China can't be seen as weak against `bully' Trump, says Stiglitz

China can't be seen as weak against `bully' Trump, says Stiglitz

Officials said the proposed actions were in response to the White House's previous tariffs on steel and aluminum, which took effect Friday.

In the latest in a series of aggressive moves on trade, mostly targeting China, Trump authorized new sanctions on up to $60 billion of Chinese imports to retaliate against "theft" of American intellectual property. "It's a different kind of a war but in a trade war appeasement could lead to more and more demands". "The livelihood of America's consumers, businesses, farmers, and ranchers are at risk if the administration proceeds with this plan".

U.S. President Donald Trump on Thursday signed a memorandum on the plan in a unilateral move that triggered a market sell-off. That worries Minnesota's ethanol CEOs, including Randall Doyal of the Al-Corn Clean Fuel ethanol plant in Claremont.

Trump's actions represent a "seismic shift from an era dating back to Nixon and Kissinger, where we had as a government viewed China in terms of economic engagement", White House trade adviser Peter Navarro told reporters on Thursday.

China is a part of that overseas market.

Traders are anxious that an escalating trade spat between Washington and Beijing will hurt USA businesses, especially those that do a lot of sales overseas. The official sought to directly correlate the "two million more jobs created in China" to "two million jobs lost in the U.S".

The U.S. concluded China engages in a range of violations, including policies that force American companies to transfer technology and the accessing of trade secrets through hacking, said Eissenstat. Doyal also worries that a sour export market will hurt his plant. "He can not force China to give in, however, because China knows the U.S.' demands are insatiable". "We're coming out of an expansion, we've got a lot of debt".

State pork producers are looking at a similar scenario.

China released Friday a list of potential tariffs on $3 billion worth of USA goods, from pork to fruits and wine, that it could impose in retaliation to new U.S. trade sanctions. "In the United States we don't have an economic framework that is able to respond to the particular places that will be affected by a trade war".

On China's second board in the city of Shenzhen, Guangdong Wens Foodstuff Group, one of the country's largest pig breeders, advanced 3.66 per cent to 21.54 yuan.

The embassy said China had shown "sincerity in making reasonable suggestions" and made "great efforts" to deal with the current trade imbalance with the United States.

"China's potential retaliatory moves mainly focus on farm products, providing a good chance for domestic producers to boost sales", said Zhang Gang, a strategist with Central China Securities.

"Nothing has been finalized yet", said Boerboom.

A Chinese commerce ministry official said both sides were in touch.



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