Politics Trump suggests a trade war with China could still happen

By


President Donald Trump told Reuters in an interview Wednesday that recent trade actions by the US against China hopefully do not start a trade war but "if there is, there is."
Trump also said that the US is planning a large fine against China for recent changes in their intellectual property rules.
Economists have long been fearful of Trump triggering a trade war, and warn it could be terrible for the US economy.

 President Donald Trump doesn't want to trigger a trade war with China, but isn't afraid if one happens.

 During an interview with Reuters on Wednesday, Trump was asked if the moves by the US including actions against Chinese trade of steel, aluminum, and solar panels could lead to a trade war. Trump said he wants to avoid it but could not guarantee none would occur.

 "I don't think so, I hope not," Trump said. "But if there is, there is."

 Trump, along with his top economic advisor Gary Cohn who was present for the interview, said the administration is planning retaliatory action against China for a change in their policies that forced companies to transfer IP to the country.

 According to Trump, the US will soon impose "a very big intellectual property potential fine" against the Chinese.

 "We're talking about big damages," the president told Reuters. "We're talking about numbers that you haven't even thought about."

 Since the start of his campaign, Trump targeted China in particular when discussing his more protectionist trade views. Despite a softening of tone toward China during Trump's first year, economists are still concerned about possible trade inhibiting policies.

 Triggering a trade war has long been the top concern among economists regarding Trump's economic agenda. Most experts believe sharply instead trade protections or tariffs as the result of a trade war would cause serious economic damage to the US and possibly push the country into a recession.

 In the first 11 months of 2017, which represents the most recent data available, China was the top trade partner with the US. The country accounted for 16.3% of all US trade in that timeframe according to the Census Bureau.

Comments

Post a Comment

Popular posts from this blog

 2face Idibia pays condolence visit to his state, Benue, over the recent herdsmen killings

By
Image
Legendary singer, 2face Idibia, yesterday January 17th, paid a condolence visit to his state governor, Samuel Ortom of Benue state, over the recent herdsmen killings in the state. Last Thursday January 11th, 75 persons that were killed during an attack by suspected herdsmen, were given a mass burial. 2face was received at the state government house by the governor and members of his cabinet. See more photos below
Read more

Actor Yul Edochie Shows Off His Mum, Pens Lovely Message To Her

By
Image
Nollywood actor, Yul Edochie took to social media to share these adorable pictures with his mother and penned a lovely message to her. His mum, Josephine Edochie is also the wife of veteran actor, Pete Edochie. The politician shared the picture on his Instagram page and wrote; Thank you mum! What would I have been without you? Thank you so much mum! Ozo Eze Dike 1 of Nteje! King and Great man of Nteje. All thanks to God Almighty, to my parents, my mum, my family, my brothers and sister, to my fans and friends, to my campaign team and well wishers. Thank you Uncle I.k Edochie. Special thanks to my brother @okonkwoemeka_k Chiejina Onye rika Nne, Engr Chike Ubboe, Emeka Bakassi, Obez and Tudor. Thank you all. God bless you. If you love me please say a prayer for my mum and wish her well. Words cannot express how I feel. Thank you mum. From my birth you always told everyone that I am a special child. And taught me to fear no one but God. You taught me that there
Read more

Nollywood Actor, RMD For President? Alexx Ekubo Shower Praises On The Veteran Actor

By
Image
RMD and Alexx Ekubo Popular Nollywood actor, Alexx Ekubo, who recently worked with legendary actor, Richard Mofe-Damijo (RMD), has taken to his Instagram page to write an ‘epistle’ about his respect for the screen star. Read his full post below: ************ "At times like this i feel like my career has come full cycle, just standing beside 34 years of Film & Tv experience & being able to inhale the same production air with Richard Mofe Damijo, a whooooooole RMD, i watched him as a kid, as a teenager, as a young adult, & now i’m blessed to share screen time with him in our new project ZERO HOUR, just look at God! what i adore the most about him besides his Calm demeanor, is his willingness to share knowledge & creative idea. i remember meeting him for the first time a while ago, he looked at me & said “Alexx how na? i legit called my mum afterwards & told her i’ve made it as an Actor, RMD knows me. "Dear Uncle R, have i told you how muc
Read more