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US-China trade war: No winners in Cold war, Hot war, Trade war, says Xi Jinping

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us china trade war

[vc_row][vc_column][vc_column_text]There are no winners in wars, whether ‘hot’, ‘cold’ or in trade, Chinese President Xi Jinping said today (Saturday, November 17), at a business conference ahead of Asia-Pacific Economic Cooperation (APEC) summit.

“History has shown that confrontation — whether in form of cold war, hot war or trade war — will produce no winners,” Xi said. The US-China trade war is expected to dominate the APEC summit in Papua New Guinea.

Jinping also defended China’s ‘Belt and Road’ infrastructure initiative, insisting it was “not a trap” amid criticism from the United States among others.

“It is not designed to serve any hidden geopolitical agenda, it is not targeted against anyone and it does not exclude anyone… nor is it a trap as some people have labelled it,” Xi told business leaders.

Xi called for nations to uphold a rules-based order led by the World Trade Organization. Xi said the world should “uphold the WTO-centred multilateral trading system, make economic globalisation more open, inclusive, balanced and beneficial to all.”

“Attempts to erect barriers and cut close economic ties work against the laws of economics and the trends of history. This is a short-sighted approach and it is doomed to failure,” Xi told business leaders on the sidelines of the summit. We should say no to protectionism and unilateralism,” Xi said, in a veiled swipe at the ‘America First’ policies of Donald Trump’s administration, warning that those who close their doors “will only cut himself off from the rest of the world and lose his direction.”

Protectionism and unilateralism were overshadowing global growth, and a policy of erecting economic barriers was doomed to fail, Xi said.

US Vice President Mike Pence – who spoke at the forum directly after Xi – said the tariffs were a response to the “imbalance” with China. The US has so far imposed tariffs on $250 billion in Chinese imports. In retaliation, China has slapped tariffs on $110 billion in imports from the U.S. and effectively shut off its purchase of key American agricultural exports including soybeans.

“The United States, though, will not change course until China changes its ways,” he said.

Pence later said he was prepared to “more than double” the tariffs imposed on Chinese goods. His comments come a day after President Donald Trump told reporters he was confident a deal between China and the US “will be made”.

However, he said a number of key issues had not been included on a list for negotiation ahead of next month’s G20 summit in Argentina, meaning it was “not acceptable” yet to the president.

The president has made similar comments previously.

Pence began his speech by saying the US commitment to the Indo-Pacific had never been stronger. He criticized infrastructure funding that saddled developing nations with debt and took a swipe at China’s Belt and Road Initiative.

“The United States offers a better option. We don’t drown our partners in a sea of debt,” he said. “We don’t offer a constricting belt or a one-way road.”

Xi defended his country’s massive ‘Belt and Road’ infrastructure initiative amid attacks that it is akin to ‘chequebook diplomacy’ to further Chinese interests in the region.

“It is not designed to serve any hidden geopolitical agenda, it is not targeted against anyone and it does not exclude anyone… nor is it a trap as some people have labelled it,” he said.

APEC members the US and China have become embroiled in a trade war that experts warn could be catastrophic for the global economy, with the world’s top two powers going head to head.

Both the countries have imposed tariffs worth billions of dollars of each other’s goods and there is little sign of an immediate easing in tensions, with both sides threatening to step up action if necessary.

US President Donald Trump has decided to skip the APEC summit, which some critics say has left the stage free for China to bolster its influence in the region.

In contrast to Trump, Xi arrived two days before the summit, opening a new road and a school in Port Moresby and holding talks with Pacific Island leaders.

In the absence of Trump and Russian President Vladimir Putin, the summit has been relatively low key and the focus has turned to the venue Port Moresby.

Officially, the 21 leaders from Asia-Pacific countries will discuss improving regional economic cooperation under the theme of “embracing the digital future” but trade tensions are likely to dominate.

Foreign ministers meeting ahead of the summit were unable to publish a joint statement, apparently due to differences over language on World Trade Organization reform.

The capital of Papua New Guinea has been ranked as one of the least liveable cities for ex-pats, with a high level of crime, often perpetrated by feared street gangs known as “raskols”.

Delegates have been advised not to venture out alone — especially after dark — and officials and journalists have been hosted on massive cruise ships moored in the harbour due to safety issues and a dearth of hotel rooms.

The run-up to the summit was also overshadowed by the purchase of 40 luxury Maserati cars which sparked anger in the poverty-hit country which suffers from chronic healthcare and social problems.[/vc_column_text][/vc_column][/vc_row]

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China reacts to Donald Trump’s 10% tariff remarks, says it would protect its national interest

While acknowledging a willingness to maintain open communication channels and collaborative efforts with the U.S., China firmly rejected the notion of a trade war, emphasizing that such conflicts ultimately yield no winners.

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China has issued a firm response to US President Donald Trump’s renewed threat to impose a 10% tariff on Chinese imports, beginning February 1. The statement, released by the Chinese foreign ministry, underscores Beijing’s unwavering commitment to safeguarding its national interests amidst escalating trade tensions with the United States.

While acknowledging a willingness to maintain open communication channels and collaborative efforts with the U.S., China firmly rejected the notion of a trade war, emphasizing that such conflicts ultimately yield no winners.

