Chinese newspaper says Trump inquiry could spark trade war, 'intensify tensions'

Chinese newspaper says Trump inquiry could spark trade war, 'intensify tensions'
Chinese newspaper says Trump inquiry could spark trade war, 'intensify tensions'
Author

15 August, 2017

There is no deadline for deciding if any investigation is necessary. If approved, the investigation is expected to take as much as a year, officials said.

Saturday that Trump spoke with Chinese President Xi Jinping about the upcoming memo during a phone call Friday.

Rather than Russian Federation or China being the sole veto in the U.N. Security Council, it might result in the United States being the global outcast potentially having to veto potential sanctions.

In a worst-case scenario of full trade war, China's exports to the U.S. would drop, but that would shave off just 0.1 percentage point from China's economic-growth rate, according to China International Capital Corp.

Trump's memorandum will direct US Trade Representative Robert Lighthizer to determine whether any Chinese laws, policies or practices discriminate against or harm American innovators and technology companies, the officials said. "Those activities haven't abated; they've accelerated as China seeks to become self-sufficient in new technologies and dominate world markets", he said. If an investigation begins, the USA government could seek remedies either through or outside of the World Trade Organization.

Today, Beijing issued an official ban on the imports effective from tomorrow as it moved to implement the sanctions.

The latest move, opening a new front of trade friction even as the countries try to work together to contain North Korea's nuclear threat, would possibly end up as just another example to show how trade policy isn't as simple as it sounds.

The action is likely to escalate tensions with Beijing at a time when Washington has asked for its help on North Korea.

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"It helps a few Americans for a short term, a decade or more", Kuhn said, "But over the long term, it hurts America because it prevents the transformation of industry into industries that are more sustainable.It's like going backwards to try to protect something that is not protectable in the long term".

If the USA were to engage in such an act, Parker thinks China or Russian Federation would introduce a U.N. Security Council resolution to restrain the US.

China, the isolated North's main trading partner, has been reluctant to push leader Kim Jong-un's regime too hard for fear it might collapse. Despite Beijing's support for tougher United Nations sanctions on Pyongyang, Trump appears to be getting frustrated with the lack of progress.

The Chinese commerce ministry said on its website that all imports of coal, iron, iron ore and seafood will be "completely prohibited" from Tuesday.

Trump has escalated his harsh criticism of North Korea for days, tweeting Friday that the USA had military options "locked and loaded". "President Trump is committed to protect America's intellectual property and national security", the official said.

"Given Trump's transactional approach to foreign affairs, it is impossible to look at the matter without taking into account his increasing disappointment at what he deems as China's failure to bring into line the Democratic People's Republic of Korea", the English-language paper said.

China on Monday warned of a possible trade war with the USA if Washington begins investigating alleged Chinese trade practices in bilateral commerce.

Trump has requested similar inquiries on trade, but the reports haven't been delivered on deadline.


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