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Trump will be blamed for a global recession if he continues his trade war with China, says Boris Johnson
Donald Trump risks taking the blame for a global recession if he continues his trade war with China, the UK prime minister Boris Johnson said ahead of their meeting at the G7 summit.
The two leaders met for breakfast in Biarritz on Sunday morning. In advance of their meeting, Johnson warned Trump that his trade war was “not the way to proceed,” and risked pushing the global economy into a downturn.
“Apart from anything else, those who support the tariffs are at risk of incurring the blame for the downturn in the global economy irrespective of whether or not that is true,” he told reporters on Saturday.
He said other countries, including the UK are “at risk of being implicated in this.”
“We [the UK] face tariffs of altogether £2.25 billion – that’s the value of the goods affected, £1.1 billion on whisky alone – that we could face if this goes on. This is not the way to proceed.”
He called on the president to change tack and go for an “opening up of global trade,” instead.
“I want to see a dialling down of tensions and I want to see tariffs come off,” he said.
Johnson also urged Trump to drop restrictions on UK goods entering US markets as part of a potential post-Brexit trade deal.
“It’s not just beef or lamb that is currently banned from entering the US, in spite of their commitment to overturn that prohibition in 2014,” Johnson said.
“Melton Mowbray pork pies, which are sold in Thailand and in Iceland, are currently unable to enter the US market because of some sort of Food and Drug Administration restriction.”
Trump later denied that he was coming under pressure from other world leaders to back down in his trade war with China, saying “nobody would tell me that.” He added that “I think they respect the trade war.”
Speaking to reporters alongside Johnson, ahead of their meeting, Trump also praised him as a “great prime minister” and the “right man” to deliver Brexit.
“He needs no advice, he is the right man for the job,” Trump said.
“I’ve been saying that for a long time. Didn’t make your predecessor [Theresa May] very happy, but I’ve been saying that for a long time.”
https://www.businessinsider.my/boris-johnson-donald-trump-trade-war-china-global-recession-g7-2019-8/
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Discussions
1 person likes this. Showing 50 of 71 comments
China media is lying machine ,everybody knw about it , and qqq3 prefered lying and falsehood ,other then real info.
2019-08-27 15:45
Posted by enning22 > Aug 27, 2019 10:49 AM | Report Abuse
don't be silly , the outcome already out there, massive unemployment is happening now in China, that you won't know,business shut down everywhere, currency devalued , food price sky rocketing ,massive foreign deinvestment , all these are fact , not imagination,
The RMB is not convertible except for the amount marked for trade and investment. China is purposely devaluing it agst USD. It is foolhardy to try to prop up RMB in face of trade war as the Duck would like. With limited capital flight, it should be able to weather uncertain times.
2019-08-27 15:49
Xi want discussion but never bent down,now Maddump balls shrinkage after realised one finger pointing not success, now 4 fingers point his arse....wakaka
2019-08-27 15:50
Posted by enning22 > Aug 27, 2019 3:45 PM | Report Abuse
China media is lying machine ,everybody knw about it , and qqq3 prefered lying and falsehood ,other then real info.
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China media is a well oiled machine that serves China well.........
2019-08-27 15:52
I prefer China media and is positive and happy focus...
I hate American media with its constant lying and focus on negative stuffs...........don't even know what they serve except trying to make money..........through sensationalizing stuffs.......
2019-08-27 15:54
Now only those sarhais know throughout decades ,US live on financial markets manpulations at others pain, and die die must derail China strive on real efforts on developments
2019-08-27 15:55
USD live on disposing old bombs n tombs of others that edii cant works,no gold n alots of bonds,soros now see dark scarce ghosts after charcoaled in HK, only stupig hnkies think is their capability....why US don't help brexit ar?
2019-08-27 16:02
Junichiro, the point missing is , China state own businesses already incured massive debt, these state corporation unable to service their debt.as this depleted large chunk of national foreign reserve. This real problem ,not so simple as you are imagining.
2019-08-27 16:07
Just listen to what Ray Dalio, the hedge fund manager of Bridgewater Investment said when asked by the audience abt China's debt. He said China's debt are all internal n can be proactively managed. Ray Dalio has lived in China for over 10 years. It is a talk at a forum in US (avaliable in Utube)
2019-08-27 16:12
RMB is convertible by trade not manipulations which US love,China can devalue itself without Soros type, but developing countries will be made even poorer,US for Africa no real aids, is manipulatons for natural resources n set propaganda to control world sarhais
2019-08-27 16:16
China still scared of Soros types......very dangerous types......cannot lower the guard, cannot be too sure.
