Publicado: Sáb, Setiembre 15, 2018
Financiera | Por Marilu Caballero

Mix-messages on next round of talks on US-China trade war

Mix-messages on next round of talks on US-China trade war

The Trump administration's tariffs have had a tiny impact on the economy, shaving about 0.1 percent, or $18 billion, off the United States' more than $18 trillion gross domestic product, according to an analysis by the left-leaning Economic Policy Institute.

"I suppose that protectionism has just been accepted and "baked into the cake" for the US vehicle market, and USA consumers aren't even aware that Ford and GM have a "cartel" for the USA truck market that allows them to charge above-market prices and earn above-market profits for trucks", he said. Our markets are surging, theirs are collapsing. We will soon be taking Billions in Tariffs & making products at home.

"At the same time, we do not believe that the current system is flawless and without flaws", he said.

Beijing on Thursday accepted Treasury Secretary Steven T. Mnuchin's invitation to a new round of trade talks before the next tranche of tariffs.

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White House economic adviser Larry Kudlow would not confirm the meeting invitation, but said that communication with Beijing had "picked up a notch". The Chinese government has dismissed the complaints as "groundless".

"I think most of us think it's better to talk than not to talk, and I think the Chinese government is willing to talk", Kudlow said.

Any talks would resume amid doubts over prospects for a diplomatic settlement. A trade war with China would be like throwing a match into a barrel of petrol for the stock market right now. The latest data from polling aggregator RealClearPolitics puts Democrats at a more than 8-point lead in a generic congressional vote for the House. "Who's in charge on the American side and what do they want?"

Trump said there was more pressure on China to make a deal, pointing to their shrinking economy.

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"If nearly a half of American companies anticipate a strong negative impact from the next round of US tariffs, then the USA administration will be hurting the companies it should be helping".

Trump and his advisers have argued that the tariffs are necessary to pressure Beijing to abandon unfair practices.

"China does look to be in a relatively weaker position", McNally said.

It has become tricky to find additional products for duties that won't more obviously impact American consumers, according to two people.

Talk might be cheap, but it is certainly better than another round of multi-billion-dollar tit-for-tat tariffs between the United States and China.

China's stock market slumped to a 31 month low on Wednesday, Sept. 12. -China trade talks and action by Turkey and Russian Federation to support their currencies helped foster a positive mood. Mnuchin has led a recent overture to the Chinese to re-start trade talks. Commerce Secretary Wilbur Ross tried to cut a deal with Chinese leaders last year, but it was rejected by Trump at the last moment, leading to the escalation this year.

As this all unfolds, news comes that the U.S. has asked to restart trade talks with China. But those talks also broke down.

"If China does not make concessions now, it will be bad", he said.

About 30% of firms said they were shifting parts of their supply chains away from China and the United States to buy components from other places.

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