Trump pick for China ambassador aims to boost trade ties: Chinese state media


President-elect Donald Trump greets Iowa Governor Terry Branstad during the rally in Des Moines. Branstad is to become the United States’ next ambassador to China. Photo: Associated Press

President-elect Donald Trump greets Iowa Governor Terry Branstad during the rally in Des Moines. Branstad is to become the United States’ next ambassador to China. Photo: Associated Press

U.S. President Donald Trump’s pick for ambassador to China, Terry Branstad, said he would help increase trade between the two countries, Chinese state media reported, amid concerns over protectionist talk from the new U.S. administration.

Trump has railed against China’s trade practices, blaming them for U.S. job losses, and has threatened to impose punitive tariffs on Chinese imports.

Beijing says it will work with Washington to resolve any trade disputes, but state media has warned of retaliation if Trump takes the first steps toward a trade war.

Branstad, currently the governor of Iowa, said he would help to work out differences and that there was immense potential for more Chinese investment in the United States.

“We want to continue to enhance the relationship and to increase trade between our two countries,” Branstad told China’s official Xinhua news agency in an interview in the United States published late on Thursday.

“I hope … that I can play a constructive role trying to work out many of these differences in a way that makes it a win-win. It is beneficial to both of our countries, and also benefits the rest of the world,” Xinhua cited Branstad as saying.

“I think we have seen just the tip of the iceberg of the potential (Chinese) investments here,” he said.

Trump’s nomination of Branstad, a longtime Republican governor who has developed relationships with Chinese President Xi Jinping and other Chinese leaders, was well-received, even among some Democrats.

He still faces a confirmation hearing.

Trump has moved to fill his administration with critics of China’s trade policies, including Wilbur Ross for Commerce Secretary, Robert Lighthizer for U.S. Trade Representative, and Peter Navarro, an economist and China hawk who will serve as a White House adviser.

Free trade advocates worry the Trump trade team will be too quick to use tariffs to keep imports out, raising costs for manufacturers that rely on imported parts – or even sparking retaliatory trade wars.

Xi made a vigorous defense of globalization at the World Economic Forum last month, and presented China’s economy as a “wide open”, despite complaints from the foreign business community that Beijing has not made good on pledges of economic liberalization.

(Reporting by Michael Martina; Editing by Nick Macfie)

Source: Reuters “Trump pick for China ambassador aims to boost trade ties: Chinese state media”

Note: This is Reuters report I post here for readers’ information. It does not mean that I agree or disagree with the report’ views.

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3 Comments on “Trump pick for China ambassador aims to boost trade ties: Chinese state media”

  1. Steve says:

    The main problem for the Trump team are rising prices and cost due to higher tariffs. China has no problem of outsourcing components and goods to other countries like Cambodia, Laos by setting up manufacturing base in those countries. On the contrary, Trump wants to bring jobs back to US ending trade with Mexico. Instead China is now setting up it’s own automobile assembly line in Mexico. China is win win, US is lose lose

    According to some experts, jobs actually increased in US due to NAFTA. Will Trump increase import tariffs in low manufacturing countries like Cambodia and Laos or Bangladesh and Sri Lanka.? The problem for US now is that Trump refuse US companies outsource to cheaper locations to cut cost. How can prices and cost not rise in US.

    Like

    • Tyler reber says:

      Seems like an odd situation. Will the American people have to pay more for goods while wages are still stagnant? The purchasing power of the people is already struggling to get them by.

      If currency devaluation occurs, would it not act the same as inflation? That wouldnt be good for the common American. Most likely weakening the purchasing power of the public further, Yet making our goods more competitive over seas.

      I’m not a financial professional of any kind, but any way I look at it, I don’t see the people being able to save easier than now.

      Like

      • Steve says:

        Yes – the minimum wage in US, say New York, cannot satisfy the cost of living expenses. If cost of living surges, wages have to rise. However, devaluation of currency will affect inflation because US is not in a recession. The US will not devalue it’s currency, import cost will surge plus tariffs will affect prices of consumer goods, hence increase cost of living. Exports will be cheaper for high technology exports. The problem for US is keeping jobs back home. The US have to compete with countries like Germany, France, UK, Japan, Canada, Sth Korea, for the China market. The US cannot afford to have a trade war especially with China. I believe the US will lose big time. In a worst scenario, China stop exporting rare earth and USA will be a stuffed Turkey on high tech equipment such as jet engines, rocket, military hardware to computers, industrial, etc, etc.

        Like


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