Free Republic

Beijing’s latest missive on trade issues struck a newly measured tone, despite accusing Washington of scuttling negotiations. After weeks of escalating trade tensions with the U.S., China modulated its rhetoric, suggesting negotiations remain a priority and laying out conditions for doing so. A government policy paper on trade issues with the U.S. released Sunday accused Washington of scuttling the negotiations, which broke down in all but name last month. It said the Trump administration’s “America First” program and use of tariffs are harming the global economy and that China wouldn’t shy away from a trade war if need be.

...Mexican Foreign Minister Marcelo Ebrard arrived at the Mexican embassy on Saturday and is scheduled to meet with Secretary of State Mike Pompeo on Wednesday, Ebrard announced on Twitter. Ebrard, a former Mexico City mayor who has served as foreign secretary since December 2018, has been open in his disdain for Trump in the past. ... Now, Ebrard is in the position of leading negotiations with the Trump administration over the tariffs Trump slapped on his country.

The Chinese government said in a white paper issued on Sunday that the US government “should bear the sole and entire responsibility” for the stalled trade talks between the two countries, hitting back at allegations that Beijing had backtracked from its earlier promises to cause a collapse in negotiations. Wang Shouwen, Vice Commerce Minister and China’s international trade negotiator, said at a press conference in Beijing that the US is “irresponsible” in alleging that China had backtracked its earlier promises.

Mexican president hints at migration concessions

Republican Sen. Martha McSally broke with President Donald Trump on Friday over his threat to hit all Mexican imports with steep tariffs. In doing so, McSally finds herself aligned with her potential Democratic challenger, Mark Kelly.

Our patience has been rewarded because the solution to the border crisis that we’ve been waiting for has finally arrived.Despite all of the obstruction and dismissal by the Democrats of the worst humanitarian crisis to ever hit our border, Donald Trump has found perhaps the most effective way to solve this crisis.The madness at the border will end. The flood of human traffickers, drug smugglers, and gang members will be stopped. The mockery that these criminal invaders have made of our immigration laws and our generous asylum system will be rectified.And Mexico is going to step up and help...

Senate Finance Committee Chairman Chuck Grassley (R-Iowa) condemned President Trump's new tariffs on Mexico late Thursday, calling the move a "misuse" of presidential tariff authority and cautioning the levies could derail passage of the United States-Mexico-Canada Agreement (USMCA). "Trade policy and border security are separate issues. This is a misuse of presidential tariff authority and counter to congressional intent," Grassley said in a statement. The lawmaker cautioned that following through on Trump's tariff threat "would seriously jeopardize passage of USMCA," a revision of the North American Free Trade Agreement (NAFTA). "I support nearly every one of President Trump’s immigration policies,...

... Only months ago Mr. Trump signed a new trade pact with Mexico and Canada to replace Nafta. The deal reassured financial markets. But now he whacks Mexico with unilateral tariffs that violate Nafta and World Trade Organization (WTO) rules. Other national leaders can be forgiven for concluding that any trade deal with Mr. Trump is subject to revision on his personal political whim. The tariffs could also complicate passage of the new U.S.-Mexico-Canada deal in Congress. Mr. Trump is invoking a 1977 statute—the International Emergency Economic Powers Act—to impose the tariffs after declaring an emergency. The Congressional Research Service...

Mexican President Andrés Manuel López Obrador dispatched his foreign relations secretary to Washington on Friday, as the country scrambles to negotiate a solution with the United States following President Trump’s surprise move this week to slap tariffs on Mexico in the hopes it would remedy the illegal immigration surge at the U.S.-Mexico border.

Stocks and bond yields around the world fell Friday after President Trump threatened to impose escalating tariffs on Mexico, capping a brutal month for markets as rising trade tensions roiled investor confidence. The threat pushed stock markets down as investors feared applying tariffs on Mexican products could hurt corporate earnings, increase prices for U.S. consumers and crimp economic growth. The Dow Jones Industrial Average fell more than 300 points, while the Nasdaq Composite Index and S&P 500 both fell more than 1%. As investors sold stocks, they moved to government bonds, gold and the Japanese yen, all assets typically perceived...

