14
Friday
August 2020
11:02 AM IST
News Headlines
Sports Minister Rijiju to launch Fit India Freedom Run on Friday        Hoping to get the speed gun up, Starc works on muscular body during COVID lockdown        SpiceJet offers automated customer service and check-in facility on WhatsApp        Sebi issues procedure for exchanges to handle investor complaints against listed cos        Experts warn Spain is losing the 2nd round in virus fight        Bhutan imposes 1st nationwide virus lockdown        Pilot meets Gehlot, handshake signals his return        Over 3 Cr N95 masks, 1.28 Cr PPEs, 10 Cr HCQ tablets given to states, UTs by Centre for free        Bengal govt encourages organ donation: Mamata        PM unveils new tax reforms - faceless tax assessment, taxpayers' charter        Virus outbreak threatens New Zealand's fan-filled stadiums        Lahiri back in action after 5 months, joins Atwal at Wyndham        HAL s Light Combat Helicopters deployed for operations at Leh        Sensex falls over 200 pts in early trade; Nifty below 11,300        Black women, Democrats celebrate Indian-origin Senator Harris' nomination as VP        Joe Biden names Indian-American Senator Kamala Harris as running mate        Biden 'nailed this decision' in picking Harris to be his running mate: Obama        Terrorist gunned down, soldier killed in encounter in J-K's Pulwama        Mulayam Singh Yadav's condition under control: Hospital        COVID-19: 60,963 fresh cases take India's tally to 23,29,638        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
International News
US likely to escalate trade war with China if no deal is agreed soon: Trump's advisor
 
Beijing: 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's 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's second largest economy after the US, imposed tit-for-tat tariffs on USD 110 billion of American goods.

Michael Pillsbury, adviser to the White House on China policy, said that Trump would likely escalate the trade war by raising existing tariffs, if no deal is reached.

In an interview in Hong Kong on Thursday, Pillsbury said that Trump had been remarkably restrained in the pressure he has brought to bear on China in the trade field .

Both sides so far have held 12 rounds of talks but failed to work out a deal as China continued to resist Trump's demand for intrusive verification mechanism to supervise Beijing's promise to protect intellectual property rights (IPR) technology transfer and more access to American goods to Chinese markets.

Trump delayed a planned tariff hike on USD 250 billion of Chinese goods as a "gesture of good will" ahead of China's 70th year of National Day celebrations on October 1.

The two countries are preparing for the next round of trade talks in Washington in October.

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, Pillsbury was quoted as saying by the Hong Kong-based South China Morning Post on Sunday.

Trump's critics were wrong to assume the President was just bluffing when he threatened an all-out trade war, he said.

There are other options involving the financial markets, Wall Street, you know, the president has a whole range of options, he said.

Pillsbury said Trump was not seeking to cripple US-China trade, instead positing that he wanted to increase the level of trade to rectify the deficit .

Meanwhile, a veteran Chinese economic policymaker has for the first time revealed intrusive American demands saying that US is trying to colonise China with a trade deal.

Li Deshui, a former chief of China's 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's 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's hi-tech industry and state-owned enterprises by asking China to open up its financial sector and markets unconditionally, Li said.

It is the first time that a senior figure in Beijing has revealed US' demands in trade talks.

It was impossible for Beijing to agree to any of the US demands as they were asking China to give up its economic sovereignty, Li wrote.

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

It's 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 it's absurd. The Chinese government and the Chinese people will never agree! Li wrote.


Experts warn Spain is losing the 2nd round in virus fight
Bhutan imposes 1st nationwide virus lockdown
Black women, Democrats celebrate Indian-origin Senator Harris' nomination as VP
Joe Biden names Indian-American Senator Kamala Harris as running mate
Biden 'nailed this decision' in picking Harris to be his running mate: Obama
Coronavirus breaks out again in New Zealand after 102 days
Putin says Russia develops world''s first vaccine against coronavirus
Belarus' leader wins sixth term with over 80% of votes
Malaysia's ex-finance minister charged again in graft case
Brazil makes grim milestone 100,000 deaths from COVID-19 By Marcelo de Sousa
Lebanon information minister resigns in wake of deadly blast
Leaders of Sri Lanka, Pakistan, Maldives offer condolences to families of Kerala plane crash victims
UN reports sharp increase in cybercrime during pandemic
Trump signs executive orders banning Chinese apps TikTok & Wechat
Sri Lanka election: Early results show Rajapaksa clan heading for landslide win
Lebanese Red Cross: Toll from Beirut blast rises to 100 dead
17 killed as boat capsizes in Bangladesh
Seven dead, 60 infected by new infectious disease in China: Report
Bangladesh PM Hasina assures ''proper'' probe, trial in retired army major killing
India slams Pakistan; Dismisses its ''so-called new political map'' as exercise in ''political absurdity''
ENTERTAINMENT NEWS
My whole life has been a miracle: Rajinikanth
 Mumbai: From starting out as a bus conductor to becoming one of the biggest stars of the: country,  
'Game of Thrones' star Indira Varma tests positive for coronavirus
Coronavirus: Release of Ranveer Singh-starrer '83' put on hold
'Joker' earns Joaquin Phoenix his maiden Oscar
KERALA NEWS
Toll in Idukki landslide rises to 52 as three more bodies recovered
 Idukki (Ker): The toll in the landslip in Pettimudi in the high range Idukki district rose to 52 wit
1,417 Covid cases in Kerala; 36 health workers also infected
SIT formed by Kerala police to probe air crash
Kerala logs 1,211 fresh coronavirus cases; aggregate reaches 34,331
NATIONAL NEWS
Pilot meets Gehlot, handshake signals his return
 Jaipur: Sachin Pilot met Rajasthan Chief Minister Ashok Gehlot Thursday, the first time after he ope
Over 3 Cr N95 masks, 1.28 Cr PPEs, 10 Cr HCQ tablets given to states, UTs by Centre for free
Bengal govt encourages organ donation: Mamata
Terrorist gunned down, soldier killed in encounter in J-K's Pulwama
Untitled Page
Rashtra Deepika LTD
Copyright @ 2020 , Rashtra Deepika Ltd.