Posted on 03/04/2018 8:45:40 AM PST by Mariner
China does not want a trade war with the United States but will defend its interests, a senior Chinese diplomat said on Sunday, after U.S. President Donald Trump announced a plan to put tariffs on steel and aluminium imports.
Trump struck a defiant tone on Friday, saying trade wars were good and easy to win, a day after he said he intended to put duties of 25 percent on steel imports and 10 percent on aluminium products.
Trade tensions between the world's two largest economies have risen since Trump took office in 2017, and although China only accounts for a small fraction of U.S. steel imports, its massive industry expansion has helped produce a global glut of steel that has driven down prices.
Negotiations and mutual opening of markets were the best ways to resolve trade frictions, Chinese Vice Foreign Minister Zhang Yesui said at a briefing ahead of China's annual session of parliament, which opens this week.
"China does not want to fight a trade war with the United States, but we absolutely will not sit by and watch as China's interests are damaged," Zhang, who is a spokesman for parliament and was formerly an ambassador to the United States, said.
"If policies are made on the basis of mistaken judgements or assumptions, it will damage bilateral relations and bring about consequences that neither country wants to see," he said.
(Excerpt) Read more at cnbc.com ...
I completely agree with you and thank you for pointing out all of the other incredibly important points about why what we are doing with China in no way represents “free trade”.
It was always a political goal and not an economic one.
From the standpoint of market economics, and level playing field trade, it was so absurdly lopsided that only a moron couldn’t see it.
But we don’t have a moron in the WH anymore, unlike the previous 4 occupants.
They own the steel companies in Canada, and also ship their steel to Brazil, Mexico and South Korea for trans-shipment to the US.
Yes, anyone who believes we only get 2% of our steel imports from China is not paying attention.
Well said.
And here’s the funny part. Canada and the EU have imposed huge tariffs on Chinese steel themselves! And they are preaching to us? Screw them.
President Xi: “Economically speaking, China is a Lover, not a Fighter!”//
China produces 75% of the steel in the world and their current capacity is 100%.
They continue to add capacity through government investment.
It’s apparent that China intends to be the only steel manufacturer in the world, putting every other country out of the business.
As a national policy.
Exactly right. China’s global ambitions make it a real strategic threat to the US. Yet, all we hear is Russia Russia Russia. China has been stealing our lunch right from under our nose.
You are 100% correct.
Got into it on another thread where I stated that if we ever got into another “Proper” war-like WW2, we’d be in for it as we do not have the capacity to manufacture materials for any war effort.
He indicated that we would be able to “ramp up” production to meet demands.
Here is a PARTIAL list of the mines closed in the UP of Michigan and Mn. The largest producer of Iron ore in the world at one time. They produced 95% of the ore for the war effort in WW2
Iron River Michigan?-nope shut down.
Crystal Falls Michigan?-Shut down
Iron Mountain Michigan? Nope
Mather mine in Negaunee Michigan-nope
Ishpeming? nope
Iron River?-nope.
The Humbolt mine in Republic Mich? Nope.
Hibbing Mnn? Nope two of the three there are shut down.
Copper mines in the copper country of the UP? Nope..done, shut down.
The tilden and empire mines in Marquette Mich? Nope..they managed to shut that one half down saving a little less of 50% of the production there. That mine’s’ was combined in the later years.
It takes years to start up those mines as most of the equipment is demolished after shutdown-that stuff cant stay idle and then simply started back up, after a time, by the flip of a switch.
Excellent post, friend. All true. And absolutely frightening.
So it doesnt show that it coming from China.
Nobody is against trade that I know of. What we are against is “FREE” trade. We are for “FAIR” trade. A dollar sent allows for a dollar to come in. And Tariffs are the way to make commerce REGULAR. James Madison in one of his speeches even stated that of all the taxes, excises was the least abhorrent.
Exactly. The “free trade” choirboys at NRO don’t have to live with the consequences of their globalist sellout policies. It’s all numbers and stats. Abstract theory. Even though real lives are being affected.
Of course they don’t want a trade war. Duh 101.
Real war?
Much worse. Population wise.
Certainly. The larger the statistical base, the larger the sample. Communism killed over twice the number of people in China than the USSR because the same omelette was cooked in a larger population of eggs.
Not true. China's top trading partner is the EU. 2nd is the U.S. They have healthy trade with Hong Kong, Japan and South Korea and the rest of the world.
Buried in your exaggeration is a valid point -- that China does want and need our business. :-)
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