WASHINGTON — U.S. President Donald Trump on Wednesday welcomed China’s decision to exempt some U.S. anti-cancer drugs and other goods from its tariffs and announced a delay to scheduled tariff hikes on billions worth of Chinese goods.
Beijing’s exemptions and Washington’s delay came days ahead of a planned meeting aimed at defusing a trade war between the world’s two largest economies.
China’s decision to exempt some U.S. goods was a “big move” by Beijing and a positive gesture before trade negotiators from both countries meet in Washington, Trump told reporters at the White House.
China on Wednesday announced its first batch of tariff exemptions for 16 types of U.S. products, including some anti-cancer drugs and lubricants, as well as animal feed ingredients whey and fish meal, according to a Ministry of Finance statement on its website.
Beijing said in May that it would start a waiver program, amid growing worries over the cost of the protracted trade war on its already slowing economy.
“They made a couple of moves … that were pretty good,” Trump said at an unrelated event on vaping. “I think it was a gesture, okay? But it was a big move.”
On Wednesday, Trump wrote in a post on Twitter that the United States had agreed to delay increasing tariffs on $250 billion worth of Chinese imports from Oct. 1 to Oct. 15 “as a gesture of good will.” The tariffs were set to increase to 30% from 25% on the goods.
Trump said he hoped to reach a trade agreement with China following more than a year of tit-for-tat exchanges of tariffs that have roiled global markets.
“I deal with them and I know them and I like them,” he said. “I hope we can do something.”
Deputy trade negotiators are due to meet in Washington in mid-September, with minister-level talks to follow in October. Exact dates for the meetings have not been released.
The gestures may ease tensions ahead of the negotiations, but some analysts don’t see it as a signal that both sides are readying a deal.
“The exemption could be seen as a gesture of sincerity towards the U.S. ahead of negotiations in October but is probably more a means of supporting the economy,” ING’s Greater China economist Iris Pang wrote in a note.
“There are still many uncertainties in the coming trade talks. An exemption list of just 16 items will not change China’s stance,” she said.
Indeed, the exempted list pales in comparison to over 5,000 types of U.S. products that are already subject to China’s additional tariffs. Moreover, major U.S. imports, such as soybeans and pork, are still subject to hefty additional duties, as China has ramped up imports from Brazil and other supplying countries.
Beijing has said it would work on exempting some U.S. products from tariffs if they are not easily substituted from elsewhere. The United States is by far China’s largest supplier of whey, which is an important ingredient in piglet feed and difficult to source in large volumes from elsewhere.
Analysts say that with its duties on soybeans and U.S.-made cars, China is taking aim at a key political support base of Trump, mainly the factories and farms across the Midwest and South at a time of receding momentum in the world’s top economy.
China has imposed several rounds of duties on U.S. goods in retaliation against U.S. Section 301 tariffs, beginning last year in July and August with a 25% levy on about $50 billion of U.S. imports.
In all, the United States and China have slapped tariffs on hundreds of billions of dollars worth of goods in a bitter trade war that has raised the specter of a global recession, with further tariffs slated to take effect in coming months.
The items on the two tariff exemption lists – posted on the ministry’s website – will not be subject to additional duties imposed by China on U.S. goods “as countermeasures to U.S. Section 301 measures,” the ministry said in its statement.
The exemption will take effect on Sept. 17 and be valid for a year through to Sept. 16, 2020, it said.
ING’s Pang noted the United States had also exempted imports of 110 Chinese products from tariffs in July, including high-value items such as medical equipment and parts.
Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to meet in early October in the U.S. capital, but key officials are tamping down expectations for a major accord.
For two years, the Trump administration has sought to pressure China to make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access.
Beijing and Washington were close to a deal last spring but U.S. officials said China backed away from an agreed text over a reluctance to change laws to address U.S. complaints.
The South China Morning Post reported, citing an unidentified source, that China was expected to buy more agricultural products in hopes of a better trade deal with the United States.
Senior White House adviser Peter Navarro this week urged investors, businesses and the public to be patient about the trade dispute.
Earlier on Wednesday, a survey by a prominent American business association showed the trade dispute was souring the profit and investment outlook for U.S. companies operating in the world’s second-biggest economy.
Joe Biden hits back amid reports Trump pressured Ukraine to investigate his son
“Trump’s doing this because he knows I’ll beat him like a drum,” Biden said. The comments come amid reports that President Trump pressed the head of Ukraine to investigate Hunter Biden, according to the Wall Street Journal. The Trump administration also announced it would deploy troops to Saudi Arabia after the attack on its oil fields last week.
Elizabeth Warren edges out Joe Biden in Des Moines Register Iowa poll
The poll out Saturday night found Warren was the top choice for the Democratic nomination with 22 percent support among likely caucus-goers, while Biden had the support of 20 percent of respondents. Vermont Sen. Bernie Sanders fell to third with 11 percent.
The poll was conducted of 602 likely Democratic caucus-goers from Sept. 14-18. The margin of error is plus or minus 4 percentage points.
The last Register/CNN poll, in June, had Biden leading with 24 percent and Warren in the third spot at 15 percent, slightly behind Bernie Sanders, who came in second with 16 percent support.
