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Trump’s trade war with China escalates, threatens another $200 billion in tariffs

In Trump’s world, he can tariff other countries, but they can’t respond in kind

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Asian markets are taking a hit as Trump announces that he intends to expand the list of tariffs on Chinese exported goods. Trump continues to slam China over the trade deficit between China and the US and his displeasure with Chinese countermeasures to tariffs that he has imposed on them. Apparently, in Trump’s world, he can tariff other countries, but they can’t respond in kind.

Associated French Press reports:

Beijing on Tuesday accused Donald Trump of “blackmail” and warned it would retaliate in kind after the US president threatened to impose fresh tariffs on Chinese goods, pushing the world’s two biggest economies closer to a trade war.

Trump said on Monday he had asked the US Trade Representative to target $200 billion worth of imports for a 10 percent levy, citing China’s “unacceptable” move to raise its own tariffs.

He added he would identify an extra $200 billion of goods — for a possible total of $450 billion, or most Chinese imports — “if China increases its tariffs yet again”.

“Further action must be taken to encourage China to change its unfair practices, open its market to United States goods and accept a more balanced trade relationship with the United States,” Trump said in a statement.

Last week, he announced 25 percent tariffs on $50 billion in Chinese imports, prompting Beijing to retaliate with matching duties on US goods.

The US leader warned Friday of “additional tariffs” should Beijing hit back with tit-for-tat measures.

“The trade relationship between the United States and China must be much more equitable,” he said in explaining his latest decision.

“I have an excellent relationship with President Xi (Jinping), and we will continue working together on many issues. But the United States will no longer be taken advantage of on trade by China and other countries in the world.”

China’s commerce ministry immediately responded by saying the US “practice of extreme pressure and blackmail departed from the consensus reached by both sides during multiple negotiations and has also greatly disappointed international society”.

“If the US acts irrationally and issues a list, China will have no choice but to take comprehensive measures of a corresponding number and quality and take strong, powerful countermeasures.”

The news hit stock markets in Asia, where Shanghai shed three percent in the morning, Hong Kong lost more than two percent and Tokyo was one percent lower.

Trump is moving forward with the measures after months of sometimes fraught shuttle diplomacy in which Chinese offers to purchase more American goods failed to assuage his grievances over a widening trade imbalance and China’s aggressive industrial development policies.

China had offered to ramp up purchases of American goods by $70 billion to help cut its yawning trade surplus with the United States, whereas Trump had demanded a $200 billion deficit cut.

– ‘Unacceptable’ –

The China trade offensive is only one side of Trump’s multi-front battle with the United States’ economic partners as he presses ahead with his protectionist “America First” agenda.

Since June 1, steel and aluminium imports from the European Union, Canada and Mexico have been hit with tariffs of 25 percent and 10 percent, respectively.

“This latest action by China clearly indicates its determination to keep the United States at a permanent and unfair disadvantage, which is reflected in our massive $376 billion trade imbalance in goods,” Trump said of China’s retaliatory tariffs.

“This is unacceptable.”

Two decades ago, China’s economy was largely fuelled by exports, but it has made progress in rebalancing towards domestic investment and consumption since the global financial crisis erupted last decade — limiting the damage trade tariffs could inflict on Beijing.

Still, strong exports this year have lifted the economy, which is now showing signs of losing steam under the weight of Beijing’s war on debt, launched to clean up financial risks and rein in borrowing-fuelled growth.

Initially, 545 US products valued at $34 billion will be targeted by China, mimicking the Trump administration’s tariff rollout.

Beijing wants to “demonstrate that things will be done their way or not at all,” said Christopher Balding, an economics professor at Shenzhen’s HSBC Business School, who believes Chinese policymakers prefer demonstrations of “power and control” over “technical policy rightness.”

“It is a game of chicken,” Balding said.

So far Beijing has targeted major American exports to China such as soybeans, which brought in $14 billion in sales last year, and are grown in states that supported Trump during the 2016 presidential election, as well as other politically important products.

Officials also drew up a second list of $16 billion in chemical and energy products to hit with new tariffs, though China did not announce a date for imposing them.

