Showing posts with label South Korea. Show all posts
Showing posts with label South Korea. Show all posts

Tuesday, September 25, 2018

China and "Me too" Nations Insist on Unfair Trade that Breaks WTO International Free Trade Rules

Reuters and a number of media sources have put out recent news that a senior China trade official says that it is hard for them to proceed on trade negotiations with the U.S. putting a 'knife to its neck.'  https://www.reuters.com/article/us-usa-trade-china-talks/china-says-u-s-putting-knife-to-its-neck-hard-to-proceed-on-trade-idUSKCN1M509S


Translation:  "We have an advantage in trade with The United States, and we are going to try to keep it anyway that we can."  In other words, "It is the fault of the U.S. that we have insisted for years in managing our trade, currency, and foreign relations to the advantage of China, and we are not going to stop this, as it is to our advantage, regardless of what agreements we signed with the World Trade Organization in 2001 to not do, exactly what we, in fact, are now doing."

"Oh, yes, by the way, we are for free trade worldwide."

It is hard to believe that anyone anywhere thinks that this blatant hypocrisy from China is not balderdash.

Additionally, in recent days many of us have physically and mentally watched comments on BBC and CNN by other world leaders, which have parroted the same line of reasoning as the senior China trade official.

"Me too.  Me too!"

Nonsense!

Clearly the other "Me too" nations and China are insisting on colluding in continuing to violate WTO rules of fair international trade, and these managed trade, managed currency violations and hypocrisy have gone too far and for too long.

Who could blame the U.S. for putting full sanctions on the lot of them, or simply preventing other nations from trading with The United States, for just cause and for gross violations of WTO international trade rules?

President Trump recently came to a new modified signed agreement with Mexico over NAFTA trade, and he signed a new modified trade agreement with the President of South Korea, Moon Jae-in.  https://www.bloomberg.com/news/articles/2018-09-24/trump-clinches-his-first-trade-deal-in-revamped-south-korea-pact?srnd=politics-vp

Although there was a most recent report that our President received some criticism at the United Nations over trade, there are also reports that President Trump has multiple trade agreements in varying degrees of readiness.  Trump also had positive trade talks with President Macron, among other issues that the two presidents spoke to each other about on the sidelines of the UN.

In the past, President Trump has come to partial agreements with some European leaders, but, as of this moment, those agreements are not fully negotiated and ready for signature.
  
In a Bloomberg article earlier today, Josh Wingrove hinted that Prime Minister Trudeau wants to complete a modified new NAFTA agreement with the U.S. government.  According to Wingrove, "...but it's his [Trudeau's] job to stand up for Canada's interests."    https://www.bloomberg.com/news/articles/2018-09-25/u-s-canada-ties-can-survive-trade-friction-trudeau-says

References List:

Chen, Y., & Blanchard, B. (2018, September 25). Reuters.com. China says U.S. putting "knife to its neck", hard to proceed on trade. Retrieved September 25, 2018, from https://www.reuters.com/article/us-usa-trade-china-talks/china-says-u-s-putting-knife-to-its-neck-hard-to-proceed-on-trade-idUSKCN1M509S

Lee, Y., Tweed, D., & Leonard, J. (2018, September 25). Bloomberg.com. Trump Clinches His First Trade Deal With Revamped South Korea Pact. Retrieved September 25, 2018, from https://www.bloomberg.com/news/articles/2018-09-24/trump-clinches-his-first-trade-deal-in-revamped-south-korea-pact?srnd=politics-vp

Wingrove, J. (2018, September 25). Bloomberg.com. U.S.-Canada Ties Can survive Trade Friction, Trudeau Says. Retrieved September 25, 2018, from https://www.bloomberg.com/news/articles/2018-09-25/u-s-canada-ties-can-survive-trade-friction-trudeau-says