Japan And South Korea
One of Mr Trump’s first moves as president was to withdraw the US from the Trans Pacific Partnership – a proposed 12-country deal that eventually went ahead without America, putting its exports at a disadvantage.
The US president had made repeated threats to impose tariffs on European cars but that has never materialised.
However, the White House continues to dangle the prospect of steep levies on other EU goods such as French produce in retaliation for France’s new digital services tax..
Spain And Hispanic America
The use of American as a national demonym for U.S. nationals is challenged, primarily by Hispanic Americans. Spanish speakers in Spain and Latin America use the term estadounidense to refer to people and things from the United States , while americano refers to the continents as a whole. The term gringo is also accepted in many parts of Latin America to refer to a person or something from the United States however, this term may be ambiguous in certain parts. Up to and including the 1992 edition, the Diccionario de la lengua espaÃ±ola, published by the Real Academia EspaÃ±ola, did not include the United States definition in the entry for americano this was added in the 2001 edition. The Real Academia EspaÃ±ola advised against using americanos exclusively for U.S. nationals:
It is common, and thus acceptable, to use norteamericano as a synonym of estadounidense, even though strictly speaking, the term norteamericano can equally be used to refer to the inhabitants of any country in North America, it normally applies to the inhabitants of the United States. But americano should not be used to refer exclusively to the inhabitants of the United States, an abusive usage which can be explained by the fact that in the United States, they frequently abbreviate the name of the country to “America” .
Did Joe Biden Call Trump Hysterical & Xenophobic For His Travel Restrictions
GettyFormer vice president and Democratic candidate Joe Biden.
Pence also claimed that Biden called Trumps travel restrictions xenophobic and hysterical during the debate. Nonpartisan fact-checkers, however, have pointed out that Bidens comments on Trump were made in the context of criticizing his general temperament when it comes to race.
According to Politifact, which drew on multiple outlets as sources, Biden did claim that Trump had a record of hysteria, xenophobia, and fear-mongering around the time Trump announced the travel restrictions.
According to CNN, Bidens remarks were targeted at what he perceived as Trumps general racism, and made at a campaign stop, when he was not yet aware of the travel restrictions.
Conservative outlet The National Review disagreed, however, tying Bidens statement, as well as a concurrent tweet from the campaign, directly to Trumps travel policies.
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What Are Tariffs Supposed To Achieve
Two things: Increase government revenue. And protect domestic industries from foreign competition. Before the federal income tax was established in 1913, tariffs were a big money raiser for Washington. From 1790 to 1860, tariffs produced 90 percent of federal revenue, according to Douglas Irwin, an economist at Dartmouth College. By contrast, tariffs in recent years have accounted for only about 1 percent of federal revenue.
Tariffs are meant to raise the price of imports or punish foreign countries for unfair trade practices, like subsidizing their exporters and dumping their goods at unfairly low prices. They discourage imports by making them costlier. They also reduce pressure from foreign competition and make it easier for home-grown companies to raise prices.
As global trade grew after World War II, tariffs fell out of favor. The formation of the World Trade Organization and the forging of trade deals like the North American Free Trade Agreement reduced or eliminated tariffs. The average U.S. tariff is now one of the lowest in the world: 1.6 percent, the same as the European Union’s, the Pew Research Center reports.
Here Are The Reasons For Trump’s Economic War With China
On Friday the US president hereby ordered companies to halt business with China, among other attacks how did we get here?
Even by Donald Trumps standards his Twitter rant attacking China on Friday was extraordinary. In a series of outbursts Trump hereby ordered US companies to stop doing business with China, accused the country of killing 100,000 Americans a year with imported fentanyl and stealing hundred of billions in intellectual property.
The attack marked a new low in Sino-US relations and looks certain to escalate a trade war already worrying investors, manufacturers and economists who are concerned that the dispute between the two economic superpowers could trigger a recession.
Not so long ago Trump called Chinas president, Xi Jinping, a good friend. Now he is an enemy. How did we get here?
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What Is China Accused Of In Xinjiang
Activists say China is trying to assimilate Muslim ethnic groups by force, by destroying their culture and banning their practices.
China says the camps in the autonomous territory are vocational educational centres that target Islamic extremism.
A report in March said tens of thousands of Uighurs had been transferred out of Xinjiang to work in factories across China.
Chinese state media said any labour transfer was voluntary.
President Trump And Uncertainties For China
- 10Simon Denyer, Trump Says China Is the Best Ever at Devaluing its Currency, The Washington Post,
- 11Mark Lander and Michael D. Shear, Trump Administration to Take Harder Tack on Trade with China, T
- 12Jane Perlez, After Xi Leaves U.S., Chinese Media Assail Strike on Syria, The New York Times, 8 Ap
- 13See for example, Allison Lampert and J. R. Wu, U.N. agency Snubs Taiwan, Recognizing Beijings On
- 14See for example, Chinese Official Offers Hope on Ties, Taipei Times, 12 March 2017, http://www.ta
- 15Ting Shi, Trump Reaffirms One-China Stance in First Call with Xi, Bloomberg, 10 February 2017,
- 16Sébastien Colin, China, the US, and the Law of the Sea, China Perspectives, 2016/2, pp. 57-62.
