Jumat, 10 Mei 2019

Trump heats up yet another global crisis by escalating China trade war - CNN

The sharp escalation could rattle investors and is the latest manifestation of the building superpower conflict across the Pacific. It will stoke new concern about the President's unapologetically unpredictable statesmanship.
Trump's new tariff threat could make iPhones, toys and shoes more expensive
The confrontation comes at a time when anxiety is already growing over Trump's stewardship of several other foreign policy crises, including with Iran, North Korea and Venezuela.
The US imposed new tariffs on a further $200 billion in Chinese goods following a midnight deadline and after the President accused Beijing of backtracking on a deal between the world's two largest economies.
It's possible that the gambit could work as negotiators from the two sides are meeting again in Washington on Friday. But the fear will be that the US and China are now heading for a prolonged showdown that could hurt the world economy.
Trump said on Friday that there was no rush to reach a deal since tariffs of up to 25% were now "being paid" on some of China's exports to the US.
"Tariffs will bring in FAR MORE wealth to our country than even a phenomenal deal of the traditional kind," Trump tweeted.
It is true that raised duties could dampen demand for Chinese goods, but it is American shoppers who end up paying the costs of higher tariffs.
Trump's tactic reflects his belief that the strong US economy gives him leeway to inflict pain on China's products, workers and consumers and will force its leaders to back down and make fresh concessions.
It's a classic move from a former real estate tycoon who preaches the art of the deal, often raises the stakes at the last minute and says he is always ready to walk away from the table.
But the new tariff hike is sure to draw reprisals from China, barring an overtime deal on Friday, that could rebound against the President and US consumers -- especially in the agricultural and industrial heartlands of the Midwest.
The China showdown has been building for months, like the other current foreign policy dramas, does not come as a sudden surprise.
Trump has been complaining about China's economic practices and the Sino-US trade deficit for decades -- since long before he became a politician, and it's possible to draw a line between his latest move and the 2016 campaign when he accused Beijing of "raping" US workers.
Presidents reap what they sow in foreign policy, even if it takes time for initial decisions made early in their terms to reshape the world.
But the bill may be becoming due for Trump's unorthodox style.
The President often treats foreign policy as an extension of his wild, unpredictable character that abhors restraints, has little appreciation for history and lives in the moment. He says he's the master deal maker, but he's more of a destroyer than a builder on the world stage.
He loves splashy headlines, defying the wisdom of diplomatic sages, the spotlight of one-on-one summits, jabbing allies and using tyrants as pen pals.
He enjoys wielding a big stick but doesn't want to get into foreign quagmires. He disdains long-thought-out strategies, hates global organizations and doesn't sweat details.
The current dramas have all been exacerbated by the President's shoot-from-the-lip interventions and his tendency to reject traditional diplomatic practice.
He has, for example, never ruled out military action in Venezuela -- as unlikely as that seems -- after a US-backed effort to overthrow the government of Nicolas Maduro fizzled in recent weeks and left White House policy in disarray.
While accusing Xi Jinping's government of moving the goalposts in trade talks, he praised the Chinese leader for sending him a "beautiful letter," easing investor fears after markets dipped into a two-day Trump-initiated nosedive.
Trump has also sent contradictory signals to Iran and North Korea, leaving US strategy opaque, contributing to uncertainty -- never a desirable state of affairs in geopolitics.
Foreign diplomats say Trump's impulsive style makes it almost impossible to predict American policy -- a factor that is adding to global instability.
Often, Trump seems to be placating a slice of his domestic base rather than playing diplomatic chess.
His policy on China emerged from a hardcore campaign message about Beijing's trade policies.
His synthesis of Israel policy with Prime Minister Benjamin Netanyahu's right-wing coalition is often seen as a play for US evangelical voters.
His denunciations of Maduro's socialism mirror his 2020 campaign attacks on progressive Democrats.
In many cases Trump's policies are contradictory: He is trying to kill a nuclear deal with Iran while attempting to reach another with North Korea.
And there are increasing indications that US strategies, especially toward Iran and Venezuela, are being directed by national security adviser John Bolton, who has a long history of support for militaristic and regime change solutions.
Trump, who hates it when his subordinates steal his thunder, shot down that idea on Thursday.
"He has strong views on things, but that's OK. I actually temper John, which is pretty amazing isn't it?" the President said.

A slide to war with Iran?

