Trump threatens to impose "reciprocal tax" on India, China

Trump threatens to impose

Chinese Foreign Minister Wang Yi on Thursday said it is time the "China threat theory" was laid to rest.

He said China would work with the other members to help the group "meet worldwide expectations, take a clearer stand on major worldwide and regional issues and play a more active role in regional cooperation and global economic governance". The US President even mentioned that the country was losing $500 billion a year to China for which there was a need to do something. Were going to have a great relationship, hopefully, with China, but we have to do something.

Wang reacted strongly to a question whether the Indo-Pacific strategy being furthered by India, the US, Japan and Australia will affect China's Belt and Road Initiative (BRI).

Speaking on the sidelines of the ongoing National People's Congress annual session on Thursday (Mar 8), Foreign Minister Wang Yi said China will join hands with the Association of Southeast Asian Nations (Asean) to allay the effects of the disruptions so that the South China Sea can continue to be a sea of peace and cooperation. Experts also warn that the matter of trade and tariffs are also tied in with strategic issues: The US has geo-political obligations with some of its major trading partners, which is why Canada and Mexico have got a temporary pass.

The US, he said, is negotiating now with China. I dont know that anything is going to come of it.

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President Xi Jinping sent his top economic aide, Liu He, to Washington to discuss trade issues last week on the heels of a similar visit by state councilor Yang Jiechi last month.

Then-President Doris Leuthard offered in September to mediate in the US-North Korea dispute, noting that Switzerland had a long history of neutral and discreet diplomacy. We send our vehicle over there, pay 25 per cent. They never did anything about it. If they are at 50, or they are at 75 or they are at 25, we are going be at the same number. Further speaking on this issue, the USA president said that if these countries (India and China) charge them 50% the United States would also charge them equally.

Earlier, Trump had picked on India for high import duties on America's Harley-Davidson motorbikes sold in India.

The U.S.is said to be considering clamping down on Chinese investment and imposing tariffs on a broad range of goods to punish Beijing over unfair intellectual-property practices as part of an ongoing U.S. investigation ordered by Trump. Right now, they'll charge us 50, we charge them nothing. It's called a reciprocal tax, mirror tax.

The United States President imposed import duty on steel and aluminium. A South Korean special envoy arrived in Washington on Thursday bringing a message to the Trump Administration from North Korean leader Kim Jong-un and, on Tuesday, North Korea offered to put denuclearisation on the table if talks are held with the United States and its security was guaranteed.

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