Monday November 19, 2018
Home Lead Story Trump Not Bac...

Trump Not Backing Down on Steel, Aluminum Tariffs

Canada is the largest U.S. trading partner and last year shipped $7.2 billion worth of aluminum and $4.3 billion of steel to the United States

0
//
US President Donald Trump
US President Donald Trump. wikimedia commns
Republish
Reprint
  • Trump adamant about his tariff plans
  • His decision is facing great criticism
  • It can lead to heavy losses

U.S. President Donald Trump said Monday the United States is not backing down on its decision to impose 25 percent tariffs on steel imports and 10 percent tariffs on imported aluminum products, despite growing pressure from political and diplomatic allies and U.S. companies to pull back from a policy that could spark a trade war.

President Donald Trump not backing down on his tariff plans. Wikimedia Commons
President Donald Trump not backing down on his tariff plans. Wikimedia Commons

Before a White House meeting with Israeli Prime Minister Benjamin Netanyahu, Trump suggested Mexico and Canada could be exempted from the planned tariffs if a new and “fair” North American Free Trade Agreement (NAFTA) is reached.

“For many years, NAFTA has been a disaster,” Trump said. “We are renegotiating NAFTA as I said I would, and if we don’t make a deal I will terminate NAFTA. But if I do make a deal which is fair to the workers and to the American people, that would be, I would imagine, one of the points that we’ll negotiate. It will be tariffs on steel for Canada and for Mexico.”

The three countries are currently working to revise NAFTA, with the latest round of talks wrapping up in Mexico City.

Also Read: Trump meets Florida school shooting survivors, suggests arming teachers

Economist Gary Hufbauer of the Washington-based Peterson Institute for International Economics told VOA that people in Canada and Mexico see the Trump approach as bullying, and that their officials are less likely to make concessions that look like giving in to a bully. He also said those asking Trump to back off the tariff plan are right to fear a trade war.

“Whether we get to a trade war will depend very much on the reacting of other countries,” Hufbauer said. “The tariffs alone aren’t a trade war, but if other countries react by putting fairly strong restrictions on U.S. exports you can say we’re edging into a trade battle and it may escalate to a trade war.”

Trump’s decision to impose steep tariffs on steel and aluminum imports has drawn strong condemnation from some in his own Republican party and from U.S. trading partners around the world. Analysts warned the tariffs will hurt many U.S. allies.

Speaker of the House Paul Ryan meets with reporters following a GOP strategy session. VOA
Speaker of the House Paul Ryan meets with reporters following a GOP strategy session. VOA

Ryan is ‘extremely worried’

In a rare break with the White House, House Speaker Paul Ryan and other key Republican lawmakers are trying to convince Trump to change his mind and not impose the tariffs. Ryan and the others say the tariffs would hurt consumers because they could lead businesses to impose higher prices and undercut any positive effect the recent Republican-approved tax cuts would have on the U.S. economy.

The motorcycle maker Harley-Davidson Inc. is headquartered in Ryan’s home state and is being targeted by Europe in retaliation for Trump’s plan to impose steel and aluminum tariffs.

Ryan spokeswoman AshLee Strong said in a statement, “We are extremely worried about the consequences of a trade war and are urging the White House to not advance with this plan. The new tax reform law has boosted the economy and we certainly don’t want to jeopardize those gains.”

White House Press Secretary Sarah Sanders said the administration has a “great relationship” with speaker Ryan, but “that doesn’t mean we have to agree on everything.” Sanders added, “the President has been committed and talked about this for many years, particularly on the campaign trail, and the people came out loud and clear and supported this president, therefore supporting the policies he campaigned on.”

Also Read: Despite ‘Donald Trump effect’, global momentum gained on climate change

Sanders said the administration is still finalizing the details of the measure, and she did not want to provide more information on the decision ahead of the final announcement.

President Trump tweeted last Friday that “trade wars are good, and easy to win.” When asked to elaborate, Sanders said “the President feels if we ended up in a trade war, the President is confident we will win, but that’s not the goal, the goal is to get “free, fair, and reciprocal trade, and hope other countries will join him.”

Trump told reporters he does not believe his plan to impose the aluminum and steel tariffs will spark a trade war.

Canada's Prime Minister Justin Trudeau says that it is 'unacceptable.' VOA
Canada’s Prime Minister Justin Trudeau says that it is ‘unacceptable.’ VOA

‘Absolutely unacceptable’

Canadian Prime Minister Justin Trudeau said the tariffs are “absolutely unacceptable.”

In 2016, the last year with complete government statistics, the United States reported it sent $12.5 billion more in goods and services to Canada than it imported, while it had a $55.6 billion trade deficit with Mexico.

Canada is the largest U.S. trading partner and last year shipped $7.2 billion worth of aluminum and $4.3 billion of steel to the United States.

European Commission President Jean-Claude Juncker’s threatened the European Union could respond by taxing iconic American-made products, such as bourbon whiskey, blue jeans and Harley-Davidson.

To this, Trump responded, “People have to understand, our country, on trade, has been ripped off by virtually every country in the world, whether it’s friend or enemy, everybody. China, Russia, and people we think are wonderful, the European Union, we can’t do business in there, they don’t allow.”

$800 billion lost a year

Trump contended the EU has “trade barriers far worse than tariffs.” He said, “If they want to do something, we’ll just tax their cars that they send in here like water.”

