September 30, 2018 | Lodhi’s Speech at UN
September 29, 2018 | China rebuts US allegations
| Russian missiles challenge
September 28, 2018 | Iran defies America
| Britain and the EU
As US President Donald Trump veers towards tariffs, trade wars loom.
It will bring “disaster to the world economy” Chinese Commerce Minister, Zhong Shan, said
Reported is that the US has been examining ways to exempt its European allies and Japan from the metal import tariffs but there is no sign of any exemption yet.
They may come, but Trump’s target is China whose global reach is coming faster than with each step its Belt and Road initiative takes.
China does not want a trade war and will not initiate one. “It will only bring disaster to China and the United States and the world”, Zong warned.
China’s metals industry then issued a retaliatory counter, suggesting it could target the US coal – a sector that is central to Trump’s political base.
As matters stand, the US is the world’s biggest importer of steel, purchasing 35 million tons. Of these, South Korea, Japan, China and India account for 6.6 million tons.
And, though Trump believes the tariffs will safeguard American jobs, many economists think that they will destroy more jobs than curbs on imports create.
This notwithstanding, there appears to be bipartisan consensus in Washington, and support within some segments of the US business community for the US government to counter what is seen as “Beijing’s predatory industrial policies”.
Diplomatic and business sources say the US has for the moment stopped formal talks on commercial activity with China because it is sure Beijing will not agree to market terms.
But the American president has been inconsistent in all his doings so far and still is searching for the perfect team to implement what he has in mind. The problem is that ‘America First’ tops his agenda for change and on that he has shown no sign of relenting.
As good a businessman as he may have been he does not appear to understand the rudiments of international politics – and therein lies the poverbial hitch.