Trade war with US will only bring disaster to global economy: China

Saul Bowman
March 12, 2018

China's commerce minister warned against a trade war with the a result of President TrumpDonald John TrumpAccuser says Trump should be afraid of the truth Woman behind pro-Trump Facebook page denies being influenced by Russians Shulkin says he has White House approval to root out "subversion" at VA MORE's tariffs on Sunday, saying it would bring disaster to the global community.

Diplomatic and US business sources say the United States has frozen a formal mechanism for talks on commercial disputes with China because it is not satisfied Beijing has met its promises to ease market restrictions. "But we can handle any challenges and are determined to protect the interests of our country and its people".

China will provide support for participants and exempt least-developed countries from the exhibition fee, he said. "It will only bring disaster to China and the United States and the world".

Trade tensions between China and United States have risen since Trump took office. The figure for February fell slightly from the previous month to US$21 billion, according to the latest data from the customs administration.

It is "important" to resolve the bilateral trade dispute through dialogue and to deepen economic cooperation between China and the United States, Zhong said.

"We are still in talks, and we are sure that both sides will continue to talk about the next step", he added.

The two sides also agreed to talk about related issues in Beijing in the near future, aiming to create conditions for further cooperation.

"The European Union, wonderful countries who treat the United States very badly on trade, are complaining about the tariffs on Steel & Aluminum", he wrote on Twitter. "Big Deficit. If not, we Tax Cars etc. FAIR!"

The CIIE is a public platform for global trade development, he said.

Canada, Mexico and Australia have secured exemptions from the tariffs of 25 percent on imported steel and 10 percent on aluminum announced by Trump, though Canada's and Mexico's were conditioned on progress renegotiating the North American Free Trade Agreement.

Mr Trump said on Saturday the United States was "working very quickly on a security agreement" so as not to impose the tariffs on "our ally, the great nation of Australia".

China's response came after a Bloomberg reporter asked if the country would consider retaliatory behavior following the tariffs.

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