China hits out at 'bullying' U.S. over new tariffs

Monday, 26 Aug, 2019

The president told reporters outside the White House Friday the "tariffs are very good for us" and are a necessary tool in making China trade fairly with the U.S. The president also "hereby ordered" U.S. companies to seek alternatives to doing business in China in a tweet Friday.

"I think what he was saying is he's ordering companies to start looking because he wants to make sure - to the extent we are in an extended trade war - that companies don't have these issues and move out of China", Mnuchin told Fox news in an interview.

"We are having very good meetings", Trump tweeted.

Behind the tirade was the growing reality that the type of trade war Mr. Trump once called "easy to win" is proving to be more hard and economically damaging than the president envisioned.

"They're really anxious", said Chang of China's political leadership, "and they should be, because President Trump today showed that he has as much political will - or maybe even more political will - than the Chinese do".

Vladeck's sentiment was echoed by Harvard Law professor Jack Goldsmith, who placed the blame squarely on Congress for enacting a statute giving the President such broad and unchecked authority.

"Previous administrations, and we've had four decades of [thinking that] it was important to integrate China into the worldwide system, and so they've been pretty indulgent", stated Chang.

Asked about Trump's tweet on Friday, musing on whether Fed Chairman Jerome Powell or Chinese President Xi Jinping was the bigger enemy, Mnuchin said, "On Powell, I don't think it was a literal comment that he's an enemy".

In advance of their meeting, Johnson warned Trump that his trade war was "not the way to proceed", and risked pushing the global economy into a downturn.

Earlier this year, the White House said Trump might cite the act to impose tariffs on Mexican exports in response to illegal immigration into the U.S.

Speaking for the US business community, Mr Myron Brilliant, executive vice-president and head of global affairs at the US Chamber of Commerce, said that despite some concerns, the 40-year old trade relationship between the US and China has been for the most part "productive, constructive, and mutually beneficial". "We're not going to lose close to a trillion dollars a year to China". It permits the president to block transactions and freeze assets in the events of an "unusual and extraordinary threat.to the national security, foreign policy, or economy of the United States".

Beijing views the current status of trade and relations with the U.S.as temporary - in either two or six years Trump will leave the White House, and Beijing can then work with a new USA president and administration on mending and restoring trade ties.

Retailers said the president's actions were inflicting pain on American businesses and the economy. "These added tariffs will ratchet up consumer prices, stall business investment, escalate uncertainty and cost American jobs".

China was the largest goods supplier to the United States in 2018, with good imports totaling $539.5 billion past year, according to the Office of the United States Trade Representative.

The U.S.is "starting to lose China", Hu said Saturday on Twitter.