China has made full preparation for the worst in the face of possible new round of restrictions imposed by the United States, Chinese Ministry of Commerce spokesman Gao Feng said at a press conference in Beijing on Thursday.

Gao made the remarks in response to a report saying that the US government is considering to use an emergency act to impose new restrictions on Chinese investments and curb its acquisitions of sensitive technologies.

"We have noted related comments from the US side. What I wish to stress is that China resolutely opposes all forms of unilateralism and protectionism. Over the years, Chinese enterprises have made important contributions to increasing domestic employment in the US and boosting the US economic development," said Gao.

Gao added that due to the uncertainty of investment environment, some enterprises have slowed their investment in the US, or even dropped their investment plans in the country, giving up the market.

"We hope the US side should do more things that go with the law of economic development and conform to the trend of world economic development, which will be truly conducive to the long-term stable development of itself and the global economy. As for the comments from the US side, China will not only listen to what they say but also observe what they do. In the manner of bottom-line thinking, we have made full preparation for the worst," said Gao. 
&nbsp

US government is considering to use an emergency act to impose new restrictions on Chinese investments and curb its acquisitions of sensitive technologies

China has made full preparation for the worst in the face of possible new round of restrictions imposed by the United States, Chinese Ministry of Commerce spokesman Gao Feng said at a press conference in Beijing on Thursday. Gao made the remarks in response to a report saying that the US government is considering to use an emergency act to impose new restrictions on Chinese investments and curb its acquisitions of sensitive technologies. "We have noted related comments from the US side. What I wish to stress is that China resolutely opposes all forms of unilateralism and protectionism. Over the years, Chinese enterprises have made important contributions to increasing domestic employment in the US and boosting the US economic development," said Gao. Gao added that due to the uncertainty of investment environment, some enterprises have slowed their investment in the US, or even dropped their investment plans in the country, giving up the market. "We hope the US side should do more things that go with the law of economic development and conform to the trend of world economic development, which will be truly conducive to the long-term stable development of itself and the global economy. As for the comments from the US side, China will not only listen to what they say but also observe what they do. In the manner of bottom-line thinking, we have made full preparation for the worst," said Gao.

Fully prepared for new US trade restrictions: China

After the US banned its <a href="http://www.wionews.com/world/us-bans-american-companies-from-selling-to-chinese-phone-maker-zte-130846">companies to trade with China's ZTE </a>Corporation for seven years citing that it broke settlement agreement with false statement, the Chinese government hit back saying the US was "suppressing" China's technological development under the "guise of national security."&nbsp;

ZTE which is China's second largest telecom equipment maker said it regards compliance as the cornerstone of its strategy.

"Refusal orders will not only seriously endanger the survival of ZTE, but also hurt the interests of all ZTE's partners including a large number of US companies," the company said in a statement.

The Chinese foreign office spokesman Hua Chunying said the US frequently takes national security protection as an "excuse"&nbsp;and sets up restrictions on China-US trade and investment in high technology.

"US blamed China for forcing American enterprises to transfer technologies. Then it also claimed that China's high technology development threats its security. In the end, I think this only exposes the US hegemonic mentality featuring 'no others can own it except me'," China's foreign office spokesman said.

In China, there was an outpouring of support for ZTE on its social media even as the local media put the blame on the country's reliance on foreign semiconductors.

"You live in China and you can see that products like iPhone can be seen everywhere. We don't regard this as threats. However in the US, if someone buys Huawei, for some Americans, this is very serious, even can threat the national security," Chunying said, adding,"as the superpower and scientific and technological power, is the US so vulnerable now?"'

The development has already made matters worse over trade issues after US president Donald Trump last month imposed tariffs worth $60 billion on Chinese imports.

China hit back with retaliatory tariffs on US soybeans, cars and airplanes, however, it is still unclear when it would be imposed with several experts on both sides of the view that the dispute will be settled on the bargaining table.

In China, there was outpouring of support for ZTE on its social media even as the local media put the blame on the country's reliance on foreign semiconductors.

After the US banned its companies to trade with China's ZTE Corporation for seven years citing that it broke settlement agreement with false statement, the Chinese government hit back saying the US was "suppressing" China's technological development under the "guise of national security." ZTE which is China's second largest telecom equipment maker said it regards compliance as the cornerstone of its strategy. "Refusal orders will not only seriously endanger the survival of ZTE, but also hurt the interests of all ZTE's partners including a large number of US companies," the company said in a statement. The Chinese foreign office spokesman Hua Chunying said the US frequently takes national security protection as an "excuse" and sets up restrictions on China-US trade and investment in high technology. "US blamed China for forcing American enterprises to transfer technologies. Then it also claimed that China's high technology development threats its security. In the end, I think this only exposes the US hegemonic mentality featuring 'no others can own it except me'," China's foreign office spokesman said. In China, there was an outpouring of support for ZTE on its social media even as the local media put the blame on the country's reliance on foreign semiconductors. "You live in China and you can see that products like iPhone can be seen everywhere. We don't regard this as threats. However in the US, if someone buys Huawei, for some Americans, this is very serious, even can threat the national security," Chunying said, adding,"as the superpower and scientific and technological power, is the US so vulnerable now?"' The development has already made matters worse over trade issues after US president Donald Trump last month imposed tariffs worth $60 billion on Chinese imports. China hit back with retaliatory tariffs on US soybeans, cars and airplanes, however, it is still unclear when it would be imposed with several experts on both sides of the view that the dispute will be settled on the bargaining table.

iPhone is everywhere but some Americans believe Huawei threat to national security: China

A day after a top<a href="http://www.wionews.com/world/us-china-in-phone-war-over-trade-international-monetary-fund-131179"> International Monetary Fund(IMF) official </a>said China, US were engaged in a phoney war over trade, the director of the world monetary body Christine Lagarde the dispute could threaten global confidence and investment.

In Pics: PM Modi meets a friendly&nbspneighbour, friends at CHOGM

"When investors do not know under what terms they will be trading, when they don't know how to organise their supply chain, they are reluctant to invest," director of IMF Christine Lagarde said.

In a report, the IMF had said tariffs or other barriers leading to a 10 per cent increase in import prices would lower global output by about 1.75 per cent after five years and by close to 2 per cent in the long term.

"The actual impact on growth is not very substantial, when you measure in terms of GDP," Lagarde said on&nbsptariffs, adding that the "erosion of confidence" would be worse.

However, even as China and US sparred over trade, Maurice Obstfeld, Economic Counsellor and Director of the Research Department at the IMF had said on Wednesday that both countries were engaged in a "phoney war"

"You know, at this point, although some warning shots have been fired, it is more of a phony war," Obstfeld had said.

Lagarde said the trade tensions would be a major topic of discussion among finance ministers and central bank governors at the IMF and World Bank meetings.

"My suspicion is that there will be many bilateral discussions to be had between the various parties involved," Lagarde said, adding that the issue would also be discussed in larger sessions involving the Fund's 189 member countries.

"Investment and trade are two key engines that are finally picking up. We don't want to damage that," Lagarde said. 
&nbsp

Lagarde said the trade tensions would be a major topic of discussion among finance ministers and central bank governors at the IMF and World Bank meetings.

A day after a top International Monetary Fund(IMF) official said China, US were engaged in a phoney war over trade, the director of the world monetary body Christine Lagarde the dispute could threaten global confidence and investment. In Pics: PM Modi meets a friendly&nbspneighbour, friends at CHOGM "When investors do not know under what terms they will be trading, when they don't know how to organise their supply chain, they are reluctant to invest," director of IMF Christine Lagarde said. In a report, the IMF had said tariffs or other barriers leading to a 10 per cent increase in import prices would lower global output by about 1.75 per cent after five years and by close to 2 per cent in the long term. "The actual impact on growth is not very substantial, when you measure in terms of GDP," Lagarde said on&nbsptariffs, adding that the "erosion of confidence" would be worse. However, even as China and US sparred over trade, Maurice Obstfeld, Economic Counsellor and Director of the Research Department at the IMF had said on Wednesday that both countries were engaged in a "phoney war" "You know, at this point, although some warning shots have been fired, it is more of a phony war," Obstfeld had said. Lagarde said the trade tensions would be a major topic of discussion among finance ministers and central bank governors at the IMF and World Bank meetings. "My suspicion is that there will be many bilateral discussions to be had between the various parties involved," Lagarde said, adding that the issue would also be discussed in larger sessions involving the Fund's 189 member countries. "Investment and trade are two key engines that are finally picking up. We don't want to damage that," Lagarde said.

China, US trade row could threaten global confidence, investment: Christine Lagarde

With China and the US locked in difficult trade relations with President Trump threatening an all-out trade war, the International Monetary Fund(IMF) said it more of a "phony" trade war.

Maurice Obstfeld, Economic Counsellor and Director of the Research Department at the IMF said," I am not sure anyone has a formal definition of a trade war. It is certainly the case that shots have been fired and negotiations are going on on a largely bilateral basis."

Trump has often lashed out at China for following "unfair trade practices" focussing on "trade imbalances" with the Communist state. Last month the US president imposed tariffs worth $60 billion on Chinese imports.

"You know, at this point, although some warning shots have been fired, it is more of a phony war," Obstfeld said.

"But, again, no formal definition. I think if we get into a cycle of very widespread actions and counteractions, we would begin to see significant economic effects, and that would be, whether you call it a trade war or not, would be very worrisome," Obstfeld observed.

China has insisted it does not want to get into a trade war, however, in retaliatory action it&nbsp;imposed tariffs of upto 25 per cent on 128 US products including frozen fruits and nuts.