2019-08-27 16:19
you can believe anything you like to believe,all i know ,inflation is rampant ,price of everything seen is sky rocketing, pork price jumps 300% in super market, go higher almost every day.
2019-08-27 16:21
China proven closed door self salvage being disliked, can easily look back n US ,Europe will bankrupt with lesser money circulations n trade flows, n bon yield will shoot thro the roof
2019-08-27 16:21
by enning22 > Aug 27, 2019 4:21 PM | Report Abuse
you can believe anything you like to believe,all i know ,inflation is rampant ,price of everything seen is sky rocketing, pork price jumps 300% in super market, go higher almost every day.
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Gordon Chang II?
no worry...China ok one.
2019-08-27 16:23
no worry ,like Venezuela also ok one.or not so bad lah, if ask whether can win in US-China trade war, the answer is no way.
2019-08-27 16:33
enn......China is producer...not financial engineering.........China is Confucian society......
2019-08-27 16:37
Trump will never win war with China he is the most stupid President ever elected by Americans...China and Jews are same brain they win on each games.
2019-08-27 16:41
enn......China is producer...not financial engineering.........China is Confucian society......but more important, the CCP today is a very competent organisation.
2019-08-27 16:55
Trump may be stupid ,accord to people like you ,but he certainly a lot smarter then PanjiAlam55, and he is President, not you.
2019-08-27 16:55
the stupid ones are his voters and his social media fans like enning..............
2019-08-27 16:59
don't be silly, Trump become President WALL St,dow jones indexes , sky rocketing from 16000--moved up to 26000. bad for everybody as you said , too high to invest.no more cheap stocks.
2019-08-27 17:01
wall Street not as smart as u think......
wall street is celebrating tax cuts, low interest rates, `qe.............all the financial engineering no cost meh?
2019-08-27 17:04
Trump is also alot smarter then LynasToxin,Trump knows what he is talking about,with excellence advicers around him , while LynasToxin got all his info wrong.that is a sad case.
2019-08-27 17:07
the rich ones bcome richer collaborating with Maddump through financial markets,the idiots poor become poorer with inflations from tarrif making good ac collection only
2019-08-27 17:08
enn........America is building a failed state...China is building socialism with Chinese characteristics......
2019-08-27 18:36
so made self believed in red world ,why don't they buy china stocks ,cheap ,cheap now, all time lows.
2019-08-29 09:55
on contrary someone said America system is broken,why American stocks climbed new high after new high. funny isn't it????? or somebody is just stupid.
2019-08-29 10:27
while you take fake news and propagand from china as true, i don't see how you understand world economy works correctly, may be a fake parralel world.
2019-08-29 11:10
chinamen had many dreams, and many dreams are just illusions, just deceiving themselves, and continue dreaming .
2019-08-29 12:03
"America system is broken" simply means that wealth is not equally shared among its citizens. The US n western powers benefited from globalization but the income of the ordinary citizens dropped. The question is where the benefits went to? It went to the few percentage of the richest. The yellow vest in France vent their anger at Macron while Trump created a narrative that only China benefited.
In the China, 88% of the population has been pulled out of poverty. Otherwise, the CCP would have been overthrown long ago.
But this does not have a connection with stock mart performance in US. The rich, the hedge funds .. have all the means to play the market up n down.
2019-08-29 12:31
the 3 stages of China's revival ...
1949 to 1980
built up internal strength,
1980 to recently
opening up and capitalism with Chinese characteristics.
now onwards
socialism with Chinese characteristics.....Make in China 2025 and strategic plans to 2050..............
included in the plans......overcome US whatever they throw at China...........
2019-08-29 13:16
anyone especially USA and their ennings who try to interfere with the sovereignty of China will fail.
2019-08-29 13:21
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enning22 > Aug 27, 2019 3:39 PM | Report Abuse
may be you are refering qing dynasty,has dynasty , tang dynasty，song dynasty,manchu dynasty,所谓，“党破山河在”。the mountains and rivers will still be there, the communist party long gone.That is idea.
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icon is right. U are falungung.....how did u escape??
2019-08-27 15:44