Posted on 09/20/2019 6:14:35 AM PDT by BeauBo
Tariffs on Chinese goods ‘could go to 50 per cent or 100 per cent’, Michael Pillsbury says.
But the American leader is not pursuing ‘cold war 2.0’, and US-China decoupling would be a ‘consequence of no agreement’ by Beijing, he says.
The United States is set to ramp up the pressure on China if a trade deal is not agreed soon, a key White House adviser said...
Described by US President Donald Trump as “the leading authority on China”, Michael Pillsbury said in an interview in Hong Kong on Thursday that Trump had been “remarkably restrained in the pressure he has brought to bear on China in the trade field”.
“Does the president have options to escalate the trade war? Yes, the tariffs can be raised higher. These are low level tariffs that could go to 50 per cent or 100 per cent,” he said, adding that Trump’s critics were wrong to assume the president was “just bluffing” when he threatened an all-out trade war.
“There are other options involving the financial markets, Wall Street, you know, the president has a whole range of options,” he said.
Pillsbury’s profile has risen during Trump’s presidency, with his book – The Hundred-Year Marathon, which advocates a harder line on China – becoming required reading among Washington politicos.
The book claims that Beijing has a century-long plan to usurp the US as the world’s dominant superpower through various tactics, including technology theft...
Pillsbury blamed China for the trade talks in May stalling, when many believed an agreement was imminent...
Some new players got involved in Beijing and next thing we know their reneging took place.”
However, should China go back to the original draft text and use it as a template for talks, “we are headed for a really big success”.
(Excerpt) Read more at scmp.com ...
You guys are going to love this one.
Happy Friday!
China already has 72% tariffs on US pork imports. We should really match them on this number for all Chinese imports.
It is a shame most of the media hates President Trump so much. He is the opposite of how they portray him. His approach to both China and Iran is remarkably statesman-like.
“China already has 72% tariffs on US pork imports. We should really match them”
I thought about including you on the “You guys will love this” ping, but I was not sure how much of a China Hawk you were on tariffs. Next time.
This could just be the “Bad Cop” applying the heat before the upcoming negotiations, but it gets the idea out there among the business community as well. That will just magnify the rush out of China if this round of talks fails to produce a deal, as more will decide to throw in the towel, if they are looking at 50 to 100% tariff levels.
Insurmountable levels.
Those levels are not actually unrealistic, if/when the Chinese currency enters a depreciation spiral.
i don’t know whether to believe this or to disbelieve it.
frankly, i am anxious to see the TRUMP APP released. it’ll contain more FACTUAL information about what Trump’s positions are than ANY given fake news report.
Trump is da man!! Love this guy.
“(President Trump’s) approach to both China and Iran is remarkably statesman-like.”
And sophisticated. He really understands the nature of those regimes, and what levers will work to move them.
Iran won't have an easy alternative for their energy products. The Chinese spied, lied to get to where they are as well as ground through their people. I'm sure their accounting methods are all above border.
China seems to be a big house of cards - this Hong Kong uprising coupled with the tariffs -it's going to be like MCI/Enron on steriods. I wonder if they gonna have rocket man fire off a couple more. They are running out of ideas. In a nation of frustrated only child guys, economic collapse after the death march Deng Xo Ping started them on with GHWB - place is friggin powder keg.
The Chinese people will not be happy going back to plain rice bowls.
Thanks, this topic will return to focus, next month.
I am all for raising tariffs much higher.
Really do not understand, why we are waiting.
There's always fish to substitute if they don't mind the plastic.
“do not understand, why we are waiting.”
Some things will break, if the moves are too massive and sudden (like stock markets, exchange rates, product and component shortages, inflation, bankruptcies). It is a measured and managed transition - but very rapid by historical standards.
“do not understand, why we are waiting.”
I anticipate that the tariffs will go up again. They may shift the schedule a bit due to current conditions (economic and political), but it seems to me that there is an underlying steady quarterly rollout, that would get us to about 25% across the board in January, all other things remaining equal.
A big wild card in my book however, is if the Chinese currency starts to depreciate significantly. That is when I could see the tariffs adjusting quickly to offset the change in exchange rates, to get into the 50-100% range.
In that scenario, China’s foreign reserves might hit the skids, and a real serious meltdown could happen there. Such a meltdown in China would be a big drag on Global demand, which might be something for which planners would want to carefully consider the timing.
China can’t take the long term loss they are feeling the heat being in the red.
No pun intended
Drive the commies into the dirt ! They murder enslave and torture their own people. Screw them
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