"There are not going to be any winners coming out of a trade war," Obstfeld said.

"While some governments are, indeed, pursuing substantial economic reforms, trade disputes risk diverting others from the constructive steps they would need to take now to improve and secure growth prospects," he said.

Trump has often lashed out at China for following "unfair trade practices" focussing on "trade imbalances" with the Communist state.

With China and the US locked in difficult trade relations with President Trump threatening an all-out trade war, the International Monetary Fund(IMF) said it more of a "phony" trade war. Maurice Obstfeld, Economic Counsellor and Director of the Research Department at the IMF said," I am not sure anyone has a formal definition of a trade war. It is certainly the case that shots have been fired and negotiations are going on on a largely bilateral basis." Trump has often lashed out at China for following "unfair trade practices" focussing on "trade imbalances" with the Communist state. Last month the US president imposed tariffs worth $60 billion on Chinese imports. "You know, at this point, although some warning shots have been fired, it is more of a phony war," Obstfeld said. "But, again, no formal definition. I think if we get into a cycle of very widespread actions and counteractions, we would begin to see significant economic effects, and that would be, whether you call it a trade war or not, would be very worrisome," Obstfeld observed. China has insisted it does not want to get into a trade war, however, in retaliatory action it imposed tariffs of upto 25 per cent on 128 US products including frozen fruits and nuts. "There are not going to be any winners coming out of a trade war," Obstfeld said. "While some governments are, indeed, pursuing substantial economic reforms, trade disputes risk diverting others from the constructive steps they would need to take now to improve and secure growth prospects," he said.

US, China in 'phony war' over trade: International Monetary Fund

China's Ministry of Commerce (MOC) announced Tuesday that it will impose provisional anti-dumping measures on grain sorghum imported from the United States.

A preliminary ruling by the MOC found that US&nbspcompanies had dumped grain sorghum on the Chinese market, and such imports had caused substantial damage to the domestic industry.

Starting on Wednesday, importers of the product will be required to pay deposits with Chinese customs calculated based on a rate of 178.6 per cent, according to the ministry.

CHS Inc, Planter's Grain Co-operative, and JC Farms are among the 18 US&nbspcompanies on the list.

Data from the MOC showed US&nbspsorghum exports to China surged from 317,000 tonnes in 2013 to 4.76 million tonnes in 2017, while export prices have slumped 31 per cent during the period, which led to a fall in domestic prices that hurt local industries.

Wang Hejun, head of the ministry's trade remedy and investigation bureau, said the decision is in accordance with Chinese laws and WTO rules, and is aimed at correcting unfair practices to maintain a healthy trade order..

Data from the MOC showed US sorghum exports to China surged from 317,000 tonnes in 2013 to 4.76 million tonnes in 2017

China's Ministry of Commerce (MOC) announced Tuesday that it will impose provisional anti-dumping measures on grain sorghum imported from the United States. A preliminary ruling by the MOC found that US&nbspcompanies had dumped grain sorghum on the Chinese market, and such imports had caused substantial damage to the domestic industry. Starting on Wednesday, importers of the product will be required to pay deposits with Chinese customs calculated based on a rate of 178.6 per cent, according to the ministry. CHS Inc, Planter's Grain Co-operative, and JC Farms are among the 18 US&nbspcompanies on the list. Data from the MOC showed US&nbspsorghum exports to China surged from 317,000 tonnes in 2013 to 4.76 million tonnes in 2017, while export prices have slumped 31 per cent during the period, which led to a fall in domestic prices that hurt local industries. Wang Hejun, head of the ministry's trade remedy and investigation bureau, said the decision is in accordance with Chinese laws and WTO rules, and is aimed at correcting unfair practices to maintain a healthy trade order..

China imposes anti-dumping measures against US sorghum

China's exports growth unexpectedly fell in March, the first drop since February last year, raising questions about the health of one of the economy's key growth drivers even as trade tensions rapidly escalate with the United States.

March import growth beat expectations, however, suggesting its domestic demand may still be solid enough to cushion the blow from any trade shocks. That left China with a rare trade deficit for the month, also the first drop since last February.

The latest readings on the health of China's trade sector follow weeks of tit-for-tat tariff threats by Washington and Beijing, sparked by US&nbspfrustration with China's massive bilateral trade surplus and intellectual property policies, that have fueled fears of a global trade war.

China's March exports fell 2.7 percent from a year earlier, lagging analysts' forecasts for a 10.0 per cent increase, and down from a sharper-than-expected 44.5 per cent jump in February, which economists believe was heavily distorted by seasonal factors.

For the first quarter as a whole, however, exports still grew a hearty 14.1 per cent.

Some analysts had expected a pullback in March exports following an unusually strong start to the year, when firms stepped up shipments before the long Lunar New Year holiday in mid-February. That scenario did not alter their view that global demand remains robust.

But a stronger currency could also be starting to erode Chinese exporters' competitiveness. The yuan appreciated around 3.7 per cent against the US&nbspdollar in the first quarter this year, on top of a 6.6 per cent gain last year.

No hard timeline has been set by either Washington or Beijing for the actual imposition of tariffs, which leaves the door open to negotiations and a possible compromise which could limit the damage to both sides and other trade-reliant economies.

But analysts said the trade threats may already be having an impact on exporters' activity.

With the threat of tariffs hanging over nearly a third of China's exports to the United States, economists at Nomura say its companies may have front-loaded shipments early this year before any measures kick in.

China's exports to the US&nbsprose 14.8 per cent in the first quarter from a year earlier, while imports rose 8.9 per cent.

That sent its quarterly trade surplus with the US&nbspsurging 19.4 per cent to $58.25 billion, though the March reading narrowed to $15.43 billion from $20.96 billion in February.

China's total aluminium exports in March rose to their highest since June, just as the United States imposed tariffs on imports of the metal and steel on March 23.

"We believe export growth will slow due to yuan appreciation and rising trade tensions. But the solid global growth outlook may provide some buffer. China’s import could be more resilient than export growth in our view as China has pledged to increase imports," said Lisheng Wang, an economist at Nomura in Hong Kong.

China's overall March imports grew 14.4 per cent from a year ago, beating analysts' forecast for 10.0 per cent growth, and compared with 6.3 per cent growth in February.

That produced a trade deficit of $4.98 billion for the month, but such shortfalls are not uncommon for China early in the year, likely due to seasonal factors.

For Jan-March, imports rose a strong 18.9 per cent on-year.

Analysts expected China would record a trade surplus of $27.21 billion for last month, from February's surplus of $33.75 billion.

Imports of commodities continued to lead the way in March, with shipments of copper, crude oil, iron ore and soybeans all rising from the previous month.

China's exports rode a global trade boom last year, expanding at the fastest pace since 2013 and serving as one of the key drivers behind the economy's forecast-beating expansion.

But the sudden spike in trade tensions with the United States is clouding the outlook for both China's "old economy" heavy industries and "new economy" tech firms.

Washington says China's $375 billion trade surplus with the United States is unacceptable, and has demanded Beijing reduce it by $100 billion immediately.

In a move to further force China to lower the billions of goods trade surplus running with the US, Trump unveiled tariff representing about $50 billion of technology, transport and medical products early this month, drawing an immediate threat of retaliatory action from Beijing.

China's tech sector, which is key part of Beijing's longer-term "Made in China 2025" strategy to move from cheap goods to higher-value manufacturing, may be particularly vulnerable.

Hi-tech products have been among its fastest growing export segments. China exported $137.8 billion worth of high-tech products in the first quarter, up 20.5 per cent on-year.

March import growth beat expectations, however, suggesting its domestic demand may still be solid enough to cushion the blow from any trade shocks.

China's exports growth unexpectedly fell in March, the first drop since February last year, raising questions about the health of one of the economy's key growth drivers even as trade tensions rapidly escalate with the United States. March import growth beat expectations, however, suggesting its domestic demand may still be solid enough to cushion the blow from any trade shocks. That left China with a rare trade deficit for the month, also the first drop since last February. The latest readings on the health of China's trade sector follow weeks of tit-for-tat tariff threats by Washington and Beijing, sparked by US&nbspfrustration with China's massive bilateral trade surplus and intellectual property policies, that have fueled fears of a global trade war. China's March exports fell 2.7 percent from a year earlier, lagging analysts' forecasts for a 10.0 per cent increase, and down from a sharper-than-expected 44.5 per cent jump in February, which economists believe was heavily distorted by seasonal factors. For the first quarter as a whole, however, exports still grew a hearty 14.1 per cent. Some analysts had expected a pullback in March exports following an unusually strong start to the year, when firms stepped up shipments before the long Lunar New Year holiday in mid-February. That scenario did not alter their view that global demand remains robust. But a stronger currency could also be starting to erode Chinese exporters' competitiveness. The yuan appreciated around 3.7 per cent against the US&nbspdollar in the first quarter this year, on top of a 6.6 per cent gain last year. No hard timeline has been set by either Washington or Beijing for the actual imposition of tariffs, which leaves the door open to negotiations and a possible compromise which could limit the damage to both sides and other trade-reliant economies. But analysts said the trade threats may already be having an impact on exporters' activity. With the threat of tariffs hanging over nearly a third of China's exports to the United States, economists at Nomura say its companies may have front-loaded shipments early this year before any measures kick in. China's exports to the US&nbsprose 14.8 per cent in the first quarter from a year earlier, while imports rose 8.9 per cent. That sent its quarterly trade surplus with the US&nbspsurging 19.4 per cent to $58.25 billion, though the March reading narrowed to $15.43 billion from $20.96 billion in February. China's total aluminium exports in March rose to their highest since June, just as the United States imposed tariffs on imports of the metal and steel on March 23. "We believe export growth will slow due to yuan appreciation and rising trade tensions. But the solid global growth outlook may provide some buffer. China’s import could be more resilient than export growth in our view as China has pledged to increase imports," said Lisheng Wang, an economist at Nomura in Hong Kong. China's overall March imports grew 14.4 per cent from a year ago, beating analysts' forecast for 10.0 per cent growth, and compared with 6.3 per cent growth in February. That produced a trade deficit of $4.98 billion for the month, but such shortfalls are not uncommon for China early in the year, likely due to seasonal factors. For Jan-March, imports rose a strong 18.9 per cent on-year. Analysts expected China would record a trade surplus of $27.21 billion for last month, from February's surplus of $33.75 billion. Imports of commodities continued to lead the way in March, with shipments of copper, crude oil, iron ore and soybeans all rising from the previous month. China's exports rode a global trade boom last year, expanding at the fastest pace since 2013 and serving as one of the key drivers behind the economy's forecast-beating expansion. But the sudden spike in trade tensions with the United States is clouding the outlook for both China's "old economy" heavy industries and "new economy" tech firms. Washington says China's $375 billion trade surplus with the United States is unacceptable, and has demanded Beijing reduce it by $100 billion immediately. In a move to further force China to lower the billions of goods trade surplus running with the US, Trump unveiled tariff representing about $50 billion of technology, transport and medical products early this month, drawing an immediate threat of retaliatory action from Beijing. China's tech sector, which is key part of Beijing's longer-term "Made in China 2025" strategy to move from cheap goods to higher-value manufacturing, may be particularly vulnerable. Hi-tech products have been among its fastest growing export segments. China exported $137.8 billion worth of high-tech products in the first quarter, up 20.5 per cent on-year.

