Archive for ‘Republican’

15/05/2020

Trump says doesn’t want to talk to Xi, could even cut China ties

WASHINGTON (Reuters) – U.S. President Donald Trump signaled a further deterioration of his relationship with China over the coronavirus outbreak, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with the world’s second largest economy.

In an interview with Fox Business Network broadcast on Thursday, Trump said he was very disappointed with China’s failure to contain the disease and that the pandemic had cast a pall over his January trade deal with Beijing, which he has previously hailed as a major achievement.

“They should have never let this happen,” Trump said. “So I make a great trade deal and now I say this doesn’t feel the same to me. The ink was barely dry and the plague came over. And it doesn’t feel the same to me.”

Trump’s pique extended to Xi, with whom the U.S. president has said repeatedly he has a good relationship.

“But I just – right now I don’t want to speak to him,” Trump said in the interview, which was taped on Wednesday.

Trump was asked about a Republican senator’s suggestion that U.S. visas be denied to Chinese students applying to study in fields related to national security, such as quantum computing and artificial intelligence.

“There are many things we could do. We could do things. We could cut off the whole relationship,” he replied.

“Now, if you did, what would happen? You’d save $500 billion,” Trump said, referring to estimated U.S. annual imports from China, which he often refers to as lost money.

Chinese foreign ministry spokesman Zhao Lijian told reporters in Beijing on Friday that maintaining a steady bilateral relationship served the interests of both peoples and would be beneficial for world peace and stability.

“Both China and the U.S. should now be cooperating more on fighting the virus together, to cure patients and resume economic production, but this requires the U.S. to want to work with us on this,” Zhao said.

Trump’s remarks drew ridicule from Hu Xijin, editor in chief of China’s influential Global Times tabloid, who referred to the president’s much-criticized comments last month about how COVID-19, the disease caused by the coronavirus, might be treated.

“This president once suggested COVID-19 patients inject disinfectants,” Hu said on Twitter. “Remember this and you won’t be surprised when he said he could cut off the whole relationship with China.”

CONCERNED, REVIEWING OPTIONS

U.S. Treasury Secretary Steven Mnuchin told Fox Business Network China needed to provide a lot more information about the coronavirus and Trump was reviewing his options.

“The president is concerned. He’s reviewing all his options. Obviously, we’re very concerned about the impact of this virus on the economy, on American jobs, the health of the American public and the president is going to do everything to protect the economy and protect American workers,” Mnuchin said.

“It’s a difficult and complex matter and the president has made very clear, he wants more information. They didn’t let us in, they didn’t let us understand what was going on.”

Trump and his Republican backers have accused Beijing of failing to alert the world to the severity and scope of the coronavirus outbreak and of withholding data about the earliest cases. The pandemic has sparked a sharp global recession and threatened Trump’s November re-election chances.

The United States has been hardest hit by the pandemic, according to official data.

China insists it has been transparent, and, amid increasingly bitter exchanges, both sides have questioned the future of the trade deal.

Opponents of Trump have said that while China has much to answer for over the outbreak, he appears to be seeking to deflect attention from criticism over his response to the crisis.

Scott Kennedy of Washington’s Center for Strategic and International Studies think tank called Trump’s remarks “dangerous bravado.”

“Avoiding communication is not an effective strategy for solving a crisis that requires global cooperation. And cutting off the economic relationship would badly damage the American economy,” he said.

Michael Pillsbury, a China analyst who has worked as an outside adviser to Trump, told Reuters he believed the president was concerned that China not only wanted to re-negotiate the Phase 1 deal, but also had not been meeting goals in purchasing from United States.

He said that according to figures cited by the China Daily, China’s purchases of U.S. products in the first four months of this year were 3% less than during the same period last year.

“It’s not good news for reducing the trade deficit or helping our economy recover from the coronavirus crisis,” he said.

China took some additional steps towards the Phase 1 goals on Thursday, buying U.S. soybean oil for the first time in nearly two years and issued customs notices allowing imports of U.S. barley and blueberries.

An executive from Chinese state agriculture trading house COFCO said China was set to speed up purchases of U.S. farm goods to implement the Phase 1 deal.

