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Thread: US Steel & Aluminum Tariffs

  1. #121
    Former Staff Senior Contributor Ironduke's Avatar
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    Full article: http://www.bbc.com/news/business-44103081
    Trump seeks to save Chinese jobs at ZTE ahead of trade talks

    US President Donald Trump has said he wants to help save ZTE, one of China's biggest telecoms companies.

    The firm has suspended operations after the commerce department last month banned US companies from selling it components for seven years.

    ZTE pleaded guilty to making illegal shipments to Iran and North Korea.

    Mr Trump tweeted that he was working with President Xi to ensure ZTE would get back into business fast, saying too many jobs in China were at risk.

    US commentators say the tone of the tweet is a dramatic shift for Mr Trump, who has consistently accused China of stealing US jobs.

    The concession to Beijing comes ahead of high-level trade talks later this week in Washington aimed at resolving an escalating trade dispute between the world's two largest economies.

    Beijing has made resolving the situation with ZTE, which employs about 80,000 people, one of its demands for striking a broader trade agreement with with US.

    In March 2017 ZTE admitted to violating US sanctions by illegally shipping American technology to Iran and Korea and was fined $1.1bn (800m).

    The current export ban was imposed last month after the company allegedly failed to comply with its agreement, lying about the punishment of employees involved in skirting the sanctions.
    If I say its safe to surf this beach, Captain, then its safe to surf this beach! I mean, I'm not afraid to surf this place, I'll surf this whole f--- place! -LTC Kilgore

  2. #122
    Senior Contributor DOR's Avatar
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    Quote Originally Posted by Ironduke View Post
    The Trumpet really cares for the common man!
    Trust me?
    I'm an economist!

  3. #123
    Former Staff Senior Contributor Ironduke's Avatar
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    Quote Originally Posted by DOR View Post
    The Trumpet really cares for the Communist man!
    Fixed that for you.

    Source: http://www.bbc.com/news/business-44187975
    China agrees to import more goods and services from US

    China has agreed to buy more US goods and services, reducing the trade imbalance between the two countries and dampening fears of a looming trade war.

    Washington says the move will "substantially reduce" its $335bn annual trade deficit with Beijing.

    But it stopped short of saying exactly how big the reduction would be.

    "Both sides agreed on meaningful increases in US agriculture and energy exports," a US-China statement said following days of talks in Washington.

    "This will help support growth and employment in the United States."

    The countries also agreed to keep negotiating on trade to resolve their concerns "in a proactive manner".

    Earlier, the White House had said it was aiming for a $200bn reduction, but this figure was not mentioned in the statement.

    The two sides also did not say whether they would delay or drop their tariff threats on billions of dollars worth of each others' goods.

    Both countries have imposed tariffs on each others' imports, though they are yet to be implemented.

    US President Donald Trump has threatened to impose tariffs on up to $150bn on Chinese goods.

    He says the objective is to persuade China to end what he calls the theft of American intellectual property - such as technology and copyright.

    The US has already imposed tariffs on imports of steel and aluminium. Countries accounting for the bulk of those imports have been exempted, but China is not among them.

    Beijing has threatened equal retaliation, including tariffs on a number of US imports - among them aircraft, soybeans, cars, pork, wine, fruit and nuts.

    An article published by Chinese state news agency Xinhua on Sunday declared the latest agreement as a "good example of win-win", adding it would help the US reduce its trade deficit and allow China to raise the quality of its imports.

    The trade statement from the two countries concluded: "Both sides agreed to encourage two-way investment and to strive to create a fair, level playing field for competition."
    If I say its safe to surf this beach, Captain, then its safe to surf this beach! I mean, I'm not afraid to surf this place, I'll surf this whole f--- place! -LTC Kilgore

  4. #124
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    Quote Originally Posted by Ironduke View Post
    Fixed that for you.

    Source: http://www.bbc.com/news/business-44187975
    So nothing but 'promises'?

    Tentatively hopeful, but it sounds like the US got played.

  5. #125
    Resident Curmudgeon Military Professional Gun Grape's Avatar
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    I wonder why we exempted everyone but Japan?

    Japan reserves right to take counter-measures against U.S. steel tariffs
    REUTERS

    May 19, 2018 at 08:15 JST

    Japan has notified the World Trade Organisation that it reserves the right to take counter-measures against U.S. tariffs on steel and aluminium imports, the foreign ministry said on Friday.

    Japan is the only major U.S. ally that did not receive exemptions from U.S. President Donald Trump's decision in March to set import tariffs of 25 percent on steel and 10 percent for aluminum.

    But it had previously refrained from following in the footsteps of China and the European Union, which responded to the U.S. decision with reciprocal threats.

    The Japanese government will make any decision on its actual implementation of "rebalancing" measures on the basis of further U.S. steps, as well as the possible impact of retaliatory measures by Tokyo on Japanese companies, the foreign ministry said in a statement.

    Tariffs Japan will shoulder under the new duties come to about 50 billion yen ($450 million) a year. The ministry said Japan had notified the WTO it reserved the right to take rebalancing measures worth that amount.
    Its called Tourist Season. So why can't we shoot them?

  6. #126
    Senior Contributor DOR's Avatar
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    Quote Originally Posted by Ironduke View Post
    Fixed that for you.
    Fewer than 90 million people belongs to the CCP.
    That's less than 7% of the population, and a much, much smaller share of the manufacturing-for-export work force.
    My comment was exactly what I wanted to say, and meant to say.
    Trust me?
    I'm an economist!

  7. #127
    Former Staff Senior Contributor Ironduke's Avatar
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    Quote Originally Posted by DOR View Post
    Fewer than 90 million people belongs to the CCP.
    That's less than 7% of the population, and a much, much smaller share of the manufacturing-for-export work force.
    My comment was exactly what I wanted to say, and meant to say.
    Perhaps a more apt way to put it, in this particular case, was that he showed more care for the Chinese common man, than the American common man. That's what I was trying to say, in a way I thought was humorous. :-)
    If I say its safe to surf this beach, Captain, then its safe to surf this beach! I mean, I'm not afraid to surf this place, I'll surf this whole f--- place! -LTC Kilgore

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