Trump May Limits Visas for Chinese Citizens
- Author: Leroy Wright Mar 16, 2018,
Mar 16, 2018, 12:40
No longer, though. That's because President Donald Trump's actions are now aiming at what the market cares most about: corporate profits. The administration has been working for months on a report laying out the evidence for their allegations.
The tariffs announced by the Trump administration last week on steel and aluminum are viewed as relatively insignificant in terms of imports and exports. In all of these cases, the president either acted over the objections of senior advisers, or without bothering to consult them at all.
It is also unclear if the requested $100 billion reduction would address United States complaints about China's investment policies that effectively require USA firms to transfer technology to Chinese joint venture partners in order to gain market access.
"What I'm really saying is it's not so much tariffs, it's really saying we cant be taken advantage of anymore by these people that come in and dump everything in our country and destroy our mills and destroy our workers and destroy everything", he said.
Trump is looking to levy tariffs on up to $60 billion of Chinese imports, targeting the technology, telecom and apparel sectors, sources told Reuters on Tuesday.
Robert Ross, a professor of political science at Boston College, told CNBC: "The Chinese have made it clear: 'You want a trade war?".
"As soon as next week" is when officials indicated the $60 billion tariff package could be rolled out, but the "Treasury, State and Justice Departments have all insisted on a thorough review of the investment restrictions to avoid a repeat of the fallout from Trump's original travel ban, which was knocked down by US courts", according to one official.
Now that Trump has promised tariffs, one big question is how other countries, especially China, might retaliate.
Katainen said US business and both parties in Congress shared the EU's belief in trade guided by global rules.
"This will be one of the many steps the president is going to courageously take in order to address unfair trade practices". And there is significant evidence that the Chinese government has infringed upon such rights. In 2017, Wisconsin did have a trade deficit, but nearly its entire deficit is with China - $1.7 billion in exports versus $7.1 billion in imports.
But what the USA originally saw as problematic was China, an exporter of affordable steel. Countries in Asia, Latin America and Europe have long complained about Chinese trade practices such as forced transfers of technology, illegal government subsidies and dumping of low-priced exports in an effort to weaken competitors. This has frustrated the administration's efforts to get core allies on board with a sudden, coordinated attack on Beijing. Other countries feel similarly. The outbreak of trade wars will act like a tax on US consumers and negatively impact millions of U.S.jobs.
Japan instead proposed filing a joint suit against China within the World Trade Organization framework, the official said. Buffet has supported balanced trade negotiations with China for several decades.
White House officials even say the specifics of the plan remain fluid and it's unclear when they will be finalized.
In 2016, Trump promised America that he, alone, could fix it. Some members of Congress believe the president is unquestionably starting a trade war.