- 17Max Fisher, The South China Sea: Explaining the Dispute, The New York Times, 14 July 2016,
- 18SIPRI Military Expenditure Database,
- 19Serafettin Yilmaz, The Development of the Chinese Navy and Energy Security, Global Review, 2014,
- 20Yang Henjun, Why Are Chinas Neighbors So Afraid of Her?, The Diplomat, 23 May 2014,
- 21Simon Shen, Xi Jinping shidai zhongguo waijiao de shi da tese
- 22Joseph Nye, The Kindleberger Trap, China-US Focus, 1 March 2017,
- 29Amitai Etzioni, Tillerson, Trump and the South China Sea, The Diplomat, 28 January 2017,
- 30Ni Tao, Sino-US Relations Remain on Solid Footing Despite Trumps Foreign Policy Posture, Shangha
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From Strategic Partner To Competitor
Although Chinas rise had been a concern of the previous Bush and Obama administrations, it was the Trump administration that transformed the entire narrative on China from strategic partner to strategic competitor, starting with its National Defence Strategy report released just one month after Trumps 2017 China visit.
This read, in part,
China and Russia want to shape a world antithetical to US values and interests. China seeks to displace the United States in the Indo-Pacific region, expand the reaches of its state-driven economic model and reorder the region in its favour.
This new way of thinking deemed the USs , deployed since President Richard Nixon in the early 1970s, a failure.
Prior to Trump, the US had sought to encourage China to grow into a responsible stakeholder of a rules-based international order.
According to the Trump administration, this is centred on predatory economics in trade and technology, political coercion of less-powerful democracies and Chinese military advancement in the region.
American Exports Have Fallen Well Short Of Targets In The Deals First Year
DONALD TRUMP is rarely accused of subtlety. His bellicose approach to Chinas trade surplus and its unfair practices was no exception. Swingeing tariffs on Chinese goods did succeed in bringing China to the negotiating table. In January 2020 the two countries signed a phase-one trade deal. China agreed to raise its imports of a selection of American goods from $78bn in 2019 to $159bn in 2020, with yet more spending pledged in 2021. The president hailed this as a momentous step…toward a future of fair and reciprocal trade with China.
In reality, the deal was limited and trade disputes rumbled on regardless. Worse still, China has failed spectacularly to meet that $159bn commitment in the agreements first year, according to a new analysis by the Peterson Institute for International Economics, a think-tank in Washington, DC. In 2020 China spent only $94bn on the American goods covered by the deal. That is about as much as it did in 2017, before Mr Trump began his trade war . Granted, the numbers in 2020 may have been dampened by the covid-19 pandemic. But Chinas economy still recovered enough to grow by 2.3% last year. By June its total imports had regained pre-coronavirus levels.
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Trump Records Shed New Light On Chinese Business Pursuits
As he raises questions about his opponents standing with China, President Trumps taxes reveal details about his own activities there, including a previously unknown bank account.
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Senate Republicans produced a report asserting, among other things, that Mr. Bidens son Hunter opened a bank account with a Chinese businessman, part of what it said were his numerous connections to foreign nationals and foreign governments across the globe.
But Mr. Trumps own business history is filled with overseas financial deals, and some have involved the Chinese state. He spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company.
The Chinese account is controlled by Trump International Hotels Management L.L.C., which the tax records show paid $188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015.
Hes like a vacuum cleaner he follows his father around collecting, Mr. Trump said recently, referring to Mr. Bidens son. What a disgrace. Its a crime family.
Chinaunited States Trade War
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Since the 1980s, Trump had advocated tariffs to eliminate the U.S. trade deficit and promote domestic manufacturing, saying the country was being “ripped off” by its trading partners imposing tariffs became a major plank of his presidential campaign. Most economists do not believe trade deficits pose a significant problem for the American economy. Nearly all economists who responded to surveys conducted by the Associated Press and Reuters said Trump’s tariffs would do more harm than good to the American economy, and some economists advocated alternate means to address trade deficits with China.
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China Likely To Strike Back
In comparison, the US imported $452 billion worth of goods from China in 2019. Bown pointed out, however, that Beijing could strike back in ways that would hurt American businesses.
Ironically, it would be more impactful for trade if China were to respond with an escalation and forceable takeover of Hong Kongs trade policy, Bown said. If Beijing were somehow able to extend its retaliatory tariffs that would have a bigger impact, as the United States exports over $30 billion a year to Hong Kong.
Trump also said the State Departments travel advisory for Hong Kong will be revised to reflect the increased danger of surveillance and punishment by the Chinese state security apparatus.
Some former officials said Trumps response could end up hurting Hong Kongs residents.
The Hong Kong-related provisions in Trumps announcement were fairly vague and it remains to be seen how quickly and extensively they are implemented, said Danny Russel, a former senior director for Asian affairs on the National Security Council who is now a vice president at the Asia Society Policy Institute. But it is not at all clear that the removal of Hong Kongs special status will make things better for the people we would like to help and, in fact, might inadvertently accelerate their loss of autonomy.
Trumps Tariffs Were Much More Damaging Than Thought
A trader wipes his eyes as he watches stock prices at the New York Stock Exchange on August 23, … 2019, in New York. Stocks tanked after Donald Trump vowed to escalate the trade war with China. The Dow Jones Industrial Average declined more than 600 points, or 2.4%.
Donald Trumps tariffs and the trade war his administration launched against China turned out to be far more damaging than many believed. That is the conclusion of research finding companies, consumers and the U.S. economy paid a heavy price for the Trump administrations protectionist trade policies.
In new research, Mary Amiti, an economist at the Federal Reserve Bank of New York, and Sang Hoon Kong and David Weinstein, both economists at Columbia University, used movements in stock prices to measure the response to policy announcements on tariffs and the escalation of the U.S.-China trade war initiated by the Trump administration. Stock prices are well suited for this purpose because firm market value equals the expected present value of future firm profits, according to Amiti, Kong and Weinstein. Therefore, movements in stock prices tell us about changes in the expected future value of firm-specific capital .
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