China threatens a ‘People’s War’ on US and blames the trade war on Trump’s ‘greed and arrogance’

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China has waged a ‘people’s war’ on the U.S. and blamed the intensified tariff war on Trump’s ‘greed and arrogance’. 

In a new commentary published by Global Times, the mouthpiece of China’s ruling Communist Party, Beijing called the trade war the creation of just ‘one person’ and ‘one team’ – referring to Trump and his administration without naming names.

It said that the Trump administration hijacked the interests of all American people to fight the war with China. 

The column, released on Monday, also claimed that Washington has been ‘lying non-stop throughout the war’ because otherwise Trump’s team ‘won’t feel motivated’. 

In a new commentary published by Global Times, the mouthpiece of China's ruling Communist Party, Beijing calls the trade war the creation of just 'one person' and 'one team' - referring to Trump and his administration without naming names.

U.S. President Donald Trump and Chinese President Xi Jinping are set to meet at G20 leaders' summit next month in Japan

In a new commentary published by Global Times, the mouthpiece of China’s ruling Communist Party, Beijing calls the trade war the creation of just ‘one person’ and ‘one team’ – referring to Trump and his administration without naming names. U.S. President Donald Trump and Chinese President Xi Jinping are set to meet at G20 leaders’ summit next month in Japan

The commentary was written in response to the comment made by White House’s top economic adviser on Sunday regarding who would pay for the tariffs imposed by U.S. on Chinese goods. 

Larry Kudlow has acknowledged that U.S. consumers and businesses will pay the tariffs that the Trump administration has imposed on billions of dollars of Chinese goods – even though President Trump himself insisted in a tweet, incorrectly, that China pays. 

‘Washington originally hoped to finish [the trade war] quickly, and did not prepare to fight a long-lasting war psychologically. Now it is mobilizing [its team] last minute with baffling words that do not hold water,’ said the article which was re-published by Xinhua News Agency

‘China is not a small country and does not earn our daily bread from U.S. only. 

‘Particularly in today’s world, the Chinese market is huge and very close to the U.S. market in size, and the trend is [we] will overtake the U.S.,’ it added.

The column concluded by saying that ‘the U.S. side fights because of its greed and arrogance’ while China simply launched an counterattack ‘to protect our legitimate rights and interests’.

It continued: ‘The U.S. trade war is supported and fought by one person and one team and it hijacks the people of that country.

‘As for China, our entire country and all people are hijacked in the meantime. For us, this is a real “People’s War”.’  

President Donald Trump (right) expanded his tariff regime to include practically everything China exports to the US; Chinese President Xi Jinping (left) retaliated Monday but said his own tariffs won't go into effect until June. The pair are pictured in November 2017

President Donald Trump (right) expanded his tariff regime to include practically everything China exports to the US; Chinese President Xi Jinping (left) retaliated Monday but said his own tariffs won’t go into effect until June. The pair are pictured in November 2017

China announced Monday it would raise tariffs on $60 billion in US exports by next month, responding in kind to President Donald Trump's decision last week to hike duties on hundreds of billions of dollars in Chinese merchandise

 China announced Monday it would raise tariffs on $60 billion in US exports by next month, responding in kind to President Donald Trump’s decision last week to hike duties on hundreds of billions of dollars in Chinese merchandise

A Chinese worker adjusts a hydraulic lift at a factory which produces construction machinery for export to many countries, including the US, in Jinan, in east China's Shandong province

A Chinese worker adjusts a hydraulic lift at a factory which produces construction machinery for export to many countries, including the US, in Jinan, in east China’s Shandong province

Donald Trump predicted Tuesday that the U.S. will notch a trade victory in what he described as ‘a little squabble with China.’

Speaking to reporters as he left the White House, the president grinned as he asked: ‘You want to know something? You want to know something? We always win.’

And Trump warned that he might stack even more tariffs on a growing pile of anti-China duties in order to put additional pressure on Beijing.

‘We’re looking at it very strongly,’ Trump said.

‘This has never happened to China before,’ he said of the already painful tariff regime that shows no sign of letting up.

And the president underscored that Americans who might find themselves saddled with the costs of his tariffs can take them out of the equation by freezing the Chinese out.

