Trump Targets China With Sweeping Tariffs

Council on Foreign Relations Newsletter If you are unable to see the message below, click here to view. March 22, 2018 Daily News Brief   TOP OF THE AGENDA Trump Targets China With Sweeping Tariffs U.S. President Donald J. Trump is expected to announce roughly $50 billion in annual tariffs and restrictions that target China, a move the administration has characterized as retaliation for Chinese theft of U.S. intellectual property. Trump is expected this afternoon to sign the measure (FT) on "China's economic aggression," which will reportedly hit consumer goods such as shoes and electronics and restrict some types of Chinese investment (NYT) in the United States. Reciprocal tariffs from Beijing are expected on products for which the United States is a top supplier to China (WSJ), including soybeans, sorghum, and hogs. ANALYSIS "China is not afraid, nor will it dodge a trade war," Wei Jianguo said in an interview with Bloomberg. "For U.S. businesses the true gains would come from real change in China's IP regime, investment rules, and other regulations that make it hard to do business in China. Their focus is on further opening up China's lucrative market," Shawn Donnan writes for the Financial Times. "Trump sees tariffs as a tool to be used to equalize competition between the U.S. and foreign countries and to penalize foreign countries that disagree with U.S. foreign policy," William Perry said in an interview with the Diplomat. PACIFIC RIM Unofficial U.S.-North Korea Meeting Concludes A meeting that included two former U.S. ambassadors to South Korea, the North Korean envoy for U.S. affairs, and two former South Korean ambassadors concluded in the Finnish capital on Wednesday. The diplomats were expected to discuss denuclearization (Yonhap) on the Korean Peninsula. In Foreign Policy, CFR's Philip H. Gordon writes that Trump's move to "fix" the Iran deal ahead of North Korea talks is a terrible idea. SOUTH AND CENTRAL ASIA Dozens Dead in Kabul Bombing A suicide bomber struck a neighborhood near Kabul University where locals had gathered to celebrate the new year holiday Nawroz (Tolo), killing thirty-two people, according to the health ministry.  In Foreign Affairs, Vikram J. Singh writes that Washington should back peace talks in Afghanistan. INDIA: Credit Suisse called India one of the most vulnerable Asian economies (CNBC) as U.S. interest rates rise. The hikes are expected to prompt capital outflows from foreign economies as investors seek higher yields in the United States. MIDDLE EAST AND NORTH AFRICA Libya Unable to Hold Free Elections, HRW Says The human rights group said Libya "couldn't be farther away" from respect for the rule of law (HRW) and that political rights of Libyans should be guaranteed before the country holds general elections. The top UN official in Libya said holding elections in 2018 is "vital" (VOA). ISRAEL: A prominent Palestinian teenage activist received an eight-month prison sentence after pleading guilty to hitting an Israeli soldier (Ynet) and incitement during clashes in December, as well as two earlier attacks on soldiers. SUB-SAHARAN AFRICA Most African Nations Sign Free Trade Pact All but ten of Africa's countries signed a continental free trade agreement (Daily Trust) during a session of the African Union in Kigali, Rwanda, on Wednesday. Two major economies, Nigeria and South Africa, did not join the pact (NYT). ZIMBABWE: President Emmerson Mnangagwa issued a pardon for some three thousand prisoners (Herald) who are women, juveniles, or inmates serving sentences of less than three years. EUROPE UK's May to Ask Europe to Act Against Russia Prime Minister Theresa May is expected to ask European leaders at a Brussels summit to expel Russian intelligence agents (Guardian) from their countries to dismantle Moscow's spy networks across the region. The move follows a nerve agent attack on a Russian double agent and his daughter in the United Kingdom that was believed to be ordered by Russia. CIA veteran Jack Devine discusses spy-craft norms in this CFR interview.  TURKEY: A company with close ties to the government of President Recep Tayyip Erdogan has bought the media outlets Hurriyet and CNN Turk (Reuters). The nonprofit Reporters Without Borders called the move "a dark day for freedom of the press" (DW). AMERICAS Embattled Peruvian President Resigns Pedro Pablo Kuczynski, dogged by graft allegations, announced his resignation after recordings emerged showing allies attempting to sway lawmakers' votes ahead of impeachment hearings (NYT). Vice President Martin Vizcarra, who has been serving as the ambassador to Canada, is set to assume the presidency (LAHT). BRAZIL: Tens of millions of Brazilians were without power (Reuters) on Wednesday in an outage that largely affected the country's north and northeast. UNITED STATES Lawmakers Warn Against USAID Cuts Democratic and Republican lawmakers expressed concerns over a proposed 33-percent cut (VOA) to the budget of the U.S. Agency for International Development. Republican congressman Ed Royce said "U.S. leadership was key" to stopping an Ebola outbreak in West Africa and that such a cut could undermine democracy promotion abroad. An attorney for the oil giant Chevron told a San Francisco federal court that the company does not dispute scientific consensus (AP) that humans are the primary cause of global warming since the mid-twentieth century.         Council on Foreign Relations — 58 East 68th Street — New York, NY 10065 CFR does not share email addresses with third parties. Forward This Email | Subscribe to CFR Newsletters | Unsubscribe - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -  

From: dailybrief@e.cfr.org

Date: March 22, 2018 at 10:05PM