Trump blasts 'stupid' trade practices with China

Casey Dawson
April 10, 2018

"With his speech, Xi is offering a solution to the Sino-U.S. trade dispute", said Yang Hai, strategist at Kaiyuan Securities, referring to the pledge to open up Chinese markets, including financial and auto sectors, while demanding fewer restrictions on Chinese purchases of high-tech products.

Meanwhile, Chinese diplomats filed a request at WTO headquarters in Geneva for consultations with Washington over Trump's tariff hike on steel and aluminum. They say that depends on tariff negotiations with the Trump administration.

"As I understand it, there is no plan whatsoever for the two sides to talk", said Ruan Zongze, a former Chinese diplomat now with the China Institute of International Studies, a think tank affiliated with the Foreign Ministry.

"We look forward to seeing these strategies elaborated, implemented and bearing fruit", Lee said, according to a transcript issued by his office. "And we'll make it up to them". But he declared the US would emerge "much stronger, much richer".

The Trump administration has said it is taking action as a crackdown on China's theft of US intellectual property.

Chinese state researchers and media talked down the likely impact of USA trade measures on the world's second largest economy and described the Trump administration's posturing on trade as the product of an "anxiety disorder".

"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers", Trump said at the time, calling Beijing's reaction "unfair".

On Sunday, Trump predicted China would take down its trade barriers, and said: "Taxes will become reciprocal and a deal will be made on intellectual property".

West Africa's crude oil loadings for Asia are set to fall to a five-month low in April, dragged down by a backlog of cargoes outside China and strong Brent prices that hindered new bookings, a Reuters survey of shipping fixtures and traders showed on Friday.

'No innocent people' in Gaza Strip: Israeli minister
Mohamed Anbar, 46, was shot and injured by Israeli soldiers near a military checkpoint in the city of Tulkarm last week. The demonstrations turned violent after Israeli forces used tear gas and live fire against crowds of protesters.

China's President Xi Jinping has soothed investor fears of a trade war with the U.S. as he warned against a "Cold War mentality", causing Asian shares to bounce.

"When a vehicle is sent to the United States from China, there is a Tariff to be paid of 2 1/2%".

"Ultimately, U.S. industry will be looking for implementation of long-stalled economic reforms, but actions to date have greatly undermined the optimism of the U.S. business community", Parker said in an email.

Chinese officials deny such charges, and responded within hours of Trump's announcement of tariffs with their own proposed commensurate duties.

Trump has threatened to raise tariffs on Chinese goods worth $50 billion.

Strains over US complaints that China is flooding global markets with unfairly low-cost goods and pressuring foreign companies to hand over technology have spiraled into the biggest trade conflict since World War II.

A worker takes a sample from an incoming truckload of soybeans at Peterson Farms Seed facility in Fargo, North Dakota, U.S. on December 6, 2017. Kudlow, who started his job a week ago after his predecessor, Gary Cohn, quit over the tariff plan, brushed aside the possibility of economic repercussions.

"But I tell you, our farmers are great patriots".

Treasury Secretary Steve Mnuchin said on CBS' "Face the Nation" that he didn't expect the tariffs to have a "meaningful impact on the economy" even as he left the door open for disruption. "The new trade barriers create additional hurdles to farmer profitability that has already been in decline for the last four years", Naig says.

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