Sunday, 16 December, 2018

China's ambassador to America says the Trump administration is 'very confusing'

Trump threatens fresh round of China tariffs China's ambassador to America says the Trump administration is 'very confusing'
Melinda Barton | 16 October, 2018, 09:00

Top U.S. and Chinese trade officials have held meetings in each Beijing and Washington, DC.

President Donald Trump threatened to impose another round of tariffs on China and warned that Chinese meddling in US politics is a "bigger problem" than Russian involvement in the 2016 election. "They don't know who is the final decision-maker". Of course, presumably the president would take the final decision, but who is playing what role?

China's ambassador to the US, Mr Cui Tiankai, raised similar doubts about the relationship between the world's two largest economic powers.

Pence ramped up the rhetoric in a speech on October 4, saying Beijing has created a "a whole-of-government approach" to sway American public opinion, including spies, tariffs, coercive measures and a propaganda campaign.

His move comes at a time when the U.S. economy has been growing robustly while Chinese growth has slowed, adding to the pressure on Beijing.

Observing that since China joined the WTO in 2001 the USA trade deficit with China has more than quadrupled, Baldwin said that between 2001 and 2008, Chinese competition cost the U.S. 2.4 million manufacturing jobs and has driven down wages for nearly all production workers in the private sector workforce.

At the close of those meetings, finance officials from several countries, including Japan and Brazil, called on the feuding nations to come to a comprehensive agreement on trade issues.

The US president said in an interview that Mr Putin was "probably" involved in poisonings but when pushed further added that "it's not in our country".

Industry experts are predicting that assets from emerging markets will be bouncing back in 2019 as tensions from the trade war between the United States and China are expected to ease.

Experts say that the recent NAFTA deal paves the way for negotiations with China. Politico said this month he was implementing "a clear but ultra high-risk battle plan to smash China".

The escalating trade row was seen as a contributing factor to last week's global market rout that sent the S&P 500 and other major United States indexes to their worst performances in months.

Larry Kudlow, the White House economic director, said on "Fox News Sunday" that President Donald Trump and Chinese President Xi Jinping will "probably meet" at the G-20 summit in Buenos Aires in late November.

Kathy Jones, the chief fixed income strategist at Charles Schwab, said, "any indication that the USA and China are resolving trade differences would likely be good for EM assets", especially Asian stocks. "And there is good mutual understanding and good working relationship between the two". "We have to have reciprocity".