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Tag Archives: China

Trump Threatens to Cut Off All Trade With China

President Trump Thursday threatened to end the U.S. trading relationship with China in the wake of China’s handling of the coronavirus.

“There are many things we could do,” Trump told Fox Business’ Maria Bartiromo. “We could cut off the whole relationship.”

“Now, if you did, what would happen?” Trump asked. “You’d save $500 billion if you cut off the whole relationship.”

Trump Poised to Propose Letting Taiwan Into the WHO

The U.S. has circulated a draft proposal to give Taiwan “observer status” in the World Health Organization, according to Fox news.

There is no reason other than to appease China that Taiwan is not in the organization, and furthermore, no other reason that Taiwan is an international pariah.

Meantime, the Chinese Community Party is viciously oppressing the Uighurs in Xinjiang Province, not to mention its own Han Chinese. Tibet is long forgotten.

Anyway, nobody cares, as long as they can get trinkets for their Happy Meals or pay $100 less for the iPhone 12.

Video || Trump Signs “Phase One” Trade Deal With China

He is the first president to stand up to modern China’s egregious trade practices, which has included all kinds of cheating, including currency manipulation, use of slave labor, and stealing intellectual property.

This deal begins to address some of that. It also keeps many sanctions on the Chinese until more gets done. Meanwhile, China will buy some $200 billion of U.S. products.

What all those conservatives and business-types who weep about the tariffs ignore is that they are a tool, not an end in themselves. They are a tool that is working against an economy, China’s which is struggling and must back down.

“Oh, tariffs are bad!” they bellow. Well of course tariffs are bad. It’s the result that stems from them that President Trump is looking for.

It’s like saying, “Oh, cutting people is bad!” Yes, it is. Unless you are a surgeon removing a tumor or fix a broken arm.

President Trump said he would get this done. He got it done. Average American workers understand the China peril, even if Washington does not. Trump will get tremendous credit from voters for this.

Trump Trade Deal Gets China to By $200B Worth of U.S. Goods

Well, just in time for the reelection campaign to begin. Looks like he got some concessions from the Chinese. But what he needs in manufacturers and farmers who are hurting to find some buyers on the other side of the Pacific.

According to the Washington Examiner:

President Trump will sign on Wednesday “phase one” of a trade deal with Beijing, giving the president a partial victory on one of the main economic policy efforts of his administration. China is expected to purchase more than $200 billion in U.S. goods and services as part of the deal.

Several issues remain unresolved, however, and getting a follow-up trade deal is uncertain with the 2020 election looming.

Treasury Secretary Steven Mnuchin said Wednesday that finishing the first part would put pressure on China to address the remaining issues in order to get the U.S. tariffs lifted.

The White House has claimed that “phase one” covered many of the trade disputes that originally led the Trump administration and many in Congress to favor a confrontation with China, such as financial services, currency manipulation, intellectual property rights, and forced transfers of technology, among other subjects.

China is expected to purchase between $40-$50 billion in U.S. farm goods. White House economic adviser Larry Kudlow said Wednesday that China would also buy $40 billion in services, $50 billion in energy products, and between $75 billion to $80 billion worth of manufacturing goods.

Pence: NBA a ‘Wholly Owned Subsidiary’ of China

Vice President Pence Thursday assailed the NBC and Nike for their hypocrisy, pretending to stand for social justice — except when it comes to their bottom line, which dictates that they not anger communist China over Hong Kong.

All this is true. How about calling on Americans to reconsider buying products made in China, and to call on businesses to start finding other low-wage countries to make their products?

But that would inconvenience us.

Pence went on to tell the people of Hong Kong, “We stand with you.”

Well, I think that’s a good thing to do. The Chinese should understand that there will be consequences if they crush Hong Kong.

But we also have to be careful about doing what we are so good at, which is to tell people we cannot possibly help that we support them. We cannot provide military aid to Hong Kong. And unless there is a plan to take serious, long-lasting steps against the Chinese if they start murdering protestors, we should not be giving people the impression that we are going to do something for them.

It makes us feel so good about ourselves to say these things, but then it is the people over there who must suffer.

John King: Trump “Deserves a Lot of Credit for Standing Up to China”

CNN’s John King knows. I covered the White House with him from the Clinton administration into the Obama administration, which is about when I think he left the beat. We listened time and time again as administration officials promised to get tough with China, call it out for intellectual property theft, brand it a currency manipulator, etc., etc., etc.

And nobody never did nothing.

Meantime, the United States exported untold numbers of manufacturing jobs to the Peoples’ Republic of China.

Trump deserves a lot of credit, as does King for giving Trump credit while his colleagues in the liberal mainstream media are forced to listen, no doubt aghast.

