Published: Tue, April 10, 2018
World | By Camille Rivera

Trump confident China will take down trade barriers

Trump confident China will take down trade barriers

President Donald Trump acknowledged Monday that farmers could be adversely affected by the escalating tariff dispute with China, but promised to make it up to them, saying they "will be better off than they ever were". "President Xi spoke in terms of China's own need and commitment for market reform and liberalization, but no doubt he was also sending a signal to the USA government that he wants there to be cooperation and dialogue, not conflict and a trade war".

The new White House economic adviser, Larry Kudlow, said Sunday that a "coalition of the willing" - including Canada, much of Europe and Australia - was being formed to pressure China and that the USA would demand that the World Trade Organization, an arbiter of trade disputes, be stricter on Beijing.

But he also downplayed the tariff threat as "part of the process", suggesting on CNN that the impact would be "benign" and said he was hopeful that China would enter negotiations.

Larry Kudlow, the new director of the National Economic Council, said the tariff threats are part of a negotiating tactic created to pressure China to end unfair trade practices.

"Under the current circumstances, both sides even more can not have talks on these issues", Foreign Ministry spokesman Geng Shuang told reporters at a regular news briefing.

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The United States and China have long criticized each other over trade, but the stakes have grown over the past month.

Beijing did not want to fight a trade war, but was not afraid of one, Vice Commerce Minister Qian Keming told the Boao Forum for Asia in the southern province of Hainan.

In his speech, Xi tried to position China as a defender of free trade, despite its status as the most-closed major economy, in response to Trump's "America first" calls for import restrictions and trade deals that are more favorable to the United States.

China has filed two complaints at the World Trade Organization claiming the United States has violated global trading rules, a charge the White House dismissed.

Chinese President Xi Jinping discussed plans to further open up the Chinese economy during a Tuesday address.

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"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers", Trump said at the time, calling Beijing's reaction "unfair".

Trump hit back again late Thursday, instructing trade officials to consider the additional levies on $100 billion in imports.

President Trump has taken particular aim at what the USA calls unfair Chinese practices that force American companies to transfer technology and that permit cybertheft. "I wouldn't say that's nice, but I tell you our farmers are great patriots", Trump said. "They understand that they're doing this for the country". We want them to stop stealing our stuff. -China relationship, it will also benefit China's economy, according to Brilliant. The grain farmer, who is also a representative for Farmers for Free Trade, an advocacy group, also said Trump's "logic is so far out there". "I personally believe this possibility is very small", Zhang said on Sunday in Boao. The considering tariffs on as much as $150 billion worth of Chinese imports, while China has vowed to respond with levies of its own on everything from U.S. soybeans to planes.

The yuan has been almost unchanged against the dollar over the past month as the trade dispute heated up and has appreciated about 3 percent so far this year.

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