Big bike forced off road by car on Bangkok highway - video

[rooster59]

Trump brings tough trade message in vision for Asia

By Steve Holland and Matthew Tostevin

 

U.S. President Donald Trump speaks on the final day of the APEC CEO Summit, part of the broader Asia-Pacific Economic Cooperation (APEC) leaders' summit, in Danang, Vietnam November 10, 2017. REUTERS/Anthony Wallace/Pool

 

DANANG, Vietnam (Reuters) - U.S. President Donald Trump set out a strong message on trade at a meeting of Asia-Pacific countries in Vietnam on Friday, saying the United States could no longer tolerate chronic trade abuses and would insist on fair and equal policies.

 

Trump said the United States was ready to make a bilateral deal with any country in the Indo-Pacific region, but only on the basis of "mutual respect and mutual benefit".

 

"When the United States enters into a trading relationship with other countries or other peoples, we will from now on expect that our partners will faithfully follow the rules," he said in the seaside resort of Danang.

 

"We expect that markets will be open to an equal degree on both sides and that private investment, not government planners, will direct investment," he said in a speech ahead of a summit of Asia-Pacific Economic Cooperation (APEC) leaders.

 

Trump arrived in Vietnam from China on the fourth leg of a 12-day trip to Asia. Redressing the balance of trade between Asia and the United States is at the centre of Trump's "America First" policy he says will protect U.S. workers.

 

The difference between Trump's and China's approaches was made more stark by comments in a later speech from Chinese President Xi Jinping, who said globalisation was an irreversible trend and voiced support for multilateral trade deals.

 

While China has by far the biggest trade surplus with the United States, Vietnam is also on the list of those surpluses the Trump administration seeks to reduce.

 

APEC, which has long championed free trade, has itself been convulsed by the changes under Trump.

 

Since Trump abandoned the Trans Pacific Partnership (TPP) trade deal early in his presidency, the remaining 11 members have struggled to build momentum to keep it alive.

 

Leaders of TPP countries are due to meet on Friday after talks among ministers ended in confusion on Thursday with Japan's economy minister saying that they "agree in principle" and his Canadian counterpart saying that was not true.

 

Trump broke early with the "Pivot to Asia" of the Obama administration, worrying some traditional allies that he would allow China to extend its increasing dominance.

 

SOUTH CHINA SEA

 

Danang itself sits on the shore of the South China Sea, one of the region's biggest security headaches and where China's neighbours challenge its sweeping claim to most of the waterway as having no basis in law.

 

Trump said the region's future depended on upholding "freedom of navigation and overflight, including open shipping lanes". He also mentioned "territorial expansion" among evils such as drugs, people smuggling and terrorism.

 

Vietnam has become one of the most vocal critics of China's claims in the South China Sea and its construction of artificial islands.

 

In a sign of possible competition with China's grand Belt and Road plan, Trump said he would push the World Bank and Asian Development Bank to fund infrastructure development and would reform U.S. development finance institutions.

 

Trump said that would "provide strong alternatives to state directed initiatives that come with many strings attached".

 

"Above all, we seek friendship and we don’t dream of domination," he said.

 

Although he was addressing a meeting alongside the summit of Asia-Pacific leaders, Trump repeatedly referred to the Indo-Pacific region and mentioned the importance of India in his speech.

 

Danang has a special place in U.S.-Vietnamese history: it was where the first U.S. ground troops disembarked in 1965 in the escalation of a war that would last another decade before the communist victory.

 

Danang was close to some of the heaviest fighting and its air base was the route through which many Americans of Trump's generation were sent to the war.

 

Trump himself did not serve, receiving five deferments - one for bone spurs in his heel.

 

 

-- © Copyright Reuters 2017-11-11

[DoctorG]

Canada is a last-minute withdrawer from the TPP.

[Srikcir]

New Zealand also has some unresolved issues.

[Kiwiken]

Interesting he says about unfair practices will that mean US Meat Producers no longer getting state subsidies and protection giving NZ Meat producers fairer access. Will he balance the US trade advantage with Countries Like New Zealand?

we do not tax or restrict US made goods why does the US and other Countries not reciprocate the good will?

[thaibeachlovers]

2 minutes ago, Kiwiken said:

Interesting he says about unfair practices will that mean US Meat Producers no longer getting state subsidies and protection giving NZ Meat producers fairer access. Will he balance the US trade advantage with Countries Like New Zealand?

we do not tax or restrict US made goods why does the US and other Countries not reciprocate the good will?

Probably because any counter action by the US would penalise NZ far, far more than any action against the US by NZ.

[Thaidream]

I listened to Trump's speech in full and while I disagree with his tone and how he delivered the message- he does have a point.  Most Southeast Asian countries have had free access to the US markets and have flooded America with products yet American products sold in many Asian countries have large excise tax placed on them and literally make them unaffordable to not only the average Thai but many Expats.  It is time for som reciprocity.  In addition, the Us needs to stop protecting American beef.  I would like to see New Zealand and Australian beef sold at US prices in America and Worldwide.

