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Those Democrats who may be upset that Trump’s tariffs on Chinese goods and steel and aluminum will raise business costs and prices also face a practical problem in that they have little legislative means to stop them, since they are the result of executive orders, which do not need Congressional approval. Trump has signaled in the past week that he believes a deal with Chinese President Xi Jinping is achievable ebay cufflinks uk sale. The two are due to meet on the sidelines of the G20 leaders’ summit at the end of November..
If things do not go well, he has threatened to impose tariffs on about $267 billion worth of remaining Chinese imports to the United States. Currently, 10 percent tariffs on $200 billion of products are scheduled to rise to 25 percent on Jan. 1, 2019. “House Democrats are the most protectionist group in Congress,” said Derek Scissors, a China scholar at the American Enterprise Institute in Washington ebay cufflinks uk sale. If Trump makes a deal that fails to achieve significant changes to China’s practices, “they’ll jump all over him,” he said..
Representative Richard Neal, the expected new Democratic chairman of the tax-and-trade focused House Ways and Means Committee, sees China as a “big challenge” that both parties and multiple administrations have tried to tackle, a Democratic aide to the panel told Reuters. China too appears to have few illusions that the election results will earn it a reprieve from the Trump administration. “Particularly on trade, both (U.S.) parties agree. So, it will have little impact,” said Wu Baiyi, the director of the Institute of American Studies at the state-run Chinese Academy of Social Sciences ebay cufflinks uk sale.
The Global Times, a nationalist Chinese tabloid, said in an editorial late on Wednesday that the Republicans’ loss of the House “will hardly have any direct bearing on Trump’s China policy”. “China doesn’t need to be deluded by a perceived change in U.S ebay cufflinks uk sale. politics. We should just go about our own business,” the paper said. The bipartisan unity is less secure when it comes to trade talks with allies, however, and the new Democrat majority could make it more difficult to win congressional approval for a revamp of the North American Free Trade Agreement with Canada and Mexico..
Neal and Representative Bill Pascrell, who is set to chair the Ways and Means trade subcommittee, are promising to haul Trump’s top trade lieutenants into hearings not only to explain their strategy on China but also on future trade negotiations with the European Union, Japan and Britain. In a letter to fellow Democrats on Wednesday, Pascrell said that Republicans had refused to bring administration witnesses into hearings on tariffs or NAFTA negotiations. “Without hesitation, I would hold regular meetings and public hearings with members of this administration to impose transparency and assert Congress’ constitutional role in setting trade policy,” Pascrell said ebay cufflinks uk sale.