USA tariffs will help few

Mar 17, 2018, 01:36
USA tariffs will help few

A senior White House advisor on trade said Thursday that President Donald Trump would soon consider fresh punitive measures against Beijing over its "theft" of USA intellectual property.

The White House said this week that it has asked China to cut its trade surplus with the United States by $100 billion, without specifying how.

The details of the Trump administration's tariffs - 25 percent on foreign steel, 10 percent on aluminum - are still unclear, and that helps explain why they are likely to have limited effect.

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"We can obviously do it in a way that can be good for the American people and good for the global trading system", he said.

China reported its 2017 U.S. trade surplus as US$276 billion, also about two-thirds of its reported global surplus of US$422.5 billion.

It is also unclear if the requested US$100 billion reduction would address complaints about China's investment policies that effectively require USA firms to transfer technology to Chinese joint venture partners in order to gain market access.

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Navarro said that tariffs, including those on metals imports, will not necessarily provoke a trade war.

In an editorial, widely-read Chinese state-run tabloid Global Times said the U.S. was trying to play the victim.

The conditions named by U.S. Trade Representative Robert Lighthizer at a Brussels meeting with EU Trade Commissioner Cecilia Malmstrom also included a promise that Brussels take measures against steel dumping from China and cooperate in a wide range of other trade issues, Spiegel reported on Friday.

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The European Union is proposing new tariffs on USA agriculture, textile, tobacco and a host of other products in response to the Trump administration's plan to impose tariffs on imports of steel and aluminum.

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