President Trump goes off script

Adjust Comment Print

Forty-five USA trade associations representing some of the largest companies in the country urge Trump not to impose tariffs on China, warning it would be "particularly harmful" to the US economy and consumers.

European shares followed their Asian counterparts into the red but the falls were limited, and the broader ups and downs for markets this week suggest investors are not yet convinced the row will escalate into a full-blown trade war that threatens global economic growth.

Federal law prohibits the use of active-duty service members for law enforcement inside the US, unless specifically authorized by Congress.

"I can assure you that our resources will still be dedicated to making sure our warfighters get what they need when they need it", she said.

As Trump railed against the diversity visa lottery, he again repeated his (erroneous) claim that foreign countries are "not putting their good ones" in the lottery, and recalled the speech which kicked off his long-shot presidential campaign in 2015. It is primarily aimed at countering China's "Made in China 2025" policy to develop high-tech products in the areas of communications, robotics and pharmaceuticals, which is regarded as direct threat to USA economic and military dominance. "If a trade war were initiated by the U.S., China would fight to the end to defend its own legitimate interests with all necessary measures".

"A 25 percent tariff on US soybeans into China will have a devastating effect on every soybean farmer in America", John Heisdorffer, president of the American Soybean Association, said in a statement on Wednesday. Euro zone government bond yields also dipped as the trade dispute between the United States and China flared.

Administration officials said Wednesday that the discussions with Texas Gov. Greg Abbott and other border governors are ongoing but stressed the move would happen quickly. Prices would rise, though likely only slightly. They have provided less than a tenth of the $18 billion Trump requested.

The steps taken so far shouldn't have much of an impact.

More news: Trump defends Sinclair broadcasting after critical video
More news: Sapporo among 7 interested in hosting 2026 Winter Olympics
More news: Schlitterbahn waterslide designer arrested, facing murder charges

Friday's US non-farm payrolls report, due at 1230 GMT, could determine the pace of future Federal Reserve interest rate rises and the dollar's direction. And imports from all countries amount to just 15 percent of the economy.

One congressional aide said that lawmakers anticipate 300 to 1,200 troops will be deployed and that the cost was expected to be at least $60 million to $120 million a year. "A lot of them aren't going to be voting".

Still, specific industries would feel some pain if threats of higher tariffs are carried out. U.S. Northeastern and Midwestern markets always have procured paper primarily from Canada.

Automakers such as Tesla, BMW and Mercedes-Benz would also be hit. "This has been widely reported for years". Tesla expects to sell about 15 percent of its Model S and Model X cars in China this year. Most economists say they are caused by bigger economic forces, mainly the fact that the United States consistently spends more than it produces.

"There is time for an agreement that can both satisfy USA farmers and protect US companies and employees who have suffered because of past Chinese actions", Hurst says.

The initial list of tariff proposals excluded most consumer products, such as furniture, clothes and phones, as it sought to target Chinese components in manufacturing industries.

"We continue to believe both countries value a vibrant auto industry and understand the interdependence between the world's two largest automotive markets", the statement from GM said.

Comments