Don’t Count on the Truce Holding in Trump’s Trade War With China

Kimberly Ann Elliott:
As widely expected, U.S. President Donald Trump and his Chinese counterpart Xi Jinping declared a truce in their trade war over dinner in Buenos Aires this past weekend. According to the White House statement after the meeting, Xi committed to increase imports of American agricultural and energy products to reduce the bilateral trade deficit and to immediately begin negotiations over China’s unfair trade policies.
In exchange, Trump agreed that he would not increase tariffs from 10 percent to 25 percent on $200 billion in Chinese exports as scheduled on Jan. 1, but that he could do so later if there is no broader agreement within 90 days. The Chinese statement was not so specific, saying only that it would import more from the U.S. and that the two countries would “work together to reach a consensus on trade issues,” with no mention of a deadline. Vagueness plus a tight U.S. deadline virtually guarantee that this is only a temporary truce.

This should all sound very familiar. Indeed, I’m tempted to say that it is déjà vu all over again, again. On three prior occasions, Trump administration officials announced similar deals to increase American exports and address trade barriers in China. In the most recent instance, at the end of May, chief economic adviser Larry Kudlow announced that the administration had reached a deal that would avoid the imposition of tariffs over China’s unfair trade practices, following an investigation under Section 301 of the 1974 Trade Act. He claimed that Chinese negotiators had agreed to reduce the trade deficit by at least $200 billion, and “just as important, they have to lower their tariff rates, they have to lower their non-tariff barriers.

Related Pictures:

Related News:

कांग्रेस महासमिति बैठकका ७ कार्यभार - 2018-12-16

जस लिने होडबाजी ! - 2018-12-15

भारतमा ३३ किलो सुन बरामद, नेपालमा अनुसन्धान ! - 2018-12-15

व्याट्री बोकेको ट्रकमा एक्कासी आगलागी - 2018-12-15

आरोप प्रत्यारोपका बीच देउवा र पौडेलको हातेमालो - 2018-12-15

Reeling From a Family Drama, Czech PM Babis Courts the Political Extremes - 2018-12-11

Tim Gosling, PRAGUE:A billionaire with a short fuse, a dim view of the democratic process and a long list of suspicious business dealings, Czech Prime Minister Andrej Babis now looks set to head further toward the populist margins ever since his son claimed to have been kidnapped on Babis’ orders.

Macron, Merkel, May: Drama, Tragedy and Farce in the EU - 2018-12-11

Judah Grunstein:Her many shortcomings notwithstanding, British Prime Minister Theresa May has a singular ability to bear humiliations with dignity.

China to launch new-generation retrievable satellite in 2019 - 2018-12-10

China: China will launch a reusable retrievable satellite next year, with its recoverable module able to be used 15 times over the next decade, according to the China Aerospace Science & Technology Corp.

ganda Went From Being a Model of Refugee Response to a Cautionary Tale - 2018-12-10

Andrew Green,WPR:The international community has long lauded Uganda for its response to the massive influx of South Sudanese refugees who have fled across the border since the start of that country’s conflict in 2013. As the number of arrivals climbed into the hundreds of thousands, Kampala maintained an open-door policy and committed increasing amounts of land for agencies to construct temporary settlements and for refugees to build permanent shelters.

Don’t Count on the Truce Holding in Trump’s Trade War With China - 2018-12-05

Kimberly Ann Elliott:As widely expected, U.S. President Donald Trump and his Chinese counterpart Xi Jinping declared a truce in their trade war over dinner in Buenos Aires this past weekend. According to the White House statement after the meeting, Xi committed to increase imports of American agricultural and energy products to reduce the bilateral trade deficit and to immediately begin negotiations over China’s unfair trade policies.

The Yellow Vests Have France’s Attention, but What Exactly Are They Saying? - 2018-12-05

Judah Grunstein, WPR, PARIS:What to make of the Yellow Vests? For a third week in a row, they continue to dominate the news.Televised scenes of pitched street battles between protesters and police on Saturday raised alarm about an “insurrectional atmosphere” unseen in France since May 1968. Reports suggested that French President Emmanuel Macron might declare a state of emergency in response.

How George H.W. Bush Set the U.N. Up for Post-Cold War Success-and Failure - 2018-12-03

Richard Gowan:George Herbert Walker Bush grasped the importance of the United Nations like no other American president before or since. The 41st occupant of the White House, who died last week, was U.S. ambassador to the U.N. in the early 1970s. Yet his main contribution to the institution came at the end of the Cold War.