China's first-quarter trade surplus with US surge

Even as the world braces for a trade war between the US and China, President Xi at a forum in Hainan province said he is ready to open China's economy further.

Xi said China would raise foreign ownership limit in the automobile sector "as soon as possible".&nbsp;

On Sunday, US president Trump had taken to Twitter to highlight the imbalance of trade between China and the US while targeting tariffs on auto imports. The US president termed China's auto policy as &nbsp;"stupid trade".

"This year, we will considerably reduce auto import tariffs, and at the same time reduce import tariffs on some other products," Xi informed the delegates at the forum.

"When a car is sent to the United States from China, there is a tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a tariff to be paid of 25%. Does that sound like a free or fair trade? No, it sounds like stupid trade - going on for years!" President Trump had tweeted.

The Chinese president added that the country will ensure wider access to foreign investors and speed up opening up of the insurance sector.

"Economic globalisation is an irreversible trend of the time," Xi said, adding, "the door of China's opening up will not close, it will only open wider and wider."

The US and China have been imposing trade tariffs on each other after President Trump last month announced import tariff worth $60 billion on Chinese goods entering the US.

On Monday, China had said trade talks with the United States was "impossible" under current conditions after President Donald Trump reassured markets by suggesting that the dispute could be resolved.

On Sunday, US president Trump had taken to Twitter to highlight the imbalance of trade between China and the US while targeting tariffs on auto imports.

Even as the world braces for a trade war between the US and China, President Xi at a forum in Hainan province said he is ready to open China's economy further. Xi said China would raise foreign ownership limit in the automobile sector "as soon as possible". On Sunday, US president Trump had taken to Twitter to highlight the imbalance of trade between China and the US while targeting tariffs on auto imports. The US president termed China's auto policy as "stupid trade". "This year, we will considerably reduce auto import tariffs, and at the same time reduce import tariffs on some other products," Xi informed the delegates at the forum. "When a car is sent to the United States from China, there is a tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a tariff to be paid of 25%. Does that sound like a free or fair trade? No, it sounds like stupid trade - going on for years!" President Trump had tweeted. The Chinese president added that the country will ensure wider access to foreign investors and speed up opening up of the insurance sector. "Economic globalisation is an irreversible trend of the time," Xi said, adding, "the door of China's opening up will not close, it will only open wider and wider." The US and China have been imposing trade tariffs on each other after President Trump last month announced import tariff worth $60 billion on Chinese goods entering the US. On Monday, China had said trade talks with the United States was "impossible" under current conditions after President Donald Trump reassured markets by suggesting that the dispute could be resolved.

Amid looming trade war with US, President Xi promises to open China's auto, insurance sector

After China said it would impose retaliatory tariffs on US goods, President Trump hit back at Xi's regime warning another round of tough tariffs of upto $100 billion on Beijing.

China had recently announced it would impose heavy tariffs of upto 25 per cent on US-made soybeans, cars and small airplanes as the trade war between the two economic giants began to take a turn for the worse.

"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers," Trump said.

A defiant China went a step further and informed the World Trade Organization(WTO) on its latest move.

"In light of China's unfair retaliation," Trump said he had instructed trade officials to "consider whether $100 billion of additional tariffs would be appropriate."

Earlier, in a bid to cool nerves Trump had said "we are not in a trade war with China" while justifying his move but continued to accuse the regime of "intellectual property theft" and fueling a "trade deficit of $500 billion a year."

The start date of Chinese tariffs on US goods is still unknown.

<iframe allow="autoplay encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/IiLP-eApzI8" width="560"></iframe>

China had recently announced it would impose heavy tariffs of upto 25 per cent on US-made soybeans, cars and small airplanes

After China said it would impose retaliatory tariffs on US goods, President Trump hit back at Xi's regime warning another round of tough tariffs of upto $100 billion on Beijing. China had recently announced it would impose heavy tariffs of upto 25 per cent on US-made soybeans, cars and small airplanes as the trade war between the two economic giants began to take a turn for the worse. "Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers," Trump said. A defiant China went a step further and informed the World Trade Organization(WTO) on its latest move. "In light of China's unfair retaliation," Trump said he had instructed trade officials to "consider whether $100 billion of additional tariffs would be appropriate." Earlier, in a bid to cool nerves Trump had said "we are not in a trade war with China" while justifying his move but continued to accuse the regime of "intellectual property theft" and fueling a "trade deficit of $500 billion a year." The start date of Chinese tariffs on US goods is still unknown.

Trump threatens to impose tariffs worth $100 billion on China

China's foreign minister on Thursday called on the international community to oppose the United States' recent trade moves, saying they threatened global economic growth.

Addressing a news conference in Moscow, Wang Yi condemned a move by President Donald Trump's administration to slap tariffs on a list of Chinese goods and said the world should stand up to Washington over what he called its unilateral moves.

"The world community must together resist these sorts of unilateral actions and breaking of the rules, must jointly push for global economic growth and together help bring some common sense to those who think they can do anything they like," he said.

If the United States believes it could benefit from protectionism it is making a mistake, he said after meeting with his Russian counterpart Sergei Lavrov.

"If the US is using the sanctions stick, then they've got the wrong idea," Wang Yi said.

An escalating confrontation between Washington and Beijing has been inching closer to an all-out trade war since China on Wednesday threatened retaliation against key US exports over looming US tariffs on more than 1,000 Chinese goods.

"Our counter-measures were necessary and sufficient," Wang Yi said, adding they were "a legitimate defence of our interests and our rights".

China's Foreign Minister Wang Yi called on the international community to oppose the United States' recent trade moves, saying they threatened global economic growth

China's foreign minister on Thursday called on the international community to oppose the United States' recent trade moves, saying they threatened global economic growth. Addressing a news conference in Moscow, Wang Yi condemned a move by President Donald Trump's administration to slap tariffs on a list of Chinese goods and said the world should stand up to Washington over what he called its unilateral moves. "The world community must together resist these sorts of unilateral actions and breaking of the rules, must jointly push for global economic growth and together help bring some common sense to those who think they can do anything they like," he said. If the United States believes it could benefit from protectionism it is making a mistake, he said after meeting with his Russian counterpart Sergei Lavrov. "If the US is using the sanctions stick, then they've got the wrong idea," Wang Yi said. An escalating confrontation between Washington and Beijing has been inching closer to an all-out trade war since China on Wednesday threatened retaliation against key US exports over looming US tariffs on more than 1,000 Chinese goods. "Our counter-measures were necessary and sufficient," Wang Yi said, adding they were "a legitimate defence of our interests and our rights".

China calls on world to stand up to US over trade

In a move which could trigger an all-out trade war, China today said it will retaliate against US move to impose tariffs while condemning President Trump's measure to impose tariffs on worth $50 billion on Chinese goods.

China has notified the WTO(World Trade Organization) of imposing $611.5 million in retaliatory tariffs on $2.75 billion worth of US imports including pork, nuts and ethanol.

According to news reports, China has now fulfilled its legal duty of notifying the WTO after it had decided to impose tariffs a few days back.&nbsp

Last month President Trump had imposed tariffs worth $50 billion on Chinese goods entering the US, including 25 per cent tariffs on steel and aluminium.

The Chinese Finance Ministry said the US violated WTO regulations while adding that "China advocates and supports a multilateral trade system."

Meanwhile, the United States on Tuesday announced a "proposed list"&nbspof products imported from China that could be subject to additional tariffs of 25 per cent.

Sectors subject to the proposed tariffs include industries in&nbspaerospace, information and communication technology, robotics&nbspand machinery.

The total value of imports subject to the tariff increase is commensurate with an economic analysis of the harm caused by China's unreasonable technology transfer policies to the US economy, the US Trade Representative(USTR) said.

"We have a problem with China. They've created a trade deficit, and I really blame our representatives and, frankly, our preceding presidents for this. They have a trade deficit of $500 billion a year. It's not something we can live with," Trump told reporters during a media interaction with visiting Baltic leaders.

