Chinese Economics Thread


xiabonan

Junior Member
What the ruling does is to legitimize the tariffs that China applied on US goods.

A WTO ruling on invalidity of tariffs essentially does one thing: the party with the winning verdict can lawfully apply the same amount of tariffs back (which China has already done anyway).

So nothing really will change apart from the fact that US tariffs on China is now "illegal" under international law while Chinese tariffs on the US is now "legal". So China can say that its actions are within the framework of the rules-based international order and slam the US on that.

Basically at this point it's a moral weapon instead of doing anything in particular.
 

Petrolicious88

Junior Member
Registered Member
It appears to be a good compromise; everyone wins, given the circumstances.

CIFUS's national security concern would be addressed since the data would be under the custodian of a blue-blood American company, Oralce. Trump wins because he can brag that his intervention has resulted in a US company landing a large cloud contract, and if Walmart joins the party, another blue-blood American company has its hands in the jar. It's even better one of the company is his good friend (Larry Ellison). The US Department of Treasury can even get a cut of the deal. For someone proud of his deal making ability, this one is for the history book. The American users win because they get to continue to access their beloved social media platform.

For the US companies that have been interested in acquire TikTok US operation, it would be a very difficult integration even if the deal come through, as Microsoft had said earlier in the negotiating stage, it would take at least a year to completely take over the codes and some even said it might take eight years. The success of TikTok is much more than the algorithm, even more than the data. It is their close integration of technology, data, process and organization structure that is the secret sauce. It has taken years and many trials-and-errors for TikTok to figure out how to make it work. Chinese government's step-in has supported and boosted ByteDance's negotiating stance, and gives everyone an excuse to take a step back and be more rational.

So everyone wins. The potential spoiler would be Trump's ego, because he has said repeatedly that TikTok has either to be closed or sold to US companies. If he feels a loss of face because the current deal does not go exactly as he demanded, he may still kill it.
No. America again won. They got ticktock. And afterwards, Trump is still going to go after Bytedance.
 

siegecrossbow

Brigadier
Staff member
Super Moderator
So much for "ban or sell".

In the end it's like what Tik Tok has always agreed to do which is just to keep US data in the US. So much for Trump's winning.
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The United States hit the pause button on tariffs on Canadian aluminum today, agreeing to withdraw current penalties — at least until after the presidential election in November.

The move came right as Canada was set to impose a wide range of retaliatory measures that would have hit some politically inconvenient targets for President Donald Trump as he seeks re-election.

Ottawa was planning to reveal its targets for retaliation at 3 p.m. ET today. Shortly after noon, however, the U.S. abruptly declared it would drop its recently imposed 10 per cent import tax on Canadian aluminum — and revisit the issue every month.
Lol what's going on?
 

Breadbox

Junior Member
Registered Member
Well well what do you know WTO ruling the tariff is illegal
From Yahoo
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US tariffs on China are illegal, says world trade body
JAMEY KEATEN
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September 15, 2020, 9:18 AM CDT

GENEVA (AP) — A World Trade Organization panel ruled Tuesday that Trump administration tariffs on $200 billion worth of Chinese goods are illegal, vindicating Beijing even if the United States has all but incapacitated the WTO's ability to hand down a final, binding verdict.

The decision marks the first time that the Geneva-based trade body has ruled against a series of high-profile tariffs that President Donald Trump's government has imposed on a number of countries — allies and rivals alike. Trump has repeatedly claimed that the WTO treats the U.S. unfairly.
In its decision, the WTO’s dispute settlement body ruled against the U.S. government's argument that China has wrongly engaged in practices harmful to U.S. interests on issues including intellectual property theft and technology transfer.

The ruling, in theory, would allow China to impose retaliatory tariffs on billions' worth of U.S. goods. But it is unlikely to have much practical impact, at least in the short term, because the U.S. can appeal the decision and the WTO's appeals court is currently no longer functioning — largely because of Washington’s single-handed refusal to accept new members for it.

The appeals court issues final rulings in trade cases and stopped functioning last year when the terms of two of its last three judges expired with no replacements. That means the United States can appeal the decision “into the void,’’ said Timothy Keeler, a lawyer at Mayer Brown and former chief of staff for the U.S. Trade Representative.
‘Look at how my children turned on me ;(‘

But this is hardly a surprise at all, the United States have racked up the absolute highest number of disputes/complaints filed against it in the WTO.

Yet if you get all your info from the msm, all you will ever hear is how ‘poor lil US is being bullied and coerced in trade by other countries’. The US media has a strong hold on the global consciousness and the truth is easily drowned out by the loud, incessant babbling of American politicians.
I think it might be one of Trump’s tactics, doesn’t matter if no one believes our inane babbling, at least it keeps impartial and actual analysis out of the public attention.

Now I’m wondering when would he accuse the WTO of being a Chinese puppet and pull out of it.
 

Breadbox

Junior Member
Registered Member
What the ruling does is to legitimize the tariffs that China applied on US goods.

A WTO ruling on invalidity of tariffs essentially does one thing: the party with the winning verdict can lawfully apply the same amount of tariffs back (which China has already done anyway).

So nothing really will change apart from the fact that US tariffs on China is now "illegal" under international law while Chinese tariffs on the US is now "legal". So China can say that its actions are within the framework of the rules-based international order and slam the US on that.

Basically at this point it's a moral weapon instead of doing anything in particular.
Hahahahaha ‘Rule-based international order’, rules for Thee for but not for me!
 

emblem21

Junior Member
Registered Member
‘Look at how my children turned on me ;(‘

But this is hardly a surprise at all, the United States have racked up the absolute highest number of disputes/complaints filed against it in the WTO.

Yet if you get all your info from the msm, all you will ever hear is how ‘poor lil US is being bullied and coerced in trade by other countries’. The US media has a strong hold on the global consciousness and the truth is easily drowned out by the loud, incessant babbling of American politicians.
I think it might be one of Trump’s tactics, doesn’t matter if no one believes our inane babbling, at least it keeps impartial and actual analysis out of the public attention.

Now I’m wondering when would he accuse the WTO of being a Chinese puppet and pull out of it.
If he does that, then this is going be like the WHO pull out. All round lost of control in regards to having a say in the world health organisation. This means that China can steer the world in regards to medicine and anything health related and the USA now cannot do anything at all. Right when they had the most members in that organisation along with the highest amount of funding and also the fact that they did warn Trump about the situation so many times about the virus. IF Trump leaves the WTO, the you know that the influence that the USA will have on the world is going to drop drastically and ultimately an even bigger defeat for the USA on the world stage, leading into some very deep ramifications.
 

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