On Thursday, China's Commerce Ministry denied that President Xi Jinping's promise to "Significantly lower" tariffs on imported vehicles this year was made in response to complaints from President Donald Trump.
Tuesday, at the Boao Forum for Asia, known as "China Davos," Xi also made other market-opening pledges in his keynote address.
Monday morning, the American leader pointed out in a tweet that cars imported into the United States from China were tariffed at 2.5 percent while American cars entering the Chinese market attracted a 25 percent duty.
Clinton, in accepting that disparity, was perhaps arrogant, thinking China was a long way from making cars for the American market.
Alan Tonelson, a Washington, D.C.-based trade expert, pointed out in comments to The National Interest that "China uses so many different measures to hamstring foreign competitors that a pledge to ease up on one can easily be offset by a decision to double down on another." There are Chinese structural barriers to reciprocal auto trade, and Xi this week promised to take down none of them.
"I would've expected words like 'China will fight to the end.' Those are the words that came out from the Chinese embassy the day Trump announced the tariffs," Michael Pillsbury, author of The Hundred-Year Marathon: China's Secret Strategy to Replace America as the Global Superpower, told Fortune.
Trump has imposed steel and aluminum tariffs pursuant to Section 232 of the Trade Expansion Act of 1962 and has threatened both tariffs pursuant to Section 301 of the Trade Act of 1974 and investment curbs on Chinese acquisitions.
http://nationalinterest.org/feature/china-trade-donald-trump-stares-xi-jinping-blinks-25337
Tuesday, at the Boao Forum for Asia, known as "China Davos," Xi also made other market-opening pledges in his keynote address.
Monday morning, the American leader pointed out in a tweet that cars imported into the United States from China were tariffed at 2.5 percent while American cars entering the Chinese market attracted a 25 percent duty.
Clinton, in accepting that disparity, was perhaps arrogant, thinking China was a long way from making cars for the American market.
Alan Tonelson, a Washington, D.C.-based trade expert, pointed out in comments to The National Interest that "China uses so many different measures to hamstring foreign competitors that a pledge to ease up on one can easily be offset by a decision to double down on another." There are Chinese structural barriers to reciprocal auto trade, and Xi this week promised to take down none of them.
"I would've expected words like 'China will fight to the end.' Those are the words that came out from the Chinese embassy the day Trump announced the tariffs," Michael Pillsbury, author of The Hundred-Year Marathon: China's Secret Strategy to Replace America as the Global Superpower, told Fortune.
Trump has imposed steel and aluminum tariffs pursuant to Section 232 of the Trade Expansion Act of 1962 and has threatened both tariffs pursuant to Section 301 of the Trade Act of 1974 and investment curbs on Chinese acquisitions.
http://nationalinterest.org/feature/china-trade-donald-trump-stares-xi-jinping-blinks-25337
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