-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> News -> 
US SENATE OVERWHELMINGLY REBUKES TRUMP WITH TARIFF VOTE
    2018-07-13  08:53    Shenzhen Daily

THE U.S. Senate passed a resolution that is a “rebuke” of Donald Trump’s use of tariffs Wednesday.


As a response to the growing frustration from both Democrats and Republicans over the president placing high tariffs on imported steel and aluminum, the Senate’s resolution seeks to give it some leverage over future trade penalties the president wants to be passed in the name of national security.


“Let’s be clear, this is a rebuke of the president’s abuse of trade authority. Can you imagine being Canada and being told your steel and aluminum exports to the U.S. [are] a national security threat?” Republican Senator Jeff Flake said.


The resolution passed by an 88-11 vote, but it is a nonbinding resolution, meaning trade deal negotiators can ignore the Senate’s guidance.


Republican Senator Bob Corker, retiring after the midterm elections and frequent adversary of Trump, has said the effort is only “a baby step.”


The resolution is in direct response to Trump imposing up to 25 percent tariffs on steel and aluminum from Europe, Canada, and Mexico for the sake of national security, though no explanation of what threat that could be was really provided by the administration.


It requires Congressional approval for any tariffs brought under Section 232 of the Trade Expansion Act of 1962, which states national security should be the main reason for issuing tariffs.


As a result, Canadian politicians had threatened to slap tariffs on U.S. dairy farmers’ imports and the EU said Levi’s jeans, Kentucky bourbon, orange juice and other American goods could face high duties as well.


Meanwhile, Chinese telecoms gear-maker ZTE signed an escrow agreement with the U.S. Commerce Department and a ban on U.S. technology purchases will lift as soon as ZTE deposits US$400 million, the department said in a statement Wednesday. A person familiar with the matter said the escrow payment should be completed within a day.


Shares in ZTE, which are currently operating on a temporary waiver that expires Aug. 1, soared as much as 24 percent in Hong Kong on Thursday. Its Shenzhen-listed stock rose by its 10-percent daily limit.(SD-Agencies)


(Related story on P5)


















U.S. Senate to Trump: Slow down on escalating tariffs


U.S. Senate took President Donald Trump to task on trade but fell short of curtailing his power to impose tariffs.


In an 88-11 vote Wednesday, the Senate approved a symbolic motion backing a role for Congress in requiring tariffs based on national security, such as those Trump imposed on steel and aluminum imports and is contemplating on autos.


The escalating trade war with China caused stocks and commodities to slide in markets worldwide.


Not ‘targeted approach’


Legislation limiting Trump’s power would face dim prospects in the House. House Ways and Means Chairman Kevin Brady, R-Texas, said in an interview that in the “long term” he wants to examine national-security tariff powers, but for now he is working to ease the ability to seek exclusions from tariffs.


“Right now the focus is on how we buy time for president’s strategy to work against China and critical to that is really lifting the pain off of our local farmers and manufacturers,” Brady said.


‘Hamstring’ the president


House Speaker Paul Ryan of Wisconsin told reporters he wants to give Trump time to work out a deal with Chinese President Xi Jinping before acting on trade. “I don’t want to hamstring the president’s negotiating power,” he said.


Some House Republicans are urging action.


“We never should have delegated that authority to the president in the first place,” said Rep. Bill Flores, R-Texas. “We need to start taking it back. I hope Congress will act. Whether it will or not I don’t know.”


On Wednesday, six House members led by Rep. Mike Gallagher, R-Wisc., introduced bipartisan legislation to require Congress to approve future tariffs based on national security.


The push to rein in Trump is being propelled by business lobbyists. The Club for Growth and Heritage Action said Wednesday they would count the vote on the Corker motion in their scorecards that lawmakers use to tout their conservative credentials.


“As the trade war with China and other countries heats up, it’s imperative that Congress reclaim its authority by supporting this motion,” the Club for Growth said in a statement

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn