USA stocks keep climbing as trade war fears recede
Apr 06 2018 by Lorena Waters
Exports form a major part of CHINA's ECONOMY and as the USA buys so much from the CHINESE it is but natural that Washington can buy many more ways from the CHINESE economy.
He added in another tweet, "When you're already $500 Billion DOWN, you can't lose!"
Instead, NAM called on the Trump administration to pursue a "rules-based bilaterial trade agreement with China".
In a speech Thursday, Trump said "in light of China's unfair retaliation", he had instructed trade officials to "consider whether $100 billion of additional tariffs would be appropriate'".
The memorandum is based on a so-called Section 301 investigation, launched by the administration in August 2017, into alleged Chinese intellectual property and technology transfer practices.
Shipping containers at Pier J at the Port of Long Beach wait for processing in Long Beach, California, U.S., April 4, 2018.
President Xi Jinping next week is expected to unveil fresh measures on reform and his country's opening up at the high-profile Boao Forum, China's equivalent of Davos, in the southern island province of Hainan.
"Both sides have put their lists on the table", China's Vice Finance Minister Zhu Guangyao told reporters on Wednesday.
Trump made good on his campaign promise to rein in trade by announcingsanctions on steel and aluminum imported from China in early March. China slammed the United States initiatives, saying it would impact the two countries' relations.
"We don't want a trade war, but we aren't afraid of fighting one". Farming states were also among Trump's staunchest supports in the election.
The Asian giant fired back with $50 billion in tariffs on USA goods yesterday. "The U.S. and China would suffer significant slowdown in real GDP growth - a cumulative loss around 1.0 percentage point", and cut global economic growth to 2.5 percent in 2019 from 3.0 percent in Oxford's baseline scenario.
April 2, 2018: China made its first retaliation by imposing tariffs on USA imports worth $3 billion. Such rapid development reflects the essence of China-U.S. economic relations, that is, mutual benefit or win-win.
In addition to advanced technologies such as communication satellites, the USA list includes items ranging from various types of steel to television components, medical devices, dishwashers, snow blowers and even flame throwers.
"Within 24 hours of the USA publishing its list, China drew its sword, and with the same strength and to the same scale, counterattacked quickly, fiercely and with determination", the paper said in a commentary on Thursday.
"My impression is that there is in Washington an exaggerated sense of how painful these tariffs might be" in China, said Arthur R. Kroeber, managing director of Gavekal Dragonomics, a research firm in Beijing. "It is said that China's stated intention of seizing economic leadership in advanced technology as set forth in its industrial plans, such as 'Made in China 2025" is at the core of the dispute between the two countries.
China has appeared anxious to avoid the problem, and the government-run Xinhua news agency has published numerous articles on averting the Thucydides Trap in recent years.
"While both governments have outlined positions that could do harm to the global aerospace industry, neither has yet imposed these drastic measures", the company said in a statement. "People from American industries may exert pressure on the US government and influence final policy implementation".