{"id":4537,"date":"2019-09-22T19:52:39","date_gmt":"2019-09-22T14:22:39","guid":{"rendered":"https:\/\/triumphias.com\/blog\/?p=4537"},"modified":"2019-09-22T19:52:39","modified_gmt":"2019-09-22T14:22:39","slug":"us-likely-to-escalate-trade-war-with-china-if-no-deal-is-agreed-soon","status":"publish","type":"post","link":"https:\/\/triumphias.com\/blog\/us-likely-to-escalate-trade-war-with-china-if-no-deal-is-agreed-soon\/","title":{"rendered":"US likely to escalate trade war with China if no deal is agreed\u00a0soon"},"content":{"rendered":"

Relevance: Mains: Current Affairs Analysis<\/strong><\/p>\n

Why in news?<\/strong><\/p>\n

These are low level tariffs that could go to 50 per cent or 100 per cent,\u201d Pillsbury was quoted as saying by the Hong Kong-based South China Morning Post on Sunday.<\/p>\n

The US is likely to ramp up pressure on China by raising existing tariffs if a trade deal is not reached soon between the two countries, a key White House adviser has said. The world\u2019s two largest economies have been locked in a bruising trade war since Trump in March last year imposed tariff hikes of up to 25 per cent on USD 250 billion of Chinese goods. In response, China, the world\u2019s second largest economy after the US, imposed tit-for-tat tariffs on USD 110 billion of American goods. Trump would likely escalate the trade war by raising existing tariffs, if no deal is reached.<\/p>\n

Both sides so far have held 12 rounds of talks but failed to work out a deal as China continued to resist Trump\u2019s demand for intrusive verification mechanism to supervise Beijing\u2019s promise to protect intellectual property rights (IPR) technology transfer and more access to American goods to Chinese markets. The two countries are preparing for the next round of trade talks in Washington in October.<\/p>\n

Does the president have options to escalate the trade war?<\/p>\n

Yes, the tariffs can be raised higher.<\/p>\n

These are low level tariffs that could go to 50 per cent or 100 per cent, Pillsbury was quoted as saying by the Hong Kong-based South China Morning Post on Sunday.<\/p>\n

Trump\u2019s critics were wrong to assume the President was just bluffing when he threatened an all-out trade war.<\/p>\n

Meanwhile, a veteran Chinese economic policymaker has for the first time revealed \u201cintrusive\u201d American demands saying that US is trying to colonise China with a trade deal.<\/p>\n

Li Deshui, a former chief of China\u2019s statistics bureau, wrote in an article that that the US had specifically demanded that China amend its domestic laws and proposed to establish a permanent bilateral office to debate Beijing\u2019s economic policies. In addition, Washington had requested a one-sided enforcement mechanism that allowed it to impose sanctions on China if it was unhappy with economic policies, but China could not retaliate, Li was quoted as saying by the Post. The US had also tried to restrict China\u2019s hi-tech industry and state-owned enterprises by asking China to open up its financial sector and markets \u201cunconditionally,\u201d Li said.<\/p>\n

It is the first time that a senior figure in Beijing has revealed US\u2019 demands in trade talks. \u201cIt was impossible for Beijing to agree to any of the US demands as they were asking China to \u201cgive up its economic sovereignty,\u201d Li wrote.<\/p>\n

\u201cThis is a wholly unfair treaty that seeks to colonise China\u2019s economy. If this is accepted, then it is giving up China\u2019s development path, giving up China\u2019s rights of development, and making China a vassal of the US,\u201d Li wrote in the article reviewing China\u2019s economic achievements and setbacks in the seven decades since the People\u2019s Republic of China was founded as well as challenges ahead.<\/p>\n

It\u2019s almost 2020 and the US is trying to bully China. The US is trying to get what it cannot get in economic competition through a piece of paper \u2026 it\u2019s absurd. The Chinese government and the Chinese people will never agree!<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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