More American targets are likely to follow as soon as the Trump administration follows through with publishing an expanded tariff list.

With China’s commitment to stay abreast of the ongoing tariffs war, it will produce a tariffs list of a corresponding dollar amount of goods coming out of the US, which Trump declares will also be met with a response. At this point, regardless of Trump’s ‘excellent relationship’ with Chinese President Xi, he is setting up an all out economic war with his largest trade partner by continuously upping the ante, which doesn’t bode well for US diplomacy in the region, either.

 

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JNDillard
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JNDillard

This is all good. It forces China to focus on more quickly and completely insulating itself from both trade wars and sanctions by the US by further developing its internal economy and building stronger trading relationships with other countries. I suspect it will find plenty of customers in the EU who will be looking to do the same.

Daisy Adler
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Daisy Adler

American soybeans, apples, cherries, some vehicles and pork are already on China’s tariff hit-list.China could also add soon US oil and propane. It also can cut down their holding of US Treasury bonds , actually standing at $1.2 trillion. Last month, China reduced it by $5.8 billion, while Russia sold half of its dollar bonds, down to $49 billion. By comparison, in 2013 Russia had $140 billion invested in US debt.

Guy
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Guy

Let the games begin ! The US better have an ace in the hole to save their proverbial a$$ as they are alienating everyone they trade with .

Kubrickian
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Kubrickian

They need our agriculture and we don’t need their plastic crap or tech that is inferior to Japan, Korea, and even Taiwan. China needs American consumers to keep their economy afloat.

Daisy Adler
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Daisy Adler

The real US-China trade relations: “Exports from China (to the rest of the world) increased by 12.6 percent year-on-year to USD 212.87 billion in May 2018 … Among major trading partners, exports rose to the US (11.6 percent to USD 39.3 billion) …” https://tradingeconomics.com/china/exports “US goods exports to China continue to outpace export growth to the rest of the world. In 2017, the United States exported more goods to China than ever before, more than $128 billion. US exports of goods to China have grown by 86 percent over the last decade, while exports to the rest of the world… Read more »

Ole C G Olesen
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Ole C G Olesen

If President TRUMP .. would like to TARGET THE REAL CULPRITS causing the TRADE and BALANCE of PAYMENTS DEFICIT of the USA.. he should start with the AMERICAN MULTINATIONAL CORPORATIONS .. who out of PROFIT HUNGER have OUTSOURCED USA MANUFACTORING JOBS to CHINA and to many other LOW WAGE COUNTRIES …. but I doubt he dares to do that

Cheryl Brandon
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Cheryl Brandon

Do not forget to read this very insightful article from 1927

https://www.metabunk.org/debunked-america-was-sold-to-5-billionaires-in-1927.t7371/

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Peak Stupidity: Deep State and mainstream media push ‘Trump is a spy’ nonsense (Video)

The Duran – News in Review – Episode 167.

Alex Christoforou

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The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the sheer stupidity of the entire ‘Trump is a Russian spy’ narrative being plastered all over the mainstream media, as neo-liberal shills and neocon war hawks continue to damage the Office of the United States President by insisting on pushing a made up story that a five year old child who waits for Santa Claus to bring Christmas gifts would have a hard time believing.

Meanwhile the real crime and real treason derived from a Comey-Clapper-Brennan Deep State plot to remove a democratically elected Trump from power, is being blacked out from the mainstream, neo-liberal news cycle.

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The Gateway Pundit lists the 35 times the FBI “deviated from standard practice” or committed crimes in an effort to exonerate Hillary Clinton and indict US President Donald Trump..


The FBI leadership under the Obama Administration took many actions that deviated from standard practice [i.e. were corrupt and criminal] in their efforts to exonerate Hillary from her crimes and then spy and frame candidate and then President Trump.  Today current members of the FBI are embarrassed to even turn on their TV’s as a result.