[Srikcir]

57 minutes ago, Thaidream said:

I would like to see New Zealand and Australian beef sold at US prices in America and Worldwide.

Regarding New Zealand, it's problem with the US appears to be more one of US production ramping up (hence cheaper from economy of scale) and increased Japanese tariffs on frozen New Zealand beef.

Frozen beef accounts for about 70% of New Zealand's beef exports to Japan - 4th largest market for New Zealand beef.

http://www2.nzherald.co.nz/the-country/news/article.cfm?c_id=16&objectid=11900264

 

[mrfill]

For chronic trade abuses, I guess he means the treatment of Bombardier

[riclag]

"  Most Southeast Asian countries have had free access to the US markets and have flooded America with products yet American products sold in many Asian countries have large excise tax placed on them and literally make them unaffordable to not only the average Thai but many Expats.  It is time for some reciprocity". 

 

I agree.This was a big talking point in the campaign!

Edited November 11, 2017 by riclag

[ilostmypassword]

13 hours ago, DoctorG said:

Canada is a last-minute withdrawer from the TPP.

Not true. Trudeau expresses some reservation and some parts are being renegotiated with Canada's participation.

[Credo]

The preferential trade status needs to be reviewed, but I believe in the past that has been reviewed annually.   Preferred trading status is given for goods that are usually not produced in the US and the status is to help developing countries with trade benefits.   So, it's not a matter of anything helping the US, since the goods being imported will be imported regardless of where they are made.    It does mean that shirts made in Bangladesh will get an advantage over shirts made in Italy.

 

When it comes to agricultural produce, then there are a lot of things in play, from health standards and protection for farmers.   

 

The net result of this will be nothing.   The US and almost no country gives a trade advantage to something that is produced in the country.    

[ilostmypassword]

1 minute ago, Credo said:

The preferential trade status needs to be reviewed, but I believe in the past that has been reviewed annually.   Preferred trading status is given for goods that are usually not produced in the US and the status is to help developing countries with trade benefits.   So, it's not a matter of anything helping the US, since the goods being imported will be imported regardless of where they are made.    It does mean that shirts made in Bangladesh will get an advantage over shirts made in Italy.

 

When it comes to agricultural produce, then there are a lot of things in play, from health standards and protection for farmers.   

 

The net result of this will be nothing.   The US and almost no country gives a trade advantage to something that is produced in the country.    

I don't know about that. There are lots of appliances made in Thailand that are inferior to those made in the USA and Europe and they come with heavy tariffs. And what about autos?

Edited November 11, 2017 by ilostmypassword

[Credo]

I was speaking about the import duties in the US and preferred trading status.  Many of the things which are 'Made in America' are actually made of components made overseas and assembled in the US.   

 

We can argue all kinds of goods and services because it is very complicated.   Appliances can be produced overseas at a greatly reduced rate, given a stiff tariff and still be cheaper than US made products.   

 

My point is, his 'tough-trade message' is in reality much less tough than he would like to have us believe.   

[ilostmypassword]

25 minutes ago, Credo said:

I was speaking about the import duties in the US and preferred trading status.  Many of the things which are 'Made in America' are actually made of components made overseas and assembled in the US.   

 

We can argue all kinds of goods and services because it is very complicated.   Appliances can be produced overseas at a greatly reduced rate, given a stiff tariff and still be cheaper than US made products.   

 

My point is, his 'tough-trade message' is in reality much less tough than he would like to have us believe.   

His trade message is esssentially that he wants to open bilateral negotiations with individual nations. Which is nuts. 

[coulson]

19 hours ago, rooster59 said:

Trump himself did not serve, receiving five deferments - one for bone spurs in his heel.

Hero of the people

[Jingthing]

24 minutes ago, coulson said:

Hero of the people

Indeed! 

 

[DoctorG]

9 hours ago, coulson said:

Hero of the people

If you have made the same remark about Clinton and Obama, then I commend you for your even-handedness.

[DoctorG]

9 hours ago, Jingthing said:

Indeed! 

 

Indeed, a very strange speech.

 

[coulson]

1 hour ago, DoctorG said:

If you have made the same remark about Clinton and Obama, then I commend you for your even-handedness.

Yes I would, all cowards, especially Clinton except that his wife dodged sniper fire in Beirut.

 

Apologies if I misspoke.

[Jingthing]

Translation of trump's "America First" slogan --

 

America alone

America irrelevant

America in retreat

America surrendering to China

 

[mrfill]

7 hours ago, DoctorG said:

If you have made the same remark about Clinton and Obama, then I commend you for your even-handedness.

Obama was born in 1961 and simple maths shows he was only 14 when the American war finished. Unlikely to have dodged the draft then. No need for the magic disappearing bone spurs.

[observer90210]

Could be a bit hard, to beat the rock bottom prices and free shipping from Ali Express !!

Edited November 12, 2017 by observer90210