U.S. slams harmful China trade policies, threatens auto tariffs

Posted November 30, 2018

Prime Minister Narendra Modi on Thursday reached Buenos Aires, the capital of Argentina to attend the G-20 summit where he will discuss ways to meet the new and upcoming challenges of the coming decade with other world leaders, including US President Donald Trump.

Kudlow adds that if the US doesn't get "satisfactory" responses to its trade positions more tariffs will be imposed.

U.S. President Donald Trump says the United States is "very close" to a deal with China on tariffs, as he heads to the G-20 summit for highly anticipated talks with Chinese President Xi Jinping aimed at defusing long-running trade tensions.

Yet, as Reuters notes, the backdrop of the summit will be the competition between the us and China for influence in Latin America.

Trump's insistence on escalating the trade war could provoke China to respond by targeting Apple with penalties, Bernstein's Tony Sacconaghi said on CNBC.

Economic advisor Larry Kudlow told a White House press conference that "the president said there is a good possibility that we can make a deal and he is open to it".

Lam thinks the most Xi can get from Trump will be a delay in raising the tariffs.

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The China-Latin America and China-Argentina friendships hold a special place in the hearts of the peoples of the countries concerned, Yang added. US Secretary of State Mike Pompeo said he had seen no "direct" evidence linking the prince to Khashoggi's murder at a Saudi consulate in Turkey.

Those discussions, according to people familiar with them, have centred on the possibility of a truce in which the US would delay ramping up tariffs on China in exchange for Chinese concessions. "If we don't make a deal, then I'm going to put the$267 billion additional (tariffs) on".

Trump had first threatened those tariffs and higher tariffs on the initial $200 billion in goods last summer.

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China now imposes a 40 percent tariff on US automobiles, while the United States has a 27.5 percent tariff on Chinese vehicles.

"We are in a position to deal with it and handle it very well", he said.

Some administration officials have been arguing that hitting allies such as the European Union and Japan with tariffs at the same time as Trump is soliciting their help in taking on China would be counter-productive.

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The two sides will also explore how to further strengthen cooperation within the framework of the Belt and Road Initiative and jointly promote the building of a community with a shared future for mankind, Yang said.

"But we have literally helped rebuild China with the kind of money that we lose on trade, and I just decided about a year ago that I just won't do that", he said.

In 2011, Trump claimed "China is raping this country" during a tour of a defense manufacturer in New Hampshire, local media reported.

"If they did make the smartphones in the U.S., it would add somewhere between 20% to 35% more to the final consumer prices of the phones sold to the public", Creative Solutions president Tim Bajarin said.

Asked by the paper if he'd go ahead and impose the auto tariffs, Mr. Trump said, "If they don't make a fair deal with us, I'd do it in about 12 minutes". "We have an opportunity to extend that optimism, break some new ground", Kudlow said.

"Watch this space, as he (Trump) would say", Mr Morrison told reporters in Canberra ahead of jetting off to Buenos Aires for the two-day gathering.

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