| Blogs > 1ClassyLady > U r responsible for ur life |
|
US - China trade war After alienating allies with tariffs, Donald Trump is entering China trade talks ‘unprotected and alone’ ‘This is really the US going it alone,’ said a former adviser to George W Bush. ‘By assaulting all our allies, we leave ourselves standing unprotected and by ourselves in a way we really never have been’ The Trump administration’s decision to impose tariffs on products from its top allies could weaken the hand of US Commerce Secretary Wilbur Ross as he travels to Beijing to try to fend off a trade war with China. That, at least, is the view of many long-time trade analysts and China watchers. “This is really the US going it alone,” said Philip Levy, senior fellow at the Chicago Council on Global Affairs who was a trade adviser in the George W Bush administration. “By assaulting all our allies, we leave ourselves standing unprotected and by ourselves in a way we really never have been.” This means war: Canada and Mexico retaliate against Trump’s tariffs Wendy Cutler, a former US trade negotiator who is now vice-president at the Asia Society Policy Institute, framed it similarly: “We are alienating all of our friends and partners at a time when we could really use their support." After briefing reporters on the administration’s decision to affix tariffs on imported steel and aluminium from Canada, Mexico and the European Union, Ross left for Beijing for negotiations aimed at resolving a dispute over China’s aggressive efforts to challenge US technological supremacy. Trade analysts say that US President Donald Trump and his team should be enlisting their allies to present a united front to China. After all, US friends like Japan and the EU share many of the same gripes about China. They decry rampant theft of intellectual property and Chinese overproduction, which has flooded world markets with cheap steel and aluminum. War inside Trump trade team triggers global angst US Trade Representative Robert Lighthizer joined with EU trade commissioner Cecilia Malmstrom and Japan’s economics minister, Hiroshige Seko, in issuing a vague statement from Paris on Thursday that urged unidentified countries to do more to protect intellectual property and to reduce overcapacity. But the US undermined the alliance on Thursday by instituting the tariffs of 25 % on steel and 10 % on aluminum. Canada, Mexico and the EU all vowed to retaliate by penalizing American products. Canadian Prime Minister Justin Trudeau, noting that Canadians and Americans have been allies for 150 years and fought and died together in the second world war and in Afghanistan, chided the Trump team. “Americans remain our partners, friends and allies,” Trudeau said, before imposing C$16.6 billion ($12.8 billion) of tariffs on American-produced products. “This is not about the American people. We have to believe that at some point their common sense will prevail. But we see no sign of that in this action today by the US administration.” China to halve import tariffs on 1,500 consumer products from July 1 Europe has also been sent reeling by Trump’s actions. European Commission President Jean-Claude Juncker said on Thursday that “each time I think of Trump, I am lost”, while Malmstrom said Friday that the tariffs would further harm transatlantic ties. “The Europeans and Canadians are on their own when it comes to the US, at least until the next election,” said Judy Dempsey, editor in chief of Strategic Europe, the blog of the Carnegie Europe think tank. “The Europeans are competitors for Trump in trade, on values and human rights. With the authoritarian regimes he does not face that and he seems much more comfortable with the Russians, with North Korea, with the Chinese,” she added. Europe has moved ahead with a slew of retaliatory measures on US products – it previously identified bourbon, a mainstay of Senate Majority Leader Mitch McConnell’s home state of Kentucky, and cranberries, which are grown in House Speaker Paul Ryan’s native Wisconsin as possible targets – and has said it will file a complaint with the World Trade Organization. Mexico has announced its own tariffs on US products, including grapes and pork belly. Now, as its former allies distance themselves, the US is turning to China and to a stand-off that has taken some confusing turns. Bourbon, blue jeans and steel: here’s how the EU will fight US trade war Canada warns it will ‘respond appropriately’ if US steel tariffs take effect The guide to hot-and-cold US-China trade relations US threat of tariffs on Chinese imports ‘just a negotiating tactic’ Honesty is the best policy. |
|||
|
With a little patience and confidence on Boeing, today Boeing reached the same price of 52 week high of $371.60 that set on Feb 28 this year. Yes, I trust Boeing company - the best manufacturer and top #1 export company for USA. I am holding this stock with confidence. How sweet it is when I held the right stock. BTW, I also have had lots of Twitter shares that will enter to S&P 500 on June 7th. Trump likes to tweet many times a day and he got lots of followers. Of course, this stock will go up. I won big on Twitter every time. Honesty is the best policy.
| ||
|
It looks to me that the "trade war" storm is approaching soon. Everything you eat, drink, wear, hi-tech computers, smartphones, automobiles, airplanes, ... prices will go higher due to the tariffs increased. The inflation is coming and eventually recession. The stock market will plunge. Trump wants "American first", Trudeau wants "Canada first", Europe wants "Europe first', Xi wants "China first", .... so nobody wants "global free trade". Every country raised tariffs on everything. No import, no export. Because the "trade deficit" between U.S. and China is astronomically higher each year, Trump wants to punish China. Trump originally thought China is the #1 steel importer. He criticized China dump cheap steel to U.S. Nevertheless, Canada is the #1 steel importer that has 16 % comparing with China only 2 %. Trump in order to save face and fulfill his campaign promises, he goes ahead to impose tariffs on steel 25 % and aluminum 10 %. Trump ranted about China's "infringement of intellectual property right" (侵犯智慧財產權) on U.S. hi-tech products. Yes, China is notorious about "patent rights" (專利權). China is a "copycat" (抄襲者), they don't respect the first inventor. They only want to copy and make the product cheaper. We all know that. They don't know in Western world the patent rights are very important for the inventor. I am a pharmacist for most of my adult life, so I know "brand name" drugs have had the "patent rights" for many years before the "generic name" come. It is about the "patent concept" (產權觀念). I am an Asian but have lived in U.S. (38 yrs) longer than in Asia. I respect "patent rights", "copyrights". Chinese shouldn't violate this rule - pay for royalty (專利權稅). This is about EDUCATION. However, Trump's "American first" is not gonna work. Why?? Because if every country doesn't want to buy other country's products, there will have no "trading". As I said I own Boeing stock because it is a great company that makes airplanes and it is the most valuable company for U.S. If trade war starts, the farmers will be impact first, then automakers and Boeing. It influences every product we have made. It is complicated than Trump thought. BTW, June 12 is coming soon, will Trump and Kim meet in Singapore?? I heard that North Korea can't afford the hotel room for couple nights. So poor. But Kim had fired missiles so many times. Go figure!! Honesty is the best policy.
| ||
|
I don't like three of Trump top advisors: 1) U.S. Commerce Secretary, Wilbur Ross who's tone of voice is very slow and weak. 2) U.S. Treasury Secretary, Steven Mnuchin who just married his 3rd wife in 2017, Trump attended their wedding. 3) Peter Navarro who is an American heterodox economist, who currently serves as the Assistant to the President, Director of Trade and Industrial Policy, and the Director of the White House National Trade. Wall Street don't like Peter Navarro either according to C-NBC. Honesty is the best policy.
|
