collapse

Author Topic: Trump threatens China sanctions, vows to rework S Korea trade deal  (Read 46 times)

0 Members and 1 Guest are viewing this topic.

Offline JA DU ( transracial)

  • Hero Member
  • *****
  • Posts: 2335
  • Karma: +19/-12



WASHINGTON: US President Donald Trump threatened retaliatory action against two major Asian trading partners Tuesday, warning of sanctions against China while vowing to revise or scrap a free trade deal with South Korea.

Accusing Beijing of decimating American steel and aluminum industries, Trump said he was "considering all options," including tariffs and quotas.
Trump recently received two Commerce Department reports concerning alleged Chinese subsidies for steel and aluminum exports -- materials that are vital for industries from construction to autos.

He has another two months to decide on possible retaliatory action, but strongly indicated that he is leaning toward hitting back at Beijing.
"I will make a decision that reflects the best interests of the United States, including the need to address overproduction in China and other countries,´ he said.
Experts believe any US sanctions would prompt China to respond with sanctions of its own, raising the specter of a trade war between the world´s two largest economies.

China produces around half of the world´s steel and is accused of flooding the market in order to keep the economic wheels turning at home.
For decades Chinese leaders have been consumed with the need to -- as former president Hu Jintao once put it -- create "25 million jobs a year."
But Trump also is under domestic pressure. He came to office vowing to be a champion of America´s rust belt and said Monday he had to act to save the "empty factories" he saw on the campaign trail.
Widening trade deficit

The US trade deficit -- which Trump has vowed repeatedly to fix -- widened even further during his first year in office, up 12 percent to $566 billion.

"They´re dumping and destroying our industry, and destroying the families of workers, and we can´t let that happen," Trump told a group of Republican and Democratic lawmakers at the White House.

Trump received some support from the group, but also warnings that action against China could drive up prices and hurt US manufacturing outside the steel and aluminum sectors.

"Mr. President, I think we do need to be careful here, that we don´t start a reciprocal battle on tariffs,´ said Republican Senator Roy Blunt.
"You know, we make aluminum and we make steel" he said. "But we buy a lot of aluminum and we buy a lot of steel as well."
Daniel Ikenson of the pro-trade CATO institute said that Trump may be forced moderate his actions, if not his tone.
"Despite the rhetoric, Trump doesn´t want to subvert ´his´ economy," Ikenson wrote this week.

"Trump is today more aware that the impulsive actions he has threatened to take would carry some very significant economic and political costs."
That is also true for relations with South Korea, which are already strained over Trump´s saber rattling over North Korea´s nuclear program.
Taking aim at Seoul, Trump complained that America´s 2012 free trade deal with South Korea "was a disaster," vowing the United States would renegotiate a "fair deal" or scrap it altogether.

The Trump administration initiated talks to renegotiate the United States-Korea (KORUS) trade agreement in July last year, arguing it was lopsided because American´s bilateral trade deficit had ballooned under it.

"We have a very, very bad trade deal with Korea," Trump said. "For us it produced nothing but losses."
Trump´s comments came a day after he singled out South Korea and China, along with Japan, over their trade surpluses with the United States, accusing them of "getting away with murder."

https://www.thenews.com.pk/latest/280635-trump-threatens-china-sanctions-vows-to-rework-s-korea-trade-deal

 
Name: Email:
Verification:
Type the letters shown in the picture
Listen to the letters / Request another image
Type the letters shown in the picture:
What is the most common last name in VN?:

* Recent Posts

Song about Coco Chanel? by gaden
[Today at 01:28:30 PM]


Small electric cars should replace motorbikes by Atreygutten
[Today at 09:07:08 AM]


new modern ao dai by gaden
[Yesterday at 03:24:40 PM]


A Secret Service agent tackled a Chinese security official over the nuclear foot by JA DU ( transracial)
[Yesterday at 08:30:01 AM]


Australia, US, India and Japan plan to counter China's Belt and Road initiative by JA DU ( transracial)
[Yesterday at 08:15:28 AM]


Seedless jackfruit by gaden
[Yesterday at 08:06:21 AM]


Vietnam ranked #44 in Best Country by gaden
[February 18, 2018, 10:08:46 PM]


Who were the "百濮" (Hundreds Pu) people in Southern China? by gaden
[February 18, 2018, 10:01:22 PM]


The Forgotten Hoa Chinese of Vietnam: Ngai and San Diu by gaden
[February 18, 2018, 09:55:58 PM]


One more:Student wins full scholarship to prestigious MIT in the US by NT
[February 18, 2018, 10:42:44 AM]


Explosion of Vietnamese Immigrants Changing Japan´s Demographic by Qu Đơn
[February 18, 2018, 02:44:17 AM]


this girl is charming AF by NT
[February 17, 2018, 07:42:17 PM]


Võ Nguyên Giáp by NT
[February 17, 2018, 07:32:02 PM]


Vietnamese electric car by Qu Đơn
[February 17, 2018, 01:51:17 PM]


It's time for vietnamese men to drop the korean fashion by gaden
[February 17, 2018, 12:21:36 PM]


Happy Tet Lunar New Year 2018 Everyone!!! by gaden
[February 17, 2018, 12:09:56 PM]


Valentine song (A&E) by gaden
[February 17, 2018, 09:35:51 AM]


Putin Holds Military Exercises on Islands Claimed by Japan by JA DU ( transracial)
[February 17, 2018, 06:56:14 AM]


After Trump election, Russian diplomats start to die one by one by JA DU ( transracial)
[February 17, 2018, 06:54:44 AM]


Admiral warns US must prepare for possibility of war with China by JA DU ( transracial)
[February 17, 2018, 06:53:46 AM]


Vietnamese Khai Silk CEO Bought Fancy Cars and Photographed Himself as Arab by Qu Đơn
[February 16, 2018, 04:17:59 PM]


Does Vietnam have to be industrialized? by Qu Đơn
[February 16, 2018, 04:15:28 PM]


Asians look ridiculous in Western clothes: Japan Royalty by Qu Đơn
[February 16, 2018, 04:11:40 PM]


Japan betting the largest overseas investment scheme in Vietnam by Qu Đơn
[February 16, 2018, 03:45:42 PM]


What Vietnamese Think of Donald Trump by Qu Đơn
[February 16, 2018, 03:33:35 PM]

* News Feeds