While U.S. intelligence agencies have said the coronavirus does not appear manmade or genetically modified, Trump said in his interview that China should have stopped it at its source.

“Whether it came from the lab or came from the bats, it all came from China, and they should have stopped it,” he said.

“It got out of control.”

Source: Reuters

30/04/2020

Exclusive: Trump says China wants him to lose his bid for re-election

WASHINGTON (Reuters) – President Donald Trump said on Wednesday he believes China’s handling of the coronavirus is proof that Beijing “will do anything they can” to make him lose his re-election bid in November.

In an interview with Reuters in the Oval Office, Trump talked tough on China and said he was looking at different options in terms of consequences for Beijing over the virus. “I can do a lot,” he said.

Trump has been heaping blame on China for a global pandemic that has killed at least 60,000 people in the United States according to a Reuters tally, and thrown the U.S. economy into a deep recession, putting in jeopardy his hopes for another four-year term.

The Republican president, often accused of not acting early enough to prepare the United States for the spread of the virus, said he believed China should have been more active in letting the world know about the coronavirus much sooner.

Asked whether he was considering the use of tariffs or even debt write-offs for China, Trump would not offer specifics. “There are many things I can do,” he said. “We’re looking for what happened.”

“China will do anything they can to have me lose this race,” said Trump. He said he believes Beijing wants his Democratic opponent, Joe Biden, to win the race to ease the pressure Trump has placed on China over trade and other issues.

“They’re constantly using public relations to try to make it like they’re innocent parties,” he said of Chinese officials.

He said the trade deal that he concluded with Chinese President Xi Jinping aimed at reducing chronic U.S. trade deficits with China had been “upset very badly” by the economic fallout from the virus.

A senior Trump administration official, speaking on condition of anonymity, said on Wednesday that an informal “truce” in the war of words that Trump and Xi essentially agreed to in a phone call in late March now appeared to be over.

The two leaders had promised that their governments would do everything possible to cooperate to contain the coronavirus. In recent days, Washington and Beijing have traded increasingly bitter recriminations over the origin of the virus and the response to it.

However, Trump and his top aides, while stepping up their anti-China rhetoric, have stopped short of directly criticizing Xi, who the U.S. president has repeatedly called his “friend.”

Trump also said South Korea has agreed to pay the United States more money for a defense cooperation agreement but would not be drawn out on how much.

“We can make a deal. They want to make a deal,” Trump said. “They’ve agreed to pay a lot of money. They’re paying a lot more money than they did when I got here” in January 2017.

The United States stations roughly 28,500 troops in South Korea, a legacy of the 1950-53 Korean War that ended in an armistice, rather than a peace treaty.

Trump is leading a triage effort to try to keep the U.S. economy afloat through stimulus payments to individuals and companies while nudging state governors to carefully reopen their states as new infections decline.

Trump sounded wistful about the strong economy that he had enjoyed compared with now, when millions of people have lost their jobs and GDP is faltering.

“We were rocking before this happened. We had the greatest economy in history,” he said.

He said he is happy with the way many governors are operating under the strain of the virus but said some need to improve. He would not name names.

Trump’s handling of the virus has come under scrutiny. Forty-three percent of Americans approved of Trump’s handling of the coronavirus, according to the Reuters/Ipsos poll from April 27-28.

But there was some good coronavirus news, as Gilead Sciences Inc said its experimental antiviral drug remdesivir was showing progress in treating virus victims.

Trump has also seeking an accelerated timetable on development of a vaccine.

“I think things are moving along very nicely,” he said.

At the end of the half-hour interview, Trump offered lighthearted remarks about a newly released Navy video purportedly showing an unidentified flying object.

“I just wonder if it’s real,” he said. “That’s a hell of a video.”

Source: Reuters

23/02/2019

Trump says he’s inclined to extend China trade deadline and meet Xi soon

WASHINGTON (Reuters) – President Donald Trump said on Friday there was “a very good chance” the United States would strike a deal with China to end their trade war and that he was inclined to extend his March 1 tariff deadline and meet soon with Chinese President Xi Jinping.

