Published: Sat, September 15, 2018
Global News | By Stacy Ballard

Pres. Trump wants to proceed on fresh set of tariffs on China

Pres. Trump wants to proceed on fresh set of tariffs on China

If we meet, we meet? The news comes just two days after Treasury Secretary Steven Mnuchin extended an invitation to Chinese officials to restart talks. "And the question will be whether or not that leads to more negotiations".

The White House didn't immediately comment.

Details on the potential talks were thin, but Larry Kudlow, White House economic advisor, said the prospect of talks was a positive development.

"There's some discussions and information that we received that the Chinese government - the top of the Chinese government wished to pursue talks", Mr Kudlow said.

If both sets of tariffs go ahead it would mean virtually all of China's United States exports would be subject to new tariffs.

Any talks would resume amid doubts over prospects for a diplomatic settlement.

Everything you need to know about Hurricane Florence
Forecasters said this onslaught could last for days, leaving a wide area under water from both heavy downpours and rising seas. Can't connect right now! A mother and her baby died when a tree fell on their home in Wilmington, North Carolina .

A trade war is ultimately about who has more to lose.

"The US administration runs the risk of a downward spiral of attack and counter attack, benefiting no one", Zarit said.

China is a major buyer of lobsters, and the country imposed a heavy tariff on exports from the United States in early July amid trade hostilities between the two superpowers. "We welcome it", said a ministry spokesman, Geng Shuang.

Ultimately, Trump and Chinese President Xi Jinping will likely need to haggle personally over any settlement, he said.

Eric Zheng, chairman of AmCham Shanghai, said he supported the administration's goal to push Beijing into overhauling trade practices Trump considers unfair.

"I'm being strong on China because I have to be, " he said last week.

Hurricane hits Carolinas, governor warns 'it's going to get worse'
He said parts of North Carolina had seen storm surges - the bulge of seawater pushed ashore by the hurricane - as high as 10 feet. At least 1.7 million people in the Carolinas and Virginia have been warned to evacuate, and others are hunkering down.

A new group, called Americans for Free Trade, composed of almost 100 trade associations, launched a campaign Wednesday to lobby lawmakers and organize nationwide events in opposition to Trump's trade policies.

Trump threatened a third tranche of tariffs on another $267 billion of Chinese imports last week, which would mean levying duties on almost everything China exports to the U.S. Trump said at the time those tariffs were "ready to go on short notice", but the administration hasn't yet published a list for public comment.

As the Trump administration readies major trade actions this month, including a potential $200 billion in new tariffs on imported Chinese goods, America's biggest trade associations - representing a wide swath of industries - have formed what they say will be a sweeping campaign against tariffs.

The Trump administration has demanded that China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring US technologies and intellectual property and roll back high-tech industrial subsidies.

China has also warned it could unleash "qualitative" measures, which USA business groups have interpreted as more burdensome regulations, stalled visas and other red-tape headaches.

As of June 30, almost 450 entities employed lobbyists on trade issues - up from about 160 at the start of the year and about 100 when Trump took office, according to lobbying-disclosure reports compiled by the nonprofit Center for Responsive Politics. Commerce Secretary Wilbur Ross tried to cut a deal with Chinese leaders last year, but it was rejected by Trump at the last moment, leading to the escalation this year.

2 p.m. update: Florence within 110 miles of Wilmington
Spanish moss waved in the trees as the winds picked up in Wilmington , and floating docks bounced atop swells at Morehead City. We will have tropical storm force winds and rain and storm surge continues to be our main concern with extreme flooding.

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