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Media Report
April 21 , 2017
  • Reuters reports: "U.S. President Donald Trump's first shot across China's bow over its steel exports, escalating a years-long brawl over trade between the world's top two economies, may not pull up Beijing. China exported 620,000 tonnes of steel direct to the United States last year, a fraction of the 800 million tonnes it produces each year, equal to about half of world output. Repeated allegations that the world's top steelmaker is dumping excess output on world markets may hit harder closer to home - in Japan and South Korea where steel sectors have borne the brunt of China's rampant sales abroad. Speaking in the U.S. capitol at IMF and World Bank meetings after Trump launched a trade probe against China and other exporters of cheap steel, Japan's finance minister Taro Aso laid the blame squarely on China, saying its vast exports are hurting U.S., Indian and Japanese steel industries...China's Foreign Ministry spokesman Lu Kang said on Friday the country needed to ascertain the direction of any U.S. investigation before it could make a judgment. Chinese steel executives repeated their mantra that overcapacity is not just China's problem and it needs global coordination to resolve it, but also said it would be tough to rein in the sector. 'The Chinese government will not set export limits for the steel mills and could not keep track of every mill,' said Li Xinchuang, vice chairman of the China Iron and Steel Association. 'It will not be a good thing for U.S. steel industry and consumers if Trump decides to adopt protectionism.' "
  • The Washington Post reports: "Southeast Asia, a focus of past U.S. presidents, has been overlooked thus far for the Trump administration, but Vice President Mike Pence's visit to Indonesia Thursday marked a sign of change and he announced the president would follow him to the region later this year. Anxious Southeast Asian governments are looking for America's commitment to counter China's economic and military clout. Vietnam's foreign minister is in Washington this week, and the top diplomats of the region's 10-nation bloc are expected to arrive en masse in early May, amid concerns their interests were being crowded out as President Donald Trump prioritizes Mideast counterterrorism, traditional alliances in Europe and North Korea's nuclear and missile threats...Washington is 'taking steps to strengthen our partnership with ASEAN and deepen our friendship,' Pence said, resolving to strengthen economic ties and security cooperation in combating terrorism and in the disputed South China Sea...'The region very much wants to know where the United States is going to stand on the South China Sea, and more broadly what its approach to China is going to be,' said Amy Searight, a former top U.S. defense official for the region."
  • Quartz comments: "North Korea is the foreign policy crisis that never goes away...The strategic patience policy, solidified by the Obama administration, was a fancy way of saying that Washington would no longer be itching to talk with the North Koreans. The US was going to lean on China to get tougher on the Kim dynasty; missile defense would be beefed up and US-South Korean-Japanese intelligence and defense collaboration would increase; and Kim Jong-un would have to be serious about denuclearization before US diplomats would waste any political capital on negotiating...By the time Obama handed over the reigns to Donald Trump, one of the most respected nuclear physicists on the planet estimated that North Korea had 'sufficient plutonium and highly enriched uranium to build 20 to 25 nuclear weapons.' One can see why the Trump administration would want to do things a little differently...And yet, there is very little evidence to date that would suggest that the era of strategic patience is in fact over. The two-month North Korea policy review that was recently completed by the National Security Council is essentially a continuation of the Obama administration's North Korea strategy, but with more bellicose rhetoric attached."
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