March 18, 2018

President Trump outlines "aggressive" trade agenda

05 March 2018, 11:10 | Erma Lawrence

President Trump outlines "aggressive" trade agenda

China to increase 2018 defense budget by 8.1pc

"This dialogue is very useful, constructive and helpful", said a person familiar with Chinese policymaking, adding that on the metals tariffs: "We are quite prudent".

Last year's growth came in at 6.9 percent but that was supported by a boom in bank lending and real estate sales that regulators are trying to rein in amid concern about debt that has soared to the equivalent of 270 percent of annual economic output - unusually high for a developing country.

Trump said Thursday the USA would slap tariffs on steel and aluminum imports to protect national security, drawing condemnation and threats of retaliation from China to Europe. "We have to reduce the deficit, and that will ultimately put pressure on wages and raise wages", Lighthizer said earlier this week on the Laura Ingraham show, calling it "nonsense" that the administration was preparing to start a trade war with China. "We expect USA major trade partners' reaction to be moderate, including by taking cases to the WTO".

Supporting national security: Consistent with his national security strategy, Trump says his policy agenda recognises that "economic prosperity at home is necessary for American power and influence overseas".

Trump has outlined the policy agenda and the five pillars he says will restore "free, fair and reciprocal" trade.

"Retaliatory steps would be low key". "Other countries, including China, will take relevant retaliatory measures".

The 64-year-old Xi has appointed himself to head bodies that oversee national security, finance, economic reform and other functions, effectively sidelining Li, the party's No. 2 figure.

China to increase 2018 defense budget by 8.1pc
President Trump outlines "aggressive" trade agenda

South Korea's decision a year ago to install a U.S. missile defense system on its territory angered Beijing.

"Damage to the Chinese economy from these new tariffs will be trivial", said Andy Rothman, an investment strategist and China analyst at Matthews International Capital Management, a San Francisco money management firm specializing in Asia.

Beijing could target soybeans to retaliate against any punitive trade action from the us, but it's unlikely to do that just to counter heavy USA tariffs on steel and aluminum, experts said.

Instead, his trip was overshadowed by President Donald Trump's Thursday announcement of new tariffs on steel and aluminum imports.

"By using a national security justification for protection that obviously serves no real national security goal, Trump opens the door for other countries - notably China - to use the same justification to protect their own industries", Kroeber wrote in a note to clients.

Steel producers in Canada, Brazil, Mexico, South Korea and Turkey rely far more heavily on the U.S. market.

The administration assailed China for "undermining true market competition" with state subsidies that encouraged excess production that depressed the price of key goods, including steel. They are full of prejudice discrimination and hostility to China.

Other News

Trending Now

30 feared killed in Burkina Faso terror attack
The city's military headquarters and the embassy - which is also near the prime minister's office - are about one kilometre apart. The US embassy in the capital also tweeted that people should avoid downtown Ouagadougou and "seek secure shelter".

Asus Zenfone 5Z and Zenfone 5 announced with iPhone X-Like notch
The ASUS ZenFone Max is expected to come in variants with different screen sizes, processors, and of course high battery capacity. The Asus Zenfone 5 comes with a full display front panel and the display has a notch at the top just like the iPhone X.

Joseph Yun to Retire as Senior US Diplomat for North Korea
Instead, North Korea must respond to the demands of the global community for it to halt its banned weapons programmes, Wood said. KELEMEN: A career diplomat is filling in as ambassador in South Korea while the Trump administration decides who to nominate.

Russian Federation vetoes United Nations resolution to call out Iran over Yemen
Commenting on a report about sanctions in Yemen, he stressing that the Coalition adheres to all standards and human rights laws. The Security Council on Monday adopted a Russian-drafted resolution on a technical rollover of the Yemen sanctions regime.

Plans suspended to tax Jerusalem church properties
Rabbi Mordechai Persoff said that Trump, like Cyrus, made a "big declaration that Jerusalem is the capital of the holy people". Muslim doorkeeper Wajeeh Nuseibeh stands outside the closed Church of the Holy Sepulcher in Jerusalem's Old City.

With $116 billion cash, Buffett says Berkshire needs 'huge acquisitions'
Buffett also said that the Berkshire Hathaway employees' annual college NCAA tourney pool begins in a couple of weeks. "We're looking for something much bigger than that".

Apple will launch 'the biggest iPhone ever' later this year
The brand may come out of its comfort zone for once as they plan to launch their phones with support for dual SIM cards in 2018. Like the iPhone X, the larger model will include a Face ID scanner that unlocks the device and enables payments.

Kroger, Walmart & Dick's Join Forces to Raise Minimum Age for Gun Purchases
In the wake of the Sandy Hook elementary shooting that killed 26 people, the company removed assault-style rifles from its stores. Parkland students have pressed lawmakers to do more to keep guns out of schools.

LSU scientists 'discover' 1.5 million penguins on Antarctic isles
Adelies are one of five penguin species that live in and around the Antarctic continent. It's locked up in sea ice most of the year, and even in summer it's hard to reach.

National Football League scouting combine: Saquon Barkley is a superstar in workout drills
Gesicki is one of four former Penn State players who are raising money for rare-disease research through the combine bench press . The on-field workouts include the all-important 40-yard dash, timing, positional skill drills and three-cone and shuttle drills.