U.S. Promises a 'Reckoning' If China Doesn't Change Trade Policy

[jpak]

Source: Bloomberg

The Trump Administration admonished China Wednesday for failing to abide by World Trade Organization rules and threatened to double down on its unilateral approach to punishing Beijing’s alleged trade abuses.

The U.S. is mulling actions “outside the WTO” to curb China’s trade abuses, Deputy U.S. Trade Representative Dennis Shea told a meeting of trade officials at the WTO’s triennial review of China’s trade policies in Geneva. “This reckoning can no longer be put off.”

The American critique comes a day after the U.S. laid out plans to impose tariffs on an additional $200 billion in Chinese goods, escalating the trade war between the world’s two largest economies. Beijing described the latest U.S. move as “totally unacceptable” and vowed to fight back.

“We find no indication that China has been prepared to make the fundamental changes that would be necessary to bring its trade and investment regime into alignment with the regimes of other WTO members,” Shea said, according to a copy of his prepared remarks.

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Read more: https://www.bloomberg.com/news/articles/2018-07-11/u-s-promises-a-reckoning-if-china-doesn-t-change-trade-policy

[LastLiberal in PalmSprings]

1. "Day of reckoning," "fire and fury like the world has never known," "a special place in hell"

Have we ever heard language like that coming from any other Administration? Even Dubya, who until now I considered the low point in presidents during my lifetime until Trump came along, never used such language. I think Cheney once told Senator Pat Leahy, "Go fuck yourself," on the floor of the Senate, but that was about it.

At least Dubya knew who our friends were and who our enemies were (for the most part).

[Maxheader]

2. Mao Zedong is turning in his grave...

[blue-wave]

3. A move like this will throw the

entire world into a tailspin. It's been the goal of right wing fundamentalists so Armageddon might finally happen and of Putin. It's my understanding that the Russians, along with the Chinese have been stockpiling massive amounts of gold and silver. Why? Well, maybe to make a power move and become the world reserve currency. Trump it appears, is helping them. BTW, I posted a video at the link below that claims Trump wants $500 billion in tariffs against China. This is insane. Let's see what happens after his private meeting with Putin on Monday.


The mention of $500 billion in tariffs is at about 1:20.

https://www.democraticunderground.com/1017500073

[JaneQPublic]

4. We're headed for WWIII...

...Only this time, it'll be every other country in the world joining forces against the U.S.

[yallerdawg]

5. WTO has a dispute settlement system.

I'm afraid that members of the WTO consider the US to be the violating member.

[louis c]

6. What if China declares, "no more purchases of US Trerasury Bonds until further notice"

How's that for a "reckoning"?

[dalton99a]

12. +1

[Scarsdale]

7. Iwanka should show her

support of daddy by relinquishing all her Chinese patents. That would show 'em!! Cancel the orders for thousands of pairs of (stolen design) shoes. Made cheap, sold expensive! Maybe WalMart will buy them if they are priced low enough.

[BumRushDaShow]

8. ...

[keithbvadu2]

9. Don't forget... Trade wars are 'easy to win'.

[Pendrench]

10. Make no mistake...

[GeorgeGist]

11. What's Christmas without China?

[dalton99a]

13. How much would an iPhone cost if Apple were forced to make it in America?

https://www.forbes.com/sites/quora/2018/01/17/how-much-would-an-iphone-cost-if-apple-were-forced-to-make-it-in-america/

[Javaman]

14. yes, we will continue to shoot ourselves in the foot unless china does as we say. nt