“I think that we both feel there’s a very good chance a deal will happen,” Trump said.

Liu agreed there had been “great progress”.

“From China, we believe that (it) is very likely that it will happen and we hope that ultimately we’ll have a deal. And the Chinese side is ready to make our utmost effort,” he said at the White House.

The Republican president said he probably would meet with Xi in March in Florida to decide on the most important terms of a trade deal.

 

Optimism that the two sides will find a way to end the trade war lifted stocks, especially technology shares. The S&P 500 stock index reached its highest closing level since Nov. 8. Oil prices rose to their highest since mid-November, with Brent crude reaching a high of $67.73 a barrel. [.N] [O/R]

CURRENCY AGREEMENT

Trump and Treasury Secretary Steven Mnuchin said the two sides had reached an agreement on currency. Trump declined to provide details, but U.S. officials long have expressed concerns that China’s yuan is undervalued, giving China a trade advantage and partly offsetting U.S. tariffs.

Announcement of a pact aimed at limiting yuan depreciation was putting “the currency cart before the trade horse,” but would likely be positive for Asian emerging market currencies, said Alan Ruskin, global head of currency strategy at Deutsche Bank in New York.

“How can you agree to avoid excessive Chinese yuan depreciation or volatility if you have not made an agreement on trade that could have huge FX implications?” Ruskin asked in a note to clients.

In a letter to Trump read aloud by an aide to Liu at the White House, Xi called on negotiators to work hard to strike a deal that benefits both country.

Trump said a deal with China may extend beyond trade to encompass Chinese telecommunications companies Huawei Technologies and ZTE Corp.

The Justice Department has accused Huawei of conspiring to violate U.S. sanctions on Iran and of stealing robotic technology from T-Mobile US Inc.

Chinese peer ZTE was last year prevented from buying essential components from U.S. firms after pleading guilty to similar charges, crippling its operations.

MEMORANDUMS NO MORE

Trump appeared at odds with his top negotiator, U.S. Trade Representative Robert Lighthizer, on the preliminary terms that his team is outlining in memorandums of understanding for a deal with China. Trump said he did not like MOUs because they are short term, and he wanted a long-term deal.

“I don’t like MOUs because they don’t mean anything,” Trump said. “Either you are going to make a deal or you’re not.”

Lighthizer responded testily that MOUs were binding, but that he would never use the term again.

Reuters reported exclusively on Wednesday that the two sides were drafting the language for six MOUs covering the most difficult issues in the trade talks that would require structural economic change in China.

Negotiators have struggled this week to agree on specific language within those memorandums to address tough U.S. demands, according to sources familiar with the talks. The six memorandums include cyber theft, intellectual property rights, services, agriculture and non-tariff barriers to trade, including subsidies.

An industry source briefed on the talks said both sides have narrowed differences on intellectual property rights, market access and narrowing a nearly $400 billion U.S. trade deficit with China. But bigger differences remain on changes to China’s treatment of state-owned enterprises, subsidies, forced technology transfers and cyber theft of U.S. trade secrets.

Lighthizer pushed back when questioned on forced technology transfers, saying the two sides made “a lot of progress” on the issue, but did not elaborate.

The United States has said foreign firms in China are often coerced to transfer their technology to Chinese firms if they want to operate there. China denies this.

The U.S. Chamber of Commerce on Friday urged the U.S. government to ensure the deal was comprehensive and addressed core issues, rather than one based on more Chinese short-term purchases of goods.

China has pledged to increase purchases of agricultural produce, energy, semiconductors and industrial goods to reduce its trade surplus with the United States.

China committed to buying an additional 10 million tonnes of U.S. soybeans on Friday, U.S. Agriculture Secretary Sonny Perdue said on Twitter. China bought about 32 million tonnes of U.S. soybeans in 2017. The commitments are a “show of good faith by the Chinese” and “indications of more good news to come,” Perdue wrote.

China was the top buyer of U.S. soybeans before the trade war, but Beijing’s retaliatory tariffs on U.S. soybeans slashed business that had been worth $12 billion annually.

Source: Reuters

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