The theft of intellectual property alone, he said, is probably around $200-300 billion a year.

&nbsp

The Chinese Finance Ministry said the US violated WTO regulations while adding that "China advocates and supports a multilateral trade system."

In a move which could trigger an all-out trade war, China today said it will retaliate against US move to impose tariffs while condemning President Trump's measure to impose tariffs on worth $50 billion on Chinese goods. China has notified the WTO(World Trade Organization) of imposing $611.5 million in retaliatory tariffs on $2.75 billion worth of US imports including pork, nuts and ethanol. According to news reports, China has now fulfilled its legal duty of notifying the WTO after it had decided to impose tariffs a few days back. Last month President Trump had imposed tariffs worth $50 billion on Chinese goods entering the US, including 25 per cent tariffs on steel and aluminium. The Chinese Finance Ministry said the US violated WTO regulations while adding that "China advocates and supports a multilateral trade system." Meanwhile, the United States on Tuesday announced a "proposed list"&nbspof products imported from China that could be subject to additional tariffs of 25 per cent. Sectors subject to the proposed tariffs include industries in&nbspaerospace, information and communication technology, robotics&nbspand machinery. The total value of imports subject to the tariff increase is commensurate with an economic analysis of the harm caused by China's unreasonable technology transfer policies to the US economy, the US Trade Representative(USTR) said. "We have a problem with China. They've created a trade deficit, and I really blame our representatives and, frankly, our preceding presidents for this. They have a trade deficit of $500 billion a year. It's not something we can live with," Trump told reporters during a media interaction with visiting Baltic leaders. The theft of intellectual property alone, he said, is probably around $200-300 billion a year.

Ready to retaliate against US tariff plan: China

China on Wednesday announced plans to hit the United States with new tariffs of 25 percent on soybeans, airplanes, cars and other imports worth $50 billion, hours after Washington unveiled its own target list.

China's commerce ministry listed 106 products that will be targeted and said a date for the implementation of the tariffs would be announced separately.

China's latest tariff hike announcement comes after US escalated the trade war between two superpowers by&nbsp;proposing 25 percent tariffs on $50 billion in Chinese imports.&nbsp;

The Trump administration on Tuesday escalated its aggressive actions on trade by proposing 25 percent tariffs on $50 billion in Chinese imports to protest Beijing’s alleged theft of American technology.

The Office of the U.S. Trade Representative issued a list targeting 1,300 Chinese products, including industrial robots and telecommunications equipment. The suggested tariffs wouldn’t take effect right way: A public comment period will last until May 11, and a hearing on the tariffs is set for May 15. Companies and consumers will have the opportunity to lobby to have some products taken off the list or have others added.

(With AFP inputs)

&nbsp;

China announced Wednesday plans to hit the United States with new tariffs of 25 percent on soybeans, airplanes, cars and other imports worth $50 billion, hours after Washington unveiled its own target list.

China on Wednesday announced plans to hit the United States with new tariffs of 25 percent on soybeans, airplanes, cars and other imports worth $50 billion, hours after Washington unveiled its own target list. China's commerce ministry listed 106 products that will be targeted and said a date for the implementation of the tariffs would be announced separately. China's latest tariff hike announcement comes after US escalated the trade war between two superpowers by proposing 25 percent tariffs on $50 billion in Chinese imports. The Trump administration on Tuesday escalated its aggressive actions on trade by proposing 25 percent tariffs on $50 billion in Chinese imports to protest Beijing’s alleged theft of American technology. The Office of the U.S. Trade Representative issued a list targeting 1,300 Chinese products, including industrial robots and telecommunications equipment. The suggested tariffs wouldn’t take effect right way: A public comment period will last until May 11, and a hearing on the tariffs is set for May 15. Companies and consumers will have the opportunity to lobby to have some products taken off the list or have others added. (With AFP inputs)

China retaliates with tariff hike on $50 billion of US goods including soybeans, aircraft, autos

China will import $8 billion of goods and attract $600 billion of foreign investment in the next five years, foreign minister Wang Yi said on Friday.

China's overseas investment will reach $750 billion in the next five years, the foreign ministry said in a statement on its website, citing Wang at a conference in Vietnam.

Wang said China would widen market access and open up its financial sector.

The practices of unilateralism and protectionism would be a form of regression, and not only would they lead to a dead end, they would damage one's own interests, he said.

Wang said China would widen market access and open up its financial sector.

China will import $8 billion of goods and attract $600 billion of foreign investment in the next five years, foreign minister Wang Yi said on Friday. China's overseas investment will reach $750 billion in the next five years, the foreign ministry said in a statement on its website, citing Wang at a conference in Vietnam. Wang said China would widen market access and open up its financial sector. The practices of unilateralism and protectionism would be a form of regression, and not only would they lead to a dead end, they would damage one's own interests, he said.

China to import goods worth $8 billion in next five years: Foreign minister Wang Yi

Apex trade association Assocham on Sunday said that if the tariff war between the United States and China escalates into a full-scale global trade war, it would have a collateral damage for the Indian economy as well.

The country's exports will take a hit, the current account deficit will face pressure, and the Gross Domestic Product (GDP) will take a setback.

"Instead of de-escalating, the trade tensions between the US and China with the fall out impact on other trading majors, have only escalated spooking the global financial markets. The tensions in the market look quite justified, as the Trump move to levy tariff on trading partners could lead to a further retaliation against the US . Though India may not get much of a direct impact, the collateral damage could be in the form of adverse impact on the overall sentiment," the chamber said.

Assocham secretary general D S Rawat said, even if India chooses to take a responsive action on its imports, the impact on "our exports could be more even as the volatility in the foreign exchange rates would also rise".

He said, "we must have a backup plan which should include opening bilateral trade with key trading partners, taking precaution that we remain World Trade Organisation (WTO) compliant".

In case the market confidence is further eroded, there would be outflow of portfolio investment taking a toll on the dollar rates.

Besides, as the US dollar is used as a safe haven in the midst of global uncertainties, its increased demand would put pressure on the Indian currency along with those of the other currencies of the emerging markets.

"It is no more a scenario where it was considered only a threat. The US administration has started signing the orders on tariff revision and other protective measures. In the process, the influence of multilateral organisations like the World Trade Organisation is also on the wane. When countries get into this kind of a slugfest, the multilateral regime takes a big knock," the chamber said.

However, the chamber complimented the Indian government for taking an initiative to host a meeting of over 50 ministers under the aegis of the WTO for espousing the cause of open trade.

United States President Donald Trump on Thursday imposed massive trade tariffs amounting to USD 60 billion on China.

Terming Beijing as its efforts to steal 'intellectual property' from American companies, President Trump signed a memorandum directing the Office of the US Trade Representative (USTR) and the US Treasury Department to launch a 'broad range of actions' against China.

During an event at the White House, Trump said that imposing tariffs on China is "going to make the US a much stronger and a much richer nation".

The US President called China as a "friend" but demanded that Beijing should adopt more favourable trade practices with Washington D.C.

The US President alleged that China had been indulging in tremendous intellectual property theft worth hundreds of billions of dollars on a yearly basis.

In case the market confidence is further eroded, there would be outflow of portfolio investment taking a toll on the dollar rates

Apex trade association Assocham on Sunday said that if the tariff war between the United States and China escalates into a full-scale global trade war, it would have a collateral damage for the Indian economy as well. The country's exports will take a hit, the current account deficit will face pressure, and the Gross Domestic Product (GDP) will take a setback. "Instead of de-escalating, the trade tensions between the US and China with the fall out impact on other trading majors, have only escalated spooking the global financial markets. The tensions in the market look quite justified, as the Trump move to levy tariff on trading partners could lead to a further retaliation against the US . Though India may not get much of a direct impact, the collateral damage could be in the form of adverse impact on the overall sentiment," the chamber said. Assocham secretary general D S Rawat said, even if India chooses to take a responsive action on its imports, the impact on "our exports could be more even as the volatility in the foreign exchange rates would also rise". He said, "we must have a backup plan which should include opening bilateral trade with key trading partners, taking precaution that we remain World Trade Organisation (WTO) compliant". In case the market confidence is further eroded, there would be outflow of portfolio investment taking a toll on the dollar rates. Besides, as the US dollar is used as a safe haven in the midst of global uncertainties, its increased demand would put pressure on the Indian currency along with those of the other currencies of the emerging markets. "It is no more a scenario where it was considered only a threat. The US administration has started signing the orders on tariff revision and other protective measures. In the process, the influence of multilateral organisations like the World Trade Organisation is also on the wane. When countries get into this kind of a slugfest, the multilateral regime takes a big knock," the chamber said. However, the chamber complimented the Indian government for taking an initiative to host a meeting of over 50 ministers under the aegis of the WTO for espousing the cause of open trade. United States President Donald Trump on Thursday imposed massive trade tariffs amounting to USD 60 billion on China. Terming Beijing as its efforts to steal 'intellectual property' from American companies, President Trump signed a memorandum directing the Office of the US Trade Representative (USTR) and the US Treasury Department to launch a 'broad range of actions' against China. During an event at the White House, Trump said that imposing tariffs on China is "going to make the US a much stronger and a much richer nation". The US President called China as a "friend" but demanded that Beijing should adopt more favourable trade practices with Washington D.C. The US President alleged that China had been indulging in tremendous intellectual property theft worth hundreds of billions of dollars on a yearly basis.

China-US trade war can lead to collateral damage in India: Assocham

Apple Inc&#39;s Chief Executive Tim Cook on Saturday called for &quot;calm heads&quot; and more open trade, amid rising fears of a trade war between the United States and China.

