Trump says WTO is unfair to US

Trump says WTO is unfair to US

"It's been much more volatile in trying to understand what they're trying to tell us". And there's talk that the USA could also put limits on visas for Chinese who want to visit or study in this country.

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

Trade wars, like real wars or trade negotiations, can be won only if smart, knowledgeable and disciplined leaders lead the effort. "In an interview on CNBC, he reiterated that the "(U.S.) is not in a trade war" but wouldn't rule out that the current tit-for-tat between the two countries "is not the beginning of one".

"We're asking China to stop unfair trade practices", White House Press Secretary Sarah Huckabee Sanders told reporters at the press briefing.

President Xi Jinping next week is expected to unveil fresh measures on reform and his country's opening up at the high-profile Boao Forum, China's equivalent of Davos, in the southern island province of Hainan.

But White House officials say Americans shouldn't be anxious because neither country has actually taken action yet.

Trump upped the ante on Thursday by ordering United States officials to identify extra tariffs, escalating a high stakes tit-for-tat confrontation with potentially damaging consequences for the world's two biggest economies. But U.S. farmers - you know, soybean farmers in Iowa and elsewhere have been very nervous about this.

The National Retail Federation accused the White House of "playing chicken with the economy". We have been warning the administration and members of Congress that this would happen since the prospect for tariffs was raised.

Whatever measures the USDA eventually comes up with, it's unlikely that they would be effective because China can always impose counter-measures, experts said.

President Trump said on Thursday he had ordered USA trade officials to consider tariffs on $100 billion more of imports from China, escalating tensions with Beijing.

'We are not in a trade war with China,' says Donald Trump
China surprised markets overnight by announcing tariffs on yet more imports from the US , including airplanes, soybeans, and cars. Analysts expect a strong profit reporting season from corporate America when they start reporting results next week.

A Commerce Ministry spokesman said Friday that negotiations were impossible after Trump responded to Beijing's protests about his earlier plan to raise duties on $50 billion of Chinese goods by announcing still more possible tariff hikes. "Under these conditions, the two sides can not conduct any negotiations on this issue", Gao said, without elaborating.

The Europeans reject Trump's allegations, which have mostly circled on Germany's auto industry, and prepared a list of counter-measures in case the USA reverses course and slaps on the tariffs.

"Raw material prices, already on an uptrend since mid-2017, will likely be pushed up further as hoarding and speculation take place in anticipation and reaction to tariffs", he added. People are surprised, I'm not! The U.S. buys $506 billion worth of goods from China but only exports $130 billion, leaving a trade deficit of $375 billion between the two countries. The US also previously announced tariffs on Chinese steel and aluminum.

"China and the European Union. should take a clear stance against protectionism, jointly preserve the rules-based multilateral trade order, and keep the global economy on a sound and sustainable track", Zhang Ming, the head of the Chinese mission to the European Union, said in a statement sent to AFP.

"We need the U.S and China to come to the table and identify solutions to these serious problems", he added.

China has repeatedly vowed to "fight to the end".

On Friday evening in Beijing - during a long holiday weekend - the Chinese ministry of commerce reiterated that it will use "any measure" to fight back and declared it is not now considering talks with American trade envoys. It began when President Trump announced that he would impose tariffs of 25 percent on steel and 10 percent on aluminum.

Trump's surprise move Thursday to instruct the US trade representative to consider additional tariffs came a day after Beijing said it would tax $50 billion in American products, including soybeans and small aircraft, in response to a USA move this week to impose tariffs on $50 billion in Chinese imports. China responded within hours by announcing $50 billion worth of tariffs on U.S. goods.

Trump ratcheted up the rhetoric against China, saying he had instructed his trade officials to "consider whether $100 billion of additional tariffs would be appropriate".

The President has also told agricultural officials to implement a plan to protect United States farmers and agricultural interests.