And as Trump indicated the other day, this is not a convenient thing for him to do. It could cause a recession. But there’s a principle involved – yes, with Trump – and he believes it will benefit the economy in the long term, despite short term pain.

King said:

Look, the President is absolutely right when he says that China has been cheating for 25 years and that Bill Clinton didn’t do enough about it, George W. Bush didn’t do enough about it, Barack Obama didn’t do enough about it, or didn’t want to pick the fights for other reasons, thought there were reasons the U.S. economy is benefiting so much, we won’t pick these fights, start the conversations, not finish the conversations. The president is absolutely right.

Trump’s Tariffs are Working, Causing China Economic Pain

Republican proponents of unlimited free trade don’t like President Trump’s tariffs on China. And Democrats who have long supported tariffs seem to dislike them now because . . . they’re Trump’s tariffs.

Also disliking the China tariffs? China.

For years in Washington I have heard politicians and administration officials talk about the rampant cheating by China, its near-slave labor costs, its theft of American technology, and its manipulation of its exchange rate. All of it cost American workers their jobs while keeping iPhones from being too expensive for America’s elite.

But we were informed that this was the “global system” working with efficiency and we don’t want to upset China because we’re busy ushering it into the global trading system and modernizing it and creating democracy, etc., etc.

Meantime, we need to expand the service sector – you know, more attorneys, and more cashiers to ring up all those cheap Chinese imports that you are going to buy.

Trump finally took some action. And it’s working. China’s economy is suffering, in part because of Trump’s tariffs, and it seems to me they’re going to have to change their behavior.

According to the Wall Street Journal, which is stocked with free traders:

Another blow has come courtesy of Mr. Trump. However much criticized at home, his tariff war is hitting China’s economy hard. Its stock market is around a four-year low, while Beijing’s bluster is offset by repeated overtures to resolve the confrontation. Thanks to China’s $350 billion trade surplus with the U.S., Washington can target a broad range of Chinese goods with tariffs. The damage to American firms from the current trade war may be significant, but China can’t weather a prolonged battle nearly as well.

Politico today reports that the post-tariff economic news is bad:

Business sentiment in both the manufacturing and non-manufacturing sectors was weaker than expected in October, led by sharp declines in export demand, according to the official purchasing managers’ index published on Wednesday by the National Bureau of Statistics and the China Federation of Logistics and Purchasing.

The figures were the first gauges of the trade war’s impact since the U.S. levied 10 percent tariffs on $200 billion worth of Chinese goods in late September.

The manufacturing sentiment index dropped to 50.2 in October, from 50.8 a month earlier. The reading, which was its lowest in more than two years and barely above the 50 point line that separates expansion from contraction in the sector, suggests the possibility of contraction in November as the U.S. tariffs take effect.

That situation could worsen in January, when the tariff on the $200 billion of Chinese imports is set to rise to 25 percent.

Trump is a man of action. And certain principles. One of his principles is that manufacturing is good for America, and its disappearance isn’t inevitable. There are at least in part some specific causes for the decline, and those reside overseas, where there is unfair competition.

That is now, finally, being addressed.

Trump to Bar Chinese Companies from Investing in U.S. Tech Firms

This should have been done a long time ago. But we finally have a president who recognizes that China is out to supplant us as the globe’s leading superpower and that its growing power, driven by a strongman consolidating his position, needs to be confronted.

From the Wall Street Journal:

President Donald Trump, already embroiled in a trade battle with China, plans to ratchet commercial tensions higher by barring many Chinese companies from investing in U.S. technology firms, and by blocking additional technology exports to Beijing, said people familiar with administration plans.

The twin initiatives, set to be announced by the end of the week, are designed to prevent Beijing from moving ahead with plans outlined in its “Made in China 2025” report to become a global leader in 10 broad areas of technology, including information technology, aerospace, electric vehicles and biotechnology.

The Treasury Department is crafting rules that would block firms with at least 25% Chinese ownership from buying companies involved in what the White House calls “industrially significant technology.” The ceiling may end up lower than that, according to people familiar with discussions finalizing the plans.

In addition, the National Security Council and the Commerce Department are putting together plans for “enhanced” export controls, designed to keep such technologies from being shipped to China, said the people familiar with the proposals.

China Backs Down to Trump

For the whole time I’ve been a reporter in Washington, about two decades, the common “wisdom” has been that you have to carefully kiss China’s ass so as not to disturb markets, cause it to “retaliate” through trade or by “calling in our debt,” and so as to turn China into a democracy. Meantime China… Continue Reading

Trump Putting Together Massive China Tariff Package

The Chinese have been stealing our technology and cheating on trade for years, and we do nothing about it because businesses think it’s still worth it and past administrations don’t want to pick a fight. President Trump was elected on a nationalist platform that includes standing up for the United States. We shouldn’t be such… Continue Reading