Trade tension between China and the United States flared this week when President Donald Trump unveiled plans on Thursday to slap tariffs on potentially up to $60 billion in Chinese goods.

China&#39;s Commerce Ministry on Friday urged the United States to &quot;pull back from the brink&quot;, saying it was not afraid to engage in a trade war.

&quot;I&#39;m cognizant that in both the U.S. and China, there have been cases where everyone hasn&#39;t benefited, where the benefit hasn&#39;t been balanced,&quot; Cook said.

Speaking at the annual China Development Forum in Beijing, Cook said he hoped &quot;calm heads&quot; would prevail.

The sparring has cast a spotlight on hardware makers such as Apple, which assemble the majority of their products in China for export to other countries. Electrical goods and tech are the largest U.S. import item from China.

In the past year, Apple and other foreign tech firms have grappled with a string of new regulatory requirements in China, including a controversial law requiring firms to house user data in data centers overseen by Chinese firms.

Last month, Apple officially moved to store keys for its iCloud data in China, provoking intense criticism from rights groups who say the decision makes it easier for Chinese officials to tap and collect private data.

Despite challenges, the company has sought to expand its services in China, its third-largest market, where roughly 1.8 million developers use its platform.

&quot;My belief is that businesses should be engaged with governments in countries where they are doing business, whether they agree or disagree,&quot; Cook said.

Cook has come to China several times in the past year, and was among executives who met Chinese President Xi Jinping last October.

&quot;My belief is that one plus one equals three. The pie gets larger, working together,&quot; Cook said.

Others attending the three-day forum include the chief executives of IBM Group , Google Inc and Qualcomm Inc.

Cook, who this year co-chaired the event, also attended last year when he called for China to increase trade and continue opening itself up to the world.

Cook was speaking to reporters on the sidelines of the annual China Development Forum in Beijing.

Apple Inc's Chief Executive Tim Cook on Saturday called for "calm heads" and more open trade, amid rising fears of a trade war between the United States and China. Trade tension between China and the United States flared this week when President Donald Trump unveiled plans on Thursday to slap tariffs on potentially up to $60 billion in Chinese goods. China's Commerce Ministry on Friday urged the United States to "pull back from the brink", saying it was not afraid to engage in a trade war. "I'm cognizant that in both the U.S. and China, there have been cases where everyone hasn't benefited, where the benefit hasn't been balanced," Cook said. Speaking at the annual China Development Forum in Beijing, Cook said he hoped "calm heads" would prevail. The sparring has cast a spotlight on hardware makers such as Apple, which assemble the majority of their products in China for export to other countries. Electrical goods and tech are the largest U.S. import item from China. In the past year, Apple and other foreign tech firms have grappled with a string of new regulatory requirements in China, including a controversial law requiring firms to house user data in data centers overseen by Chinese firms. Last month, Apple officially moved to store keys for its iCloud data in China, provoking intense criticism from rights groups who say the decision makes it easier for Chinese officials to tap and collect private data. Despite challenges, the company has sought to expand its services in China, its third-largest market, where roughly 1.8 million developers use its platform. "My belief is that businesses should be engaged with governments in countries where they are doing business, whether they agree or disagree," Cook said. Cook has come to China several times in the past year, and was among executives who met Chinese President Xi Jinping last October. "My belief is that one plus one equals three. The pie gets larger, working together," Cook said. Others attending the three-day forum include the chief executives of IBM Group , Google Inc and Qualcomm Inc. Cook, who this year co-chaired the event, also attended last year when he called for China to increase trade and continue opening itself up to the world.

Apple CEO calls for 'calm heads' and open trade, amid fears of US, China trade war

America&#39;s massive trade deficit with China is estimated to have resulted in about two million job losses in the US, the White House has said, defending President Donald Trump&#39;s decision to initiate strong actions against China&#39;s &quot;unfair&quot; trade practices.

Trump imposed tariffs on about $60 billion worth of Chinese imports to punish the country for its &quot;unfair&quot; seizure of American intellectual property, a move that could escalate the already tense trade relations between the world&#39;s two biggest economies.

The move came after a seven-month investigation into the intellectual property theft, which has been a longstanding point of contention in US-China trade relations.

China also announced retaliatory measures against the US.

A senior administration official told reporters: &quot;By some calculations, every billion dollar of trade deficit that arises from market-distorted policies, costs us about 6,000 jobs. A very conservative calculation, by some estimates, is that trade deficit results in about two million more jobs in China and two million less here. This is a serious problem that the US side is keenly aware of&quot;.

China&#39;s &quot;unfair&quot; trade practices have resulted in a goods trade deficit of $370 billion, the official said.

The Trump administration said that it is for China to decide what course it wants to take.

&quot;The point here is that China will have a choice as to how to respond, and they have benefited far more from this relationship than we have. We will certainly take that into account,&quot; the official said.

The typical American corporation that wants to go to China and sell its goods into the Chinese market is on the horns of a dilemma.

Responding to questions, the official said the concerns with Chinese economic practices are widespread throughout the United States and around the world.

&quot;We have heard from many of our trading partners that they share many of these concerns,&quot; the official said.

Another administration official said China benefits far more from the US-China trade relationship than the US does.

Since 2001, when China joined the World Trade Organisation, its economy has grown from $1 trillion of GDP to $12 trillion; roughly an 800 per cent growth rate.

&quot;During the same period of time, the American economy sputtered. It went from an annual growth rate of about 3.5 per cent between 1947 and 2000, down to around two per cent, which everybody wanted to say was the new normal for America. But the contrast between China&#39;s growth and its unfair trade practices, and what had happened to the US in terms of growth and wage growth, is quite startling,&quot; the official said.

Later State Department Spokesperson Heather Nauert said Trump has been very clear from the first day on the campaign trail, longstanding concerns that he has and administration-wide people have, with China&#39;s &quot;unfair&quot; trade practices.

&quot;It&#39;s natural for us to have to address things that we don&#39;t agree on. One of them is certainly trade. The President has fought very hard for advancing opportunities, economic opportunities for American businesses, but also the American people,&quot; she said.

Senate Finance Committee Ranking Member Ron Wyden welcomed the decision.

&quot;China has cheated, stolen and bullied American industry on trade for decades, causing massive economic wreckage to workers, employers and communities across America in the process. Our country must stand up against China&#39;s trade blackmail, so I am encouraged that the administration is focused on protecting the technologies that China publicly targeted,&quot; Wyden said.

Senator Sherrod Brown welcomed the news that the Trump administration is taking steps to launch crackdown on China&#39;s violation of intellectual property laws.

Business Roundtable said unilaterally imposing tariffs or other restrictions without a long-term strategy to bring about reforms in China will only raise prices in America, make American companies and products less competitive, and harm US workers and consumers.

&quot;The administration should instead pursue a comprehensive approach centred around several strategic priorities. This includes working closely with our international partners to identify unfair trade barriers and practices that China must remove, setting deadlines for such reforms and outlining actions that the US will take if those reforms are not undertaken,&quot; it said.

China's "unfair" trade practices have resulted in a goods trade deficit of $370 billion, the official said

America's massive trade deficit with China is estimated to have resulted in about two million job losses in the US, the White House has said, defending President Donald Trump's decision to initiate strong actions against China's "unfair" trade practices. Trump imposed tariffs on about $60 billion worth of Chinese imports to punish the country for its "unfair" seizure of American intellectual property, a move that could escalate the already tense trade relations between the world's two biggest economies. The move came after a seven-month investigation into the intellectual property theft, which has been a longstanding point of contention in US-China trade relations. China also announced retaliatory measures against the US. A senior administration official told reporters: "By some calculations, every billion dollar of trade deficit that arises from market-distorted policies, costs us about 6,000 jobs. A very conservative calculation, by some estimates, is that trade deficit results in about two million more jobs in China and two million less here. This is a serious problem that the US side is keenly aware of". China's "unfair" trade practices have resulted in a goods trade deficit of $370 billion, the official said. The Trump administration said that it is for China to decide what course it wants to take. "The point here is that China will have a choice as to how to respond, and they have benefited far more from this relationship than we have. We will certainly take that into account," the official said. The typical American corporation that wants to go to China and sell its goods into the Chinese market is on the horns of a dilemma. Responding to questions, the official said the concerns with Chinese economic practices are widespread throughout the United States and around the world. "We have heard from many of our trading partners that they share many of these concerns," the official said. Another administration official said China benefits far more from the US-China trade relationship than the US does. Since 2001, when China joined the World Trade Organisation, its economy has grown from $1 trillion of GDP to $12 trillion; roughly an 800 per cent growth rate. "During the same period of time, the American economy sputtered. It went from an annual growth rate of about 3.5 per cent between 1947 and 2000, down to around two per cent, which everybody wanted to say was the new normal for America. But the contrast between China's growth and its unfair trade practices, and what had happened to the US in terms of growth and wage growth, is quite startling," the official said. Later State Department Spokesperson Heather Nauert said Trump has been very clear from the first day on the campaign trail, longstanding concerns that he has and administration-wide people have, with China's "unfair" trade practices. "It's natural for us to have to address things that we don't agree on. One of them is certainly trade. The President has fought very hard for advancing opportunities, economic opportunities for American businesses, but also the American people," she said. Senate Finance Committee Ranking Member Ron Wyden welcomed the decision. "China has cheated, stolen and bullied American industry on trade for decades, causing massive economic wreckage to workers, employers and communities across America in the process. Our country must stand up against China's trade blackmail, so I am encouraged that the administration is focused on protecting the technologies that China publicly targeted," Wyden said. Senator Sherrod Brown welcomed the news that the Trump administration is taking steps to launch crackdown on China's violation of intellectual property laws. Business Roundtable said unilaterally imposing tariffs or other restrictions without a long-term strategy to bring about reforms in China will only raise prices in America, make American companies and products less competitive, and harm US workers and consumers. "The administration should instead pursue a comprehensive approach centred around several strategic priorities. This includes working closely with our international partners to identify unfair trade barriers and practices that China must remove, setting deadlines for such reforms and outlining actions that the US will take if those reforms are not undertaken," it said.

