|Illustration: Lazaro Gamio/Axios|
A big Chinese trade counter-assault may be on its way: a deliberate devaluation of the yuan, with the aim of offsetting the impact of U.S. tariffs, experts tell Axios - for visual’s text, go to https://www.axios.com/chinas-coming-russian-counter-strike-62c4ffa3-5290-46d7-844e-4ad8e88f880b.html
RUSSIA WILL TAKE CHINA'S SIDE AGAINST U.S. IN WORLD TRADE WAR
BY TOM O'CONNOR ON 6/20/18 AT 1:06 PM
Russia's economic development minister revealed Tuesday that his government was prepared to side with China in a burgeoning global trade war with the U.S. President Donald Trump's protectionist trade policies have led China and the European Union to hit back at new U.S. tariffs intended to discourage foreign purchases of steel and aluminum. As a result, the Russian minister, Maxim Oreshkin, said Moscow would assert its rights as guaranteed by the World Trade Organization (WTO) to retaliate with duties against U.S. imports. "Due to the fact that the U.S. continues to apply protective measures in the form of additional import duties on steel and aluminum and refuses to provide compensation for Russia's losses, Russia is using its WTO rights and introducing balancing measures with respect to imports from the United States," Oreshkin said, according to Russian newspaper Kommersant. Oreshkin noted that such measures will affect only products that "have alternatives within the Russian Federation" and that the final list would be announced by his ministry in the coming days. While declining to go into specifics, he said the duties would not include medicines but may include construction products … for video presentation, go to https://www.newsweek.com/russia-will-take-china-side-against-us-world-trade-war-986417
Yes, Mr Erdogan! You and your country can live without the US!
https://www.youtube.com/watch?v=MJLpGiHhr8E&feature=share (VIDEO: China's Economic Miracle | The Rise of China Mini-Documentary | Episode 1)
KUALA LUMPUR (Aug 2018): As the US continues to rock the global economic order with its sanctions and tariffs, the China-Russia Combo is likely to gain more friends in trade and business.
The Reuters news report titled Erdogan says Turkey will boycott U.S. electronic products is the latest testimony of how the US continues to alienate itself from the global economy.
It does appear the US is unable to think out of the box in trying to consolidate its global influence - relying of threats, sanctions and tariff on nations that defy the US world dominance agenda.
It sure looks like the US is unaware that the 21st Century world today is all about science and technology progress and development.
Instead of spending more time and funding on science and technology, it continues to wage war, which the US had dominated in the 20th Century!
Is it any wonder that the China-Russia Combo is today gaining more global influence and influence with its science, technology and economic progress?
Doesn’t the US realise that the rest of the world in the 21st Century can live without the US?
And this is exactly why Turkish president Tayyip Erdogan had zero fear of the US:
"Erdogan says Turkey will boycott U.S. electronic products
Tuesday, 14 Aug 2018
5:39 PM MYT
(Reporting by Daren Butler and Humeyra Pamuk; Writing by Dominic Evans; Editing by Ece Toksabay)
U.S. official warns of more actions against Turkey if pastor not freed
Wednesday, 15 Aug 2018
2:24 AM MYT
by steve holland
WASHINGTON (Reuters) - The United States is warning more economic pressures may be in store for Turkey if it refuses to release a jailed American pastor, a White House official said on Tuesday, in a dispute that has further strained relations between the NATO allies.
The tough message emerged a day after White House national security adviser John Bolton met privately with Turkish ambassador Serdar Kilic about the case of evangelical pastor Andrew Brunson. Bolton warned him that the United States would not give any ground, a senior U.S. official said.
The White House official, speaking to Reuters on condition of anonymity, said "nothing has progressed" thus far on the Brunson case.
“The administration is going to stay extremely firm on this. The president is 100 percent committed to bringing Pastor Brunson home and if we do not see actions in the next few days or a week there could be further actions taken," the official said.
Relations between Turkey and the United States have been soured by Brunson’s detention, as well as diverging interests on Syria. Trump doubled tariffs on imports of Turkish steel and aluminium last week, contributing to a precipitous fall in the lira.
The United States is also considering a fine against Turkey’s state-owned Halkbank for allegedly helping Iran evade U.S. sanctions. Earlier this month, the United States imposed sanctions on two top officials in President Recep Tayyip Erdogan’s cabinet in an attempt to get Turkey to turn over Brunson.
Brunson is accused of backing a coup attempt against Turkish Erdogan two years ago, charges that he has denied. He is being tried on terrorism charges.
Brunson has appealed again to a Turkish court to release him from house arrest and lift his travel ban, his lawyer told Reuters on Tuesday.
(Reporting by Steve Holland; Editing by Mary Milliken and James Dalgleish)"
|US lobsters are among goods subject to Chinese retaliatory tariffs|
China and Russia hit back at Trump tariffs
6 July 2018
China has hit back after US tariffs on Chinese goods came into effect and President Donald Trump threatened to impose more. China's commerce ministry said it had lodged a new complaint with the World Trade Organization (WTO). Meanwhile, Russia has announced extra duties on US imports in retaliation for earlier US steel tariffs … for more, go to https://www.bbc.com/news/business-44742714