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
US President Donald Trump is ramping up the tariff regime to be imposed on China.
In a statement Trump warned: “if China takes retaliatory action…we will immediately pursue phase three, which is tariffs on approximately $267bn Chinese goods”.
The new tariffs will reportedly hit thousands of consumer products in the US.
Trump said “we have given China every opportunity… But, so far, China has been unwilling to change its practices.”
As a consequence, US stock futures took a hammering, with E-Minis for S&P 500 and the Dow Minis coming down 0.2%.
Trump’s warning to China was like water off a duck’s back.
A Chinese newspaper reported that China was reviewing the sending of a trade delegation to the US.
Trump tweeted in response “Tariffs have put the US in a very strong bargaining position, with billions of dollars, and jobs, flowing into our country – and cost increases almost unnoticeable”
But, American farmers, expressed concern with a farmer who’s a legislator saying, “As trade tensions escalate, and our ability to sell our goods to major markets diminishes we’re having to make long-term business decisions that could affect our farms for generations.”
Trump harped on regardless, tweeting: “Our Steel Industry is the talk of the world. It has been given (the industry) new life” criticizing China for the theft of US companies’ property rights.
Analysts say the president is keen on tariff talks, but the Chinese have shown no great response to this.
Financial markets appear rattled as the trade conflict intensifies but Trump has been unrelenting.
Trump’s America has not stopped at a trade war with China: it rants on against Iran with the American president resolved to nullify the nuclear agreement (JCPOA) after labeling Iran as “the world’s largest exporter of terrorism”.
Reports filed in various quarters read that Russia and China are at odds with America on the first issue, while Europe adds its name on the list of the countries which disagree with Trump on the second.
The UN Security Council is currently in session addressing the JCPOA issue, but a myriad of other problems are posed with the US president apparently determined to put on a display of America’s military might (rivaled by Russia), as well as its economic relevance (challenged by China).
Whether or not the American public will continue to buy Trump’s racist (read nationalistic) rhetoric will unveil at the mid-term elections, but there is little doubt his Republican Party colleagues are more than somewhat at a loss on how to work the situation to the party’s immediate advantage.
Not content with this, like his accusation of Russian meddling in US elections, Trump has alleged that China too is interfering in the US political process to add fuel to the fire.