The US withdrawal from the Obama administration's international Iran nuclear deal fit all the requirements of Trump foreign policy.
It let him take a swipe at his predecessor. It was hugely popular in the GOP. And it created a headline and angered US allies, encapsulating Trump's "America First" philosophy.
But the consequences of the decision are becoming clear in a sudden escalation of tensions that has raised fears that the US and the Islamic Republic are locked into a slide to war.
Trump's maximum-pressure strategy of punishing economic sanctions and directly targeting Iran's clerical rulers is regime change in all but name.
Iran is now threatening to withdraw from aspects of the nuclear deal, possibly to pressure European nations who are still signed up, to force them to do more to mitigate the pain of US sanctions -- including an effort to eradicate Iran's oil exports.
As part of a policy that is seen as the brainchild of Bolton -- an Iran hawk -- the administration sent an aircraft carrier strike force, along with some heavy bombers, to the region this week.
Secretary of State Mike Pompeo ditched talks with German Chancellor Angela Merkel to dash to Baghdad for meetings with Iraqi officials, citing yet-to-be-released intelligence that had raised concerns Tehran could target US troops or facilities.
Pompeo cranked up the pressure yet again on Thursday.
"We do not seek war. But Iran's forty years of killing American soldiers, attacking American facilities and taking American hostages is a constant reminder that we must defend ourselves," Pompeo said in a statement.
The sudden activity and administration messaging about what it calls "Iran's expansionist policy" have led some observers to compare the strategy to the Bush administration's march to war with Iraq.
Brian Hook, the US special representative for Iran, told CNN's Wolf Blitzer that Trump wanted to force Tehran to change its behavior.
"We need to restore deterrence against Iran's regional aggressions," he said.
But as the last two decades have shown, Washington's sense of its own power to shape events in the Middle East is often disastrously exaggerated. And its perceptions of how adversaries interpret its pressure are often wrong. It's not clear that Trump's team has learned that lesson yet.
Obama's Iran deal halted Tehran's uranium-enriching centrifuges, freezing the breakout time to a nuclear weapon and postponing a US decision on military action that could destabilize an already shattered region and shock the world economy.
All that now seems back on the table.
"I think there are increasing risks of collision between us and the Iranians," William Burns, a retired US senior diplomat, told CNN's Kate Bolduan on Thursday.
"The Trump administration is making a very risky bet. That is that you make coercive diplomacy work when it is all about coercion and not very much at all about diplomacy."
"You are relying on maximum pressure but not connecting it, as far as I can see, to either realistic aims or any channels of diplomatic communication," he said.
Trump offered a hint Thursday that his hard line was designed to force Iran to negotiate a better deal -- encompassing its missile program and what the US says is malign regional activity.
"They should call, and if they do, we're open to talk to them," Trump said. But since the US strategy appears to hinge on Iranian capitulation, it is unclear why Tehran would pick up the phone.
Which is why many experts fear what will happen next.

Not yet taking Kim's bait

Kim Jong Un is getting antsy.
A rising drumbeat of short-range missile tests and the suspension of cooperation with US efforts to find the remains of soldiers killed in North Korea nearly 70 years ago are beginning to erode the meager payoff Trump forged with his stunning engagement of one of the world's most brutal tyrants.
Kim's impatience looks like a classic North Korean tantrum following the failure of his second summit with Trump in Vietnam earlier this year.
Trump's rationale is that after decades of failed US diplomacy, his personal connection with Kim can prompt a historic breakthrough.
Yet after offering Kim the concession of two face-to-face meetings, there has been no progress toward denuclearizing the Korean Peninsula.
The impasse is putting Trump's strategy, which went from warning of "fire and fury" to declaring that he and Kim fell in love, under intense scrutiny.
But Trump is also not taking Kim's latest bait -- a sign that his gullibility revealed in their first summit in Singapore last year might be less of a factor.
"What appears to be happening is North Korea is testing the United States, trying to push them towards some sort of negotiation, reopening the talks," Amy Pope, a former senior Obama administration official, said Thursday on CNN.
"The President is right not to kowtow to that and to accept that as an appropriate way of negotiating, but at the same time there is a more serious question that undergirds all of this.
"What is the President's strategy on North Korea? What is the diplomatic negotiating going into it behind the scenes?"
Trump is seeking to keep his channel to Kim open, but the fear is that the North Korean leader will further escalate tensions if he does not get the economic concessions he seeks.
If he goes back to long-range missile tests or nuclear detonations, the prospect of a horrific war on the peninsula could quickly return.
"Nobody's happy about it, but we are taking a good look and we'll see," Trump said when asked about missile tests overseen by Kim this week.
As for the future: "We will see what happens."

