Subscribe to our free daily newsletters
  Energy News  




Subscribe to our free daily newsletters



TRADE WARS
Trump action on China trade likely to have broad support
By Heather SCOTT
Washington (AFP) Aug 4, 2017


The sanctions that President Donald Trump is poised to slap on China for stealing intellectual property from US firms should earn broad support, allowing him to rebuild a power base in Congress sapped by the recent battle over health care.

The administration is expected very soon to announce actions against China for failing to protect industrial and trade secrets of US companies, a move that has the backing of Democrats.

Even trade experts, who have opposed many of Trump's trade actions so far and disputed his data, agree something must be done about China. But they worry about the consequences, especially retaliation by Beijing.

US companies have long complained about Chinese rules that force them to share intellectual property, leading to rampant theft of information with little impediment or enforcement.

"China is home to widespread infringing activity, including trade secret theft, rampant online piracy and counterfeiting, and high levels of physical pirated and counterfeit exports to markets around the globe," the US Trade Representative said in its annual report on IP issues published in April.

In addition, "China imposes requirements that US firms develop their IP in China or transfer their IP to Chinese entities as a condition to accessing the Chinese market."

But companies like Apple and Google find it hard to challenge Beijing for fear of losing access to the world's second-largest economy.

- US retaliation -

During the presidential campaign Trump vowed to hit China with a 45 percent tariff on all imported goods to address the trade deficit with the country, which totaled $309 billion last year.

But since he took office the administration has dialed back the fiery rhetoric and tried for cooperation, including trade talks last month rebranded as the US-China Comprehensive Economic Dialogue (CED).

But with little to show from those efforts, and no help from China in containing North Korea's nuclear weapons program, Trump has launched unilateral actions to address unfair trade in aluminum, steel and now IP.

"If Trump felt he was getting good cooperation on North Korea he would not be ramping up" the trade pressure against China, Gary Clyde Hufbauer of the Peterson Institute for International Economics told AFP.

A US trade statute known as Section 301 gives US presidents broad latitude to retaliate against any trade policy in another country deemed unfair.

Trade experts say the retaliation could come in the form of targeted tariffs against specific companies, like state-owned Chinese firms thought to be benefitting from American intellectual property.

Or the White House could impose broader sanctions, like across-the-board tariffs on imports or restrictions on Chinese investments in the United States, where companies face no restrictions.

While the statute has fallen into disuse since the advent of the World Trade Organization in 1995, which established global rules to settle disputes, Section 301 was used frequently during the Reagan administration largely to deal with the trade juggernaut of the time: Japan.

Trump and his team often have approached trade as if it can be addressed through bilateral deals, as it was during the 1980s, even trying to negotiate with Germany which is subject to European Union trade policies.

- Nationalist instincts -

"I don't trust (the Trump administration) because of their economic nationalist instincts, but in this case they're at least partially right," trade expert Claude Barfield of the conservative American Enterprise Institute told AFP.

He said he has reluctantly come to the view that something must be done about China's policies in this area, even while he views the Trump administration effort to forcibly cut trade deficits with individual countries as nonsense.

But he warned that in going after China, "you've got to be willing to face up to the fact there will be retaliation."

China likely will impose tariffs of its own, and file a WTO complaint against the United States, and public opinion might be in Beijing's favor defending itself from what would be seen as yet another Trump anti-free-trade move.

But at home Trump will have support of Democrats, always more skeptical of free trade than Republicans.

Senate minority leader Chuck Schumer on Wednesday urged Trump to move quickly on China, saying, "Tough talk and tweets are cheap, strong and decisive action is required."

And the Democratic Party issued a new trade policy statement which among other things calls for creation of a special trade prosecutor to go after unfair policies in other countries it says are responsible for stealing American jobs.

TRADE WARS
Washington plans trade measures against China: report
New York (AFP) Aug 2, 2017
The United States is planning to take trade measures against China to force it to crack down on theft of intellectual property, the Wall Street Journal reported late Tuesday. President Donald Trump's administration plans to invoke a little used clause in US trade law that allows America to probe whether China's intellectual-property policies constitute unfair trade practices, the paper said, ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
India must rethink infrastructure needs for 100 new 'smart' cities to be sustainable

Allowable 'carbon budget' most likely overestimated

Sparkling springs aid quest for underground heat energy sources

Google's 'moonshot' factory spins off geothermal unit

TRADE WARS
Scientists map ways forward for lithium-ion batteries for extreme environments

New chromium-based superconductor has an unusual electronic state

High-temperature superconductivity in B-doped Q-carbon

UMD engineers invent the first bio-compatible, ion current battery

TRADE WARS
U.S. wind power momentum up 40 percent from last year

Shale-rich Oklahoma to host mega-wind farm

ABB wins $30 million order to support integration of offshore wind energy in the UK

GE's renewables not enough to boost overall revenue

TRADE WARS
A new picture emerges on the origins of photosynthesis in a sun-loving bacteria

World Bank tries to make Pacific solar power decisions easier

Schneider Electric India commissions 720 kWp solar plant at its manufacturing facility in Vadodara

UNIST hits new world efficiency record with perovskite solar cells

TRADE WARS
Areva signs MOX fuel fabrication contract with Japan

Nuclear contaminates earnings of France's EDF

Underwater robot probes inside Fukushima reactor

Finland's TVO claims partial win in Areva nuclear dispute

TRADE WARS
New light-activated catalyst grabs CO2 to make ingredients for fuel

Algae cultivation technique could advance biofuels

Fungi that evolved to eat wood offer new biomass conversion tool

How enzymes produce hydrogen

TRADE WARS
Oman takes $3.55 bln China loan to cover budget deficit

Oil muted, but could get lift from demand

China defends gasfield activity in East China Sea

Europe mulling its options with Venezuela

TRADE WARS
Could spraying particles into marine clouds help cool the planet

Al Gore: I've given up on climate 'catastrophe' Trump

Could a geoengineering cocktail control the climate

New carbon-capturing membranes may reduce greenhouse gas emissions




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement