economy
Senators urge Trump not to yield to China in shipbuilding
A bipartisan group of U.S. senators on Tuesday urged President Donald Trump to stick to trade measures his administration has proposed to revive American shipbuilding, and to make no concessions during his meeting with Chinese President Xi Jinping this week in China. Democratic Senators Tammy Baldwin and Mark Kelly, along with Republicans Tim Scott and Todd Young, said in a letter to Trump that Chinese efforts 'to destroy American shipbuilding' require full implementation of U.S. trade measures. 'The United States is at a crossroads and must not cede additional ground to the People's Republic of China. We urge you to stand firm in negotiations as we work together to implement trade measures and pass the SHIPS for America Act to level the playing field,' the senators stated in a letter seen by Reuters.
TL;DR
- U.S. senators urge President Trump to stay firm on trade measures for American shipbuilding.
- They advise against making concessions to China during the upcoming meeting with President Xi Jinping.
- The senators cite Chinese efforts to undermine U.S. shipbuilding and advocate for U.S. trade measures and the SHIPS for America Act.
- The article notes that China's share in global shipbuilding has grown significantly while the U.S. share has fallen.
- A previous delay in trade measures led to a recovery in Chinese orders, indicating market responsiveness to U.S. actions.