US Treasury Chief: Trump ‘Perfectly Happy’ to Tax More Chinese Imports

Posted: June 9, 2019, 10:05 am

US Treasury Chief: Trump 'Perfectly Happy' to Tax More Chinese Imports U.S. Treasury Secretary Steven Mnuchin talks with a delegate during the G-20 finance ministers and central bank governors meeting in Fukuoka, Japan, June 8, 2019. WASHINGTON — U.S. Treasury chief Steven Mnuchin said Sunday that President Donald Trump would be “perfectly happy” to tax more imports from China if the U.S. leader cannot reach a trade deal with Chinese President Xi Jinping when they meet later this month.
“We made enormous progress, I think we had a deal that was almost 90% done,” Mnuchin told CNBC. “China wanted to go backwards on certain things,” which Beijing has denied.
“We’ve stopped negotiating,” Mnuchin said, with the next steps depending on Trump's meeting with Xi in Osaka, Japan at the G-20 meeting of world leaders at the end of June.
/**/ /**/ /**/ SEE ALSO: With Mexico Deal Done, US Urges China to Resume Trade Talks “The president will make a decision [on tariffs] after the m..

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Acting US Defense Chief Criticizes China’s Bad Behavior

Posted: June 1, 2019, 7:55 am

Acting US Defense Chief Criticizes China's Bad Behavior Acting U.S. Secretary of Defense Patrick Shanahan, center, and Chinese Minister of National Defense Gen. Wei Fenghe, right, attend a ministerial luncheon on the sidelines of the 18th International Institute for Strategic Studies (IISS) Shangri-la Dialogue VOA Mandarin service's Libo Lui contributed to this report
SINGAPORE – Since the first week acting U.S. Defense Secretary Pat Shanahan took the reins at the Pentagon, he’s said his top concern is “China, China, China.”
On Saturday, Shanahan told an audience at the annual Shangri-La defense forum that the U.S. would not ignore Chinese behavior, which he says has threatened prosperity in the region.
“It's not about conflict. It's not about building walls. This is about security,” Shanahan said.
China is infamous for its theft of other nations’ military and civilian technology, and the U.S. secretary said he took issue with Beijing's cyber attacks and st..

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Trump: China Maybe Regrets Backtracking on Trade Provisions

Posted: May 30, 2019, 11:41 am

Trump: China Maybe Regrets Backtracking on Trade Provisions President Donald Trump talks with reporters before departing on Marine One, May 30, 2019, in Washington. President Donald Trump said Thursday he still believes China “would love to make” a new trade deal with the United States and might now regret backtracking on some agreements negotiators for the two countries had reached.
“We had a deal and they broke the deal,” Trump said at the White House. “I think if they had to do it again they wouldn't have done what they did.”
Trump contended that tariffs he has imposed on hundreds of billions of dollars worth of Chinese imports has prompted some manufacturers in China to move their production to other countries.
“I think we're doing very well with China,” he said, adding that tariffs have had little effect on inflation in the U.S.
Trade talks between officials of the world's two biggest economies broke off recently, but U.S. Treasury Secretary Steven Mnuchin has s..

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North Korea Blames US for Failed Talks in Vietnam

Posted: May 24, 2019, 11:09 am

North Korea Blames US for Failed Talks in Vietnam FILE – U.S. President Donald Trump looks toward North Korean leader Kim Jong Un during the one-on-one bilateral meeting at the second North Korea-U.S. summit in Hanoi, Vietnam, Feb. 28, 2019. North Korea is blaming the United States for deadlocked nuclear negotiations, vowing they will “never be resumed” unless Washington abandons demands for disarmament.
U.S. President Donald Trump's second summit with North Korean leader Kim Jong Un in Hanoi ended in February without agreements on sanctions relief for Pyongyang and on concessions the North would make regarding its banned nuclear and ballistic programs.
A statement issued Friday through Pyongyang's official Korean Central News Agency, citing a North Korean spokesman, accused the U.S. of intentionally causing the talks to collapse with impossible demands.
FILE – Flag-draped transfer cases with the remains of American soldiers repatriated from North Korea are seen during a r..

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US Senator Convening Meetings to Warn Business, Academia of China Threat

Posted: May 19, 2019, 10:49 pm

US Senator Convening Meetings to Warn Business, Academia of China Threat FILE – Sen. Mark Warner, D-Va., speaks after hearing some of the testimony from Michael Cohen, President Donald Trump's former lawyer, before a closed door hearing of the Senate Intelligence Committee on Capitol Hill, Feb. 26, 2019, in Washington. U.S. Senator Mark Warner said on Sunday that he has been organizing meetings between U.S. intelligence officials and the country's business and academic communities to urge caution in their relationships with China.
“I have been convening meetings between the intelligence community and outside stakeholders in business and academia to ensure they have the full threat picture and hopefully, make different decisions about Chinese partnerships,” Warner said in a statement.
Accusing China of undermining U.S. security, Warner, a Democrat, said the meetings were aimed at increasing awareness about tactics used by China against the United States.
In a series of clas..

