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U.S.-China trade war’s time line/ EU is US ally

In China, Economy on 23/04/2018 at 4:17 am

 

Remember a trade war will hurt property prices badly: Why en-blocers could be in for a nasty surprise.

From NYT’s Dealbook

The timeline for a potential U.S.-China trade war

As the U.S. and China continue to posture over trade — alarming U.S. farmers, many of whom are in key electoral districts in the Midwest — it’s worth noting three upcoming dates, Peter Eavis writes.

On May 1, exemptions to the tariffs on imported steel and aluminum expire.
On May 22, the public comment period ends for another $50 billion worth of tariffs, and the Trump administration can announce a final list of targets.
And Aug. 18 is potentially the deadline for the administration to act on an investigation into Chinese trade practices. But there’s a provision for a 180-day delay after that.
Key caveats: President Trump has the power to pursue trade policy almost at whim. And a W.T.O. proceeding against China could take years.

Is the E.U. bending to Trump on trade?
With its $16 trillion economy and reputation for tough negotiating, the E.U. could have been the immovable object in President Trump’s trade fight. But that is looking less likely, Peter Eavis writes.
Why? The WSJ reports that the E.U. is prepared to offer concessions to avoid Mr. Trump’s threatened tariffs on imported steel and aluminum that Mr. Trump has threatened — perhaps reducing tariffs on American cars and industrial parts, and joining the U.S. in pressuring China on trade and investment rules.
Among the lessons if the E.U. concedes: The U.S.’s large trade deficits can give it leverage.
Beijing appears keenly aware of the risks here and is sure to press its case at a China-E.U. summit in July.

 

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