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|    alt.politics.economics    |    "Its the economy, stupid"    |    345,374 messages    |
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|    Message 345,206 of 345,374    |
|    useapen to All    |
|    The Great WTO Scam: How China Rigged Glo    |
|    07 Jul 25 08:43:06    |
      XPost: alt.business.import-export, alt.politics.trump, alt.fan.rush-limbaugh       XPost: sac.politics, talk.politics.guns       From: yourdime@outlook.com              Much of the media focus on the Trump administration’s reciprocal tariff       policy has been on the progress of tariff negotiations with each US trade       partner. With respect to communist China, media headlines in recent weeks       have concentrated on the tit-for-tat of tariffs proposed by the US and       “countered” by China that eventually led to a temporary tariff de-       escalation agreement reached between the two countries in Geneva on 14       May.              That deal sets the table for comprehensive US-China trade negotiations       that will include non-tariff-related issues that have long been barriers       to US companies and products in China – a relatively unreported on but key       objective of President Trump’s trade strategy.              US-CHINA TARIFFS AND COUNTER-TARIFFS              Re-balancing trade with China has taken center stage in the second Trump       administration since the signing of Executive Order 14195, which declared       a national emergency regarding fentanyl and other drug trafficking from       China that was accompanied by an additional 10% tariff imposed on all       Chinese imports.              China’s response was setting 15% tariffs on US coal and liquefied natural       gas, 10% tariffs on US oil and agricultural machinery, and implementing       non-tariff measures that included launching an antitrust investigation       into Google and adding some US companies to its “Unreliable Entity List.”       Companies on that list face penalties and barriers to the Chinese domestic       market, including trade and investment restrictions, entry bans, permit       revocations, and fines.              On 4 March, the US raised tariffs on all Chinese products to 20%. China       retaliated on 10 March, with 10-15% tariffs on select US agricultural,       meat, and dairy products, a suspension of US lumber imports, and a       revocation of soybean import licenses for three US firms.              On 2 April, President Trump signed Executive Order 14257 which established       a 34% “reciprocal tariff” on all Chinese imports, bringing the effective       US tariff rate on Chinese goods to 145%. China retaliated with a 34%       tariff on all US goods plus non-tariff measures such as implementing       export restrictions on Chinese-controlled rare earth elements vital for       strategic manufacturing processes and adding more US companies to the       Unreliable Entity List.              On 8 April, in response to this Chinese retaliation, President Trump       signed Executive Order 14259 which increased tariffs on Chinese imports       from 34% to 84% (effective April 9, 2025), in response to China’s       retaliatory measures. On April 9, 2025, he signed Executive Order 14266       that established an effective total US tariff rate of 145% on Chinese       goods. China immediately retaliated by raising tariffs on all US exports       to total tariff rate of 147.6% while adding more US companies to its       Unreliable Entity List.              On 14 May, US and Chinese negotiators agreed to a temporary 90-day tariff       reduction. The US reduced its tariffs on Chinese goods from 145% to 30%       while China reduced its tariffs on US goods from 147.6% to 10%. China also       agreed to suspend its various retaliatory non-tariff measures while formal       negotiations on a comprehensive trade deal are completed.              CHINESE NON-TARIFF TRADE BARRIERS              Chinese retaliation to new US tariffs has included a few non-tariff       actions, as identified above. However, the list of non-tariff-related       barriers to US (and other countries) implemented arbitrarily by China’s       Ministry of Commerce (MOFCOM) is extensive, complex, and fraught with       peril for companies interested in doing business in China. It is ironic       that, despite regular pronouncements from Chinese leader Xi Jinping about       steps being taking to “open China,” the policies and regulations       implemented over the past 40+ years by MOFCOM have done the exact       opposite.              Here are some of the more onerous non-tariff measures and practices       throttling US and other foreign companies in China that President Trump’s       reciprocal tariff policy is attempting to address.              State-sponsored mercantilist practices. The Chinese regime has implemented       efforts that violate World Trade Organization rules agreed to when China       joined the WTO in 2001. China heavily subsidizes its state-owned       enterprises (SOEs) in violation of the WTO’s Agreement on Subsidies and       Countervailing Measures. A 2023 report from the US Congress noted that       China “uses an intricate web of industrial policies, including subsidies,       forced technology transfer, and market access restrictions, to distort       market behavior, achieve dominance in global markets, and increase US       dependency on PRC imports.” Subsidies allow Chinese companies to undercut       production costs of foreign companies and gain market share domination in       various commercial sectors by “dumping” cheap Chinese goods in countries       around the world. A companion practice is China currency manipulation       which undervalues the yuan to makes its exports cheaper.              Market access restrictions. In addition to the arbitrarily maintained       Unreliable Entity List noted above, China restricts access to its domestic       market through various policies, rules, and blacklists. For example, China       has not joined the WTO’s Government Procurement Agreement (GPA), despite       promises made in its Accession Protocol to do so. This limits foreign       companies’ access to China’s public procurement market. China routinely       blocks agricultural imports – typically without any scientific basis other       than claims of pest contamination – as punitive measures that provide       leverage points in diplomatic negotiations. These blacklists are also       intended to favor Chinese producers at the expense of foreign entities. On       the flip side, China has restricted access to critical raw materials such       as rare earth elements in direct violation of WTO precursor GATT Article       XI, General Elimination of Quantitative Restrictions, which prohibits non-       tariff restrictions on imports and exports among WTO countries.              Read more              https://stuinsd.substack.com/p/behind-the-us-china-tariff-negotiations              https://floppingaces.net/most-wanted/the-great-wto-scam-how-china-rigged-       global-trade-and-trump-finally-called-their-bluff/              --- SoupGate-DOS v1.05        * Origin: you cannot sedate... all the things you hate (1:229/2)    |
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