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https://www.cnn.com/2019/05/10/politics/donald-trump-china-north-korea-venezuela-iran/index.html

2019-05-10 11:14:00Z
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Here's why global stocks aren't sinking despite the US tariff hike - CNBC

A global stock market sell-off started to ease on Friday despite the U.S. fulfilling a promise to ramp up tariffs on Chinese goods.

The U.S. hiked tariffs from 10% to 25% on $200 billion worth of Chinese goods at 12:01 a.m. ET Friday. In response, Beijing said it "deeply regrets" the tariff hike and would take countermeasures — though no specifics were provided.

Markets across the globe initially fell overnight but were quick to bounce back and trade higher. In Asia, mainland Chinese stocks jumped with the Shanghai composite rising more than 3%. In Europe, the pan-European Stoxx 600 traded nearly 1% higher in early deals with the German DAX up by the same amount. Stateside, Dow futures initially slipped and pointed to nearly triple-digit losses at the open, but soon recovered.

Uncertainty over trade talks will linger, but some analysts believe investors are still optimistic that the world's two-largest economies will avoid a full-blown trade war.

"Investors seemingly continue to try to cling to hope that policymakers on both sides opt to deescalate," Deutsche Bank's research strategist Jim Reid said in a note Friday.

Reid noted that President Donald Trump told reporters Thursday that a "deal is still possible," and that he had received a "beautiful letter" from Chinese President Xi Jinping.

Global stock markets have seen heavy selling this week as the tension between Washington and Beijing escalated. The Dow Jones Industrial Average has fallen more than 650 points this week, while the S&P 500 has lost about 2.5%. Global equities have seen outflows of $20.5 billion in the past week, according to new research by Bank of America Merrill Lynch said on Friday.

The recovery could also be due to markets already pricing in the tariff hike. The announcement on the increase initially came from Trump on Sunday, giving investors plenty of time to position assets in their portfolios. In addition to that, a number of analysts have also pointed out that the increase in tariffs from 10% to 25% will only really take effect in a few weeks and hence markets are anticipating a deal will come before that.

Goldman Sachs told clients in a note that there is still some wiggle room in the negotiations, which are still set to continue on Friday.

"We note that details in the notice implementing the tariff hike indicate that exports that have already left Chinese ports before May 10 will not be subject to the increase," said Goldman economist Jan Hatzius.

"This creates an unofficial window, potentially lasting a couple of weeks, in which negotiations can continue and generates a 'soft' deadline to reach a deal ... This also leaves an opportunity for the two sides to reach an agreement in the next couple of weeks, though challenges remain," he added.

Russ Mould, an investment director at London-based stockbroker AJ Bell, said the market moves could be down to investors now having real facts with the formal tariff hike, which would dispel any speculation earlier in the week.

He also explained that a China retaliation will hurt U.S. businesses and consumers and have a negative impact on the economy. He added that the finger of blame would then point to Trump for being "too aggressive," noting that he cannot afford to let this happen ahead of elections next year.

"Investors could be betting that China's retaliation could force Trump to back down and come to an amicable conclusion," Mould said in his note.

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https://www.cnbc.com/2019/05/10/stock-markets-why-equities-arent-sinking-despite-the-us-tariff-hike.html

2019-05-10 09:10:25Z
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U.S.-China Trade War Worsens, but Investors Bet on a Deal - The New York Times

Trade war? No problem.

Global markets largely rose on Friday just hours after President Trump escalated his trade war with China. The stock market in China, which sometimes gets a lift from state-run companies looking to buoy the market, led the global rise.

Futures that allow investors to bet on the performance of stocks in the United States indicated many believed Wall Street would open higher on Friday morning.

Early Friday, Mr. Trump raised tariffs to 25 percent from 10 percent on Chinese imports that are worth about $200 billion a year. He said the increase came in response to Chinese officials attempting to “renegotiate” a pact aimed at calling a trade war truce. China said it would respond with unspecified countermeasures.

Still, many investors believe the two sides can reach a deal, especially since the Trump administration effectively delayed the full brunt of the tariff increase. The Trump administration specified that it will collect the tariffs only on goods that leave China starting on Friday. That means they would not hit Chinese goods already on ships destined for the United States, though they would more immediately impact goods that are flown in.

“Our base case remains that the U.S. and China will eventually reach some kind of accord,” Mark Haefele, global chief investment officer for the Swiss bank UBS, said in a research note. “Both the U.S. and China have strong incentives to reach a deal and we do not expect a complete breakdown in negotiations.”

In China, the Shanghai Composite Index rose 3.1 percent, while the Shenzhen Composite Index rose 3.8 percent.

The Hang Seng Index in Hong Kong rose 0.8 percent.

