Chinese state-run media promises consequences for Apple, others if Trump starts trade war
China has threatened that a trade war against the country will result in more harm to the U.S., with a state-run paper threatening that the government will take "countermeasures" against Apple's iPhone and the automotive industry if an economic conflict comes to pass.
"China will take a tit-for-tat approach then," the editorial by the Global Times declares. "A batch of Boeing orders will be replaced by Airbus. US auto and iPhone sales in China will suffer a setback, and US soybean and maize imports will be halted. China can also limit the number of Chinese students studying in the US."
The publication also points out that a U.S. president can only increase tariffs on all imported products from any country for 15 percent over 150 days. Higher tariffs must specify which goods in detail, such as President Obama's 35 percent tariff on Chinese tires in 2009.
"If Trump wrecks Sino-US trade, a number of US industries will be impaired," said the editorial. "Finally the new president will be condemned for his recklessness, ignorance and incompetence and bear all the consequences."
According to other Chinese media, President-Elect Trump spoke with Chinese President Xi Jinping on Monday, with the two men promising to meet "at an early date."
Apple manufactures the Mac Pro in Austin, Texas. The remainder of Apple's products are manufactured in China, and potentially India in the days to come.
Points 5 through 7 of Trump's "7 point plan to rebuild the American economy by fighting for free trade" could be considered hostile to China's interests.
In the plan, Trump declares that in the first 100 days of office, the treasury secretary will be directed to label China a currency manipulator, and the trade representative to China will bring trade cases against China specifically addressing unfair subsidy behavior.
Point 7 of the plan promises to bring to bear "every lawful presidential power to remedy trade disputes if China does not stop its illegal activities."
"China will take a tit-for-tat approach then," the editorial by the Global Times declares. "A batch of Boeing orders will be replaced by Airbus. US auto and iPhone sales in China will suffer a setback, and US soybean and maize imports will be halted. China can also limit the number of Chinese students studying in the US."
The publication also points out that a U.S. president can only increase tariffs on all imported products from any country for 15 percent over 150 days. Higher tariffs must specify which goods in detail, such as President Obama's 35 percent tariff on Chinese tires in 2009.
"If Trump wrecks Sino-US trade, a number of US industries will be impaired," said the editorial. "Finally the new president will be condemned for his recklessness, ignorance and incompetence and bear all the consequences."
According to other Chinese media, President-Elect Trump spoke with Chinese President Xi Jinping on Monday, with the two men promising to meet "at an early date."
Gearing up for a battle with China, and U.S. businesses
In January, Trump promised that he would force Apple to manufacture its hardware in the US instead of utilizing to overseas labor, and proposed a 35 percent tax on businesses making goods overseas, rather than by U.S factories.Apple manufactures the Mac Pro in Austin, Texas. The remainder of Apple's products are manufactured in China, and potentially India in the days to come.
Points 5 through 7 of Trump's "7 point plan to rebuild the American economy by fighting for free trade" could be considered hostile to China's interests.
In the plan, Trump declares that in the first 100 days of office, the treasury secretary will be directed to label China a currency manipulator, and the trade representative to China will bring trade cases against China specifically addressing unfair subsidy behavior.
Point 7 of the plan promises to bring to bear "every lawful presidential power to remedy trade disputes if China does not stop its illegal activities."
Comments
Let's just hope it's bullshit he spouted—as he does—merely to fool Americans into electing him. I get that Americans didn't want Hilary, but boy that's little choice there. One big fat big liar and another little skinny big fat liar. Like Pepsi or Pepsi with extra sugar thrown in.
If only.
His voters DO take him seriously and literally and that's what scare so many people. Trump will have access to the that big button, do you really think he has the temperament to use that power wisely? His own history has shown he doesn't. Just so all you Trumpsters and non Americans understand things, the US is owned by foreign countries, which puts us in a bad predicament, one that could bankrupt this country at any moment. Wanting Trump to get better "deals" for this country means he will sell out the people who voted for him because those people only cost him money. The President isn't supposed to be the CEO of the country, they're supposed to be the guiding force for truth and justice for all Americans, not just the businesses. Republicans have never cared about the 99%, except during elections.
27% of Americans voted for Trump (not me)
27% of Americans voted for Clinton (also not me)
2% voted third party ( would have been me if I hadn't had issues on Election Day)
44% of Americans didn't vote
Trump won with fewer votes than Romney and McCain (ugh) but Clinton finished around 7 million less than Obama.
Trump is a con man who is not even a Republican, much less a conservative. Protectionism is a liberal policy with shades of nationalism, while free trade is a conservative policy.
The choices this time around were horrible, and I can tell you that not very many of his voters take him literally or seriously, but just couldn't stomach another Clinton in the WH. He didn't win because voter's liked him, he won because voters couldn't stand her.
This hurts Chinese more than it hurts anyone else, limiting their students is a fool's errand. Of course so is Communism & Socialism. *rolls eyes*
He promised he would do it.
If he doesn't do it, he's a liar.
But.
He also promised to grow the US economy.
And. If he keeps his promise on China trade, then the US economy will suffer greatly.
Therefore. He cannot keep both of these promises. These two cornerstones of his campaign are simply incompatible.
You cannot be anti China trade and pro US growth at the same time.
Ay, there's the rub.
I didn't vote for another entity to place their vote... I voted for the president... oh well...