Time magazine of all places reported recently about the many efforts the FBI took related to Hillary exoneration and then the Trump framing.  These corrupt and criminal actions have taken a desperate toll on the current members of the FBI –

In normal times, the televisions are humming at the FBI’s 56 field offices nationwide, piping in the latest news as agents work their investigations. But these days, some agents say, the TVs are often off to avoid the crush of bad stories about the FBI itself. The bureau, which is used to making headlines for nabbing crooks, has been grabbing the spotlight for unwanted reasons: fired leaders, texts between lovers and, most of all, attacks by President Trump. “I don’t care what channel it’s on,” says Tom O’Connor, a veteran investigator in Washington who leads the FBI Agents Association. “All you hear is negative stuff about the FBI … It gets depressing.”

Of course the employees of the FBI are in a funk, their fearless and corrupt leaders, as well as leaders in Obama’s corrupt DOJ, went to extravagant links to exonerate the obvious criminal actions of Hillary Clinton, and then to do all they could to prevent candidate Trump from winning an election.  Then once the election was won by President Trump, they went to unheard of depths of deceit and corruption to attempt to remove him from office.

Here’s a list of the actions the Deep State FBI took in their recent criminal actions surrounding the 2016 Presidential election and since [the first 11 items are from the Time post noted above with comments in brackets] –

