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About The Asian reporter. (Portland, Or.) 1991-current | View Entire Issue (June 18, 2018)
ASIA / PACIFIC Page 4 n THE ASIAN REPORTER June 18, 2018 China hikes tariffs on U.S. soybeans, electric cars, fish By Joe McDonald The Associated Press EIJING — China has fired back in a spiralling trade dispute with U.S. President Donald Trump by raising import duties on a $34 billion list of American goods, including soybeans, electric cars, and whiskey. The government said it was responding in “equal scale” to Trump’s tariff hike on Chinese goods in a conflict over Beijing’s trade surplus and technology policy that companies worry could quickly escalate and chill global economic growth. China “doesn’t want a trade war,” but has to “fight back strongly,” said a Commerce Ministry statement. It said Beijing also was scrapping agreements to narrow its multibillion-dollar trade surplus with the United States by purchasing more American farm goods, natural gas, and other products. The United States and China have the world’s biggest trading relationship, but official ties are increasingly strained over complaints that Beijing’s industry development tactics violate its free-trade pledges and hurt American companies. Europe, Japan, and other trading partners raise similar complaints, but Trump has been unusually direct about challenging Beijing and threatening to disrupt such a large volume of exports. “In this trade war, it’s the U.S. who is playing the role of provocateur, while China plays defense,” said the Global Times, a newspaper published by the ruling Communist Party. “China is a powerful guardian and has enough ammunition to defend existing trade rules and fairness.” Beijing will impose an additional 25 percent tariff starting July 6 on 545 products from the United States, including soybeans, electric cars, orange juice, whiskey, lobster, salmon, and cigars, according to the Ministry of Finance. Most are food and other farm goods, hitting Trump’s rural supporters hardest. Beijing appeared to be trying to minimize the impact on its own economy by picking U.S. products that can be replaced by imports from other suppliers such as Brazil or Australia. Chinese regulators also are considering a tariff hike on an additional 114 products, including medical equipment and energy products, the Finance Ministry said. It said a decision would be announced later. That mirrored the Trump administration’s announcement of a tariff hike on $34 billion of Chinese goods, also due to take effect July 6, and plans to consider widening it to an additional $16 billion of other products. China’s heavily regulated economy also gives the ruling Communist Party additional options for retaliation by withholding approval for business activity. Anti-monopoly regulators are believed to have delayed announcing a decision on U.S. tech giant Qualcomm’s proposed acquisition of semiconductor maker NXP in part due to the tariff conflict. Other companies say the approval process for licenses has slowed down. “China’s retaliation will remain calibrated and largely reciprocal, with President Xi Jinping ready to counter any move by Trump,” said Eurasia Group in a report. “Beijing has a freer hand for informal retaliation, which will now start to increase.” The American Chamber of Commerce had appealed to Washington to avoid a tariff hike, but said Trump’s threat B PHILIPPINE PROTEST. Protesters shout slogans while being pushed away from a venue after heckling Philippine President Rodrigo Duterte at the 120th Philippine Independence Day celebration at the Emilio Aguinaldo Shrine at Kawit, Cavite province, south of Manila, the Philippines. Duterte’s speech was marred by protesters who heckled him with shouts of “traitor!” and “Oust Duterte!” (AP Photo/Bullit Marquez) Protesters heckle, disrupt Duterte’s Independence day speech KAWIT, The Philippines (AP) — Several left-wing activists heckled and disrupted a televised Independence Day speech by the Philippine president and called him a “traitor” amid criticism of his handling of territorial disputes with China. President Rodrigo Duterte halted his speech during the commotion and calmly watched from a historic balcony in Kawit town south of Manila as police pulled the protesters away. He asked law enforcers to deal with the protesters “with maximum tolerance” as the audience, which included ambassadors, waited. He later resumed his speech, which focused on his battle against illegal drugs and corruption. Duterte has come under fire from critics who say he has been far too soft on China over contested South China Sea territories. Officials say his approach has fostered talks and won concessions. The Asian Reporter is published on the first & third Monday each month. News page advertising deadlines for our next two issues are: July 2 to 15 edition: Space reservations due: Wednesday, June 27 at 1:00pm Artwork due: Thursday, June 28 at 1:00pm July 16 to August 5 edition: Space reservations due: Wednesday, July 11 at 1:00pm Artwork due: Thursday, July 12 at 1:00pm For more information, please call (503) 283-4440. 8 5 2 6 3 4 9 5 8 7 Difficulty HARD 1 4 7 5 1 2 5 3 1 9 7 4 9 7 2 8 6 1 level: Hard #85142 # 33 Instructions: Fill in the grid so that the digits 1 through 9 appear one time each in every row, col- umn, and 3x3 box. Solution to last issue’s puzzle Puzzle #63758 (Medium) All solutions available at <www.sudoku.com>. 6 5 7 3 8 9 1 4 2 3 8 4 6 2 1 7 9 5 1 9 2 5 7 4 6 3 8 7 3 8 2 6 5 4 1 9 2 1 6 4 9 8 3 5 7 9 4 5 7 1 3 2 8 6 4 7 1 8 5 2 9 6 3 5 6 9 1 3 7 8 2 4 8 2 3 9 4 6 5 7 1 TIT FOR TAT. A visitor walks by the booths of U.S. soybean compa- nies at the international soybean exhibition in Shanghai, China, in this April 12, 2018 file photo. China has fired back in a spiralling trade dispute with U.S. President Donald Trump by raising import duties on a $34 bil- lion list of American goods, including soybeans, electric cars, and whis- key. (AP Photo/Andy Wong, File) has prompted Beijing to engage in more intensive negotiations than it had in recent years. Companies also are watching the fate of ZTE Corp., a Chinese maker of telecoms gear that ran afoul of U.S. regulators after it violated restrictions on exports of American technology to Iran and North Korea. Washington rescinded a ban on sales of U.S. technology to ZTE after the company agreed to pay a $1 billion fine and hire American-picked compliance managers. The agreement allows Washington to impose an additional $400 million fine or other penalties if ZTE violates the deal. Trump is pressing Beijing to narrow its trade surplus with the United States and roll back its plans for state-led development of Chinese global competitors in technology fields including electric cars, renewable energy, artificial intelligence, and biotech. The U.S., Europe, Japan, and other trading partners complain Beijing’s tactics include outright theft of foreign technology and subsidies and protection from competition for fledgling Chinese industries. They say those violate Chinese market-opening commitments under the World Trade Organization. Tensions eased temporarily after Chinese negotiators agreed at talks in Washington in May to buy more American farm goods, natural gas, and other products. American officials said they would suspend threatened tariff increases on up to $150 billion of Chinese goods. The dispute revived after the White House renewed its plan for a tariff hike on $50 billion of Chinese goods as part of the technology dispute. The Chinese government warned after another round of talks June 3 that it would discard those deals if the tariffs went ahead. Businesspeople and economists say Chinese leaders are less likely to compromise on technology. They view plans for state-led development of companies capable of competing globally in fields including electric cars, renewable energy, and biotech as a route to prosperity and to restore China to its rightful role as a world leader. “There isn’t one country who would give up their rights to advance technology and make industrial upgrades,” said the Global Times editorial. Beijing also has announced plans to cut import duties on autos and some consumer goods and to ease limits on foreign ownership in auto manufacturing, insurance, and some other industries, though those don’t directly address U.S. complaints. 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