Experts are warning America has become too dependent on China for its medicine -- everything from painkillers, to antibiotics, and even aspirin can all be sourced back to a country the Department of Defense considers an adversary. The Food and Drug Administration estimates that at least 80 percent of the active ingredients found in all of America's medicines come from abroad – primarily China. "Imagine if China turned off that spigot," said Rosemary Gibson, author of "China RX: The Risks of America's Dependence on China for Medicine." "China's aim is to become the global pharmacy to the world -- it...

It hasn’t been China that has been the source of sudden escalation; nor Iran; nor North Korea; nor Turkey, who admittedly gave it a good go in announcing they may install Russian S-400 anti-aircraft missiles in the area of the Mediterranean they are looking for energy in despite protests from the EU’s Cyprus it’s their naval territory; nor even Italy, where Deputy PM Salvini is threatening new elections that would very likely strengthen his hand further has he prepares for battle with Brussels. No, it was Mexico. (Or rather US President Trump, which is less of a surprise.) Don’t get...

The surprise announcement by President Donald Trump of an escalating tariff regime against Mexico sent ripples through almost every economic sector in the U.S., hammering American companies that sell automobiles or run railroads, grow vegetables or build power infrastructure. Trump tweeted late Thursday that he is slapping a 5% tariff on all Mexican imports, effective June 10, and will raise those tariffs to 25%, “until the Illegal Immigration problem is remedied.” Whether it’s avocados on a taco or a new Chevrolet Blazer SUV in the driveway, if the tariffs go into effect, Americans could feel it. The companies that produce...

<p>WASHINGTON – The president of Mexico says he wants to avoid a confrontation with the United States, but had harsh words about President Donald Trump's plan to impose tariffs on Mexican goods to pressure the nation to stem the flow of Central American migrants.</p>

I keep reading where the Chinese are flaying us in trade. Balance of trade deficits keep going up, and the Chicken Littles scream that the sky is falling. Seems to me balance-of-trade worries are misplaced. Supposedly, we got equal value for what we spent; it's just easier to quantify the dollars we put up than the goods they put up. Example: Who got more out of the deal when you bought your car? All you got was a car, but the dealer got, say, $40K. Is your balance of trade with the dealer out of whack? Not at all. He...

“We are now entering into a period of great power rivalry. The outcome is unclear, but it is critical that we stabilize the system.” That was the warning on Thursday from Singapore’s Heng Swee Keat, the man set to be the city-state’s next prime minister. China’s rapid ascent over the past decade, he said, has caused a clear shift in global politics, and those changes need to be addressed. The Singaporean deputy prime minister’s sentiment was echoed by other political figures and experts gathered in Tokyo for a conference on the future of the region. At the event, which was...

Just hours after President Trump announced he will be imposing 5% tariffs on Mexican imports over illegal immigration, Mexico’s president Lopez Obrador sent Trump a letter begging for a meeting to work toward a solution. “Mexico’s President Lopez Obrador asks Trump to have U.S. officials meet with the Mexican foreign minister in Washington on Friday to seek a solution that benefits both nations,” Reuters reported.

President Trump announced Thursday he’s slapping tariffs on all goods imported from Mexico as punishment for what he darkly described as the country’s failure to combat “chaos” on the U.S. southern border. In a Twitter statement, Trump announced a 5% tariff on all Mexican imports will start June 10. […] The potentially economically crippling tariffs — which will be paid by American consumers of Mexican goods — are allowed under the International Emergency Economic Powers Act, Trump said. In his statement, Trump painted the unprecedented number of migrants arriving at the U.S.-Mexico border with a broad and fear-mongering brush.“Gang members,...

The next time President Trump and Chinese President Xi Jinping will meet will likely be at the G-20 summit in Japan next month. The leaders of the world’s two largest economies will no doubt aim to resolve their long-simmering trade dispute that has the U.S. and China going tit-for-tat on tariffs. If they fail to reach an agreement, there’s a good chance Trump will follow through on his threat to place additional 25% tariffs on $300 billion worth of Chinese goods. A new report by Citi estimates the impact of additional tariffs on virtually all Chinese imports would be far...

As things stand, America is likely to lose the tech war with China. The stock market should be sending a message to President Trump. U.S. semiconductor stocks are down 20% in the past month, and the broad market has been in freefall for a week. This is a war we can win, by mobilizing American ingenuity to produce technology that will crush the competition. No-one ever won a war by trying to stop someone else from doing something. I'm an Always Trumper, and I want the president to win another term. But he's risking the U.S. economy and his re-election...