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Trump Signs Order to Safeguard US Telecom Networks

Posted: May 15, 2019, 5:05 pm

Trump Signs Order to Safeguard US Telecom Networks FILE – Huawei's logo is seen at its showroom in Shenzhen, Guangdong province, China, March 29, 2019. President Donald Trump on Wednesday signed an executive order declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk, paving the way for a ban on doing business with China's Huawei Technologies Co.
Reuters reported Tuesday that Trump was expected to take action on the long-awaited proposal this week.
The executive order invokes the International Emergency Economic Powers Act, which gives the president the authority to regulate commerce in response to a national emergency that threatens the United States.
The order directs the Commerce Department, working with other government agencies, to draw up a plan for enforcement.

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US Expects China Tariff Retaliation

Posted: May 12, 2019, 11:48 am

US Expects China Tariff Retaliation FILE – White House chief economic adviser Larry Kudlow speaks at an Opportunity Zone conference in South Court Auditorium of the Eisenhower Executive Office Building, on the White House complex, April 17, 2019. WASHINGTON — The U.S. said Sunday it expects that China will retaliate with increased tariffs on U.S. exports after President Donald Trump sharply boosted levies on Chinese products headed to the United States.
Chief White House economic adviser Larry Kudlow told “Fox News Sunday” that “both sides will suffer” from the escalating trade war between the U.S. and China, the world's two biggest economies.
In the U.S., he said that “maybe the toughest burdens” are on farmers who sell soybeans, corn and wheat to China. But he said the Trump administration has “helped them before on lost exports” with $12 billion in subsidies and that “we'll do it again if we have to and if the numbers show that out.”
SEE ALSO: US to Raise Tariffs on Chi..

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Politico: Trump Downplays N. Korea Missile Launches

Posted: May 10, 2019, 9:53 pm

Politico: Trump Downplays N. Korea Missile Launches FILE – In this May 5, 2019, photo, people watch a TV showing a photo of North Korean leader Kim Jong Un during a news program reporting a North Korean missile launch, at the Seoul Railway Station in Seoul, South Korea. North Korea tested two more missiles on May 9. WASHINGTON — U.S. President Donald Trump said Friday that he did not not consider North Korea's recent launch of short-range ballistic missiles “a breach of trust.”
In an interview with Politico, Trump downplayed the missile tests by North Korea, calling them “very standard stuff.”
“They're short-range and I don't consider that a breach of trust at all. And, you know, at some point I may. But at this point, no,” Trump said.
North Korea fired two short-range missiles on Thursday, its second such test in less than a week.
The Pentagon said the launches consisted of ballistic missiles that flew in excess of 300 km (185 miles) and landed in the ocean.

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AP Fact Check: Trump’s Tweets on Trade Battle With China 

Posted: May 10, 2019, 3:47 pm

AP Fact Check: Trump's Tweets on Trade Battle With China A bulk carrier ship is loaded, May 10, 2019, at the Temco grain terminal at the Port of Tacoma in Tacoma, Wash. U.S. and Chinese negotiators resumed trade talks Friday under increasing pressure after President Donald Trump raised tariffs on $200 billion in Chinese goods. WASHINGTON — President Donald Trump let loose with a morning round of tweets Friday that downplayed the possible consequences of his trade war with China.
Trump minimized the worth of China's purchases of U.S. goods and services, which support nearly 1 million jobs in the U.S.; misstated the trade deficit; and ignored the inevitable rise in many costs to consumers when imports are heavily taxed.
The tweets came as his tariffs kicked in on $200 billion worth of Chinese goods, with another round of tariffs in the offing, and as U.S. and Chinese officials negotiated in Washington. With trade relations between the economic giants seemingly rupturing and t..

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US Lawmakers Praise Taiwan as Alternative to China

Posted: May 9, 2019, 1:08 am

US Lawmakers Praise Taiwan as Alternative to China U.S. House Speaker Nancy Pelosi, center, posed with Taiwan's representative to the U.S. Stanley Kao and Mrs. Kao at event marking the 40th anniversary of the enactment of the Taiwan Relations Act, May 8, 2019, at the U.S. Capitol Building. WASHINGTON — U.S. lawmakers used an event at the Capitol Wednesday night to praise Taiwan as an ally and a healthy alternative to China.
Relations between Washington and Beijing have been strained because of a growing trade dispute, China’s unwillingness to democratize and the threat of the spread of its illiberal influence as it reaches more regions of the world.
Wednesday marked the 40th anniversary of the enactment of the Taiwan Relations Act, which provides a framework for continuing bilateral ties after Washington established official diplomatic ties with Beijing in 1979.
Taiwan's representative to the U.S., Stanley Kao, looks on as Rep. Scott Perry (R-PA) speaks at event marking th..

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