Vice president accuses China of interfering in US elections

Vice president accuses China of interfering in US elections

Vice president accuses China of interfering in US elections

Certain agriculture groups have been pushing the administration to once again exempt Canada and Mexico from the USA steel tariffs.

Trump then noted that China is again buying US soybeans, through the back door.

Pence launched his full-throated attack in a speech to the Hudson Institute, accusing China of everything from predatory economic practices to military aggression to advance Chinese interests at the expense of the current world order.

"We're pleased that the text of USMCA preserved commitments of zero tariffs between the U.S. and Mexico on dairy trade", said Shawna Morris, vice president of trade policy for the U.S. Dairy Export Council. "Tariffs threaten corporate earnings through higher costs and lower margins", Goldman's chief USA equity strategist David Kostin said in a recent report.

China has no doubt it is the target of the clause, which requires an USMCA member country to provide notice and information to the other two partners if it plans free trade talks with a "non-market" economy.

"As the boost from tax reform fades, firms with the ability to maintain or expand profit margins will become increasingly scarce and will likely be rewarded by investors", he said, according to CNBC. Freeland told reporters in Ottawa Monday that countries are already able to quit the new Nafta, regardless of the China clause. The president said China was trying to undermine him because of his aggressive stance on trade, including his decision to slap tariffs on $250 billion worth of Chinese goods shipped into the U.S. "Now China wants to turn these voters against our administration". Pence said the campaign extends to next month's midterm elections and the 2020 presidential vote. The US does not seem to be in a hurry to have a trade deal with China, he indicated, adding that the European Union was eager to enter into a trade deal with the US.

A senior official in the Trump administration official told reporters that Pence's speech reflects a U.S. decision to take a more assertive approach in dealing with China that is more "constructive and results oriented".

Experts say China is more known for conducting economic espionage.

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In his remarks, Pence will quote an assessment from the USA intelligence community that "China is targeting US, state and local governments and officials to exploit any divisions between federal and local levels on policy".

The Trump administration also asserted Thursday that Chinese "economic aggression" has helped undermine the global competitiveness of defense-oriented US industries.

"Even if you accept all of Pence's complaints at face value, it's hard to make the case that the administration's Cold War-style vilification of China will be effective or beneficial to USA interests, since it's clearly pushing Beijing to intransigence, not compromise". It said these include specialized alloys and rare earth metals.

Assuming both the USA and China place tariffs of 25% on all imports, the hit to earnings of companies included on the MSCI China Index would be 2.6 percentage points, with growth slowing to 12.3% from 15%.

Flags of U.S. and China are placed for a meeting at the Ministry of Agriculture in Beijing, China, June 30, 2017.

He said that in June, Beijing laid out its strategy in a sensitive "Propaganda and Censorship Notice" which stated that China must "strike accurately and carefully, splitting apart different domestic groups" in the United States.

Pence will also protest Beijing's construction of military fortresses in the South China Sea as well as Chinese efforts to intercept American ships carrying out naval exercises created to contest China's territorial expansion.

In his speech Thursday, Pence also accused China's Communist Party of using rewards and coercion to influence American businesses, universities, and think tanks, and government officials. Along with the trade flap, administration officials also are frustrated by what they contend are too-aggressive Chinese military actions in the region. Pence said in one recent example, China threatened to deny a business license for a major USA corporation "if it refused to speak out against our administration's policies".

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