Thread: US finds dumping, subsidies in wire rod imports

Are they filing a thread, BARBarians

Close the borders!!!!

Damn Foreigners....

Originally Posted by OhOh

147.63 percent less than fair value

So the "seller" paid the "buyer" to take the goods?

"If somebody tries to impose a trade war upon us, we will fight," Chinese Ambassador to the US Cui Tiankai said after US President Donald Trump on Thursday signed off on a plan to impose tariffs on imports from China and restrict Chinese foreign direct investment.


"We will do whatever we can to defend the legitimate interests," Cui said in a video posted on the embassy Facebook account. "Let me assure those people who intend to fight a trade war. We will certainly fight back. We will retaliate. If people want to play tough, we will play tough with them and see who will last longer."


The US memorandum directs Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to respectively come up with specific plans on the tariffs and on Chinese FDI in the US.


The memo is a result of a Section 301 investigation under the US Trade Act of 1974 into China's laws, policies, practices or actions related to technology transfer, intellectual property and innovation.


While the memo posted on the White House website did not give a specific amount of the tariffs, Trump said on Thursday "it could be about $60 billion".


Also, unlike executive orders that take legal precedence and cannot be changed by a memorandum, a US presidential memorandum can be amended or rescinded by executive orders or another memorandum.


Trump said the two countries are in the midst of a large negotiation.


"We'll see where it takes us. But in the meantime, we're sending a Section 301 action," Trump said at the signing ceremony.


The move has drawn firm opposition from US businesses and lawmakers.


Lighthizer was grilled on the economic impact on US states at a Senate hearing on Thursday and at a similar session at the House of Representatives on Wednesday.


The US Chamber of Commerce and major US retailers earlier sent a letter and statement to Trump urging he not proceed with the broad tariffs on China.


"What avenues are we going to take to protect the $7 billion export agriculture market from my state from being retaliated against in this trade war that the president is basically embracing?" Maria Cantwell, a Democratic senator from Washington, asked Lighthizer.


"It's not something I think that in an economy like in the state of Washington, which is so trade dependent, is ready to embrace," she said. "They look at this 1980s view as a very retro policy: 'Let's start a trade war.' We'd like something more sophisticated."


China will "take all necessary measures" to resolutely protect its legitimate rights and interests that might be hampered by the possible US initiation of a Section 301 investigation into the country, the Ministry of Commerce said on Thursday.


Under the memorandum, Lighthizer will consider whether the US response should include increased tariffs on goods from China, and if so, he should publish a proposed list of products and any intended tariff increases within 15 days of the memorandum. A final list would be published to implement any tariffs after a period of notice and comment.


At Thursday's hearing, Lighthizer indicated that Chinese products and industries in the "Made in China 2025" strategy will be the primary targets.


The memorandum directs Mnuchin to address concerns about Chinese FDI in the US and report the progress within 60 days of the memorandum.


Foreign Ministry Spokeswoman Hua Chunying said the two countries have remained in close communication on trade issues at various levels.


Constructively resolving differences and friction, and safeguarding the healthy and stable growth of bilateral trade are the consensus of both countries' leaders, she said on Thursday.


US export restrictions on China are a factor in the trade imbalance, she said, adding that a complete trade balance is unrealistic and unreasonable, and it's not fair to accuse only China.


"I hope both sides sit down to conduct constructive dialogue and consultation and pursue mutual benefits and win-win results based on equality and mutual respect," she said, adding that China and the US can be positive role models in maintaining the stability of the global economy.


Trump also said that he views China as a friend.


"I have tremendous respect for President Xi," he said. "We have a great relationship. They're helping us a lot in North Korea.


"But we have a trade deficit ... there are many different ways of looking at it, but no matter which way you look at it, it is the largest trade deficit of any country in the history of the world," Trump said.


Zhang Monan, a researcher at the China Center for International Economic Exchanges, said the Trump administration needs a way to attract votes for the midterm elections in November.


"It is unwise to stop effective official talks," Zhang said. "The current situation certainly needs constructive talks to resolve issues."