President Donald Trump said Tuesday of the trade 'squabble' with China that 'we always win'

President Donald Trump said Tuesday of the trade ‘squabble’ with China that ‘we always win’

Trump went all-in Tuesday on his China trade war, escalating the high-stakes poker game he's playing with Chinese President XiJinping

Trump went all-in Tuesday on his China trade war, escalating the high-stakes poker game he’s playing with Chinese President XiJinping

‘You have no tariff to pay whatsoever if you’re a business. All you have to do is build or make your product in the United States,’ he said.

He also suggested Americans buy products ‘from someplace else other than China.’

‘I think we’re winning it. We’re going to be collecting over $100 billion in tariffs,’ Trump said.

‘I think it’s going to turn out extremely well,’ he added, declaring that America is ‘in a very, very strong position.’

Trump began Tuesday with an extended Twitter rant directed squarely at Beijing, warning that he’s done making trade concessions to his Chinese rival Xi Jinping.

The president’s nine tweets blasted China for walking away from what had been a nearly finished deal, just hours after telling an audience at the White House that extended talks would be ‘very successful.’

He also pledged to bail out U.S. farmers who are feeling a financial pinch as China’s market tightens, saying he will use money collected through newly imposed tariffs on Chinese products at the border.

And throughout, Trump insisted America is powerful enough to outlast a great stonewall from China.

Chinese President Xi Jinping is emerging as Trump's most potent economic adversary on the world stage as he works to protect China's trade advantages – which Trump claims are the result of former presidents' mishandling

Chinese President Xi Jinping is emerging as Trump’s most potent economic adversary on the world stage as he works to protect China’s trade advantages – which Trump claims are the result of former presidents’ mishandling 

China's imports of soybeans from the U.S., once its biggest supplier, have dropped massively during Trump's trade war; the president said Tuesday that he's prepared to make up the gap through subsidies paid for with money from his anti-China tariffs

China’s imports of soybeans from the U.S., once its biggest supplier, have dropped massively during Trump’s trade war; the president said Tuesday that he’s prepared to make up the gap through subsidies paid for with money from his anti-China tariffs

Trump began Tuesday with an early-morning tweet-storm that showed no hint of hesitation about his aggressive posture

Trump began Tuesday with an early-morning tweet-storm that showed no hint of hesitation about his aggressive posture

‘We are now a much bigger economy than China, and have substantially increased in size since the great 2016 Election. We are the ‘piggy bank’ that everyone wants to raid and take advantage of. NO MORE!’ he tweeted. 

Trump wrote that America’s ‘great Patriot Farmers’ will ultimately benefit from a reoriented trans-Pacific trade balance, and ‘[h]opefully China will do us the honor of continuing to buy our great farm product, the best.’

But if not, he added, he will step in with subsidies: ‘This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us.’

‘The Farmers have been ‘forgotten’ for many years. Their time is now!’ he concluded. 

Trump called his friendship with Xi ‘unlimited’ in his tweet-storm, and suggested that his patience with China’s trade negotiators also has a distant expiration date. 

‘When the time is right we will make a deal with China. My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense,’ he wrote. 

The president has escalated his trade war this month with new tariffs and a take-no-prisoners approach to cutting a long-term deal with China

The president has escalated his trade war this month with new tariffs and a take-no-prisoners approach to cutting a long-term deal with China

An hour after he tweeted his opening salvo on Tuesday, the president pledged to bail out U.S. farmers who have lost contracts with China

An hour after he tweeted his opening salvo on Tuesday, the president pledged to bail out U.S. farmers who have lost contracts with China

The president’s all-in move on trade comes a day after American stock markets plummeted by more than 600 points, and only stabilized after he told reporters he will personally meet with Xi next month in Japan.  

CHINA’S NEW TARIFFS ON U.S. GOODS

China announced on May 13 that it will increase tariffs on 5,140 U.S. products, worth about $60 billion.

A higher 25% will be levied on 2,493 products including:

  • Liquefied natural gas
  • Soy oil
  • Peanut oil
  • Petrochemicals
  • Frozen minerals
  • Cosmetics

Other products will get tariffs of 5% to 20% including:

  • Soybeans
  • Beef
  • Pork
  • Seafood
  • Vegetables
  • Whiskey
  • Ethanol

Some products remain tariff free such as:

‘I’ll meet with him directly. Yes, I’ll be meeting with President Xi of China,’ he said reporters in the Oval Office, alongside Viktor Orbán, the right-wing prime minister of Hungary. 

