Skip to main content

Trade war, day 56: Trump ties North Korea to trade, again

Supchina.com

At this point, U.S.-China trade relations seem locked in to a tense state for months to come, with only a stalemate or further escalation seeming likely at least through November.

But now, Donald Trump reminded us of a third option: the dispute could also become more complicated and wide-ranging. Last evening, he tweeted out a White House statement yesterday evening:

“President Donald J. Trump feels strongly that North Korea is under tremendous pressure from China because of our major trade disputes with the Chinese Government,” the statement began, going on to say,“As for the U.S.-China trade disputes,and other differences, they will be resolved in time by President Trump and China’s great President Xi Jinping. Their relationship and bond remain very strong.”

There are a couple things to note about this statement:

This isn’t the first time Trump has connected the North Korea issue explicitly to the U.S.-China trading relationship.In December 2017, he told the New York Times (paywall), “China...If they’re helping me with North Korea, I can look at trade a little bit differently, at least for a period of time. And that’s what I’ve been doing,”On July 9, 2018, soon after the trade war officially started, he made the same accusation against China as now: that it “may be exerting negative pressure on a deal because of our posture on Chinese Trade.”Most experts don’t see the connection. Robert Kelly, a professor of political science at Pusan National University in South Korea, has some reactions to President Trump's statement, and experts generally don’t consider any country — even China — to have a decisive influence in North Korean foreign policy.Xi Jinping has never said, or even indicated through subordinates, that he shares any particular affection for Donald Trump.The Chinese Foreign Ministry outright mocked the implications of Trump’s statement, with a spokesperson describing it as “misrepresentative, irresponsible, nonsensical logic,” adding, “There really isn’t a normal person who is capable of understanding it,” the Asia Times reports.

Other trade war and related news:

Victims of the trade war
Bloomberg moves new forum for elites from China amid fallout of trade war / NYT (paywall)
Michael Bloomberg, the New York billionaire, has moved his “New Economy Forum” — a gathering of global business and political leaders — from Beijing to Singapore due to the political sensitivities of the trade war. Bloomberg is reportedly considering running for president in 2020, and “if that is the case, then keeping a distance from China could be advantageous, since it has become a punching bag for American politicians across ideologies,” the Times notes.Signals from Beijing
US ‘hard lines’ not helping to solve trade war, Beijing says / SCMP
China urges US to make 'right decision' as $200B tariffs near / Bloomberg (paywall)
“The U.S. should ‘take note of the calling from businesses and consumers in both countries, the fact that both countries are linked closely in the supply chain and the fundamental interest of the two peoples to make the right decision,’ Ministry of Commerce spokesman Gao Feng said at a regular briefing in Beijing on Thursday. Over 90 percent of businesses consulted on the tariffs oppose them, Gao said.”Financial risk and macro outlook
China banks managing $16 trillion can't stop talking about risk / Bloomberg (paywall)
China’s yuan sinks, but neither its central bank nor investors are showing signs of panic / SCMP

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…

Germany’s Siemens sets up Belt and Road office in Beijing

https://gbtimes.com/germanys-siemens-sets-up-belt-and-road-office-in-beijing
Germany’s Siemens sets up Belt and Road office in Beijingby Janne Suokas Mar 23, 2018 15:20 TRADEINVESTMENTBELT AND ROAD INITIATIVEGerman industrial and engineering group Siemens will set up a Belt and Road office in Beijing. surberFlickrCC BY 2.0
German industrial and engineering group Siemens will set up an office in Beijing to boost international cooperation under China’s Belt and Road initiative, the company said on Friday.The move will help strengthen Siemens’ cooperation with Chinese and international companies and expand business opportunities brought about by the Belt and Road initiative, according to the company’s statement.The Belt and Road initiative is China’s ambitious project to boost trade and infrastructure investment in more than 65 countries along the ancient Silk Road trade routes from Asia to Europe and Africa.Siemens said it had already partnered with hundreds of Chinese companies in overse…