US President Trump officially signed a trade memorandum on China at the White House. Trump announced on the spot that it would be possible to impose tariffs on $60 billion of goods imported from China and restrict Chinese companies from investing in the United States. The purpose behind it is to directly point to China's strong country plan - " Made in China 2025 ". Let's take a look at the related content with the industrial control editor.
Trump Announces Tax Increase on US$60 Billion of Chinese ImportsAccording to the "memorandum" that he has signed to impose sanctions on China, tariffs will be imposed on Chinese imports worth about $60 billion.
According to the latest report of The New York Times, these Chinese products that will be subject to tariffs cover about 1,300 kinds of shoes, clothes and electronic products. The specific details will be announced by the US Trade Department approximately 15 days later.
According to the memorandum signed on the same day, the Office of the US Trade Representative will formulate specific plans for tariffs on Chinese goods within 15 days. At the same time, the Office of the US Trade Representative will also sue China to the World Trade Organization on relevant issues. In addition, the US Treasury will introduce a plan within 60 days to restrict Chinese companies from investing in US companies.
In this way, the previous tariffs on steel and aluminum were only the predecessors of this trade war, and the memorandum signed by Trump today can be seen as the official beginning of the trade war.
Trump said that the US trade deficit with China has gone out of control. He also said that the trade between the United States and the European Union and South Korea is not fair. In his original words: China’s trade surplus with the United States is about 500 billion US dollars, while the trade deficit between the United States and the world is 800 billion US dollars, which means that China alone accounts for more than half.
Subsequently, he announced that he would impose tariffs on goods imported from China based on the “301 Survey†conducted by US Trade Representative Wright Heze last year. “The goods involved may cost $60 billion (It could be about $60 billion),†he said.
Trump signed a trade memo and said, "This is the first of many."
Popular Science: "301 Survey"
The so-called "301 investigation" is derived from Article 301 of the US Trade Act of 1974. The provision authorizes US trade representatives to initiate investigations into “unreasonable or unfair trade practices†in other countries and may recommend US Presidents to impose unilateral sanctions after the investigation, including the abolition of trade preferences and the imposition of retaliatory tariffs. This investigation was initiated, investigated, decided, and executed by the United States itself and has a strong unilateralism.
To put it simply, the 301 investigation is that the United States feels that it is uncomfortable to do business with you. If you need to engage you or let you listen, then it will start an investigation process to see if you are doing business. Misconduct. If there is, then he can unilaterally take measures that are beneficial to it.
Article 301, a "nuclear weapon" in the US trade war, was used in Japan in the 1980s, forcing Japan to make huge concessions in terms of automobile exports. Section 301 allows the United States to take unilateral actions to counter the violation of US rights that arise in trade.
The sword refers to " Made in China 2025 "
Officials from the US Trade Representative Office said that the tariff list will cover 1,300 products, including aerospace products, modern railways, new energy vehicles, information technology, machinery and high-tech products.
Seeing the words of information technology, machinery, etc. Do you understand the intention of this trade war?
US Trade Representative Wright Heze said in the US Senate Committee on Financial Problems that he should levy tariffs on which products: "The products made in the "Made in China 2025" plan, they said that these areas will be self-sufficient in two to three years, and Dominant in the world, if China achieves this status, then this is very bad for the United States."
In contrast to the Chinese content of "Made in China 2025", Wall Street has summarized the above target industries of Lettisher as follows:
A new generation of information technology, high-performance CNC machine tools and industrial robots, aerospace equipment, offshore engineering equipment, high-tech ships, new energy equipment, high-speed rail equipment, agricultural machinery and equipment, new materials, biomedicine and high-performance medical equipment.
The above statement by Wright Heze is not an accident. Wall Street News This week's article quoted media sources as saying that in the dialogue with the US Congress, the US Trade Representative Office stressed that the US government's actions will "minimize the impact on consumers and affect China to the greatest extent." The goal is to undermine the "Made in China 2025" program.
Last weekend, Wall Street said that Harvard University economics professor MarTIn Feldstein believes that the focus of the US trade war is not on the steel and aluminum products that are protected by tariffs this month. The United States feels that the biggest threat is China’s “stealing†US technology and trade wars. The ultimate goal is China.
Therefore, Trump's trade bar is not only aimed at the total value of 60 billion US dollars, he is targeting China's strong country strategy "Made in China 2025"!
This plan, considered to be China's latest powerhouse plan, is a key step in China's realization of a great power.
Don't forget, what is the key shift in the US from the Obama administration to the Trump administration? Or what is Trump's core national strategy? It is to revive US manufacturing. Since we want to reinvigorate the US manufacturing industry, how can we tolerate the rise of China's manufacturing industry?
Since Trump described the current trade war as "just starting", what other possible tricks for Trump's follow-up have not yet been put on the table?
This is going to return to one of the key figures in this round of trade warfare. It can also be called the trade warfare trader Letter Heze.
Wright Heze is a US trade representative who directly manipulates the specific details of the trade war, including the implementation of the 301 investigation and the determination of the types of goods subject to tariffs. What is special about his role?
Time is going back to Japan more than 30 years ago.
As is known to all, before 1985, Japan’s economy was very strong, with the second largest amount. The per capita GDP surpassed that of the United States. Japanese manufacturing swept the US market, and Japanese companies were considered to buy the entire United States. At the same time, the US trade deficit with Japan accounted for more than 50% of the total US deficit, and the US trade deficit and fiscal deficit continued to increase.