‘Year of the Debacle’: How Nigeria Lost Its Way in the War Against Boko Haram - 2018-11-28

Obi Anyadike, MAIDUGURI: Nigeria—Lirfa Dashe, a lieutenant in the Nigerian army, was due to get married this month. Instead he is buried in the cemetery of Mai Malari barracks, alongside other soldiers killed in the seemingly endless conflict against the jihadist insurgency of Boko Haram.

For the EU at the U.N., Rising Influence but Bad Timing - 2018-11-28

Richard Gowan,WPR: Is the European Union becoming an effective diplomatic force in the Security Council? Advocates of a common EU foreign policy have long called on the bloc to play a greater role at the United Nations. Germany is even formally committed to the idea of an EU seat on the council. The union has gradually become more prominent in the General Assembly as well as in debates on development aid over the past two decades. But it has not had the same impact in the Security Council.

Human traffiking in Japan by making dublicate Son and Papers. - 2018-11-28

TOKYO: Kajiman Guring David shek of Pokhara who Came to Japan in four years before Tkoyo's employment, had fallen out othe Sheudow as if was named ofter the age of three years befoure his son Ice Gurung and Dipen Gurung, Japan's immigration.

Tension escalates after Russia seizes Ukraine naval ships - 2018-11-26

BBC:Russia has fired on and seized three Ukrainian naval vessels off the Crimean Peninsula in a major escalation of tensions between the two countries. Two gunboats and a tug were captured by Russian forces. A number of Ukrainian crew members were injured. Each country blames the other for the incident. On Monday Ukrainian MPs are due to vote on declaring martial law.

New Caledonia: French Pacific territory rejects independence - 2018-11-04

Voters in the French Pacific territory of New Caledonia have rejected a bid for independence. Final results showed that 56.4% chose to remain part of France while 43.6% voted to leave - a tighter result than some polls had predicted.

China urges U.S. to stop unwarranted allegations of "election meddling" - 2018-09-28

China on Thursday urged the United States to stop uttering words and deeds that are harmful to Sino-U.S. relations and the fundamental interests of the two countries' people. The request was made by Foreign Ministry spokesperson Geng Shuang at a daily news briefing, when responding to a question regarding allegations that China is "attempting to interfere in" the 2018 mid-term U.S. elections.

Cambodia’s Crooked Election and the Tragedy of Its Postwar Period - 2018-08-29

Joshua Kurlantzick:Prime Minister Hun Sen and his Cambodian People’s Party now utterly dominate Cambodia, after the CPP won control of the entire lower house of parliament in elections late last month.

The Shape of Syria to Come - 2018-08-29

After seven years of war in Syria, the endgame is here. All major frontlines have been frozen by foreign intervention, and military action now hinges on externally brokered political deals. The result could be a de facto division of the country.

10 ministers offer resignations as Australian political crisis deepens - 2018-08-22

SYDNEY:At least 10 ministers have offered their resignations as a leadership crisis in Australian politics deepened Wednesday with another challenge against Prime Minister Malcolm Turnbull appearing inevitable.

Bullet train operator holds drill involving knife attacker - 2018-08-22

SHIZUOKA:Central Japan Railway Co on Wednesday conducted its first drill involving a knife-wielding attacker on a bullet train following a deadly rampage on a shinkansen train in June.

1,400 guns, 1,200 swords from WWII era found buried at Tokyo elementary school - 2018-08-07

TOKYO:About 1,400 firearms and 1,200 swords believed to be from the period of World War II were discovered buried at an elementary school in western Tokyo, city officials said Monday. Grenades, bullets and cannonballs were also found one to two meters underneath the grounds of the Tanashi Elementary School in the city of Nishitokyo.

Two blazes form California's largest wildfire in history - 2018-08-07

By Javier Tovar CLEARLAKE OAKS, Calif Two blazes mercilessly charring northern California have grown so rapidly that they became the U.S. state's largest in recorded history Monday, authorities said.

Life on Mars: Japanese astronaut dreams after lake discovery - 2018-07-28

By Miwa Suzuki, TOKYO :Japanese astronaut Norishige Kanai came back to earth last month but is still dreaming of space, especially after the discovery of an underground lake brought mankind one step closer to unravelling the mystery of life on Mars.

The Ongoing Drama, or Farce, of Trump’s China Trade Policy - 2018-06-02

Kimberly Ann Elliott:It’s déjà vu all over again. Where’s the beef? And speak loudly, but forget the stick. Those were among the clichés that came to mind during the Trump administration’s China trade policy gyrations over the past few weeks.

Powered by: Exclusively Solution