Trump prepares for critical week of diplomacy
- Author: Leroy Wright Apr 04, 2017,
Apr 04, 2017, 6:23
He is to host Chinese President Xi Jinping (習近平) Thursday and Friday at his Mar-a-Lago retreat in Florida, where trade is expected to be a central talking point as well as North Korea and China's ambitions in the South China Sea.
Before leaving the room, Trump said, "Thank you everybody, you're going to see some very, very strong results very, very quickly".
But the two executive orders he signed in the Oval Office - meant to improve the USA trade deficit - won't do much to help the economy, experts said.
USTR also accused China of using a range of measures to engineer the transfer of foreign technology to Chinese firms. In an interview to the Financial Times over the weekend, Trump raised expectations by saying, "I would not be at all surprised if we did something that would be very dramatic and good for both countries".
President Donald Trump faces his most critical week of statesmanship so far - and it will reflect sharp changes of direction he has already wrought in USA foreign policy.
Trump will be hosting Chinese President Xi Jinping at his "Southern White House" in Mar-a-Lago at the end of the week.
"The market was a little taken aback by Trump's comments recently about the meeting", he said. "I would not be at all surprised if we did something that would be very dramatic and good for both countries and I hope so". By telling China that we can not continue to trade if we are going to have an unfair deal like we have right now.
Trump's tough stand on trade with China helped propel him into the presidency, winning blue collar votes in Rust Belt states where unemployment in the manufacturing sector has been blamed on companies moving factories to China. United States has massive trade deficits totaling more than $500 billion per annum with 16 countries, including China and India.
However, Wu also reiterated China's opposition to the deployment of a sophisticated missile defense system in South Korea, known as THAAD, which Beijing says threatens its own security with its ability to monitor flights and missile launches deep inside northeastern China.
On the data front, we enter the twilight world of opinion poll surveys with the Purchasing Manufacturing Managers Indicator (PMI) data from Europe that came in at a near six-year high as growth accelerated in Germany, France and Italy.
The analyst went on to say, "The Pivot to Asia began with [former US President Barack] Obama and it has been militarily aggressive and threatening and that should not be discounted".
"Sino-US trade is highly complementary and has mutual benefits", the statement said.
USA stock futures were flat, indicating a note of caution as focus turned to earnings and a meeting on Thursday and Friday between the US and Chinese presidents.
Meanwhile, US Commerce Secretary William Ross has alleged that China is one of the most protectionist country in the world. As for the U.S. trade deficit with Germany, Germany's Federal Statistics Office says the deficit almost doubled in the previous decade from 28.8 billion euros in 2006 to 49 billion euros in 2016.
Local industry experts warned earlier this week that shipments of Thai-made auto parts and tyres to the USA could suffer if the Trump administration follows through on some of its protectionist rhetoric or imposes a "border adjustment tax".