Tu Xinquan, a professor of international trade at the University of International Business and Economics in Beijing, said a trade war could push China to seek more technology partners from Europe to the detriment of US firms.


The memorandum was signed just a day before the Section 232 steel and aluminium tariffs are expected to be imposed.


But Lighthizer said on Thursday that in addition to the exemptions for Mexico and Canada, the tariffs on countries in the European Union, Brazil and Argentina — all major steel exporters to the US — will be put on pause. Japan, however, remains on the list.

China vows fight after Trump signs tariff memo - World - Chinadaily.com.cn

China slaps reciprocal tariffs on U.S. imports

China announced plans to impose reciprocal tariffs on $3 billion of imports from the U.S., hours after President Trump ordered levies on a range of Chinese goods.


The details: China's plan includes a 25% tariff on U.S. pork imports as well as 15% tariffs on American steel pipes, fruit and wine, according to Bloomberg.


Go deeper: Axios' Jonathan Swan explains the coming trade war.

Originally Posted by misskit

China slaps reciprocal tariffs on U.S. imports


China announced plans to impose reciprocal tariffs on $3 billion of imports from the U.S., hours after President Trump ordered levies on a range of Chinese goods.


The details: China's plan includes a 25% tariff on U.S. pork imports as well as 15% tariffs on American steel pipes, fruit and wine, according to Bloomberg.


Go deeper: Axios' Jonathan Swan explains the coming trade war.

Not unexpected. Well, except by baldy orange cunto who hasn't got a fucking clue.

At least the ameristans are using the WTO, with exceptions to their friends, for these dispute resolutions.

US requests consultations with China at WTO over technology practices

"The United States has requested consultations with China at the World Trade Organization (WTO) over alleged "unfair" technology practices, the Office of the US Trade Representative (USTR) said on Friday.

The USTR "filed a request for consultations with China at the WTO to address China's discriminatory technology licensing requirements," it said in a statement.

"These Chinese policies hurt innovators in the United States and worldwide by interfering with the ability of foreign technology holders to set market-based terms in licensing and other technology-related contracts," said the statement.

Consultations are the first step in the WTO dispute settlement process. If the United States and China are not able to reach a mutually agreed solution through consultations, the United States may request the establishment of a WTO dispute settlement panel to review the matter. "

Ah yes, all the legally binding contracts the foreign companies signed to gain access to the Asian markets are becoming intolerable. Such a pity, will the executives who received bonuses based on quarterly sales targets return them, will the connected politicians and financial advisors who pocketed windfall profits and any gains made with the seed profits, return them to the Chinese and ameristan governments as illegal penalties.

Apparently ameristani politicians do not believe in the capitalist, dog eat dog, system any more.

What will they tell their children!



US requests consultations with China at WTO over technology practices - Global Times

China will fight to the end in any trade war: Foreign Ministry

China will fight to the end in any trade war: Foreign Ministry - Global TimesTrade war could hurt US LNG exports as US makes stupid move: expert

Trade war could hurt US LNG exports as US makes stupid move: expert - Global TimesFord in drive to rebuild ties with China

"After 20-odd years of "marriage" in China, Ford Motor Co is having relationship issues.

The US automaker, losing ground in the world's largest car market, is trying to maintain trust and respect in its partnerships with Changan Automobile Group and Jiangling Motors Group (JMC), putting pressure on sales efforts, according to four sources at Ford and its China joint ventures.

"Changan and Ford have already been married for [nearly two decades] but we still don't trust each other," one of the sources said.

In an effort to improve relations and reverse a recent sales slump, Ford is preparing for a new product blitz and a campaign to localize management in China, according to Peter Fleet, head of Ford's Asia-Pacific operations.

Ford sales fell 6 percent in 2017 even as overall vehicle sales in China rose 3 percent. Sales during the first two months of 2018 were down 23 percent.

Fleet said the company was looking beyond the sales numbers to focus on "structural priorities."