In Japan, the Nikkei 225 index fell 0.3 percent after disappointing wage data there.

South Korea’s Kospi index rose 0.3 percent.

European markets opened modestly higher. In Germany, the DAX index was up 1 percent.

The CAC 40 index in Paris opened 0.9 percent higher.

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https://www.nytimes.com/2019/05/10/business/global-markets.html

2019-05-10 08:32:03Z
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Trump just raised tariffs on Chinese goods. China says it will hit back - CNN

The Trump administration raised tariffs on $200 billion worth of Chinese imports from 10% to 25% at 12:01 a.m. ET on Friday, according to China's Ministry of Commerce.
Beijing responded just minutes after the tariffs went into effect.
"China expresses deep regret over the development and will have to take necessary countermeasures," the Ministry of Commerce said in a statement Friday afternoon. "We hope the United States will meet us halfway, and work with us to resolve existing issues through cooperation and consultation."
Reactions in Asia markets were mixed.
Having started the day in positive territory, Japan's Nikkei Index fell nearly 1% in afternoon trading. The Shanghai Composite Index rose more than 2% and Hong Kong's Hang Seng Index was up around 1%.
Trump's new tariff threat could make iPhones, toys and shoes more expensive
A Chinese delegation led by Beijing's top trade negotiator Vice Premier Liu He arrived in Washington on Thursday for the latest round of trade talks.
Under the current circumstances, Liu said he "hopes to engage in rational and candid exchanges with the US side," Chinese state media outlet Xinhua reported.
Liu added that China believes raising tariffs is not a solution to the problems and is harmful to China, to the United States and to the whole world.
Trump's surprise move to increase tariffs startled US businesses. Importers received just five days' notice about the sudden rise in penalties.
"The tariff increase inflicts significant harm on US industry, farmers and consumers," said Jacob Parker, vice president of the US-China Business Council, a trade group that represents American companies' interests in China.
"It will decrease the competitiveness of American companies, reduce the efficiency of their global supply chains, and reverberate through the US economy. Pure and simple, this is a tax on the American consumer," he added.
The American Apparel and Footwear Association estimated that a 25% tariff on apparel imports would increase costs for a family of four by $500 a year.
The higher tariffs will be applied to relevant US-bound goods exported from China on or after Friday, according to a notice from the US Federal Register.
Talks between the two sides will resume in Washington on Friday, hours after the tariffs took effect.

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https://www.cnn.com/2019/05/10/business/china-us-tariffs-trade/index.html

2019-05-10 08:11:00Z
52780289498324

Kamis, 09 Mei 2019

Venezuela's opposition vow to defy Maduro after key figure detained - The Guardian

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  1. Venezuela's opposition vow to defy Maduro after key figure detained  The Guardian
  2. After failed military uprising, No. 2 leader of Venezuelan congress is towed to jail in car  Fox News
  3. A frustrated Trump questions his administration’s Venezuela strategy  The Washington Post
  4. As partisans bicker in the US, Venezuelans continue to suffer | TheHill  The Hill
  5. Rebuilding Venezuela after Maduro will require the US to front some money | TheHill  The Hill
  6. View full coverage on Google News

https://www.theguardian.com/world/2019/may/09/venezuela-maduro-guaido-crackdown-edgar-zambrano

2019-05-09 13:45:00Z
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BBC radio host fired over racist royal baby tweet - CNN

On Wednesday, the BBC Radio 5 Live presenter tweeted a black and white photo of a man and woman holding hands with a chimpanzee in a suit and a top hat, with the caption, "Royal baby leaves hospital."
Amid widespread accusations of racism, Baker deleted the tweet and said he was sorry the "gag" had "whipped some up." He claimed the connotations had not occurred to him because his "mind (is) not diseased."
In a second message, Baker said that the tweet was "supposed to be a joke about Royals vs circus animals in posh clothes but interpreted as about monkeys & race, so rightly deleted. Royal watching not my forte." On Thursday, the broadcaster said he made an "enormous mistake."
A BBC spokesperson said: "This was a serious error of judgment and goes against the values we as a station aim to embody. Danny's a brilliant broadcaster but will no longer be presenting a weekly show with us."
Baker responded defiantly to the decision, saying on Twitter that the calls for his dismissal were a "masterclass in pompous faux-gravity" and that the BBC "literally threw me under the bus."
Prince Harry and Meghan's newborn son, Archie Harrison Mountbatten-Windsor, was born early on Monday morning. On Wednesday, the Duke and Duchess of Sussex presented the baby, their first, to the world in front of selected media.
In a significant milestone for British society, the newborn has made history by becoming the first biracial child in the royal family.
Analysis: Don't use the royal birth to trot out a dangerous myth
Since the announcement of her pregnancy, Meghan has been a target of racist abuse across social media.
In March, Kensington Palace staff announced they would devote more resources to deleting comments targeting the Duchess of Sussex, and to blocking abusive Twitter and Instagram accounts. The royal household also issued a set of guidelines for people engaging with its social media channels.

