World News

China trade war? Not many people in China think it's likely

China trade war? Not many people in China think it's likely

President Donald Trump is expected to set tariffs of 25 percent on imported steel and 10 percent on imported aluminum this week.

"China does not want a trade war with the United States, but if the USA takes actions to hurt China's interests, China will not sit idly by and will take the necessary measures", Zhang said.

Leaders from China's metals industries said they have called on the Chinese government to take retaliatory measures.

New Zealand International Business Forum executive director Stephen Jacobi said he did not want to dismiss those impacts but with just $39m of steel and $22m of aluminium exported to the U.S. the bigger risk was the damage that the United States could do to the framework of the global trade network.

"In our globalized era, those who resort to commercial warfare are going to be choosing wrong remedy, y are not going to do anything but penalize ors, damaging mselves", Wang said at a press conference. "The outcome will only be harmful", Wang said.

"We do not want this to go out of proportion, but ... if it does happen we will have to take measures to protect European jobs". It fell during February this year compared to January in 2017. While these actions may prove politically popular with Trump's working class political base, especially in states hard-hit by factory closures and import competition, analyst warn they could undercut economic growth.

Still, the amount is a drop in the Pacific ocean, which divides the two nations, when compared with the record $375.2 billion trade deficit the USA racked up with China a year ago.

If they are both left out, the tariffs would still affect other countries that Trump has accused of playing unfairly on trade, including China.




"In the event of a trade war China will make the necessary and justified response".

Trump is also demanding a rewrite of the 1994 North American Free Trade Agreement with Mexico and Canada in an attempt to reduce the USA trade deficit with Mexico and to shift more auto production north of the border. Multiple media reports have indicated action on an investigation into Chinese IP theft and forced technology transfer, which analysts say would be more unsafe to global trade than the metals decision, is also ready to be announced at a moment's notice.

From a political standpoint, however, the gap has formed a statistical backdrop first to Trump's 2016 election campaign and now to his talk of tariffs on steel and aluminum.

China has been asked to develop a plan for year of a One Billion Dollar reduction in ir massive Trade Deficit with United States.

Senior foreign affairs officials from the four countries met late previous year to revive talks between the four democracies on the basis of "shared values and principles", in a move widely viewed as responding to China's growing assertiveness.

While his counterparts have threatened retaliation, concrete action that would herald the start of an all-out trade war has yet to come.

Beijing, Mar 8 Indian Ambassador to China Gautam Bambawale today held talks with a state-run Chinese strategic think-tank on improving Sino-India relations which were strained following a 73-day standoff at Dokalam.


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