1 – Comey breached Justice Department protocols in a July 5, 2016, press conference when he criticized Hillary Clinton for using a private email server as Secretary of State even as he cleared her of any crimes
2 – Comey reopened the Clinton email probe less than two weeks before the election
3 – Andrew McCabe lied to the bureau’s internal investigations branch to cover up a leak he orchestrated about Clinton’s family foundation less than two weeks before the election and had lied for months about it
4 – FBI wasn’t adequately investigating “high-risk” employees who failed polygraph tests (but, in fact, putting them in charge of high-profile investigations, like Peter Strzok who failed his poly). In one instance, an FBI IT specialist with top-secret security clearance failed four polygraph tests and admitted to having created a fictitious Facebook account to communicate with a foreign national, but received no disciplinary action for that.
5 – The FBI’s miss of the Russian influence operation against the 2016 election, which went largely undetected for more than two years (The FBI had the chance to kill this Russian intrusion years before it reached crisis point in the election). Mueller’s Russia probe found that Moscow’s operation against the 2016 election first got under way in 2014, but the FBI failed to address it.
6 – The FBI was getting information it shouldn’t have had access to when it used controversial parts of the Patriot Act to obtain business records in terrorism and counterintelligence cases.
7 – The bureau missed the significance of the damaging 2015 hack of the DNC database [although others argue that the DNC was never hacked – due to the FBI’s lack of investigative process, we may never know what happened.] 8 – The bureau also sat on the disputed “dossier” prepared by former British intelligence officer Christopher Steele. [Which was then used for the entire case against Trump and anyone near him].
9 – The bureau’s decision to surveil former Trump campaign adviser Carter Page was influenced by politics.
10 – Text messages between FBI special agent Peter Strzok and FBI lawyer Lisa Page, which were critical of Trump.
11 – Comey broke with Justice Department rules and norms by assuming authority usually held by prosecutors and speaking in public about a case that did not produce criminal charges.
12 – Comey took copious notes and diligently informed others of all interactions with Trump while lying about having had any interactions with Obama, never taking notes or notifying anyone so even after having been warned of Mr. Steele’s motivations, even after having fired him for violating the rules, the FBI continued to seek his information—using Mr. Ohr as a back channel. This surely violates the FBI manual governing interaction with confidential human sources.
13 – FBI guidelines state that unverified information should not be submitted to the FISA court.
14 – They were passive, not proactive. The Obama administration “stood down” and watched these “activities” unravel. At worst, they possibly played a hand in creating circumstances to push the investigation forward into more serious stages that allowed for more intrusive techniques, such as spying. (The FBI is supposed to prevent crime, not watch it happen).
15 – John Brennan, James Clapper, Samantha Power, Loretta Lynch were all briefed by James Comey on the alleged Russian interference into the Trump campaign, yet the Trump campaign was left in the dark.
16 –FBI agents found Abedin deleting classified Clinton emails from her Yahoo account but failed to subpoena her devices. If they had, maybe they wouldn’t have had to reopen the case in 11th hour when NY agents found work emails on the laptop she shared with her perv husband.
17 – The FBI failed to notify Congress of the investigation into the Trump campaign for months rather than quarterly as was practice. [See Comey presentation to House Republicans in March 2017] 18 – The FBI did not pursue criminal charges when Clinton’s email archives were permanently deleted from her private server days after a subpoena for them was issued by a congressional committee investigating the 2012 attack on the U.S. diplomatic compound in Benghazi.
19 – The IG found that the FBI and DOJ during the MidYearExam probe of Hillary Clinton email server “did not require any witnesses to testify before the grand jury,” despite at least 3 witnesses lying to FBI agents.
20 – “[T]he 
Midyear team did not obtain search warrants to examine the content of emails in Mills’s or Abedin’s private email accounts and did not seek to obtain any of the senior aides’ personal devices.”
21 – IG Report: Nobody was listed as a subject of this [Clinton email] investigation at any point in time (So neither Hillary nor her top aides were formally under investigation by FBI at any time in 2015-2016, but the agents handling the issue thought it was a criminal action).
22 – The IG report indicates a strong pro-Clinton/anti-Trump bias in FBI investigators of Midyear and Operation Russian Collusion but it still went on without personnel changes or actions against the corrupt investigative team.
23 – The IG report found: “The MYE Team did not seek to obtain every device, including those of Clinton’s senior aides, or the contents of every email account through which a classified email may have traversed.”
24 – Manafort interviewed twice before joining the Trump team. If he was guilty of anything why did they allow him to join the Trump team?
25 – In 2008, a questionable person on McCain’s POTUS campaign caught the attention of FBI counterintelligence, and the FBI privately approached McCain. That questionable person was quietly removed from Team McCain but this same sensitivity was not provided to the Trump team.
26 – The corrupt Obama FBI and DOJ used the “salacious and unverified” opposition research called the Steele dossier to open a counterintelligence investigation and obtain warrants but it wasn’t even verified and it was created by the opposition party [DNC]. [Multiple sources] 27 – Unprecedented leaking to the press: 13 different individuals at the FBI were feeding a journalist information.
28 – Dan Bongino asks the question: How did Halper go from being a CIA informant to an FBI informant? And he’s right. It is a DEVIATION FROM THE STANDARD PRACTICE for law enforcement agencies to give up/share their asset.
29 – The “probable cause” arrest of George Papadopoulos is a deviation from the standard practice.
30 – Halper was a CHS (Confidential Human Source). FBI rules prohibit using a CHS to spy on Americans before an official investigation has been created.
31 -Stone and Caputo say they believe they were the targets of a setup by U.S. law enforcement officials hostile to Trump which was before an official investigation which again is a deviation from standard practice.
32 – The FBI interviewed Carter Page in March of 2016 about his Russian ties. Two months later, Comey is briefing the NSC about his concerns about Carter Page. Nothing of any note happened in those intervening months to cause a rise of concerns, so whatever concerns Comey had Comey had them before Page was hired on as an adviser. It was a DEVIATION FROM STANDARD PRACTICE for Comey to not have warned Trump about Page. Comey warns Obama instead who also takes no steps to warn Trump.
33 – Another deviation from the standard practice is to start an investigation without a crime.
34 – Planting the Isikoff article to be used in court to obtain a FISA warrant.
35 – Related to the FBI, it’s important to note that former DNI chief James Clapper limited the IC report for review to only 3 agencies rather than send the report out to all 17 agencies for review. This way he was able to control what was put into the report – another deviation from the standard practice.

This may only be a partial list of FBI abuses and actions taken with deviations from standard practice, if not clear cut crimes.  The gangsters who ran Obama’s FBI, from Mueller to Comey, are so corrupt, current and former agents are now embarrassed to be part of the once storied federal agency.  Quite frankly, it’s doubtful if the FBI can ever be trusted again!

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Trump’s wish to take the US out of NATO leaves NeoCons seething

The US President has seen the truth of the irrelevance of NATO, but there is enormous resistance to change.