Trade deficit with China costs 2 million jobs to US: White House

Chinese Ambassador to the United States Cui Tiankai said Thursday China would fight to the end to defend its own legitimate interests with all necessary measures if the US really wants to start a trade war.

Cui said China does not want to have a trade war with the United States or with anybody else, but China is not afraid of and will not recoil from one if somebody imposes a trade war on it.

Cui&#39;s remarks came after US President Donald Trump on Thursday signed a memorandum that could impose tariffs on up to 60 billion US dollars of imports from China, the latest unilateral move that poses a threat to global trade.

&quot;As far as a possible trade war is concerned, we never wanted to start, but if somebody imposed a trade war on us, will fight to the end. As for the overall China-US relationship, we always believe that the right approach is to base ourselves on better mutual respect and expand our cooperation, manage possible differences in a constructive way, and achieve a win-win outcome. We still follow this approach, and we hope there will be reciprocity on the US side,&quot; said Cui in the interview with China Global Television Network (CGTN).

Trump has directed US Trade Representative Robert Lighthizer to publish a list of proposed Chinese goods that could be subject to tariffs in 15 days, while the US Treasury Department will have 60 days to propose restrictions on Chinese investment in the United States, according to the presidential memorandum.

The tariffs &quot;could be about 60 billion&quot; dollars, Trump said on Thursday at the White House before signing the memorandum.&nbsp;

But a senior White House official told reporters earlier in the day that the number would be close to 50 billion dollars.

The memorandum is based on a so-called Section 301 investigation into alleged Chinese intellectual property and technology transfer practices, launched by the Trump administration in August 2017.

The ambassador said the US accusations are totally groundless and called them a form of discrimination, noting that China always encourages innovation and that Chinese people are capable of immense innovation.

&quot;I think such accusations are totally groundless. China encourages innovation. Chinese laws protect intellectual property rights. This applies to Chinese companies and American companies and other companies alike. We will do our utmost to make sure that intellectual property rights are protected, whether they are from Chinese companies or American companies. At the same time, I hope people here would understand or would realize, people in China and people in other developing countries are also fully capable of innovation. They should not believe that they have a monopoly over innovation, and everybody else is just stealing from them. I think this is a kind of discrimination,&quot; Cui said.

The Chinese ambassador believes the nature of China-US economic relations and trade features mutually-beneficial and win-win results.&nbsp;

He called on the United States to opt for cooperation rather than confrontation to promote the healthy and stable development of China-US economic relations and trade in the long run.

&quot;You see, we always advocate the idea of building up a new model of international relations and together with everybody else to build a community of mankind for a shared future. This is our philosophy. This is our basic approach to international relations, including our relationship with the United States, and we still stick to this. And I hope people in the US would have a better understanding of China&#39;s approach and would make the best choice. Actually, this is the choice between cooperation and confrontation, between constructiveness and disruptiveness, between win-win and lose-lose. I hope everybody will have really a good understanding of where their best interests lie, the long-term interest of both the Chinese people and the American people, if you have these long-term interests in mind the choice is clear,&quot; Cui said.

The memorandum follows Trump&#39;s recent tariff plan on steel and aluminium imports and January&#39;s tariffs levied on imported solar panels and washing machines. These unilateral moves have prompted strong opposition and warnings from business groups around the world.

Cui's remarks came after Trump signed a memorandum that could impose tariffs on up to 60 billion US dollars of imports from China

Chinese Ambassador to the United States Cui Tiankai said Thursday China would fight to the end to defend its own legitimate interests with all necessary measures if the US really wants to start a trade war. Cui said China does not want to have a trade war with the United States or with anybody else, but China is not afraid of and will not recoil from one if somebody imposes a trade war on it. Cui's remarks came after US President Donald Trump on Thursday signed a memorandum that could impose tariffs on up to 60 billion US dollars of imports from China, the latest unilateral move that poses a threat to global trade. "As far as a possible trade war is concerned, we never wanted to start, but if somebody imposed a trade war on us, will fight to the end. As for the overall China-US relationship, we always believe that the right approach is to base ourselves on better mutual respect and expand our cooperation, manage possible differences in a constructive way, and achieve a win-win outcome. We still follow this approach, and we hope there will be reciprocity on the US side," said Cui in the interview with China Global Television Network (CGTN). Trump has directed US Trade Representative Robert Lighthizer to publish a list of proposed Chinese goods that could be subject to tariffs in 15 days, while the US Treasury Department will have 60 days to propose restrictions on Chinese investment in the United States, according to the presidential memorandum. The tariffs "could be about 60 billion" dollars, Trump said on Thursday at the White House before signing the memorandum. But a senior White House official told reporters earlier in the day that the number would be close to 50 billion dollars. The memorandum is based on a so-called Section 301 investigation into alleged Chinese intellectual property and technology transfer practices, launched by the Trump administration in August 2017. The ambassador said the US accusations are totally groundless and called them a form of discrimination, noting that China always encourages innovation and that Chinese people are capable of immense innovation. "I think such accusations are totally groundless. China encourages innovation. Chinese laws protect intellectual property rights. This applies to Chinese companies and American companies and other companies alike. We will do our utmost to make sure that intellectual property rights are protected, whether they are from Chinese companies or American companies. At the same time, I hope people here would understand or would realize, people in China and people in other developing countries are also fully capable of innovation. They should not believe that they have a monopoly over innovation, and everybody else is just stealing from them. I think this is a kind of discrimination," Cui said. The Chinese ambassador believes the nature of China-US economic relations and trade features mutually-beneficial and win-win results. He called on the United States to opt for cooperation rather than confrontation to promote the healthy and stable development of China-US economic relations and trade in the long run. "You see, we always advocate the idea of building up a new model of international relations and together with everybody else to build a community of mankind for a shared future. This is our philosophy. This is our basic approach to international relations, including our relationship with the United States, and we still stick to this. And I hope people in the US would have a better understanding of China's approach and would make the best choice. Actually, this is the choice between cooperation and confrontation, between constructiveness and disruptiveness, between win-win and lose-lose. I hope everybody will have really a good understanding of where their best interests lie, the long-term interest of both the Chinese people and the American people, if you have these long-term interests in mind the choice is clear," Cui said. The memorandum follows Trump's recent tariff plan on steel and aluminium imports and January's tariffs levied on imported solar panels and washing machines. These unilateral moves have prompted strong opposition and warnings from business groups around the world.

China will not start a trade war but will fight ones imposed on it: Chinese ambassador

Chinese Foreign Ministry Spokesman Lu Kang said on Friday (March 16) said that Sino-US trade is not one-sided in China&#39;s favour and no side would come out unscathed in a trade war.

Lu&#39;s comments came at a regular briefing in Beijing after White House trade adviser Peter Navarro said that Trump would in coming weeks get options to address China&#39;s &quot;theft and forced transfer&quot; of American intellectual property as part of the investigation under Section 301 of the US Trade Act of 1974.

It was reported on Tuesday (March 13) that Trump was considering tariffs on up to $60 billion (43 billion pounds) worth of Chinese information technology, telecommunications and consumer products, along with US investment restrictions for Chinese companies.

Lu said US Chamber of Commerce President Thomas Donohue was right to say that unilateral tariffs on Chinese goods could lead to a destructive trade war that will hurt American consumers and US economic growth.

Sino-US trade is not one-sided in China's favour and no side would come out unscathed in a trade war, said Lu Kang

Chinese Foreign Ministry Spokesman Lu Kang said on Friday (March 16) said that Sino-US trade is not one-sided in China's favour and no side would come out unscathed in a trade war. Lu's comments came at a regular briefing in Beijing after White House trade adviser Peter Navarro said that Trump would in coming weeks get options to address China's "theft and forced transfer" of American intellectual property as part of the investigation under Section 301 of the US Trade Act of 1974. It was reported on Tuesday (March 13) that Trump was considering tariffs on up to $60 billion (43 billion pounds) worth of Chinese information technology, telecommunications and consumer products, along with US investment restrictions for Chinese companies. Lu said US Chamber of Commerce President Thomas Donohue was right to say that unilateral tariffs on Chinese goods could lead to a destructive trade war that will hurt American consumers and US economic growth.

China reiterates that 'there are no winners in a trade war'

In the simmering trade war, <a href="http://www.wionews.com/world/trump-targeting-60-billion-tariffs-on-chinese-imports-in-100-items-35719">the Trump administration has told the</a> World Trade Organization(WTO) that it was taking action against Indian export subsidies.

The US government is increasingly targetting the two biggest economies in Asia - India and China - in a bid to fix its trade deficit.&nbsp;

AFP reported documents submitted to the WTO by the US which included punishment for violating basic rules, mainly aimed at China. 
&nbsp; 
A White House said on Wednesday it was pushing China to cut trade surplus with the US by $100 billion.

Last week, Trump had tweeted that China had been asked to develop a plan to reduce its trade imbalance with the United States by $1 billion, but the White House spokeswoman said Trump had meant to say $100 billion.

