in the vicinity
The United States, China should drop their tariffs?
Former Reagan economic advisor Art Laffer on the problems relating to tariffs and the trump-government trade talks with China.
The Trump administration has, once again, the threat to place a 25-percent tariffs on $ 50 billion of Chinese goods in retaliation for what it says are China’s unfair trade practices.
The White house said on Tuesday that Chinese investment in the United States and limit U.S. exports of high-tech goods to China would be limited.
The announcement of strengthened economies in the high-stakes trading, the confrontation between the world’s two largest economies. Trade Minister Wilbur Ross planned visit to Beijing on Saturday to a round table.
The White house said it is said the opponents of the duties on the cutting-edge technologies, including those of China, they want to dominate as part of the “Made in China 2025” program. Under this program, China has a leading role in the development of technologies in areas such as artificial intelligence, robotics, and electric cars wants.
The list of imports to be covered will be announced by June 15, the White house said, and the tariffs will be imposed “shortly thereafter.” The list is on the basis of an earlier compilation of 1,300, published in April, concentrated, and based on public comments received administration.
Analysts said the extension of the tariff threat could disturb Ross the planned talks in China this weekend. Ross ‘ s trip was originally intended to the details of a vague promise from China may 19, increase their purchases of U.S. farm goods and natural gas.
“When Beijing was under the impression that Trump, you can use the $50 billion, the tariffs were, in fact, hold on, will find this confusing,” Chad Bown, senior fellow at the Peterson Institute for International Economics, said. “It could make it very difficult to well Wilbur Ross visit.”
Trump has decried the massive U.S. trade deficit with China — $337 billion in the last year — as evidence that Beijing was complicit in unfair trade practices.
The United States also have complained about for a long time that China is forcing US to share commercial technology with Chinese firms through joint-ventures, in order to access to your market.
Trump has often focused on the trade deficit, urging China to boost imports and lower the gap of $ 200 billion, while China has refused to agree to all of the dollar amounts.
Many experts and U.S. companies, however, warn that China’s efforts to protect its high-tech industries and capture the US-technology is the bigger threat.