Trump added, the U.S. lost $800 billion a year on trade, and the biggest problem is China. He said, “we lost $500 billion. How previous presidents allow that to happen is disgraceful, but we’re going to take care of it.”

In 2017, Canada, Brazil, South Korea and Mexico accounted for nearly half of all U.S. steel imports. That year, Chinese steel accounted for less than 2 percent of overall U.S. imports. VOA

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

World’s First AI News Anchor Debuts From China

The analyst urges China to open up and include multinational software and services to contribute to its digital economic transformation.

0
AI News ANchor
Xinhua news anchor Qiu Hao stands next to an AI virtual news anchor based on him, at a Sogou booth during an expo at the fifth World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China. VOA

China’s state-run Xinhua News has debuted what it called the world’s first artificial intelligence (AI) anchor. But the novelty has generated more dislikes than likes online among Chinese netizens, with many calling the new virtual host “a news-reading device without a soul.”

Analysts say the latest creation has showcased China’s short-term progress in voice recognition, text mining and semantic analysis, but challenges remain ahead for its long-term ambition of becoming an AI superpower by 2030.

Nonhuman anchors

Collaborating with Chinese search engine Sogou, Xinhua introduced two AI anchors, one for English broadcasts and the other for Chinese, both of which are based on images of the agency’s real newscasters, Zhang Zhao and Qiu Hao respectively.

In its inaugural broadcast last week, the English-speaking anchor was more tech cheerleader than newshound, rattling off lines few anchors would be caught dead reading, such as: “the development of the media industry calls for continuous innovation and deep integration with the international advanced technologies.”

AI News Anchor
This photo illustration shows a man watching an artificial intelligence (AI) news anchor from a state-controlled news broadcaster, on his computer in Beijing, VOA

It also promised “to work tirelessly to keep you [audience] informed as texts will be typed into my system uninterrupted” 24/7 across multiple platforms simultaneously if necessary, according to the news agency.

No soul

Local audiences appear to be unimpressed, critiquing the news bots’ not so human touch and synthesized voices.

On Weibo, China’s Twitterlike microblogging platform, more than one user wrote that such anchors have “no soul,” in response to Xinhua’s announcement. And one user joked: “what if we have an AI [country] leader?” while another questioned what it stands for in terms of journalistic values by saying “What a nutcase. Fake news is on every day.”

Others pondered the implication AI news bots might have on employment and workers.

“It all comes down to production costs, which will determine if [we] lose jobs,” one Weibo user wrote. Some argued that only low-end labor-intensive jobs will be easily replaced by intelligent robots while others gloated about the possibility of employers utilizing an army of low-cost robots to make a fortune.

AI News ANchor
The creation showcases China’s progress in voice recognition. Flickr

A simple use case

Industry experts said the digital anchor system is based on images of real people and possibly animated parts of their mouths and faces, with machine-learning technology recreating humanlike speech patterns and facial movements. It then uses a synthesized voice for the delivery of the news broadcast.

The creation showcases China’s progress in voice recognition, text mining and semantic analysis, all of which is covered by natural language processing, according to Liu Chien-chih, secretary-general of Asia IoT Alliance (AIOTA).

But that’s just one of many aspects of AI technologies, he wrote in an email to VOA.

Given the pace of experimental AI adoption by Chinese businesses, more user scenarios or designs of user interface can be anticipated in China, Liu added.

Chris Dong, director of China research at the market intelligence firm IDC, agreed the digital anchor is as simple as what he calls a “use case” for AI-powered services to attract commercials and audiences.

AI News Anchor
Others pondered the implication AI news bots might have on employment and workers.

He said, in an email to VOA, that China has fast-tracked its big data advantage around consumers or internet of things (IoT) infrastructure to add commercial value.

Artificial Intelligence has also allowed China to accelerate its digital transformation across various industries or value chains, which are made smarter and more efficient, Dong added.

Far from a threat to the US

But both said China is far from a threat to challenge U.S. leadership on AI given its lack of an open market and respect for intellectual property rights (IPRs) as well as its lagging innovative competency on core AI technologies.

Earlier, Lee Kai-fu, a well-known venture capitalist who led Google before it pulled out of China, was quoted by news website Tech Crunch as saying that the United States may have created Artificial Intelligence, but China is taking the ball and running with it when it comes to one of the world’s most pivotal technology innovations.

Lee summed up four major drivers behind his observation that China is beating the United States in AI: abundant data, hungry entrepreneurs, growing AI expertise and massive government support and funding.

AI News Anchor
People watching the AI News Anchor

Beijing has set a goal to become an AI superpower by 2030, and to turn the sector into a $150 billion industry.

Yet, IDC’s Dong cast doubts on AI’s adoption rate and effectiveness in China’s traditional sectors. Some, such as the manufacturing sector, is worsening, he said.

He said China’s “state capitalism may have its short-term efficiency and gain, but over the longer-term, it is the open market that is fundamental to building an effective innovation ecosystem.”

The analyst urges China to open up and include multinational software and services to contribute to its digital economic transformation.

Also Read: Heavy Cyber Attacks From Russia, US, China in India

“China’s ‘Made-in-China 2025’ should go back to the original flavor … no longer Made and Controlled by Chinese, but more [of] an Open Platform of Made-in-China that both local and foreign players have a level-playing field,” he said.

In addition to a significant gap in core technologies, China’s failure to uphold IPRs will go against its future development of AI software, “which is often sold many-fold in the U.S. than in China as the Chinese tend to think intangible assets are free,” AIOTA’s Liu said. (VOA)