The United States had a record $375 billion trade deficit with China in 2017, which made up two-thirds of a global $566 billion U.S. trade gap last year, according to US&nbsp;Census Bureau data.

China reported its 2017 U.S. trade surplus as $276 billion, also about two-thirds of its reported global surplus of $422.5 billion.

In a Thursday editorial, widely-read Chinese state-run tabloid the Global Times said the United States was trying to play the victim.

&quot;If the U.S. wants to reduce its trade deficit, it has to make Americans more hard-working and conduct reforms in accordance with international market demand, instead of asking the rest of the world to change,&quot; it wrote.

&quot;Once a trade war starts, capable countries won&#39;t bow to the US-China has tried hard to avoid a trade war, but if one breaks out, appeasement is not an option.&quot;

The US government is increasingly targetting the two biggest economies in Asia - India and China in a bid to fix its trade deficit.

In the simmering trade war, the Trump administration has told the World Trade Organization(WTO) that it was taking action against Indian export subsidies. The US government is increasingly targetting the two biggest economies in Asia - India and China - in a bid to fix its trade deficit. AFP reported documents submitted to the WTO by the US which included punishment for violating basic rules, mainly aimed at China. A White House said on Wednesday it was pushing China to cut trade surplus with the US by $100 billion. Last week, Trump had tweeted that China had been asked to develop a plan to reduce its trade imbalance with the United States by $1 billion, but the White House spokeswoman said Trump had meant to say $100 billion. The United States had a record $375 billion trade deficit with China in 2017, which made up two-thirds of a global $566 billion U.S. trade gap last year, according to US Census Bureau data. China reported its 2017 U.S. trade surplus as $276 billion, also about two-thirds of its reported global surplus of $422.5 billion. In a Thursday editorial, widely-read Chinese state-run tabloid the Global Times said the United States was trying to play the victim. "If the U.S. wants to reduce its trade deficit, it has to make Americans more hard-working and conduct reforms in accordance with international market demand, instead of asking the rest of the world to change," it wrote. "Once a trade war starts, capable countries won't bow to the US-China has tried hard to avoid a trade war, but if one breaks out, appeasement is not an option."

Taking action against Indian export subsidies: US tells World Trade Organization

A trade war with the US will benefit no one, China warned on Thursday, as it prepares for an &#39;appropriate and necessary response&#39; to US&nbsp;if President Donald Trump fires the first shots.

&quot;Choosing a trade war is surely the wrong prescription, in the end, you will only hurt others and yourself,&quot; news agency AFP quoted Chinese foreign minister Wang Yi as saying during a press conference, adding that &quot;China will certainly make an appropriate and necessary response.&quot;

The Trump administration is expected to formally introduce previously announced tariffs on steel and aluminium imports on Thursday in the US.

US imports from China of these two goods make up a small proportion of its total imports from the world&#39;s second-largest economy.&nbsp;But the tariffs may be the first foray into an American trade war with Beijing.

In coming weeks, the Trump administration is expected to issue a report on intellectual property theft which may hammer China and possibly incite further tariffs on a wide range of Chinese imports, reported AFP.

Trump brought up the forthcoming moves on Wednesday, saying on Twitter that the US had asked China to develop a plan to reduce the deficit by one billion dollars.

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<blockquote class="twitter-tweet" data-lang="en">
China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We must act soon!
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/971402791930552322?ref_src=twsrc%5Etfw">March 7, 2018</a></blockquote>
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The amount is a drop in the bucket compared with record $375.2 billion trade deficit with China the US racked up last year.

&quot;The U.S. is acting swiftly on Intellectual Property theft. We cannot allow this to happen as it has for many years!&quot; the president also tweeted on Wednesday.

(With AFP inputs)&nbsp;

The Trump administration is expected to formally introduce previously announced tariffs on steel and aluminium imports on Thursday in the US.

A trade war with the US will benefit no one, China warned on Thursday, as it prepares for an 'appropriate and necessary response' to US if President Donald Trump fires the first shots. "Choosing a trade war is surely the wrong prescription, in the end, you will only hurt others and yourself," news agency AFP quoted Chinese foreign minister Wang Yi as saying during a press conference, adding that "China will certainly make an appropriate and necessary response." The Trump administration is expected to formally introduce previously announced tariffs on steel and aluminium imports on Thursday in the US. US imports from China of these two goods make up a small proportion of its total imports from the world's second-largest economy. But the tariffs may be the first foray into an American trade war with Beijing. In coming weeks, the Trump administration is expected to issue a report on intellectual property theft which may hammer China and possibly incite further tariffs on a wide range of Chinese imports, reported AFP. Trump brought up the forthcoming moves on Wednesday, saying on Twitter that the US had asked China to develop a plan to reduce the deficit by one billion dollars. China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We must act soon! — Donald J. Trump (@realDonaldTrump) March 7, 2018 × The amount is a drop in the bucket compared with record $375.2 billion trade deficit with China the US racked up last year. "The U.S. is acting swiftly on Intellectual Property theft. We cannot allow this to happen as it has for many years!" the president also tweeted on Wednesday. (With AFP inputs)

Trade war with US will benefit no one, warns China as it readies for 'appropriate response'

China&#39;s foreign minister sought Thursday to downplay concerns about Beijing&#39;s global ambitions, while also hinting at consequences for countries that don&#39;t fall in line on issues like Taiwan.

Pledging that China had no desire to &quot;replace America&quot; on the global stage, Wang Yi said the Asian nation&#39;s path &quot;is totally different than the one that has already been taken by traditional major powers&quot;.

&quot;The more China develops, the more it can contribute to the world,&quot; Wang said in a wide-ranging press conference.

Wang spoke as 3,000 members of China&#39;s mostly ceremonial national legislature have gathered for their annual meeting in Beijing, where they are set to grant President Xi Jinping a nearly limitless mandate to realise his vision of a resurgent China.

Xi&#39;s ambitions are not limited to home: he has clearly articulated his vision of putting China at the centre of world affairs, a position reflecting its Chinese name: &quot;the Middle Kingdom.&quot;

The departure from the country&#39;s long-held stance of keeping a low profile had raised fears abroad of spreading Chinese influence.

On Thursday, Wang tried to strike a balance between reassurance and assertiveness, as Beijing deals with pressure from countries like the US to change its behaviour.

Here are some of the main takeaways:

Us-China Relations

As US president Donald Trump threatens a trade war with China, Wang warned that Beijing is ready to take an &quot;appropriate and necessary response&quot;.

&quot;China&#39;s development and rejuvenation can&#39;t be stopped,&quot; he said.

&quot;Some Americans think that therefore China wants to replace the US&#39;s international role, but that is a fundamental strategic misjudgement.&quot;

China and the US &quot;don&#39;t need to be rivals, they should be partners&quot;.

South China Sea

Nevertheless, China will not give an inch in the South China Sea, where it has built an archipelago of artificial islands hosting military facilities that the US and other nations say threaten freedom of navigation through the strategically vital waterway.

Beijing&#39;s &quot;resolve to protect the peace and the stability of the South China Sea cannot be shaken&quot;, Wang said about the region, where it has overlapping territorial claims with the Philippines, Vietnam, Taiwan, Malaysia and Brunei.

The problems in the region are due to &quot;foreign forces&quot; which &quot;have sent fully armed warships and fighters to the South China Sea to flaunt their military might&quot;, he said, referring to operations by the US, Australia and Britain to assert their right to sail through the region.

Taiwan

Although China does not recognise the self-ruled island as an independent nation, Wang took questions about Beijing&#39;s relationship with Taipei, warning that the Taiwanese government must come around to China&#39;s way of thinking if it hopes to enjoy &quot;peaceful development&quot;.

The relationship between Beijing and Taipei has soured since the election of President Tsai Ying-wen, who has refused to acknowledge the so-called &quot;1992 consensus&quot;, which agrees that there is only one China without specifying whether Beijing or Taipei is its rightful representative.

&quot;The person who locked the door should open it,&quot; Wang said.

Only by taking the &quot;correct path&quot; of recognising the consensus can &quot;cross-strait relations restart building a promising prospect for peaceful development&quot;.

Japan

Japanese Prime Minister Abe is expected to make a visit to China after years of tense relations set off by a territorial dispute and festering disagreements over the legacy of the Second World War.

After mocking a Japanese reporter&#39;s Chinese language skills, Wang said that China &quot;wants the Japanese side to speak credibly in its politics, to behave properly in its actions&quot;.

North Korea

Wang cautiously welcomed the apparent breakthrough over the North Korea nuclear issue as an &quot;important step in the right direction&quot;.

He urged the US and North Korea to hold talks as soon as possible after Seoul said that Pyongyang was ready to discuss denuclearisation with Washington in return for security guarantees.

&quot;Now is the crucial moment to test the sincerity of the parties to solve the nuclear issue,&quot; he said.

