Gunny
03-22-2018, 02:51 PM
OAN Newsroom
UPDATED 8:25 AM PT — Thurs. March 22, 2018The government of Mainland China is preparing to retaliate against President Trump’s trade restrictions by targeting U.S. exports in agricultural goods and high-end electronics.
Chinese officials reportedly seek to hurt U.S. industries that employ a large proportion of Republican voters in hopes to take down President Trump.
“We have said many times, there are no winners (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) in a trade war,” stated Lu Kang, a spokesman for China’s Foreign Ministry. “It can only harm people — this point, I believe, is needless to say, all parties can’t count on luck to survive.”
The Chinese government’s primary target is the so-called “farm belt” comprised of several red states in the Midwest and Western U.S.
Officials in Beijing believe by imposing prohibitive imports duties on U.S. agricultural products, they will undermine the profitability (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) of U.S. farmers, in turn, forcing them to vote against President Trump in the 2020 election.
The products said to be likely targeted by China, include soybeans, sorghum, and live pigs.
“We believe that China and the United States can use friendly consultations to resolve our disputes,” Lu Kang continued. “We have the good faith to do it this way, however, history shows trade wars are in nobody’s interests, but China is willing to protect its legitimate rights if something happens we don’t want to see.”
Additionally, the Chinese officials proposed slapping tariffs on the imports of advanced electronics and machinery as well as luxury goods from the U.S.
On the other hand, Beijing is planning to offer U.S. companies a greater access to the Chinese market by loosening foreign ownership rules in the financial sector and dropping domestic-partnership regulations for foreign manufacturers.
Chinese President Xi Jinping called this a “stick-and-carrot” approach.
The U.S. agricultural sector has posted solid annual trade surpluses for over the last 50-years, showing resilience and flexibility throughout economic downturns and trade disputes in the past.
According to the Farm Credit (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) Administration, total U.S. agricultural exports stood just under $140 billion in 2015, with Mainland China being the number one destination accounting for $22.5 billion worth of goods.
However, the following year Canada surpassed China as top destination for U.S. farming exports, bringing in over $20 billion worth of products.
“There is always a risk if we put tariffs on that other people will reciprocate, and there is a risk of a trade war,” explained U.S. Treasury Secretary Steven Mnuchin. “The president has said we are not afraid of getting into a trade war, given the size of our market, the size of our economy, and the fact that we have a big trade deficit.”
China’s imports of U.S. agricultural goods declined by three billion dollars to just over $19 billion over the two-year period.
Other top destinations for U.S. agricultural exports include Mexico, the E.U., and Japan, All have recently committed to tighter trade cooperation with the U.S. in exchange (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) for exemptions from industrial metals tariffs.
Some say China’s retaliation might have a negative effect on the Trump administration as President Trump carried eight-out-of-10 largest soybean and hog-producing states in the 2016 election.
Addressing the brewing (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) concerns, Vice President Mike Pence reiterated the administration’s commitment to opening new markets for U.S. farming exports, and advancing the farm legislation in Congress aimed at boosting farm efficiency and sustainability.
http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/
Looks like it's on. I'd tell China to go f*ck itself simply for its arrogance. Nice of them to threaten Us conservative redneck farmers in the open though. I'm sure they be just glad to bow to the Chinese :rolleyes:
UPDATED 8:25 AM PT — Thurs. March 22, 2018The government of Mainland China is preparing to retaliate against President Trump’s trade restrictions by targeting U.S. exports in agricultural goods and high-end electronics.
Chinese officials reportedly seek to hurt U.S. industries that employ a large proportion of Republican voters in hopes to take down President Trump.
“We have said many times, there are no winners (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) in a trade war,” stated Lu Kang, a spokesman for China’s Foreign Ministry. “It can only harm people — this point, I believe, is needless to say, all parties can’t count on luck to survive.”
The Chinese government’s primary target is the so-called “farm belt” comprised of several red states in the Midwest and Western U.S.
Officials in Beijing believe by imposing prohibitive imports duties on U.S. agricultural products, they will undermine the profitability (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) of U.S. farmers, in turn, forcing them to vote against President Trump in the 2020 election.
The products said to be likely targeted by China, include soybeans, sorghum, and live pigs.
“We believe that China and the United States can use friendly consultations to resolve our disputes,” Lu Kang continued. “We have the good faith to do it this way, however, history shows trade wars are in nobody’s interests, but China is willing to protect its legitimate rights if something happens we don’t want to see.”
Additionally, the Chinese officials proposed slapping tariffs on the imports of advanced electronics and machinery as well as luxury goods from the U.S.
On the other hand, Beijing is planning to offer U.S. companies a greater access to the Chinese market by loosening foreign ownership rules in the financial sector and dropping domestic-partnership regulations for foreign manufacturers.
Chinese President Xi Jinping called this a “stick-and-carrot” approach.
The U.S. agricultural sector has posted solid annual trade surpluses for over the last 50-years, showing resilience and flexibility throughout economic downturns and trade disputes in the past.
According to the Farm Credit (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) Administration, total U.S. agricultural exports stood just under $140 billion in 2015, with Mainland China being the number one destination accounting for $22.5 billion worth of goods.
However, the following year Canada surpassed China as top destination for U.S. farming exports, bringing in over $20 billion worth of products.
“There is always a risk if we put tariffs on that other people will reciprocate, and there is a risk of a trade war,” explained U.S. Treasury Secretary Steven Mnuchin. “The president has said we are not afraid of getting into a trade war, given the size of our market, the size of our economy, and the fact that we have a big trade deficit.”
China’s imports of U.S. agricultural goods declined by three billion dollars to just over $19 billion over the two-year period.
Other top destinations for U.S. agricultural exports include Mexico, the E.U., and Japan, All have recently committed to tighter trade cooperation with the U.S. in exchange (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) for exemptions from industrial metals tariffs.
Some say China’s retaliation might have a negative effect on the Trump administration as President Trump carried eight-out-of-10 largest soybean and hog-producing states in the 2016 election.
Addressing the brewing (http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/#) concerns, Vice President Mike Pence reiterated the administration’s commitment to opening new markets for U.S. farming exports, and advancing the farm legislation in Congress aimed at boosting farm efficiency and sustainability.
http://www.oann.com/china-to-retaliate-against-u-s-farming-to-damage-president-trumps-electoral-support/
Looks like it's on. I'd tell China to go f*ck itself simply for its arrogance. Nice of them to threaten Us conservative redneck farmers in the open though. I'm sure they be just glad to bow to the Chinese :rolleyes: