Sunday, 17 February, 2019

Donald Trump’s new trade tariff plan may impact India

President Trump meets with Chinese Vice Premier Liu He at the White House on Jan. 31 President Trump meets with Chinese Vice Premier Liu He at the White House on Jan. 31
Laurie Berry | 06 February, 2019, 18:10

"I don't think it would be productive to speculate on the outcome because we have a lot of work left to do".

The sources said that the United States delegation would begin arriving in Beijing over the weekend, following a break this week for Chinese New Year.

Trump has vowed to increase tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent now if the two sides can not reach a deal by 12:01 a.m. (0501 GMT) on March 2.

During the course of his charged-up State of the Union address on Tuesday night, US President Donald Trump came took potshots galore at China while also admonishing his own political rivals for having had a soft global trade policy.

The IIF study also found that the tariffs had done little to reduce the USA bilateral deficit with China, amid retaliatory duties from Beijing and "a large reduction in China's imports from the U.S". But the trade war will also have a number of negative effects on global trade, especially within certain markets.

"We are now making it clear to China that after years of targeting our industries, and stealing our intellectual property, the theft of American jobs and wealth has come to an end", Trump said in his speech.

Sea lion video found on USB in frozen leopard seal poo
Now, NIWA scientists have posted video from the still-working stick on social media, in the hopes of reuniting it with its owner. After all, "the more we can find out about these creatures, the more we can ensure they are looked after", Warren said.

Also, UN research released yesterday argued that while Asian supply chains are likely to suffer from the tariffs, USA firms won't see much benefit.

The US and Chinese governments are scrambling to strike a deal before March 2.

The talks have centred on addressing USA demands for deep structural changes to China's economic and trade policies, including new protections for US intellectual property, ending forced technology transfers, reining in China's subsidies for state industries and increasing Chinese purchases of USA farm, energy and manufactured products.

American firms would capture only six percent of about $250bn of the affected Chinese exports, while Chinese companies would retain 12 percent, despite the higher cost of trade, the study said.

The implications of such a development would be "massive", the UNCTAD Director, Division on International Trade in Goods and Services, and Commodities, continued, adding that its effects would first of all involve "an economic downturn due to instability in commodities and financial markets". A common concern is the unavoidable impact that trade disputes will have on the still fragile global economy. "China trade. Japan, Mexico and Canada will capture over $20 billion each". This is especially worrying if trade tensions spiral into currency wars, which would threaten the ability of people and companies around the world to pay off dollar-denominated debt, they said. What comes of any deal will depend on the political will of future presidents to use the same tariffs Trump has employed to enforce it, the official said.

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