Saturday, June 9, 2018

China's strategy will be N. Korea's strategy of course

U.S. Treasury Secretary Steven Mnuchin, center, leaves his hotel in Beijing, Friday, May 4, 2018. A high-powered U.S. delegation met for a second day of talks with Chinese officials on defusing tensions that are propelling the world’s largest two economies toward a trade war. (AP Photo/Mark Schiefelbein)
5-4-18   The two sides appear to be at loggerheads, with both making long lists of demands the other won’t meet, analysts say.  https://www.seattletimes.com/business/china-u-s-far-apart-as-trumps-trade-team-returns-home/
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The high-level US trade delegation will be comprised of (clockwise from top left) Steven Mnuchin, Robert Lighthizer, Peter Navarro, Larry Kudlow, Wilbur Ross and Terry Branstad. PHOTOS: BLOOMBERG, AFP, THE WASHINGTON POST, REUTERS
5-3-18   US Treas. Sec. S. Mnuchin, a former banker, Hollywood film financier and Trump campaign finance manager, holds the top cabinet post overseeing economic and financial regulatory policy.
  The ex-Goldman Sachs executive was once viewed as one of the administration's "globalists" allied with former White House economic adviser Gary Cohn in opposition to tariffs.  But in recent months, he has voiced strong support for Trump's tougher trade approach to China and steel and aluminium tariffs.  The Treasury is now developing US investment restrictions on Chinese companies.
R. Lighthizer served as a deputy USTR in the 1980s, using tariff threats to win voluntary export restraints from Japan on autos and steel, earning a reputation as a tough negotiator. The Washington trade lawyer has long expressed views that China has failed to live up to obligations that came with joining the World Trade Organization in 2001.  He led USTR's "Section 301" intellectual property study alleging that China misappropriated US technology, resulting in threatened tariffs on up to US$150 billion (S$200.2 billion) in Chinese goods.  Lighthizer said this week that changing the US relationship with China is "a big, big challenge" that would play out over years.
P. Navarro, a former economics professor at the University of California-Irvine, won notoriety for his controversial book and film, "Death by China".  He holds the most hawkish views on Chinese trade policy, and is seen as likely to oppose a short-term agreement that does little to change the course of China's industrial policy.  He recently argued on Fox Business News that the tariffs are designed to compensate the United States for "robbing our technology blind," adding:  "If you allow China to basically capture the industries of the future, we won't have a future."...
W. Ross, the 80-year-old billionaire investor and steel executive, has been a strong advocate of tariffs to level the playing field for US companies. At Commerce he heads the administration's stepped up anti-dumping enforcement efforts and presided over global steel and aluminium tariffs enacted in March.  But Ross' influence in trade policy has waned somewhat after Trump rejected a deal that Ross had arranged last July during the last major US-China economic dialogue in Washington....
E. Eissenstat serves as the "sherpa" negotiating on behalf of the United States at major international economic gatherings such as the G20 and G7 summits.
A long-time trade hand who once worked at USTR, he was most recently the chief trade lawyer for the Senate Finance Committee, where he helped pass the 2015 "fast track" trade negotiating authority legislation.
Eissenstat briefed reporters on Trump's first US$50 billion in tariffs, saying that China had used technology transfers from US companies "to establish its own competitive advantage in an unfair manner".  https://www.straitstimes.com/asia/east-asia/us-trade-team-arrives-in-china-to-talk-tariffs-policy-heres-a-look-at-who-they-are
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7-7-17  Everett Eissenstat and Uruguay James Nealon. Photo Credit: U.S. Embassy in Uruguay
As President Trump faces other leaders at the Group of 20 summit in Germany this week, his new "Sherpa" will do the heavy dealmaking behind the scenes on everything from trade to climate and energy.
The goal for Everett Eissenstat, a trade expert with deep Republican connections on Capitol Hill: Please the president without alienating the rest of the world.
Eissenstat, Trump's negotiator at the summit, has spent the past several days negotiating the text for a communiquĂ© Trump and other world leaders are expected to sign in Hamburg tomorrow.  https://www.eenews.net/stories/1060057082
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trade impasse US/China:
https://www.nytimes.com/2018/06/03/world/asia/us-china-trade.html

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