Seraphim Hanisch

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Tucker Carlson, Fox News and Russian and American news outlets alike have picked up the story that US President Donald Trump has on numerous occasions, opined that the United States would do well to depart from the North Atlantic Military Organization, or NATO.

This wish caused enormous fury and backlash from those opposed, which, oddly enough include both Democrats and Republicans. Their anger and alarm over this idea is such that the media networks through much of the US are alive with the idea of impeaching the President or bringing 25th Amendment proceedings against him for insanity!

Take a look:

Tucker Carlson, as usual, nailed it.

NATO was formed to make Western Europe secure in the face of a perceived Soviet threat. In 1991, the USSR collapsed and the threat of Ivan the Communist bad guy collapsed with it.

But 28 years later, NATO is still here. And, why?

Well, many “experts” continue to point at Russia as a threat, though after that statement no one seems honestly able to elucidate precisely how Russia would, in fact, threaten any nation, take over it, or conquer the world. Indeed, if anyone seems to understand the perversity of being in charge of the whole world, it seems to be Russia, as expressed by politician and LDPR leader Vladimir Zhirinovsky (see how this is so here).

Zhironovsky observed that China is the other nation that is running at full force, but viewing the problems the US is having with being the leader of the world, China stops short of trying to attain this position itself. The question becomes “What does a nation that rules the world actually do then?”

President Trump appears to be seeing the same question, or some similar variant based on the same theme. NATO serves no constructive purpose anymore. Despite the conflicts in Ukraine and Saudi Arabia and Yemen, Israel and Syria, there simply are no great threats in the world as it stands today. While there are certainly still wars, none of these wars represents an existential threat to the United States.

Why wouldn’t a US leader want out? In fact, there is further no existential threat to Europe from any present war, nor is there a threat from Russia itself. In fact, Russia has been entering into business relations with many European countries who wish to buy cheap and easily available Russian natural gas. Turkey purchased an S-400 antimissile system in addition to its US made Patriot battery.

There would seem to be very little in the way of concrete and reliable reasoning for the alliance to continue.

But the American Deep State and liberal establishment have come together to resist the US President in a truly furious manner, and it is revelatory of the hypocrisy of anti-Trump politics that American liberals, typically the “sing Kum-ba-yah peacenik” crowd, displays paroxysms of outrage and horror that NATO might be disbanded.

As the result of that, the American media is determined to choke off any possibility of one thinking, “well, what if we were to disband NATO?”

Why is this?

Simple. A lot of people make their living by preparing for the Russian “threat”, and it would mean the end of their work, the end of their money, and a great disruption in life. It does not matter that while this is true, these same people could conceivably apply their considerable skill sets to deal with real problems that face a world that no longer has a dipolar alignment, or to help prevent a real problem from arising from real situations, such as the recent and current Islamization of many European cities.

One of the great afflictions of American politics and policy has been that so much of it appears to be focused on “short term” or “no term” matters. We see this with the problems related to border security, the coming advent of AI-based automated processes that may furlough low-skilled workers in tremendous amounts in a short period of time. Rather than solve real problems, the elected representatives and media seem more content to oppose Donald Trump when he, as a businessman ought to do, makes a federal case out of what he sees on the horizon.

The Border Wall, for example, is a highly logical part of a properly handled set of immigration policies. But the very direct behavior of President Trump helped amplify the resentment the Democrats still hold against him for defeating Hillary Clinton in 2016, and so, the Democrats have effectively said “nuts!” to the needs of the nation and they take out their resentment on the nation by refusing to negotiate with the President about how to close the border.

NATO is another example. The alliance served its purpose. It is time for the alliance to end, or to be radically restructured in terms of new goals based in real, and not just flimsy rhetorical, needs.

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BREXIT storm deepens, as parliamentary coup may be forming against May and Corbyn

The Duran – News in Review – Episode 166.

Alex Christoforou

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Emboldened by Theresa May’s lack of leadership and will to deliver the Brexit that UK citizens voted for in a democratic referendum, remain MPs are now mobilizing to do the EU’s bidding in forcing Britain to nullify the Brexit process and eventually stay a part of the European Union.

