Trump officials to appeal court ruling lifting White House ban on Associated Press – US politics live
Court filing reported by Reuters shows White House appealing against judge’s order to restore full access to the AP China’s move to impose 84% retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing, the US treasury secretary, Scott Bessent, said on Wednesday, as he urged China to “come to the table” with the Trump administration.“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said in an interview with Fox Business Network.I can tell you that this escalation is a loser for them, that they have some very smart the economist and the academicians, technocrats within their bureaucracy, and they would be telling the leadership that we do not have the edge here. They are the surplus country that their exports to the US are five times our exports to China. So they can raise their tariffs. But so what?No one wins in a war. But it’s proportionality. And the proportionality for the Chinese is going to be much worse.That is the big win here. The US is trying to rebalance toward more manufacturing. China needs to rebalance towards more consumption.If China starts devaluing, then that is a tax on the rest of the world and everyone will have to keep raising their tariffs to offset the devaluation. So I would urge them not to do that and to come to the table. Continue reading...
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Court filing reported by Reuters shows White House appealing against judge’s order to restore full access to the AP
China’s move to impose 84% retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing, the US treasury secretary, Scott Bessent, said on Wednesday, as he urged China to “come to the table” with the Trump administration.
“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said in an interview with Fox Business Network.
I can tell you that this escalation is a loser for them, that they have some very smart the economist and the academicians, technocrats within their bureaucracy, and they would be telling the leadership that we do not have the edge here. They are the surplus country that their exports to the US are five times our exports to China. So they can raise their tariffs. But so what?
No one wins in a war. But it’s proportionality. And the proportionality for the Chinese is going to be much worse.
That is the big win here. The US is trying to rebalance toward more manufacturing. China needs to rebalance towards more consumption.
If China starts devaluing, then that is a tax on the rest of the world and everyone will have to keep raising their tariffs to offset the devaluation. So I would urge them not to do that and to come to the table. Continue reading...
