Trump’s Representative Vows Tough Action Against China’s Trade Policies
Girish Shetti | | Mar 15, 2017 09:27 AM EDT |
(Photo : Getty Images) Speaking at a Senate confirmation hearing on Tuesday, Lighthizer said that President Trump may use a "multi-faceted approach" to reprimand Beijing for its alleged trade practices.
President Donald Trump's pick as U.S. trade negotiator, Robert Lighthizer, has vowed to go tough on China's alleged unfair trade practices as calls to launch a trade war against the world's second largest economy intensifies within the Republican administration.
Speaking at a Senate confirmation hearing on Tuesday, Lighthizer said that President Trump might use a "multi-faceted approach" to reprimand Beijing for its alleged trade practices. "I believe [Mr. Trump] is going to change the paradigm on China and, if you look at our problems, China is right up there," he told U.S. senators.
Like Us on Facebook
Lighthizer stressed that there is a need to look beyond the World Trade Organization (WTO) WHICH he called on to "create some new tools" to deal with the China problem. He claimed that it is beyond the capacities of the WTO to cope with the aggressive industrial policies pursued by Beijing.
Asked if China is engaged in manipulating its currency, the trade representative claimed that as per his personal judgment, the Asian giant was a rampant currency manipulator in the past. "Whether China is manipulating the currency right now is another question. That's up to the Treasury secretary," he said.
Meanwhile, the Chinese leadership is apparently making efforts to convince the U.S. that a trade war is not in the interest of both economies. China's Premier Li Keqiang unequivocally said on Wednesday that his country does not want to see any trade war breaking out with the U.S. as he urged both countries to hold talks to find common ground.
Li's comment was preceded by a warning last week by China's Commerce Minister Zhong Shan that a trade war will prove painful for both economies. He warned that U.S. exporters would stand to lose more in the event of a trade war with Beijing.
Talks about a trade war with China have been gaining momentum since Trump won the U.S. presidential election last year. The outspoken Republican leader fired several salvos against China's controversial trade practices, labeling the second largest economy as a "currency manipulator" and questioned the Asian giant's "steel overproduction."
Tagsdonald trump, Robert Lighthizer, China Trade Policies, U.S. and China
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?