Tags: donald trump | china | tariffs | steel | european union

Economist: China Will Force Trump to Make Difficult Choices

By    |   Monday, 04 June 2018 04:23 PM

China appears to be on a mission to crush the U.S. steel market and President Donald Trump must make difficult decisions on how to combat the threat, Peter Morici, an economist and professor of international business at the University of Maryland, told Newsmax TV on Monday.

“The Chinese government seems hell bent on exterminating Western steel. The Europeans say they want to support us in regard to China, but they don’t do much,” Morici told Miranda Khan and John Cardillo on Newsmax’s “America Talks Live.”

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On Saturday, the G6 – a group of finance ministers from six of the world's biggest economies -- expressed "disappointment" over Trump's unilateral decision to place tariffs on steel and aluminum on its allies including Canada, Mexico and the European Union.

It’s a slap that China -- which peddles cheap steel that has pushed some producers around the world out of business -- is using to stall trade negotiations with the U.S., according to Morici.

“Are we on the verge of a trade war? It’s more likely with China ... They read the G6’s rebuke of Trump as an opportunity to stonewall the United States or they were going to stonewall us anyway,” Morici said.

Trump has threatened to place tariffs on up to $200 billion in Chinese imports, raising the possibility of retaliation.

“Now Mr. Trump is really faced with a hard choice. The kinds of tariffs he’s talking about in regard to China, not the first $50 billion, but the next $100 billion up to $150 billion is quite substantial. I don’t know that it’s the best way to go about it,” Morici said.

“But I do know that a very firm trade measure is needed with regard to China and it has to go beyond that to include investment restrictions and things of that nature.”

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China appears to be on a mission to crush the U.S. steel market and President Donald Trump must make hard decisions on how to combat the threat, Peter Morici, an economist and professor of international business at the University of Maryland, told Newsmax TV on Monday.
donald trump, china, tariffs, steel, european union
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2018-23-04
Monday, 04 June 2018 04:23 PM
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