'We're
going to win!' Pompeo vows China trade war will last until Americans
get what they 'deserve'
©
Jason Lee / Reuters
RT,
23
September, 2018
As
the latest US and Chinese tit-for-tat tariffs are about to take
effect, Mike Pompeo has reassured Americans that any inconveniences
they might suffer in the trade war are temporary, before they emerge
victorious and prosperous.
After
a vast number of American businesses and multinationals expressed
concern about the damage from the new tariffs and potential further
escalation of the trade war, the chief US diplomat stressed that
Washington strives to protect US workers and force China to play by
its rules.
"We're
going to get an outcome which forces China to behave in a way that if
you want to be a power – a global power transparency, rule of law,
you don't steal intellectual property – the fundamental principles
of trade around the world: fairness, reciprocity," Pompeo told
Fox News on Sunday.
.@SecPompeo on trade with China: "To the extent one wants to call this a trade war, we are determined to win it." #FNS fxn.ws/2DpeWVu
"Those
are the things the American people are demanding and the American
workers deserve," he stressed, after the US
Trade Representative (USTR) finalized a new round of tariff hikes on
$200 billion in Chinese imports. Starting Monday night, a 10 percent
tax on Chinese goods will be slapped on as they enter the country,
before rising to 25 percent at the end of the year.
In
a retaliatory response to the latest round of US protectionist
measures, China said it would impose levies on $60 billion worth of
US goods, effective September 24. Beijing also warned that foreign
companies will bear the brunt of the trade conflict between the
world's two largest economies.
"According
to preliminary data, the [US] tariffs will affect consumer industry
goods, as well as textile, medical and electromechanical goods. Half
of the companies [affected by US tariffs] will be with foreign
capital," China's
Commerce Ministry spokesman Gao Feng noted Thursday,
stressing that Beijing is looking into ways to protect Chinese and
foreign companies during the crisis.
While
the US tariffs so far have spared popular consumer products like
phones and computers, other electronics, such as printed circuit
boards, power assemblies and computer chips, will be impacted.
Washington's move will also affect everyday consumer goods such as
air conditioners, shoes, fruit juice and kids’ goods, damaging US
multinationals doing business in China.
Walmart,
Sears, Petland, Dollar General and Target have already sent letters
to US lawmakers strongly opposing the tariffs, stressing that
import hikes will "penalize
American families." A
coalition of roughly 300 retailers, including IKEA North American
Services, Kohl's, the Gap and Macy's, have also noted that the
looming trade war will impact their business. Over 6,000 letters
against new tariffs were received by the US Trade Representative
Robert Lighthizer leading up to the new round of tit-for-tat actions.
Trump’s trade war ‘destroyed’ my promise to create jobs for 1mn Americans - Alibaba’s Ma on.rt.com/9emy
Despite
the fears being voiced, on Friday Donald Trump threatened to impose
even more levies on Chinese goods until the trade imbalance is fixed
and until Chinese corporations stop 'stealing' American technology
and intellectual property. Previously, the White House expressed its
readiness to slap additional tariffs on around $267 billion of
Chinese exports if Beijing doesn't back down.
#Trump threatened to impose even more tariffs on Chinese goods if Beijing dares to impose tit-for-tat measures on.rt.com/9eta
Amid
the escalating tensions, China has reportedly cancelled a mid-level
delegation visit to Washington next week, that was supposed to pave
the way for further trade negotiations with President Xi's envoy Liu
He. Despite the worsening trade relations, further exacerbated by
recent sanctions against China's leading arms acquisition body over
the purchase of Russian weapons, Pompeo believes that Washington will
win the trade war.
"The
trade war by China against the United States has been going on for
years," Pompeo said. "Here's what's different in this
administration. To the extent one wants to call this a trade war, we
are determined to win it."
US using false accusations on trade to 'intimidate' countries – China
Beijing
has hit back at the Trump administration after new US tax hikes took
effect, accusing it of “making false accusations” and of engaging
in economic intimidation of other countries.
China released a
fresh white paper on Monday. One of the document’s six parts
castigated US President Donald Trump for ‘trade bullying
practices,’ according to state-run Xinhua.
It
also said that Washington was exerting “extreme
pressure” on
Beijing to push forward its own interests, while pursuing“economic
hegemony.”
The US is “making false accusations against many countries and regions, particularly China, intimidating other countries through economic measures such as imposing tariffs.”
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