Published: Tue, May 21, 2019
Global Media | By Garry Long

In Trump's Trade War, Americans Will Be Asked To Show Economic Patriotism

In Trump's Trade War, Americans Will Be Asked To Show Economic Patriotism

China struck a more aggressive tone in its trade war with the United States on Friday, suggesting a resumption of talks between the world's two largest economies would be meaningless unless Washington changed course.

Investors added up the costs of higher tariffs on Chinese and USA goods as well as the effects of severe US restrictions on China's Huawei Technologies for the US technology sector, sharply driving down shares of suppliers Qualcomm, Micron Technology and Broadcom Inc.

"We can't see the United States has any substantial sincerity in pushing forward the talks. Conversely, methods of extreme pressure are spreading", the post added.

"If the U.S. ignores the will of the Chinese people, then it probably won't get an effective response from the Chinese side", it added.

The blog reiterated China's three main concerns for a deal are tariff removal, achievable purchase plans and a balanced agreement text, as first revealed by Vice Premier Liu He. "They'd much rather deal with someone like that". "I'm a free trade guy", says Best, who manages a heating and air conditioning company in Kennesaw, Ga. We have to eliminate them and return to trade based on market signals.

Tractor and engine maker Caterpillar said the Trump administration's steel tariffs had cost it more than $100 million in 2018, and that it expected to pay twice that much this year. The Ministry of Commerce spokesman said Thursday he had no information about any USA officials coming to Beijing for further talks.

Kirk Leeds, chief executive officer of the Iowa Soybean Association, said the association and its producer-members are "extremely concerned" about the rumors circulating that trade talks with China are crumbling.

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According to Zhou, the commerce ministry spokesman on Thursday effectively ruled out talks in the near term.

Brown and fellow Democrats, as well as Portman and other Republicans looking out for the good of the country and not just their party, also should advance the argument that now is the time for the USA government to step up investment in higher education and research and development, so we can maintain an edge in aerospace, robotics and other technology-driven industries.

Agriculture Secretary Sonny Purdue said Wednesday night that he is putting together a second round of financial assistance for farmers and ranchers hit by President Trump's trade war with China. "If the USA ignores the will of the Chinese people, then it probably won't get an effective response from the Chinese side", according to a commentary carried by state-run Xinhua News Agency and the People's Daily, the Communist Party's mouthpiece.

In a stridently nationalistic commentary, the ruling party's official newspaper described China's determination to protect its national interests and dignity as being as "firm as a boulder".

On a similar note, recently, China's yuan slumped to 2019 low since trade war escalated. The higher Chinese tariffs don't kick in until June 1. And given the bipartisan and elite hardening of views in Washington that sees China as a threat and strategic competitor, any deal is likely to be temporary.

President Barack Obama at a 2009 meeting of the US-China Strategic and Economic Dialogue called for a new era of cooperation between the US and China on issues including the recovery from the 2008 economic crisis, renewable energy, and the proliferation of nuclear weapons.

Said Budde: "Trump knows that the Huawei issue is, perhaps, one of the most important issues for the Chinese Government". "They are involved in cyber-espionage against the United States".

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