Wall Street analysts can't agree if the trade war threat is real

08 April, 2018, 01:10 | Author: Essie Rivera
  • Trump claims there's no trade war with China — even if it looks like one's brewing

"On Sino-U.S. trade, China has made its position very clear".

US President Donald Trump responded on Twitter to Beijing's tariff plans, saying America was not in a trade war with China, but that it had a trade deficit of US$500 billion a year and "intellectual property theft of another US$300 billion".

Trump said in a statement the further tariffs were being considered "in light of China's unfair retaliation" against earlier US trade actions that included $50 billion of tariffs on Chinese goods. They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair. "We represent 6 percent of the imports but account for 51 percent of the tariffs".

The products on the latest USA list include heavy machinery, motorcycles and high-tech items, such as semiconductors and batteries.

"If the United States says that it will pay any price, it must be firmly attacked", Xinhua said on Saturday. And China's leader, Xi Jinping, has used the standoff to reinforce the Communist Party's message that the United States is determined to stop China's rise - but that it no longer can.

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This was two days after the USA released a list of 1,300 products it proposed hitting with tariffs, totaling about $50 billion in trade. "President Trump's trade war means all three products will now be subject to a 15 per cent tariff by China".

On Wednesday, China unveiled a list of 106 U.S. goods - from soybeans and whiskey to frozen beef and aircraft - targeted for tariffs, in a swift retaliatory move only hours after the Trump administration proposed duties on some 1,300 Chinese industrial, technology, transport and medical products.

The White House blamed China on Friday for trade practices it said were illegal and unfair. "We can not let this continue!" he said.

Despite Trump's threats for more sanctions, he has insisted the U.S.is not engaged in a trade dispute with the Asian nation.

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