While there have been several other recent polls of the crucial first-in-the-nation caucus state, the Des Moines Register’s Iowa Poll, conducted by Des Moines-based pollster Ann Selzer, is widely considered to be the most accurate, so its Saturday night releases have become must-watch events for Iowa politicos.
The poll was released after the entire 2020 Democratic presidential field gathered in Des Moines Saturday for the annual Steak Fry, a fundraising event hosted by the local Democratic Party club.
Warren surged 7 points in the poll since the June survey, while Biden lost a bit of ground, putting them neck-and-neck inside the poll’s margin of error.
Sanders and Mayor Pete Buttigieg of South Bend, Indiana, both slipped significantly, down 5 and 6 percentage points, respectively, leaving Buttigieg at 9 percent, down from 15.
The rest of the field, meanwhile, is mired in the single digits.
California Sen. Kamala Harris held steady at 6 percent, New Jersey Sen. Cory Booker gained a couple of points to land at 3 percent, while coming at 2 percent were Minnesota Sen. Amy Klobuchar, former Texas Rep. Beto O’Rourke, billionaire Tom Steyer, Hawaii Rep. Tulsi Gabbard and entrepreneur Andrew Yang. Everyone else was at 1 percent or below.
Still, just one-in-five likely Democratic caucus-goers said they had already made up their minds so the race remains fluid. Almost two-thirds said they were open to being convinced to support someone else.
“The data in this poll seem to suggest the field is narrowing, but my sense is there’s still opportunity aplenty,” Selzer told the Register. “The leaders aren’t all that strong. The universe is not locked in.”
But the data is unquestionably good news for Warren, who is now both the best-liked candidate in the field (75 percent view her favorably) and the candidate being considered by the most likely caucus-goers (71 percent).
Voters go ‘center-left’ on issues, but not on candidates
WASHINGTON – When it comes to issues and issue agendas, there is good news and bad news for Democrats in 2020 in the latest NBC News/Wall Street Journal poll.
On the good news side of the ledger, there some key issues where voters seem supportive of left-leaning ideas and approaches. The bad news, a leftward-lean does not mean a leftward rush. If Democratic candidates push too hard in the primaries they may find themselves with problems in the general election.
The issue agreements and differences with registered voters and Democratic primary voters are eye-opening and, in some cases, surprising.
One number that jumps out of the data, 58 percent of registered voters in the survey say they support “providing free tuition at state colleges and universities.” That’s lower than the 81 percent of Democratic primary voters who support the idea and there’s a lot of wiggle room in how respondents may have interpreted the question (would it be means-tested?), but it’s still a majority.
And there are a series of issues like that one, where Democrats seem to have registered voters in their corner on topics ranging from immigration and student debt to health care and the environment.
For instance, 67 percent of registered voters and 89 percent of Democratic primary voters say they favor allowing young adults who were brought illegally to this country to stay here to attend college. On student debt, 64 percent of registered voters and 82 percent of Democratic primary voters favor forgiving student loans after someone has paid 12.5 percent of their income every year for 15 years.
The two groups are also in agreement on offering a health insurance “public option” for people younger than 65 who want to buy into it, 67 percent and 78 percent favor that idea respectively. And both registered voters and Democratic primary voters favor “shifting the country to 100 percent renewable energy and stopping the use of coal, oil, natural gas, and nuclear power by the year 2030” – 52 percent and 81 percent support that idea.
Those are numbers that should bring smiles to the faces of Democrats. They show a lot of broad support on some major issues that Democrats say they favor and seem to suggest Democrats are in a good spot to win voters in 2020.
For the record, the data also show that both registered voters and Democratic primary voters oppose building a wall on the U.S.-Mexico border and oppose eliminating the Affordable Care Act.
But there is another set of numbers in the poll that show the challenges Democrats could face on these same issues if their nominee heads down a path that goes a little further to the left.
On immigration, 64 percent of Democratic primary voters want to give undocumented immigrants government health care, only 36 percent of registered voters want that. When it comes to student debt, 60 percent of Democratic primary voters say they favor immediately canceling and forgiving all current student loan debt, but only 41 percent of registered voters support that idea.
A solid 63 percent of Democratic primary voters back a “Medicare for all” single-payer health care system “in which private health insurance would be eliminated” – only 41 percent of registered voters agree. And while 58 percent of Democratic primary voters support an end to the practice of “fracking” for oil and gas production, only 41 percent of registered voters feel the same way.
Those are some wide gaps and the splits show that winning general election support is not just about talking about the right issues (clean energy, fixing student debt), it’s about talking about them in the right way.
The registered voter answers on these questions suggest that the U.S. electorate become a center-left entity in the last few elections, one that is embracing more liberal action on issues such as climate change, health care and college costs.
But these numbers also suggest that the “center-left” is not the “left” and that’s where many Democratic primary voters reside.
The next six to eight months will determine where the Democratic nominee eventually ends up on these issues. And if the party’s nominee moves too far too fast to placate primary voters, he or she may end up standing on uncomfortable ground next November.
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