No one will win in a US-China trade war

  • No one will win in a US-China trade war

No one will win in a US-China trade war

Trump remained defiant and argued the pain of the dispute will pay off in the end, while China said that his administration would only "shoot itself in the foot" if it didn't back down from the "extremely wrong" threats.

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"We are not in a trade war with China". China responded in-kind, announcing their own 25% tariff on about $50 billion of additional US products including soybeans, cars, and chemicals.

Boeing has placed great importance on its 737 Max series as a key source of future profits, but the new Chinese regulations will affect aircraft with an empty weight of between 15,000 and 45,000 kg - a category seemingly tailor-made for Boeing's bestselling 737 Max 8 jetliner.

China said this week that it will slap a 25 percent tariff on US soybeans in retaliation for President Donald Trump's launch of a tariff strike on imports of Chinese goods, raising alarm among state and national agricultural officials about the likely harm to farmers who remain the heart of Virginia's economy, especially in worldwide trade.

China strongly condemns and firmly opposes such action, Lu said.

President Donald Trump on Wednesday tried to tamp down economic anxieties over tariffs recently announced by China and the United States.

The U.S. side published the list in disregard of the mutually-beneficial and win-win nature of the China-U.S. commercial cooperation in the past 40 years, the appeal of the Chinese and American business communities and the interests of consumers, it said.

"I'm going to take a hard look at what the president has proposed". The Trump tariffs on steel and aluminum imports are not likely to have a big effect on port revenues, but export of agriculture and forestry products is a different matter, Layne said. The US commerce secretary, Wilbur Ross, told CNBC that "even shooting wars end with negotiations".

But in the long run that could well mean the main beneficiary of a full-fledged trade war will be China.

"The market should be focused on it because it's (U.S. protectionist measures are) bad news", fund manager Ashmore's head of research, Jan Dehn, said. China's economic tsar, Liu He, has spoken over the phone with the USA treasury secretary, Steven Mnuchin, who is reportedly considering a trip to Beijing.

The implementation date of China's retaliatory tariffs depends on the outcome of bilateral negotiations, and the US decisions, Deputy Finance Minister Zhu Guangyao told reporters after a news conference in Beijing.

He warned that any threat to multilateralism would severely imperil the global economic recovery. He said the USA isn't entering "World War III" and left the door open for a negotiated solution. An aggressive move by the United States followed by an aggressive Chinese answer. Soon it had exceeded that of Britain, signalled by the fact that USA factories were able to produce more goods with the same amount of labour - an increase in productivity.

WALL STREET: Major U.S. benchmarks ended higher. But he added, "We're going to have a much stronger country when we're finished".

After the Trump Administration laid down the law on intellectual property, China threatened a 25 percent penalty to imports of American soybeans.

One hand hand, Trump is endangering the existence of the World Trade Organization, on the other he is seeking its help to enforce a better, fairer deal for the USA (and the rest of the world).