Published: Sat, March 10, 2018
Worldwide | By Victor Meyer

Ready for (Trade) War

Ready for (Trade) War

"The outcome will only be harmful", he said on the sidelines of an annual meeting of China's parliament.

"China's position is firm and consistent", said Mr Wang.

During the meeting between Prime Minister Modi and President Xi Jinping in Xiamen in September a year ago, the two leaders had agreed that sound development of relations between India and China were a factor of stability amidst today's global uncertainties, and that the two countries should not allow their differences to become disputes, he noted.

China warned the United States on Thursday that everyone would be harmed if President Donald Trump launches a trade war, as official figures showed the Asian power maintained a robust trade surplus with the U.S. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with.

Trade tensions between the world's two largest economies have risen since Trump took office. We must act soon! "China would have to make a justified and necessary response".

China's resolve to protect peace and stability in the South China Sea is unshakeable, Foreign Minister Wang Yi said on Thursday (March 8).

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Trump is also considering potential trade sanctions against China under a "section 301" investigation into its intellectual property practices and pressure on foreign companies for technology transfers.

Bambawale met with Wu Hailong, President of Chinese People's Institute of Foreign Affairs (CPIFA), in Beijing, the Indian Embassy here tweeted.

President Xi Jinping sent his top economic aide, Liu He, to Washington to discuss trade issues last week on the heels of a similar visit by state councilor Yang Jiechi last month. His departure leaves "nationalist" advisers like arch China skeptic Peter Navarro, author of Death by China, and Commerce boss Wilbur Ross with the president's ear. A $1 billion reduction is a drop in the bucket considering the fact that the USA trade deficit with China in 2017 was $375 million. In Beijing, officials continue to search for a way out.

The movement is not aimed only at China, but nobody escapes that Beijing can be one of main goals of protectionist darts of Trump in future considering that Asian giant is biggest responsible for bulky deficit American commercial.

February's surplus did edge downwards from the $21.9 billion recorded in January and $25.6 billion from December.

Moreover, according to a statement by Alicia García Herrero, chief economist for Asia of French investment bank Natixis, Trump's measures "point to wrong target" because steel and aluminum purchases account for only 3.5% of trade deficit with China.

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