Trump's pro-American trade policy is just what he promised

10 March, 2018, 01:48 | Author: Edward Snyder
  • Trump's pro-American trade policy is just what he promised

Wang spoke on the fringes of China's annual, largely ceremonial legislative session at a news conference, where he was asked whether China's recent efforts to push for peace talks in Myanmar and between Israeli and Palestinian delegations, for instance, represented a shift in its longstanding non-interference foreign policy.

"China's position is firm and consistent", said Mr Wang.

China is a strategic threat to the United States and if we rely on them for steel, then we will not be able to produce steel if we are ever in conflict with China.

China warned the United States on Thursday that everyone would be harmed if President Donald Trump launches a trade war, as official figures showed the Asian power maintained a robust trade surplus with the U.S.

"We look forward to seeing what ideas they come back with".

U.S. imports from China of steel and aluminium make up a small proportion of its total imports from the world's second largest economy. "But there are few alternative sources for the main products the United States buys from China", the research firm said in a note on Wednesday.

China's foreign minister Wang Yi called on the United States and North Korea to have talks as soon as possible.

Trump is also considering potential trade sanctions against China under a "section 301" investigation into its intellectual property practices and pressure on foreign companies for technology transfers.

China follows a responsible approach to the South China Sea issue, taking into account interests of the Chinese people, historical facts, regional peace and the global rule of law, he added. Trump tweeted hours before Wang took the stage in Beijing.

When Liu He, a senior Chinese official involved in shaping Beijing's economic policies, visited Washington last week to discuss bilateral trade with U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn.

"The lessons of history show engaging in a trade war is never the right way to resolve problems", said foreign minister Wang.

He pointed out that as a permanent member of the UN Security Council, China takes seriously of its responsibility for maintaining global security.

The Commerce Department said Wednesday that the trade deficit rose to $56.6 billion in January, up 5 percent from $53.9 billion in December and the highest since October 2008's $60.2 billion trade gap. He blames persistent deficits on abusive practices by US trading partners and on bad trade deals that put American companies at a disadvantage or encourage them to move factories overseas.

Trump upset America's allies last week by vowing to slap tariffs of 25 percent on imported steel and 10 percent on aluminum.



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