The Briefing Room
General Category => Politics/Government => Topic started by: Emjay on December 08, 2018, 05:08:56 pm
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When President Trump first threatened to levy major tariffs on China, business leaders worried the administration was using the wrong weapon on the right target.
It wasn’t the flood of washing machines coming in and the trickle of Fords going out that raised the ire of America’s CEOs. They wanted something done about counterfeiting, allegations that the Chinese were stealing U.S. intellectual property and investment rules Beijing leans upon that force technology transfers.
https://www.wsj.com/articles/trumps-tough-china-tack-wins-over-skeptical-ceos-1544245201?mod=hp_featst_pos2 (https://www.wsj.com/articles/trumps-tough-china-tack-wins-over-skeptical-ceos-1544245201?mod=hp_featst_pos2)
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Can't read the whole thing, but coming from the WSJ this is a pretty stark admission.
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Some excerpts from article:
"The dozens of CEOs gathered for the Journal’s meeting in the capital, however, suggest business leaders have shifted their view of Mr. Trump’s confrontational approach. They now say they are encouraged that the administration recognizes complex problems demand sophisticated solutions."
"Speaking to the CEO Council, [John Bolton] proposed a rule that says there will be no imports into the U.S. of products or services based on the theft of American innovation. "
" the U.S. Chamber of Commerce’s China Center, said the White House has a supportive audience in the business community when it comes to confronting China. When Mr. Trump came to office, there was “a frustration that had been building over a number of years.â€
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"the White House published research estimating an annual cost of between $250 billion and $600 billion to the U.S. economy from China’s counterfeit goods, pirated software and theft of trade secrets. "
"When it comes to trade, Mr. Lewis says China’s strategy to win at any cost often overshadows the desire to be seen as a good citizen of the world.
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Can't read the whole thing, but coming from the WSJ this is a pretty stark admission.
I thought so too and the WSJ is very stingy about sharing only to subscribers. But I thought even the excerpt was worth sharing.