May 10, 2019 2:35 am 0Likes

      YOU ARE TRASH 1ST, AT LEAST CHINESE HAVE MORE HUMANITY AND SINCERITY WITH THEIR DIRECT PEERS THAN THE CAPITALIST COUNTRY YOU REPRESENT WHERE IT HAS BEEN TOTALLY ACCEPTABLE EVEN ENCOURANGED TO BE FAKE WITH DIRECT PEERS. NO WONDER YOU GOT PERSONAL INSECURITY, YOU’RE FAKENESS WON’T SERVE YOU WELL BECAUSE YOU CAN’T REST ON IT ANYMORE HAHAA B-P

  • Peter
    Posted May 9, 2019 8:31 pm 0Likes

    Chinese products are very inferior and not worth the cheap price you pay

  • ANI4ANI
    Posted May 9, 2019 8:52 pm 0Likes

    The headline 4 this article is misleading, China has NOT been brought 2 its knees.
    This is not news, only supposition. Try again when the trade war is over.

    • ara
      Posted May 10, 2019 2:42 am 0Likes

      SOMEONE HAS PAID ACTUAL ACCURATE ATTENTION B-p

  • Chuck
    Posted May 9, 2019 9:32 pm 0Likes

    I definitely agree & fully
    support all the above
    comments! The bottom line
    was just stated and is the
    bullwark for US, “The Chinese
    need our markets a hell of a
    lot MORE than we need their
    Market!””🤩🤩

  • Bev
    Posted May 9, 2019 10:12 pm 0Likes

    China was built up by the US taxpayers by overcharging us on tariffs and currency manipulation as well as theft. We basically made China what it is today by screwing over US made products and buying cheap Chinese products that don’t have the longevity of good American made products. I would rather pay a few extra dollars to buy American. Let the Chinese keep their cheap crap. They need us wayyyyyyy more than we need them. Let them tank!!!!

  • Bill M
    Posted May 9, 2019 10:23 pm 0Likes

    The chinese are no friends of the USA, never were, and never will be, period! The sooner those her realize this the better. These thieving back stabbing subhuman lying bastards have stolen millions of our jobs, our technology and a whole lot more. Time to put these disgusting enemies of the USA and world freedom in their place and deal with them like we should have been dealing with all communists, with an iron fist

  • randy F
    Posted May 9, 2019 10:47 pm 0Likes

    Gao said the decision to send the delegation led by Vice Premier Liu He to Washington despite the tariff threat demonstrated China’s “utmost sincerity.”
    No, it shows china knows it cannot dup President Trump they way did all those that have gone before him. And they way they would dupe biden or any other “democrat” were they to be elected.
    “We hope the U.S. can meet China halfway, take care of each others’ concerns, and resolve existing problems through cooperation and consultations,” he said.
    We can talk about meeting china halfway once they reverse what they have done which is: China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: Theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.
    China is not going to get away with changing the rules after the game is underway they way they have in the past!!!!! Don’t like it, GO POUND SAND CHINA!!!!!

  • SUSAN D
    Posted May 10, 2019 7:21 am 0Likes

    How Sweet IT IS..!!!
    WE!,-FINALLY HAVE a PRESIDENT, WHO IS STRONG, DARES to STAND Up to China, WHO “UNDERSTANDS” BUSINESS !!- AND Does NOT GIVE AWAY OUR COUNTRY… as the previous DemocRATic Administrations HAVE in the past 15 – 20 years!!!

  • NavVet67
    Posted May 10, 2019 1:20 pm 0Likes

    The only item that is missing is talk on drugs. China is heavily involved in the drug market…one way or the other. This has got to be included in any negotiations.

  • STEVE FLOWERS
    Posted May 10, 2019 3:02 pm 0Likes

    PRESIDENT TRUMP IS CORRECT BY INCREASING THE TARIFFS ON CHINESE GOODS. THE CHINESE HAVE STOLEN EVERY INVENTION BY AMERICANS. THIS ALL STARTED IN THE LATE 70’S INTO THE 80’S. I USE TO WORK MANY TRADE SHOWS, THE CHINESE WOULD COME TO THE SHOWS,, WITH CAMERAS, TAKING PICTURES OF AMERICAN PRODUCTS ON DISPLAY, AMERICAN VENDORS BELIEVED THAT THE CHINESE WOULD DO BUSINESS WITH THEM, IT NEVER HAPPENED, THEY WERE THERE TO MAKE SIMILAR PRODUCTS ELIMINATING OUR MANUFACTURERS. THE MANAGEMENT STARTED TO DISPLAY SIGNS AT ALL TRADE SHOWS, ‘PHOTOGRAPHY NOT ALLOWED!’ IT CAME TO LATE, THE CHINESE ARE NOT DUMB, THEY HAD THEIR PHOTOS, YOU THEN SAW MANUFACTURES STARTING TO CLOSE IN AMERICA. AMERICAN VOTERS SHOULD REJOICE THAT WE HAVE A PRESIDENT WHO TRULY CADRES ABOUT ITS PEOPLE AND AMERICA!

  • Dennis
    Posted May 10, 2019 3:53 pm 0Likes

    Stay the course China is a Communist country and can not be trusted.

  • Michael A. Gilliam
    Posted May 11, 2019 3:26 pm 0Likes

    I used to love buying things and seeing the “Made in The USA” sticker. For the last 20 years or so I’ve pretty much given up even looking since I am usually disappointed. To find even American flags with “made in China” tags still turns my stomach. I am PROUD to be an American and I look forward to finding “Made in The USA” once more on most of what I buy.

  • Pedro Colussi
    Posted May 23, 2019 9:52 pm 0Likes

    I experienced the poor quality of all products made in china lately , they don’t last as long as the MADE IN USA of long ago .

    Mr President help our USA manufactures start building here again , that is washers , driers , furnaces , air conditioners , furniture , stoves , refrigerators , etc , etc ; lets MAKE AMERICA GREAT AGAIN

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