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https://www.cnn.com/2019/05/09/uk/danny-baker-tweet-royal-baby-gbr-scli-intl/index.html

2019-05-09 14:20:00Z
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North Korea fires 2 short-range missiles, 5 days after previous launch; US tests long-range missile within ... - Fox News

North Korea fired two short-range missiles on Thursday, according to South Korean military, as the U.S. responded with an intercontinental ballistic missile test of their own just 10 minutes later.

The launch, the second such move in less than a week, occurred around 4:30 p.m. local time from the North’s Sino-ri missile base, the South’s joint chiefs of staff said in a statement. The base is located around 130 miles north of the border with South Korea. The missiles flew 260 and 170 miles respectively, according to South Korean military officials. The U.S. insisted the timing of their own test was entirely coincidental.

The base is believed to operate Rodong short- and medium-range ballistic missiles, according to the New York Times.

North Korean leader Kim Jong Un.

North Korean leader Kim Jong Un. (Korean Central News Agency/Korea News Service via AP)

“The Sino-ri missile operating base and the Rodong missiles deployed at this location fit into North Korea’s presumed nuclear military strategy by providing an operational-level nuclear or conventional first-strike capability against targets located both throughout the Korean Peninsula and in most of Japan,” the Times quoted from a study published by analysts for the Center for Strategic and International Studies.

POMPEO DISMISSES NORTH KOREA'S REJECTION OF HIM AS US NEGOTIATOR

South Korea's presidential national security director, Chung Eui-yong, has been monitoring the situation and was communicating with defense officials and the JCS by video.

This Saturday, May 4, 2019, file photo provided by the North Korean government shows a test of weapon systems, in North Korea. (Korean Central News Agency/Korea News Service via AP, File)

This Saturday, May 4, 2019, file photo provided by the North Korean government shows a test of weapon systems, in North Korea. (Korean Central News Agency/Korea News Service via AP, File)

The firing comes five days after the North launched a barrage of short-range projectiles from its east coast. Through its state media, the North described the earlier firing as a “defense units” test of its rocket launchers and tactical guided weapons.

Thursday's firing comes as Trump's negotiator for North Korea, Stephen Biegun, visits Japan and South Korea to discuss North Korean denuclearization efforts.

US ENVOY: NORTH KOREA DENUCLEARIZATION MUST NOT BE INCREMENTAL

The U.S. Air Force, meanwhile, tested a long-range missile from Vandenberg Air Force Base in California within 10 minutes of the reported launch by Pyongyang. The American intercontinental ballistic missile flew 4,200 miles into Pacific from a base in California, according to the Air Force. The launch of the Minuteman III intercontinental missile was the second missile launch this month and the fourth this year.

Linda Frost, Deputy, Media Operations of the Air Force Global Strike Command, told Fox News that the timing of both the U.S. and North Korean tests were not related.

“It’s important to note that our test launch is not a response or reaction to world events. The launch calendars are built three to five years in advance, and planning for each individual launch begins six months to a year prior to the launch,” she said.

North Korea last conducted a major missile test in November 2017 when it launched an intercontinental ballistic missile that could demonstrate the potential capability to reach the U.S. mainland. Analysts have said if the North decides to resume testing banned ballistic weapons, it could signal the rogue nation is turning away from diplomacy.

Tensions between the North and the U.S. were somewhat soothed when North Korean leader Kim Jong Un and President Trump met for two summits. The second meeting in February ended abruptly when both sides disagreed over sanctions relief for the North. The U.S. did not believe the North was offering enough disarmament measures in order to grant widespread sanctions relief it sought.

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After Saturday's launches, Trump tweeted that Kim “knows that I am with him & does not want to break his promise to me. Deal will happen!”

Kim said he is open to a third meeting with Trump but set this year’s end as a deadline for Washington to offer mutually acceptable terms for an agreement.

Fox News' Lucas Tomlinson contributed to this report.

The Associated Press contributed to this report. 

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https://www.foxnews.com/world/north-korea-launches-unidentified-projectile-in-second-firing-in-less-than-a-week

2019-05-09 13:14:45Z
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