Trump Threatens to Impose Reciprocal Tax on India, China

-China trade frictions either.

The process would be long and slow and even if they ruled against the U.S. it may be unwilling to accept a negative decision, further weakening the WTO’s authority, Jacobi said.

With the tariffs set to go into effect 15 days from now, Mr. Trump is also hinting at accelerating the USA investigation into intellectual property theft by China, America’s biggest trading partner.

Certainly trade figures released this week by both the USA and China will do little to change Mr Trump’s view on China and trade. Mr. Trump believes this deficit is proof that all its trading partners are unfair to America.

Media captionTrump laughs off awkward slip-up with steelworkers What has the worldwide reaction been?

In the world of global trade the $US2 billion worth of steel the U.S. imports from China is small beer.

China’s metals industry issued the country’s most explicit threat yet in the row, urging the government to retaliate by targeting USA coal – a sector that is central to Trump’s political base and his election pledge to restore American industries and blue-collar jobs.

While the Trump administration’s measures go into effect in about two weeks, they alone will not have a major impact on the Chinese economy.

Mexico’s Economy Minister, Ildefonso Guajardo, insisted the tariffs could not be linked to talks on Nafta. “We can not allow this to happen as it has for many years!”

What about inside the US?

But the latest developments are a reminder that uncertainty still lingers around threats to the global trade order stemming from the Trump administration’s recent anti-trade rhetoric.

US House Speaker Paul Ryan denounced the new measures and said he feared “unintended consequences”.

Trump’s tariffs on aluminum may hurt a bit more, but not much.

Analyst Ye said Trump is playing to his base.

The term “head-of-state diplomacy” was mentioned by Xi as he hosted visiting President Donald Trump of the United States in November.

At the time, which was just before Mr Trump’s visit to China a year ago, China’s customs office issued a statement saying it would “actively promote increased cooperation with customs administrations of all countries and regions to jointly fight and comprehensively manage” IP rights.

“Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with”.

Xi has visited 57 countries and received a more than 110 foreign heads of state, Wang said, citing Xi’s “leadership and charisma”.

“The United States and North Korea must engage in dialogue as soon as possible”, he said.

“We have heard directly from the Chinese that USA soybeans are prime targets for retaliation”, the trade group said in a statement.

“We will urge the worldwide community to refrain from adopting measures that inhibit free trade”, said the minister, Paik Un-gyu, according to a ministry statement.

The White House, however, says that the national security rationale for the move is “unassailable” and national security considerations are allowed under WTO rules. Plus, companies usually lock in steel and aluminum prices with long-term contracts, so it could take years for price increases to kick in, she said.

While carrying a message to Washington to push forward a diplomatic breakthrough over North Korea, South Korea’s national security office chief Chung Eui-yong asked US officials to support Seoul’s request for a waiver, a presidential spokesman said.

Trump: The Bull in the China (Policy) Shop