The statement directly addresses Trump’s justification for the proposed tariffs, citing the flow of fentanyl from China through Mexico and Canada into the United States. This latest escalation marks a significant development in the long-standing trade dispute between the two economic giants.

The proposed tariffs, scheduled for implementation on February 1st, echo a similar threat made by Trump earlier, targeting Canada and Mexico with 25% tariffs over concerns about illegal immigration and fentanyl trafficking.

This consistent pattern of utilizing tariffs as a tool to address broader geopolitical concerns highlights the complex and multifaceted nature of the relationship between the United States and its major trading partners.

China’s economy, heavily reliant on exports to sustain its economic growth, faces significant vulnerability to such protectionist measures. Despite ongoing efforts to diversify its economy and boost domestic consumption, exports remain a crucial pillar of China’s economic engine. The potential impact of a 10% tariff on Chinese goods entering the U.S. market could trigger substantial ripple effects throughout the global economy.

The current trade tensions represent a continuation of a protracted struggle dating back to the Trump administration’s first term, marked by the imposition of substantial tariffs on Chinese imports over alleged unfair trade practices.

These actions were further reinforced by the subsequent Biden administration, which implemented sweeping measures aimed at restricting Chinese access to critical high-tech components.

Trump’s recent pronouncements signal a potential further escalation of these long-standing trade disputes. China’s response clearly indicates its readiness to defend its economic interests and navigate the complex landscape of international trade relations.

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Barron Trump, now towering at 6’9″, takes center stage at father’s inauguration

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Barron Trump, now towering at 6'9", takes center stage at father's inauguration

During the recent presidential inauguration, Barron Trump, the son of President Donald Trump and First Lady Melania Trump, captured significant attention due to his impressive stature and growing influence. Now 17, Barron stands a striking 6 feet 9 inches tall and has taken on an advisory role within his father’s political campaign.

At the ceremony, President Trump took a moment to highlight Barron’s contributions, especially his insights into the youth electorate, which reportedly helped secure a substantial lead in that demographic. “Barron has a deep understanding of the youth vote, encouraging strategies that ultimately delivered us a 36-point lead among young voters,” stated President Trump during his speech.

Barron, who celebrated his first vote in the last November election, has been recognized not only for his height but also for his intellect and strategic thinking. His suggestion for his father to appear on the Joe Rogan podcast, which amassed over 50 million views, was a notable campaign triumph.

Born on March 20, 2006, Barron is the youngest child of Donald and Melania Trump and the only one among his siblings to have attended St. Andrew’s Episcopal School in Maryland, following his earlier education at Columbia Grammar and Preparatory School in Manhattan. He is currently a freshman at New York University’s Stern School of Business.

His appearance at the inauguration not only highlighted his stature but also his growing importance in Trump’s circle, marking him as a significant figure in the current political landscape.

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Biden issues pre-emptive pardons in final hours to shield key figures from political prosecution

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In a dramatic and unprecedented move just hours before leaving office, President Joe Biden has issued a series of pre-emptive pardons to prominent figures who could face politically motivated charges under the incoming administration of Donald Trump. The pardons include former COVID-19 advisor Dr. Anthony Fauci, retired general Mark Milley, and members of the U.S. House committee that investigated the January 6 Capitol attack.

Biden issued a statement on Monday, emphasizing the need to protect these individuals from potential “politically motivated prosecutions” that could be initiated once Trump assumes office. “These public servants have served our nation with honor and distinction, and they do not deserve to be the targets of unjustified and politically motivated prosecutions,” Biden said, asserting that he could not, in good conscience, remain inactive as these figures faced potential legal battles.

Among the key figures pardoned are Dr. Fauci, who became the face of America’s response to the COVID-19 pandemic. Throughout the Trump administration, Fauci’s clear and science-backed messages often put him at odds with the president and his allies, who criticized his approach. His prominence during the pandemic made him a frequent target for right-wing figures, including Elon Musk, who called for his prosecution.

General Milley, who served as Chairman of the Joint Chiefs of Staff under Trump, was also granted a pardon. Milley had drawn Trump’s ire after making critical remarks about the former president and discussing his actions during the January 6 attack. Furthermore, Milley’s secret communications with his Chinese counterpart during the Capitol riot, aimed at reassuring China of the U.S. military’s stability, sparked a storm of controversy, with Trump calling for his execution on social media.

In addition to Fauci and Milley, Biden also pardoned members, staff, and witnesses associated with the House committee investigating the January 6, 2021, Capitol insurrection. These individuals, including former Republican Congresswoman Liz Cheney, faced significant personal and political threats as they uncovered the extent of Trump’s involvement in the violent attack by his supporters.

Biden’s decision to issue these pardons was framed as a protective measure for public servants who have been subjected to what he described as “baseless and politically motivated investigations” that, according to him, have caused undue harm to these individuals’ personal and professional lives. The pardons, however, were also accompanied by a statement clarifying that they should not be viewed as an admission of any wrongdoing.

Trump, who was set to be inaugurated on the same day, has repeatedly promised “retribution” against his political opponents. He has vowed to use the full extent of his power to prosecute those he sees as enemies, including members of the January 6 committee and figures who opposed his agenda during his presidency.

This move, just hours before the transfer of power, highlights the tension between Biden and Trump as the political landscape prepares for a new chapter. Biden’s actions signal a firm stance against what he perceives as politically motivated legal tactics and retribution, even as Trump begins his second term in office.

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