After yesterday’s thumping of May’s Brexit plan in parliament, The Times’ Matthew Parris is now openly floating the idea that “it’s time for parliament to wrest control from the zombies, stating that “Theresa May isn’t any good” and “Jeremy Corbyn is equally useless”…

There exists no leadership in either the government or the opposition capable of taking us through this mess. No hidden strengths, no unexpected qualities; no whizzbang new thinking, no magic. Forget May. Forget Corbyn. Salvation is not coming from these directions.
So it’s up to parliament. MPs are coming to understand that they have to act. It has been stealing on parliamentarians for months now and close contacts between leading members of both parties have been made and have been deepening.
From within the Commons a shadow executive must emerge, and is beginning to. Labour’s Yvette Cooper talks to the Tories’ Dominic Grieve. Around them is a cluster of senior parliamentarians who are getting used to talking.
A common purpose unites them: rescuing the country from a no-deal Brexit that only a small minority actually want. Whether this is to be done by seeking a better deal than May’s or by a new referendum, or both, they need to find a way soon. An “indicative” vote of the House of Commons may help guide them.
And however speedily the House can find its leadership and direction, it’s hard to imagine this can be done without an extension to the Article 50 negotiating period.
Overwhelmingly, the conclusion to be drawn from last night’s vote is that parliament must wrest control from a zombie prime minister, a zombie cabinet and a zombie opposition. I heard in May’s response to the result the hint of the straw at which she may now clutch: a Labour-style Brexit under a Tory nominal prime minister. I would be amazed if her party would accept it.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the turbulent and uncertain road ahead in the Brexit saga as a March deadline looms.

Shifting sands, and betrayal at the highest level is now crystallizing, as hints of a possible parliamentary coup against May and Corbyn is being floated as a possible solution to the impasse that will ultimately steer the UK back under EU control, and cancel the Brexit referendum.

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Via Straits Times

The words “humiliated” and “crushed” featured prominently in British newspaper headlines following Parliament’s massive rejection of a divorce deal with the European Union on Tuesday (Jan 15).

Dailies said Prime Minister Theresa May’s grip on power was waning after the huge vote against the agreement struck between her government and Brussels, as she prepared to fight a no-confidence motion on Wednesday.

“May humiliated by 230 votes,” The Daily Mirror tabloid said.

The Daily Telegraph wrote: “Humiliation for Prime Minister as MPs overwhelmingly reject deal and Labour tables no confidence vote.”

The broadsheet’s parliamentary sketchwriter Michael Deacon said Mrs May had somehow defied the odds by making a historic event an anticlimax.

“Her speech had all the brio of a mouldy gym sock,” he wrote.

“She sounded as winningly persuasive as a mother snapping at her children to eat up their cabbage or go to bed hungry.”

The vote itself “was as if Agatha Christie has allowed Miss Marple to solve the murder half way through and spend the rest of the novel pottering about in the garden”.

‘ZOMBIE PM’

The Times columnist Matthew Parris said it was time for senior MPs to take over the Brexit process.

“There exists no leadership in either the government or the opposition capable of taking us through this mess,” he wrote following the vote.

“Theresa May isn’t any good; she doesn’t have a fiendish, secret strategy; she’s careless with the truth and will say anything to get her through another week. She doesn’t know what to do.

“Overwhelmingly, the conclusion to be drawn… is that Parliament must wrest control from a zombie Prime Minister, a zombie Cabinet and a zombie opposition.”

The Daily Mail said the defeat left Mrs May’s power “hanging by a thread”, calling it a “devastating result, which threatens to plunge the Brexit process into chaos”.

The Sun, Britain’s biggest-selling newspaper, said: “Crushed PM dares MPs to vote for general election after record Brexit defeat.”

“The crushing defeat – which saw 118 Tories turn against the PM – is the worst since the advent of full democracy and suggests Mrs May will never win enough support for her strategy,” said the tabloid.

The Financial Times newspaper ran a headline reading: “May’s defeat spells trouble for the EU’s Brexit approach.”

“Huge loss leaves PM in race against time,” the broadsheet said.

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