Later, the United States began to take the initiative to launch a trade war against Japan. The trader of the time, the US trade deputy, is not someone else, it is the trade representative of the trade war with China today, Wright Heze.
Thirty years have passed, and the familiar formula is still familiar. Wright Hize started with steel in Japan and made it famous.
The trade war against Japan was followed by the famous "Plaza Agreement," which forced the yen to appreciate 50% against the dollar in three years. This agreement directly smashed Japan's crazy asset price bubble and caused a devastating blow to Japan's exports. Since then, the Japanese economy has experienced “lost†for decades. Everything "prosperity" and "brilliance" came to an abrupt end.
In contrast, the current China, and the Japanese in that year, are very similar?
China's domineering counterattack: to fight to the end!After the news that Trump signed a trade memorandum with China, the Chinese side responded to this for the first time. On the morning of Friday (March 23) Beijing time, the Chinese Ministry of Commerce responded strongly. The embassy in the United States is even more vocal: if the US insists on playing, we will stay with you!
Chinese Ministry of Commerce:
A spokesperson for the Ministry of Commerce made a statement on China's announcement of a list of suspension concessions for the US import of steel and aluminum products.
On March 23, 2018, the Ministry of Commerce issued a list of suspension concessions for the US import of steel and aluminum products 232 measures and solicited public comments. It is proposed to impose tariffs on some products imported from the United States to balance the import of steel and Aluminum products are subject to tariffs and losses caused by Chinese interests. A spokesperson for the Ministry of Commerce made a statement on this.
The list tentatively includes 7 categories and 128 tax items. According to 2017 statistics, it involves US exports of about US$3 billion to China. The first part consists of 120 taxes, involving US$977 million in exports to China, including fresh fruits, dried fruits and nut products, wine, modified ethanol, American ginseng, seamless steel pipes, etc., and is subject to a 15% tariff. The second part consists of 8 taxes, involving US$1.992 billion in exports to China, including pork and products, and recycling of aluminum. It is proposed to impose a 25% tariff.
China imposes a tariff list on 128 tax items in the United States:
The US side imposed a 25% and 10% tariff on imported steel and aluminum products on the grounds of “national securityâ€, which actually constitutes a safeguard. The Chinese side has formulated a suspension list in accordance with the relevant provisions of the WTO Agreement on Safeguards. If China and the United States fail to reach a trade compensation agreement within the stipulated time, China will exercise the right to suspend the first part of the product; China will implement the second part of the list after further evaluating the impact of the US measures on China. China reserves the right to adjust the measures according to actual conditions and will perform the necessary procedures in accordance with relevant WTO rules.
The United States’ restrictions on product imports on the grounds of “national security†have seriously undermined the multilateral trading system represented by the WTO and seriously interfered with the normal international trade order. It has been opposed by many WTO members. The Chinese side has also negotiated with the US through multiple levels and channels, and will take legal action under the WTO framework to jointly maintain the stability and authority of multilateral trade rules with other WTO members.
As the world's two largest economies, China and the United States are the only correct choices for the two countries. They hope that the two sides will proceed from the overall situation of China and the United States, work in the same direction, focus on cooperation, control differences, and jointly promote the healthy and stable development of China-US economic and trade relations. China urges the US to resolve China's concerns as soon as possible, resolve differences between the two sides through dialogue and consultation, and avoid damage to China-US cooperation.
A spokesperson for the Ministry of Commerce made a statement on the US 301 investigation decision:
On March 22nd, the US President Trump signed a memorandum, based on the investigation report on China 301 announced by the US Trade Representative Office, instructing relevant departments to take restrictive measures against China.
The US side ignores the fact that China has strengthened intellectual property protection, ignored the rules of the WTO, and ignored the voices of the vast number of industries. It is a typical unilateralism and trade protectionism. China firmly opposes it. The US move is not conducive to the interests of the Chinese side, is not conducive to the interests of the US, is not conducive to global interests, and has set a very bad precedent. Under any circumstance, China will not sit idly by to protect its legitimate rights and interests. We are fully prepared to resolutely defend our legitimate interests.
Regarding the 301 investigation, the Chinese side has clearly stated its position on many occasions. China does not want to fight trade, but it is not afraid of trade wars. We have the confidence and ability to cope with any challenges. I hope that the US will be on the verge of a cliff and make careful decisions. Do not drag bilateral economic and trade relations into danger.
Chinese Foreign Ministry responded
In response, Chinese Foreign Ministry spokesperson Hua Chunying said at a regular press conference at 27 that China is highly concerned about the current state of affairs. China is firmly opposed to any use of chemical weapons. At the same time, we believe that the Scripal incident should be properly handled through dialogue between the United Kingdom and Russia on the basis of clarifying the facts. The countries concerned should earnestly abide by the basic norms of international law and international relations and refrain from any measures to intensify contradictions. In the current international community facing many challenges, we believe that countries should abandon the Cold War mentality, give up confrontation, work together to maintain world peace, stability and tranquility, and work together to build a new type of international relations of mutual respect, fairness, justice, cooperation and win-win.
Automotive Connector 27P External Thread Assembly
Automotive Connector 27P External Thread Assembly
Automotive Connector 27P External Thread Assembly
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