Trump Tariffs Slam Canada, EU-Not China

Trump Tariffs Slam Canada, EU-Not China

The move towards imposing US tariffs on Chinese goods follows negotiations between USA and Chinese officials centered on increased purchases by Beijing of American farm and energy commodities and cutting the USA trade deficit with China. "If there are not tariffs, it will be because the president has decided that he's not ready to implement tariffs", said a person familiar with the matter.

Under the 1974 trade law that Trump invoked to pursue a tariff investigation into China's intellectual property practices, he could delay the activation by 30 days. They are part of Trump's decision to go forward with "pretty significant" tariffs, an administration official said on Thursday.

Trump is shaking up the world economic order with his zeal for tariffs and embrace of trade conflict as a way to secure benefits for the U.S. He threw a summit of the Group of Seven wealthy economies into turmoil by revoking support for the group's joint statement and berating the summit's host, Prime Minister Justin Trudeau.

"Moving forward with tariffs on goods imported from China will harm USA consumers and businesses, and will fail to change China's discriminatory and damaging trade practices", Dean Garfield, CEO of the Information Technology Industry Council (ITI), said in a statement last month.

The White House has said it is proceeding with plans to impose duties on US$50 billion (S$66.7 billion) of Chinese goods, after weeks of high level-discussions between the USA and China yielded little progress.

Speaking alongside U.S. Secretary of State Mike Pompeo in Beijing, Chinese State Councillor Wang Yi said there were two choices when it came to trade.

But that recommendation came before Trump's trip late last week to Canada for the G7 leaders summit and to Singapore for the nuclear summit with North Korean leader Kim Jong-un.

"I stressed how important it is for President Trump to rectify that situation so that trade becomes more balanced, more reciprocal and more fair, with the opportunity to have American workers be treated fairly", he said. In April, it said it would levy 25% tariffs on imports of 106 United States products including soybeans, automobiles, chemicals and aircraft, in response to proposed American duties. But he signalled that whatever the implications, "I have to do what I have to do" to address the trade imbalance.

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Sanford had been critical of Trump at times, saying he "fanned the flames" of intolerance and decrying his disregard for facts. Jeff Flake, a fierce critic of the President who decided not to run for re-election in Arizona.

The tariffs could be applied in stages, according to two of the people briefed on the administration's plans.

"A slowing China will add to the challenges for the global economy", said Louis Kuijs, chief Asia economist at Oxford Economics in Hong Kong and a former International Monetary Fund researcher. Many warned that the tariffs would increase costs and raise prices for consumers. 'It's really not just tariffs, it's tariffs on a scale never before considered'.

Pompeo said the US deficit with China was still too high, but that they had had good talks.

Asked how strong, Trump said: "Well, I think very strongly".

This person also said Ross had said the list would take aim at products for which China supplied 33 percent or less of total US imports in individual product categories, making it easier to shift to other countries' supplies.

"The biggest and darkest cloud that we see is the deterioration that is prompted by the attempt to challenge the way in which trade is being conducted, in which relationships have been handled, and the way in which multilateral organizations have been operating".

The US tariffs are designed specifically to punish China for forcing American companies to hand over technology in exchange for access to the Chinese market.

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