‘And that will be, I think, probably a very fruitful meeting,’ he added. 

Trump’s annoucement briefly halted the market’s slide, but the Dow Jones Industrial Average ended the day down 617 points. Only one other day this year, January 3, has seen worse market losses.

Both leaders will be in Osaka, Japan for the annual G20 leaders’ summit June 28-29. 

There had been some doubt inside the White House about whether Trump would make the trip at all. He is already going to Toyko this month for a separate trip related to the ascension of Japan’s new emperor. 

China had Monday morning that it would hike import tariffs to as high as 25 per cent on U.S. goods, and bluntly told Trump it would ‘never surrender’ on trade.

Trump warned Xi Jinping on Monday that if he doesn’t make a trade deal, companies will flee China to avoid increasing their prices in the U.S. as a result of the president’s punishing new tariffs.

Trump levied new tariffs Friday on practically everything China exports to the United States in the hope of forcing Beijing to come back to the negotiating table for talks about a long list of what the White House sees as trade abuses.

‘I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!’ Trump wrote on Twitter. 

But China showed no sign of backing down. 

The Dow Jones Industrial Average plummeted more than 700 points Monday before ending the day down 617 as traders reacted to an increasingly aggressive U.S.-China trade war; the bleeding temporarily stopped after Trump announced he will meet with Xi next month

The Dow Jones Industrial Average plummeted more than 700 points Monday before ending the day down 617 as traders reacted to an increasingly aggressive U.S.-China trade war; the bleeding temporarily stopped after Trump announced he will meet with Xi next month

A statement by the Tariff Policy Commission of the State Council, China’s cabinet, said: ‘China’s adjustment of tariff-adding measures is a response to US unilateralism and trade protectionism.’

It added that it hoped the U.S. would work with China towards a ‘win-win agreement.’ Despite the retaliation, Beijing appeared to give time to find a resolution by setting the June 1 date. 

‘China will never surrender to external pressure,’ foreign ministry spokesman Geng Shuang said during a regular press briefing on Monday. 

Trump continues to insist the U.S. has the upper hand and will force China to give in on conditions for future trade in order to ink a stable deal. 

‘We’re in a great position right now, no matter what we do,’ he said. ‘Yeah, I think China wants to have it, because companies are already announcing they are … leaving China and going to other countries so they don’t have to pay the [U.S.] tariff.’ 

A container ship sat docked at the Port of Oakland on Monday in California as China retaliated against Trump's latest Tariffs by threatening their own – a 25 percent import tax on $60 billion of U.S. goods entering China

A container ship sat docked at the Port of Oakland on Monday in California as China retaliated against Trump’s latest Tariffs by threatening their own – a 25 percent import tax on $60 billion of U.S. goods entering China

Trump spoke to reporters Monday in the Oval office alongside Viktor Orbán, the right-wing prime minister of Hungary

Trump spoke to reporters Monday in the Oval office alongside Viktor Orbán, the right-wing prime minister of Hungary

The Dow was down than 475 points when markets opened. That selloff came after China announced that its tariff increases would go into effect on June 1. 

But Trump appeared to stop the bleeding temporarily by giving traders hope that the day’s uncertainties would have an expiration date. 

The four worst single-day losses in the history of the Dow Jones average all came during the Trump presidency, in 2018. He also presided over the biggest-ever daily gain, and six of the top 10.

This year’s January 3 selloff, which dropped the Dow by 660 points, was immediately followed by a gain of nearly 747 points the next day – the fourth-largest gain ever.

 Monday’s fall in the Dow Jones index came after stocks weathered a pair of similar tumbles this month, losing value when President Donald Trump announced new tariffs on Chinese goods and then rebounding on the hope of a trade deal. 

The result has been a volatile week-long roller coaster with no end in sight. 

Last Thursday morning the Dow skidded 580 points, only to regain nearly 470 by close of trading on Friday. 

The tech-heavy NADAQ stock index was down 1.7 per cent on Monday and the S&P 500 lost 2.1 per cent by midday.  

The president insisted over the weekend that a robust 3.2 per cent growth in the American GDP is tied to his aggressive tariff policy, and suggested Monday that China has far more to lose than the U.S.

‘I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!’ Trump wrote on Twitter. 

 



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