19
Saturday
October 2019
9:23 PM IST
News Headlines
Netherlands'' King Willem-Alexander , Queen Maxima, gets warm welcome in Alappuzha        PM Modi has no understanding of economy: Rahul        INX Media: Chidambaram conspired with son, misused official position, says CBI charge sheet        US dream shattered, 311 Indians land in Delhi after deportation from Mexico        US to host 2020 G7 summit at a Trump golf resort        Trump speaks over phone with Turkey''s Erdogan over cease-fire in Syria        Twin blasts in Afghanistan''s mosque kill 62        China''s Q3 GDP growth slows to 6%, slowest in 27 years        Ranchi Test: India eye clean sweep against Proteas        Pakistan sacks Sarfaraz as captain in Test, T20I formats        Mentally-unstable man jumps inside lion enclosure in Delhi zoo, escapes unhurt        BSF jawan killed, 1 injured in firing by Bangladeshi troops along border in West Bengal        At least 35 people killed in bus accident in western Saudi Arabia        UK, EU hail new Brexit deal, but Parliament sign-off hangs in balance        Nearly 100 people injured in Catalonia unrest on Wednesday: Medics        Indo-Pak bilateral ties subject to approval from PMs of both countries: Ganguly        Aiden Markram ruled out of Ranchi Test with wrist injury        Indian challenge ends at Denmark Open        Aussie cricketer Watson apologies for 'illicit' social media posts        India's performance was no match to atmosphere at Salt Lake: Chhetri        
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.


US to host 2020 G7 summit at a Trump golf resort
Trump speaks over phone with Turkey''s Erdogan over cease-fire in Syria
Twin blasts in Afghanistan''s mosque kill 62
At least 35 people killed in bus accident in western Saudi Arabia
UK, EU hail new Brexit deal, but Parliament sign-off hangs in balance
Nearly 100 people injured in Catalonia unrest on Wednesday: Medics
US House passes Hong Kong 'Democracy Act'
India halved its poverty rate since 1990s: World Bank
Russia's Putin arrives in UAE on first visit since 2007
Syria offensive to continue until 'objectives achieved': Erdogan
Japan looks for missing as typhoon kills as many as 56
Syria regime steps in to halt Turkish assault on Kurds
Kurds ''may be releasing'' IS prisoners in Syria to get US involved: Trump
Multiple arrests in Hong Kong as "flashmob" protests hit pro-Bejing targets
Typhoon leaves as many as 33 dead as Japan continues rescue
Heavy rain, winds lash Tokyo as powerful typhoon hits Japan
At least four dead in NYC shooting: police
Ethiopian PM Abiy Ahmed wins Nobel peace prize
Iran tanker hit by suspected missile strikes off Saudi coast
First man to conduct spacewalk, Alexei Leonov, dies
ENTERTAINMENT NEWS
My craft is a huge area of anxiety for me: Swara Bhasker
 Mumbai: Several acclaimed films and a decade later, Swara Bhasker still finds herself panicking befo  
Ordinary doesn't satisfy me, says Bhumi Pednekar
Shah Rukh Khan keen on making a 'hit kind' of film
Navya Nair Surprised with Her Son's Birthday Gift: Watch Video
KERALA NEWS
Netherlands'' King Willem-Alexander , Queen Maxima, gets warm welcome in Alappuzha
 Alappuzha: Netherlands'' King Willem-Alexander and Queen Maxima, who are on a two-day visit to Keral
Scribe's death:Kerala IAS officer's suspension extended
Kerala's CPI to discuss Vedas and Marxism in seminar
Kerala Assembly session from Oct 28
NATIONAL NEWS
PM Modi has no understanding of economy: Rahul
 Mahendragarh: Congress leader Rahul Gandhi on Friday alleged that Prime Minister Narendra Modi has n
US dream shattered, 311 Indians land in Delhi after deportation from Mexico
Mentally-unstable man jumps inside lion enclosure in Delhi zoo, escapes unhurt
Senior Odisha BJP leader Damodar Rout quits party
Untitled Page
Rashtra Deepika LTD
Copyright @ 2019 , Rashtra Deepika Ltd.