Farm Groups Concerned About China Trade War

China to increase 2018 defense budget by 8.1pc

China to increase 2018 defense budget by 8.1pc

Foreign Ministry spokeswoman Hua Chunying merely said in Beijing Friday that China urges the follow trade rules. Their tone hardened after Trump launched a probe in August of whether Beijing improperly pressures companies to hand over technology and in January raised duties on Chinese solar modules and washing machines.

Steel and aluminium each account for less than one percent of China's total exports to the United States.

U.S. Representative Ro Khanna, a Democrat, said on Twitter that "whether this was a joke or not, talking about being President for life like Xi Jinping is the most unAmerican sentiment expressed by an American President".

The comments were made as the recently announced intention of the U.S. to impose tariffs has heightened global concerns over potential trade confrontations, particularly those between the world's two largest economies.

The president's desire for wholesale change in US trade policy has met with increasing resistance from congressional Republicans as well as the business community, normally a reliable GOP ally.

Steel producers in Canada, Brazil, Mexico, South Korea and Turkey rely far more heavily on the United States market.

A visiting senior Chinese official and his USA hosts have agreed that the two countries should settle their trade disputes by cooperation rather than confrontation, so as to secure the healthy development of bilateral economic and trade ties.

LeBron James sends praise to Ben Simmons, Joel Embiid after big loss
The Portland Trail Blazers , meanwhile, had to much firepower for the Minnesota Timberwolves , easing to a 108-99 victory. James wondered why he was asked about being in Philadelphia , and was told there were reports that he was spotted there.

"Risks of trade wars are rising, but should be contained for now", said Cesar Rojas and Ebrahim Rahbari of Citigroup in a report.

Beijing's focus has been on two much broader issues.

Last year's growth target was "6.5% or higher". It was unveiled at the start of the National People's Congress, an annual gathering of Chinese lawmakers in Beijing. Trump says he will advocate for "sensible and fair reforms" to the WTO, promoting rules for "efficient markets, expanded trade, and greater wealth for all nations". But export-driven industries support millions of jobs, raising the potential political cost of any disruption. And Chinese officials want to preserve the overall ability of Chinese companies to continue investing in the United States.

The United States, China's No. 2 trade partner after the European Union, buys about 20 percent of Chinese exports but allows Beijing to run multibillion-dollar surpluses that offset its deficits with other partners. It also blasted the USA move on tariffs, saying it would hurt the global economy.

Moore says a disruption in soybean trade with China would have a negative price impact, plus it's very hard to reestablish market share once its lost.

Chinese investments overseas in technology and banking are under closer scrutiny while foreign companies and governments complain Beijing hampers access to its markets in violation of its free-trade commitments.

The ministry said Beijing has satisfied its trade obligations and appealed to Washington to settle market access and subsidy disputes through negotiation.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.