Earlier today, the U.S. Treasury’s Office of Foreign Assets Control added 10 Chinese and Russian firms to its North Korea Sanctions List.
In response, China called on the US to Immediately Fix the Sanctions ‘Mistake’.
The United States should “immediately correct its mistake” of imposing unilateral sanctions on Chinese companies and individuals to avoid damaging bilateral cooperation, a Chinese embassy spokesman said on Tuesday.
“China opposes unilateral sanctions out of the U.N. Security Council framework, especially the ‘long-arm jurisdiction’ over Chinese entities and individuals exercised by any country in accordance with its domestic laws,” the embassy spokesman said.
“We strongly urge the U.S. to immediately correct its mistake, so as not to impact bilateral cooperation on relevant issues.”
Retaliation Threats
On July 26, Bloomberg reported Russia Warns of ‘Painful’ Response If Trump Backs U.S. Sanctions.
On July 30, Reuters reported Russian Official Threatens Retaliation Over U.S. Sanctions.
Speaking on ABC’s “This Week,” Russian Deputy Foreign Minister Sergei Ryabkov referred to a bill passed by Congress on Thursday to sanction his country as “weird and unacceptable,” and said it was “the last straw.”
“If the U.S. side decides to move further towards… deterioration, we will answer. We will respond in kind. We will … retaliate,” he said.
Ryabkov’s comments came after Moscow ordered the United States on Friday to cut hundreds of diplomatic staff and said it would seize two U.S. diplomatic properties as a response to the new sanctions that were approved nearly unanimously by both the House of Representatives and the Senate.
“We have a very rich toolbox at our disposal,” he said. “It would be ridiculous on my part to start speculating on what may or may not happen. We are not gamblers. We are people who consider things very seriously and very responsibly. But I can assure you that different options are on the table and consideration is being given to all sorts of things.”
How Trade Wars Start
I have commented many times this is precisely how trade wars start. And when it comes to sanctions and retaliations, Russia hold a very important card: uranium.
There is plenty of raw uranium in the world. The problem for the US is there is not plenty of refined uranium.
For further discussion, please consider Foolish Russia Sanctions: How Might Russia Strike Back? How About Uranium?
Even without the uranium angle, sanctions and trade wars are economic folly.
Mike “Mish” Shedlock
Well, the stock market has spoken … Bring On Trade War Armageddon!
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gee what are they going to do, cyber-hack our elections? tell one of their surrogate states to threaten us?
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“so as not to impact bilateral cooperation on relevant issues.” says China. That is a very odd statement considering the point of sanctioning a few Chinese businesses is to reduce support for NK’s nuclear program. Doesn’t China think the nuclear saber-rattling is a problem? I applaud Trump for having the guts to do something about that problem without military action. The previous presidents didn’t do anything to get NK under control. If anything they made it worse, by giving naive support to NK in response to a fake agreement to stop the nuclear threat.
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agree with your view.
it was a dark day in american and global history when both houses voted for trade sanctions. both houses ARE the swamp.
roll on mid terms to see if the american public gives a shit that the swamp is making them poorer and fomenting frictions for no reason around the world.
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DOW +196; NASDAQ +84; S&P +24.
Obviously the financial markets got spooked by the trade war talk.
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Precious metals took a hit today also. I’m thinking Mr. Market is glad The Donald is dealing with the NK nut-job in other ways than military.
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The sellers were tired. Besides, who wants to ruin a party.
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Mind the khazarian headfake. Spoken like a true colon muffled know nothing. Markets rarely do the obvious thing.
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Thanks, Hillary.
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Obummer did nothing for eight years; I don’t think anyone expected the same from Trump. We are fast running out of time before this nut job will be capable of nuking the US. Maybe we let him nuke the west coast and lose a few million liberals and have an excuse to nuke N Korea off the face of the earth.
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Radioactive weed?
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You need to be Japanese to even begin to know what a Nuclear war means. Now modern nukes can end life on earth, including yours. The most likely country to use this weaponry, as always, is the fortress USA. Well, USA is no longer a fortress, get used to it. Perhaps some thought might be given to agreeing to a nuclear free world but the USA is intransigent and will not even comply with the agreement made with Russia to a limited stockpile and reduced development. Modern warfare in any case will be all about system destruction (or control) and perhaps biological interference. If peace prevails demographics will determine our future as always. Have a look at birthrates, the west is in decline everywhere.
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Would have to agree sauna.
Expect biological actions via modified virus as being on the table too.
The more homogenous your society the more vulnerable to such modified agents as they could be developed to impact selected groups. In that case USA would still stand afterwards but large sections of closed societies could be taken down with assets still standing.
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Sorry – should be saruna.
I really expect genetically modified viruses to be on the table in future, used to remove large swathes of what are considered enemy humanity. The ability to rapidly develop antivirals is crucial.
Green lobby may be happy as no radiation, dust or nuclear winter. /sarcastic.
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Economic war precedes military confrontation, it does not take a rocket scientist to see we’re we are heading .k
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Rocket scientist? You’re giving people waaaay too much credit especially trumptards & their polar opposite libtards. Fatuous & short sighted with no understanding of economics would be more accurate. Add also no understanding of the concept of blowback.
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Congress is a pack of morons. But we are not going to war with Russia or China unless there is a coup….nor could the US possibly “win.” whatever that would look like…
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Just keep an eye on Afghanistan “Graveyard of the Empires” to see what a “WIN” looks like…
as that, apparently, is our “NEW STRATEGY” there.
“War does not determine who is right – only who is left.”— Bertrand Russell
Eisenhower nailed it with his Military Industrial Complex warning…
Obama didn’t slow that roll; neither will Trump.
Trump appears to relish leading the charge…
most coherent speech he has given…
MIC must be proud.
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The problem with wars is nobody wants them,they just happen. and it’s always. the other BAD guys that start them.
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I bought URA. Thanks for the tip, Mish.
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Uranium Resources – the stock that just went to zero?
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Trade wars have been going on forever. Trade agreements are unilateral trade wars where one side negotiates a deal based on leverage etc. If anyone tried to implement free unfettered trade, it would be a trade war. Someone always gets hurt with trade, look at nafta. Do think there were no victims from that agreement. Put a sock in it about trade wars, it is just another form of a trade without agreements.
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The aggression of the war mongering thugs that the American Idiocracy have elected for 70 years knows no bounds .
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You make it sound as though we have a choice. You should recall that in the movie “Idiocracy” the corporate conglomerate Brawndo owned the politicians and the system was strictly pay-to-play. The only thing voters could do was throw bricks at the politicos from behind the fences. In reality, my primary is so late in US presidential elections that the outcome is literally decided before I ever get to cast a vote. No joke.
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bilejones said: “The aggression of the war mongering thugs that the American Idiocracy have elected for 70 years knows no bounds .”
Yup.
VietNam, Korea, the Middle East, Cuba, etc.
Tens of thousands of American lives and Millions of non-American civilians all to enrich those who sell weapons and gain nothing for Americans.
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For a country that imports nearly everything, any type of sanction is folly. A sanctioned country usually can find a workaround . Obviously the usa thinks the printing presses will never run out of ink.
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Reblogged this on World Peace Forum.
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