Auto Group Says Trump Trade Policies Will Kill 31000 Car Jobs

But Beijing’s decision to prioritize its official growth target could exact a high price, as policymakers grapple with financial risks created by an explosive growth in debt.

Rhodes warned the upcoming U.S. administration against seeking a new approach to the issue, calling such potential move “dangerous” and “destabilizing”.

However, the auto industry, which is one of the largest sectors potentially affected by Trump’s trade policies, says that the combination of new tariffs and changes to NAFTA will ultimately kill American jobs-and result in higher vehicle prices and fewer choices for American drivers to boot.

Mr Trump had often accused China of manipulating its currency – the yuan, also known as the renminbi – on his presidential campaign trail.

One week ahead of the Chinese Lunar New Year, Li attended the annual event to send greetings and collect wisdom on how to boost China’s innovation-driven growth and reinforce its soft power.

“Specifically, the year-on-year growth of GDP for the first quarter was 6.7 percent, 6.7 percent for the second quarter, 6.7 percent for the third quarter, and 6.8 percent for the fourth quarter”, the Bureau added, releasing the preliminary estimates. Online retail sales increased at a faster clip of 26.2 percent.

The White House, in a statement, said the USA will withdraw from the Trans-Pacific Partnership (TPP) trade pact, one of the largest in the region that brings together 12 nations.

Ma made his remarks at the Davos World Economic Forum, also adding that it is wrong to ascribe America’s economic problems to China. We’ve looked at China and the way their incomes have grown over time, and they’ve shifted their preferences to cotton-based products.

Edward Alden, a senior fellow at the Council on Foreign Relations, said he was “baffled” as to why Trump would try to renegotiate NAFTA, which governs trade with Mexico and Canada, while abandoning TPP wholesale. But capital outflows, debt, and geopolitical uncertainties will be the major risks for China’s growth this year, the International Monetary Fund noted.

Trade tensions or conflict could also undermine the USA ability to engage in linkage diplomacy.

Beijing will be watching closely amid fears a trade war could break out between the world’s top two economies, U.S. and China, after Donald Trump took office as the 45th president of the United States on Friday.

Donald Trump’s incoming trade team is backing a call from the Obama administration to take a hard line on China over semiconductors, after outgoing officials likened the potential impact of Beijing’s investment in the sector to the devastation seen in the global steel industry. The real trouble is that Trump lacks the capacity to deliver what Putin really wants, which is not the lifting of sanctions but US acceptance of a Russian sphere of influence in Eurasia, starting with Ukraine. China is slowly but surely re-defining its global responsibilities and shifting to a more active and cooperation oriented climate diplomacy.

If Trump identifies China as an enemy, rather than a competitor, or poses a serious threat to China’s core interests, China will likely pursue a “vigorous, full-throttle response”, Kennedy noted, but the Chinese “are very far from that conclusion” at the moment.

“Looking at the economic forces out there both globally and domestically, I think that China will face a few headwinds”.

There is another problem of strong-arming China that Trump’s team should consider: Retaliating against China may well weaken USA influence with Beijing on myriad non-trade issues such as security.