China Won’t Make Big Concessions on Trade Deal, Ex-Minister Says

US Trade Representative Robert Lighthizer
US Trade Representative Robert Lighthizer
Author

07 March, 2019

Economists said activity from cash-fluid businesses and consumers helped increase the buying of imports while the overvalued dollar weighed on exports.

Robert Scott, senior economist at the left-leaning Economic Policy Institute, said Trump's failure to tackle what he sees as a global misalignment in currencies that requires a depreciation of the dollar has been the main cause of a rising trade deficit. "That would create new opportunities for American firms and American workers".

But the trade war is also hitting business operations at home in the United States, as well as the American consumer.

The overall trade deficit has grown by $119 billion in the two years since Trump took office.

U.S. Agriculture Secretary Sonny Perdue said this week that U.S. trade negotiators had asked China to reduce tariffs on U.S. ethanol, but it was not immediately clear whether Beijing was willing to oblige.

December's trade imbalance worsened because USA imports rose 2.1%, while exports to other countries fell 1.9%. "Unacceptable. We are going to start whittling that down and as fast as possible". When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so.

"I'm never afraid to walk from a deal, and I would do that with China , too, if it didn't work out", the president said. The President often boasts about how much money the United States government is reaping from tariffs.

Virat Kohli: India captain hits century before Australia collapse to defeat
Pat Cummins was the chief destructor for Australia with four wickets under his belt while conceding only 29 runs in nine overs. India now have a 2-0 lead in the five-match series. "We might get these low-scoring games in the World Cup as well".


North Korea Leader Kim Says Ready To Denuclearise
He secured Trump's support for the opening of a liaison office in Pyongyang, without offering any concessions of his own. Trump added that he still believes the country still has "huge potential" and he'd like to "keep the relationship".


Man Utd 0-0 Liverpool: Firmino injury a 'catastrophe,' says Klopp
In what was an expected adjustment , David de Gea returns between the sticks for Manchester United , replacing Sergio Romero. Solskjaer's United take on Liverpool on Sunday night in a game that could have massive implications on the title race.


Trump's team is asking China to give up its right to retaliate should the USA take action unilaterally.

That was offset by the gains from protectionism derived by US producers benefiting from the tariffs, the economists found.

The strength of the USA dollar has also not been helpful to the administration's aims, as it makes imports relatively cheaper while increasing the price of US products to the rest of the world.

Weinstein said the President appears to be relying on a 2018 analysis of data from the 1990s, when the USA represented a larger share of the global economy and enjoyed more leverage over exporters in other countries.

The trade tariff war that has been hitting the global economy is showing signs of coming to an end through the bilateral trade agreement between the two countries.

Still, the biggest takeaway from the new trade data is not that the tariffs predictably failed to do what Trump thought they would; it's that the USA economy is powered by the individual decisions of millions of people and businesses, and that entity is far too complex and powerful to be controlled by the White House. "It's pretty unclear that this trade war is a net win for the economy at this point". If the tariffs led to the creation of 35,000 new manufacturing jobs - equal to all the steel and aluminum jobs lost in the past decade - they would cost US$195,000 per job, the study found.


More news


  • Lukaku shines as Manchester United rally to beat Southampton

    Lukaku shines as Manchester United rally to beat Southampton

    Predicting a Pep Guardiola line-up is notoriously tricky but I suspect Sterling will play and he'll probably score . It was an open game and they came here to beat us. "Paul wants to take, that for me is fantastic".
    Kim boards train to Vietnam

    Kim boards train to Vietnam

    Travel by train has been a favorite mode of transport for Kim Jong Un, and his father, Kim Jong Il, and grandfather, Kim Il Sung. They are expected to focus on what steps North Korea might take towards denuclearisation, in exchange for what USA concession.
    Petra Kvitova, Simona Halep advance at Dubai Championships

    Petra Kvitova, Simona Halep advance at Dubai Championships

    Final set, I did little bit more. "I just need to try to play my game and be happy on the court, be positive", Hsieh said. American Sofia Kenin , victor of last month's Hobart title, defeated Russian 11th seed Daria Kasatkina 6-3, 2-6, 6-4.
  • See how Heisman Trophy victor  Kyler Murray measured in at National Football League  combine

    See how Heisman Trophy victor Kyler Murray measured in at National Football League combine

    Those are great numbers for him considering many were anxious he was going to check in closer to 5-foot-9 or even under. Murray has been projected to be a top-10 pick by some, but the question has always been about his size.
    Police issue warning to parents after

    Police issue warning to parents after "Momo challenge" resurfaces

    WHAT ALL PARENTS NEED TO KNOW: The disturbing viral "challenge" pops up on YouTube videos encouraging them to harm... The sick and twisted "game" features a series of challenges that end by daring the children to take their own lives.
    Samsung releases the first hands on footage of its new folding phone

    Samsung releases the first hands on footage of its new folding phone

    Hot on the heels of the reveal of Samsung's Galaxy Fold , Huawei announced its foldable display smartphone, the Mate X . It folds outwards into an 11mm thick handset with a 6.6-inch main display and a 6.4-inch secondary screen.
  • Democrats in U.S. Congress Take Aim at Trump With Multiple Probes

    Democrats in U.S. Congress Take Aim at Trump With Multiple Probes

    Cohen repeatedly testified that he did not seek employment in the White House following President Trump's election", they wrote . Altogether, he has pleaded guilty to nine felonies, including tax evasion and campaign finance violations.
    Five Bodies Found in Apartment, Pennsylvania Mother and Daughter Arrested

    Five Bodies Found in Apartment, Pennsylvania Mother and Daughter Arrested

    A mother and daughter are in custody accused of murdering five of their family members in Pennsylvania . Shana Decree , 45, was arrested and arraigned on murder charges early February 26, reported ABC 6 .
    Three MPs quit United Kingdom  governing party over Brexit

    Three MPs quit United Kingdom governing party over Brexit

    During those years, the Labour Party and the Liberal Party were vying to become the main opponent to the Conservatives. The Bracknell MP quit the Government over Brexit and has been the subject of speculation about his future.
  • Trudeau no longer insisting Liberals didn't pressure Wilson-Raybould

    Trudeau no longer insisting Liberals didn't pressure Wilson-Raybould

    You can bet Trudeau will now order all of his remaining cabinet ministers to offer their public support and confidence in him. January 14, 2019 - Trudeau shuffles his cabinet after the resignation of Treasury Board president Scott Brison.

    Janice Freeman Of ‘The Voice’ Dies At 33

    In a tribute on Instagram , " The Voice " coach Jennifer Hudson praised Freeman's talent and called her an "inspiration". She grew close to the former Disney star, and the pair remained friends after the was eliminated from the competition.
    White House Calls Michael Cohen Liar Ahead of Testimony

    White House Calls Michael Cohen Liar Ahead of Testimony

    Trump's former lawyer has closed-door meetings scheduled on Tuesday and Thursday with the congressional intelligence committees. Michael Cohen won't be anyone's legal representative for a while, and not just because of his upcoming prison sentence.