The Trump administration is setting the stage to unveil tough
new trade penalties against China early next year, moving closer to an oft - promised crackdown that some U.S. business executives fear will ignite a costly battle.
The survey was conducted after President Donald Trump signed a pair of proclamations that impose tariffs on imported steel and aluminum, but before the announcement on Thursday that the United States will seek
trade penalties of up to $ 60 billion against China for intellectual property theft.
Another issue might be trade, as China is no doubt alarmed that the House included
trade penalties in its bill for countries who do not pass greenhouse gas limits.
Ramesh also said India would not accept a provision in a U.S. Congress bill which would
impose trade penalties on countries who fail to cut greenhouse gas emissions.
Beyond that, he described China as a country upon which other nations had imposed
unfair trade penalties: «We hope developed countries will stop imposing restrictions on normal and reasonable trade of high - tech products and relax export controls on such trade with China,» he said, not naming any specific country.
But he has since held back on any
major trade penalties, making clear he was doing so to give Beijing time to make progress reining in North Korea.
The objectives also call for eliminating a NAFTA chapter that allows countries to
appeal trade penalties in an independent, international legal forum known as the investor - state dispute settlement.
Safeguard remedies also are not limited to products from just one country, an important factor in the washing machine dispute, which has seen South Korean makers move production among their home market, China, Thailand and Vietnam to escape earlier
U.S. trade penalties.
They want to
see trade penalties levied against nations that do not comply with any international agreement.
White House trade adviser Peter Navarro said U.S. investors should «relax» over fears that
new trade penalties will spark a skirmish that could hurt the world economy.
In a statement Friday from the IMF meetings, U.S. Treasury Secretary Steven Mnuchin urged the IMF to «step up to the plate» to call out countries engaged in unfair trade practices — a frequent refrain from the Trump administration is that
its trade penalty threats are not protectionist, but simply seeking «fair» exchange.
However, on Thursday, US Trade Representative Robert Lighthizer told a Senate committee that the EU, Argentina, Brazil, South Korea and Australia will not be subject to
the trade penalties once they take effect Friday.
But his comments were the clearest yet on which countries might avoid
the trade penalties.
Anne's references also show other tax based incentives against use of energy in Europe, in addition to the cap and
trade penalties that are more focused on CO2 issues.