Ford in drive to rebuild ties with China - Global TimesTrump’s China plan has ulterior motives

"Source:Global Times Published: 2018/3/23 23:03:40

---

US President Donald Trump on Thursday announced plans to slap punitive tariffs on imported Chinese products, then China declared a plan to impose tariffs on $3 billion worth of US products. We believe it is only part of China's countermeasures, and soybeans and other US farm products will be targeted. Stock markets around the globe tumbled on Thursday and Friday, reflecting investors' fears that China-US trade will worsen.

This unprecedented trade friction came about after the Trump administration labeled China a US "strategic competitor." It does not look like just a trade war, but rather the US is trying to bully China and the rest of the world in order to make China concede economic resources and development opportunities to the US and make the US forever big and strong."

Although the ameristanis have since cancelled all trade disputes on all but China.

Originally Posted by OhOh

Depends on who or how "fair value" is determined.

Presumably the foreign seller can make an acceptable profit, for his widget, at a certain sale price. Some believe, the acceptable to the foreigner's widget selling price, is less than the 'fair value" that their own native manufacturers can make a profit on, for exactly the same widget.

Therein lies the dilemma.

A couple of things you should read in the link you posted:

Subsidies are not fair trade, so the US has a right to protest (or to subsidise its own manufacturers).

The ITC is due to make its determination around May 3.

So really there's not a whole lot going on here.

Originally Posted by harrybarracuda

Subsidies are not fair trade, so the US has a right to protest (or to subsidise its own manufacturers).

To suggest that China is solely subsidising it's own manufacturers" is ficticious.

Originally Posted by harrybarracuda

So really there's not a whole lot going on here.

Is there ever, when ameristan tweets a course of action and then promptly denies or changes the course. Other countries state their position, just in case some, around the world, try and utilise the non comment as acceptance.

Originally Posted by OhOh

To suggest that China is solely subsidising it's own manufacturers" is ficticious.

You're the only one doing that.

I don't think you understand how the ITC works.

https://www.usitc.gov/trade_remedy/7...stigations.htm

The US probably subsidises its business and corporations more than any country in the world.

https://www.washingtonpost.com/blogs...=.0eee04a6432d

They even give selected overseas governments money to buy American weapons an indirect subsidy to the arms industry.

Just another example of blatant hypocrisy.

Originally Posted by birding

The US probably subsidises its business and corporations more than any country in the world.

https://www.washingtonpost.com/blogs...=.0eee04a6432d

They even give selected overseas governments money to buy American weapons an indirect subsidy to the arms industry.

Just another example of blatant hypocrisy.

Every nation does that. I remember Britain giving Thailand a load of cash so they could buy British buses.

Although I think it got trousered.

Originally Posted by birding

They even give selected overseas governments money to buy American weapons an indirect subsidy to the arms industry

A cunning ruse.



Really just prepositioning war stockpiles around the world and sometimes getting paid for it. As opposed to the Israel situation where it's government demand and receive, free "money" every year.

Accounting wise it disappears into it's prostituted politician's bank accounts. Either immediately or when they swap their politicians hat for a MIC hat.

Originally Posted by OhOh

"The United States has requested consultations with China at the World Trade Organization (WTO) over alleged "unfair" technology practices, the Office of the US Trade Representative (USTR) said on Friday.

The USTR "filed a request for consultations with China at the WTO to address China's discriminatory technology licensing requirements," it said in a statement.

"These Chinese policies hurt innovators in the United States and worldwide by interfering with the ability of foreign technology holders to set market-based terms in licensing and other technology-related contracts," said the statement.

Haha. When it came to the TCIP or any other trade deal, the US would thumb it's nose at the WTO.
Hurts when the shoe is on the other foot.

Originally Posted by birding

They even give selected overseas governments money to buy American weapons

Israel. Part of the US's support for the spoiled child state, and also a way to support their (US) arms industry.

Israel. Part of the US's support for the spoiled child state, and also a way to support their (US) arms industry.

Not the only one Egypt is another, a country under a military dictatorship supported by the US while condemning another in Thailand.