Chinese minister Wang Yi spoke as 3,000 members of China's mostly ceremonial national legislature have gathered for their annual meeting in Beijing

China's foreign minister sought Thursday to downplay concerns about Beijing's global ambitions, while also hinting at consequences for countries that don't fall in line on issues like Taiwan. Pledging that China had no desire to "replace America" on the global stage, Wang Yi said the Asian nation's path "is totally different than the one that has already been taken by traditional major powers". "The more China develops, the more it can contribute to the world," Wang said in a wide-ranging press conference. Wang spoke as 3,000 members of China's mostly ceremonial national legislature have gathered for their annual meeting in Beijing, where they are set to grant President Xi Jinping a nearly limitless mandate to realise his vision of a resurgent China. Xi's ambitions are not limited to home: he has clearly articulated his vision of putting China at the centre of world affairs, a position reflecting its Chinese name: "the Middle Kingdom." The departure from the country's long-held stance of keeping a low profile had raised fears abroad of spreading Chinese influence. On Thursday, Wang tried to strike a balance between reassurance and assertiveness, as Beijing deals with pressure from countries like the US to change its behaviour. Here are some of the main takeaways: Us-China Relations As US president Donald Trump threatens a trade war with China, Wang warned that Beijing is ready to take an "appropriate and necessary response". "China's development and rejuvenation can't be stopped," he said. "Some Americans think that therefore China wants to replace the US's international role, but that is a fundamental strategic misjudgement." China and the US "don't need to be rivals, they should be partners". South China Sea Nevertheless, China will not give an inch in the South China Sea, where it has built an archipelago of artificial islands hosting military facilities that the US and other nations say threaten freedom of navigation through the strategically vital waterway. Beijing's "resolve to protect the peace and the stability of the South China Sea cannot be shaken", Wang said about the region, where it has overlapping territorial claims with the Philippines, Vietnam, Taiwan, Malaysia and Brunei. The problems in the region are due to "foreign forces" which "have sent fully armed warships and fighters to the South China Sea to flaunt their military might", he said, referring to operations by the US, Australia and Britain to assert their right to sail through the region. Taiwan Although China does not recognise the self-ruled island as an independent nation, Wang took questions about Beijing's relationship with Taipei, warning that the Taiwanese government must come around to China's way of thinking if it hopes to enjoy "peaceful development". The relationship between Beijing and Taipei has soured since the election of President Tsai Ying-wen, who has refused to acknowledge the so-called "1992 consensus", which agrees that there is only one China without specifying whether Beijing or Taipei is its rightful representative. "The person who locked the door should open it," Wang said. Only by taking the "correct path" of recognising the consensus can "cross-strait relations restart building a promising prospect for peaceful development". Japan Japanese Prime Minister Abe is expected to make a visit to China after years of tense relations set off by a territorial dispute and festering disagreements over the legacy of the Second World War. After mocking a Japanese reporter's Chinese language skills, Wang said that China "wants the Japanese side to speak credibly in its politics, to behave properly in its actions". North Korea Wang cautiously welcomed the apparent breakthrough over the North Korea nuclear issue as an "important step in the right direction". He urged the US and North Korea to hold talks as soon as possible after Seoul said that Pyongyang was ready to discuss denuclearisation with Washington in return for security guarantees. "Now is the crucial moment to test the sincerity of the parties to solve the nuclear issue," he said.

Not trying to 'replace America', says Chinese foreign minister

World stocks and emerging markets fell for the fifth straight day on Monday, hammered by fears of a global trade war and the prospect of political instability in Europe after inconclusive elections in Italy.&nbsp;

Assets considered low-risk - including gold, the yen, and German bonds - were in heavy demand, with yields on the latter at the lowest in a month.&nbsp;

&quot;There is nothing in the global set-up that&#39;s positive for equities at the moment especially as (share) prices are still out of whack with latest developments,&quot; said Salman Ahmed, chief investment strategist at Lombard Odier Investment Managers.&nbsp;

US&nbsp;President Donald Trump last week sent world markets lower after threatening hefty tariffs on steel and aluminum imports, sparking threats of retaliatory action from trade partners worldwide.

On Sunday, Italian voters delivered a hung parliament, flocking to anti-immigrant and eurosceptic parties in record numbers in a development seen as a setback to stability and wider European integration.&nbsp;

Italian stocks were down 1 per cent at six-month lows, though broader European markets reversed opening losses to trade marginally higher.

MSCI&#39;s all-country equity index slipped 0.2 per cent after emerging Asian and Japanese shares fell more than 0.7 per cent.&nbsp;

Emerging shares took the biggest beating, falling almost one per cent to three-week lows.&nbsp;

Ahmed said developments in Italy represented&nbsp; &quot;a medium to small shock&quot; with implications for asset prices, while the risk of trade wars was a far bigger issue.&nbsp;

Canada and Mexico have threatened retaliation, and the European Union said it would apply 25 per cent tariffs on about $3.5 billion of US&nbsp;imports if Trump carried out his threat. 
China too said it would defend its interests.&nbsp;

&quot;Markets are not priced for trade wars and now you are also seeing a negative reaction to the US&nbsp;moves from Europe and Canada,&quot; Ahmed said.

&quot;The major vulnerability is in emerging markets,&quot; he added, referring to the developing world`s reliance on trade which has been expanding faster than economic growth in recent years, a key for company profits and equity returns.

Most emerging currencies weakened around 0.3-0.5 per cent to the dollar. 
Overshadowing Germany.

The growth concerns pushed investors towards Bunds, with 10-year German yields falling to nearly six-week lows.

Yields on 10-year Italian government bonds jumped 10 basis points at the open, reversing some of the gains they had enjoyed in the run-up to the election. That, in turn, pushed up yields on other lower-rated European bonds from Spain and Portugal.

The prospect of prolonged Italian instability drove the euro to six-month lows versus the yen. Against the dollar, it approached seven-week lows hit last week.

The single currency clawed back some of those losses as the day progressed but Italy continued to overshadow Germany&#39;s progress towards a new government - its Social Democrats on Sunday having decisively backed a coalition with Chancellor Angela Merkel`s conservatives.

&quot;Even though Europe is traditionally driven by the French-German axis, Italy is still hugely important,&quot; Erik Norland, senior economist at CME Group, said.

&quot;To have (Italy) not in favor of deeper integration, anti-immigrant and moving to a different fiscal line from Germany will limit the upside to the euro in the coming days and weeks.&quot;

The dollar too languished near one-week lows against a basket of currencies and was not far off November 2016 lows plumbed versus the yen last week immediately after Trump&#39;s trade threats.

Wall Street appeared set for a weak open, with futures down 0.3 per cent.

Gold benefited from the turbulence, rising 0.3 per cent to one-week lows.&nbsp;

While other commodities could suffer should the growth outlook soften, copper prices stayed flat on the day while crude prices rose half a cent before an oil producers&#39;&nbsp;meeting that could discuss limiting output further.

World stocks and emerging markets fell for the fifth straight day on Monday, hammered by fears of a global trade war and the prospect of political instability in Europe after inconclusive elections in Italy

World stocks and emerging markets fell for the fifth straight day on Monday, hammered by fears of a global trade war and the prospect of political instability in Europe after inconclusive elections in Italy. Assets considered low-risk - including gold, the yen, and German bonds - were in heavy demand, with yields on the latter at the lowest in a month. "There is nothing in the global set-up that's positive for equities at the moment especially as (share) prices are still out of whack with latest developments," said Salman Ahmed, chief investment strategist at Lombard Odier Investment Managers. US President Donald Trump last week sent world markets lower after threatening hefty tariffs on steel and aluminum imports, sparking threats of retaliatory action from trade partners worldwide. On Sunday, Italian voters delivered a hung parliament, flocking to anti-immigrant and eurosceptic parties in record numbers in a development seen as a setback to stability and wider European integration. Italian stocks were down 1 per cent at six-month lows, though broader European markets reversed opening losses to trade marginally higher. MSCI's all-country equity index slipped 0.2 per cent after emerging Asian and Japanese shares fell more than 0.7 per cent. Emerging shares took the biggest beating, falling almost one per cent to three-week lows. Ahmed said developments in Italy represented "a medium to small shock" with implications for asset prices, while the risk of trade wars was a far bigger issue. Canada and Mexico have threatened retaliation, and the European Union said it would apply 25 per cent tariffs on about $3.5 billion of US imports if Trump carried out his threat. China too said it would defend its interests. "Markets are not priced for trade wars and now you are also seeing a negative reaction to the US moves from Europe and Canada," Ahmed said. "The major vulnerability is in emerging markets," he added, referring to the developing world`s reliance on trade which has been expanding faster than economic growth in recent years, a key for company profits and equity returns. Most emerging currencies weakened around 0.3-0.5 per cent to the dollar. Overshadowing Germany. The growth concerns pushed investors towards Bunds, with 10-year German yields falling to nearly six-week lows. Yields on 10-year Italian government bonds jumped 10 basis points at the open, reversing some of the gains they had enjoyed in the run-up to the election. That, in turn, pushed up yields on other lower-rated European bonds from Spain and Portugal. The prospect of prolonged Italian instability drove the euro to six-month lows versus the yen. Against the dollar, it approached seven-week lows hit last week. The single currency clawed back some of those losses as the day progressed but Italy continued to overshadow Germany's progress towards a new government - its Social Democrats on Sunday having decisively backed a coalition with Chancellor Angela Merkel`s conservatives. "Even though Europe is traditionally driven by the French-German axis, Italy is still hugely important," Erik Norland, senior economist at CME Group, said. "To have (Italy) not in favor of deeper integration, anti-immigrant and moving to a different fiscal line from Germany will limit the upside to the euro in the coming days and weeks." The dollar too languished near one-week lows against a basket of currencies and was not far off November 2016 lows plumbed versus the yen last week immediately after Trump's trade threats. Wall Street appeared set for a weak open, with futures down 0.3 per cent. Gold benefited from the turbulence, rising 0.3 per cent to one-week lows. While other commodities could suffer should the growth outlook soften, copper prices stayed flat on the day while crude prices rose half a cent before an oil producers' meeting that could discuss limiting output further.

Trade war fears, Italian election buffet world shares

The US president Donald Trump will be delivering his State of the Union (SOTU) speech on Jan 30, 2018. Given the promises made during Trump&rsquo;s campaign and the trajectory of the events since he took office, the White House has been gearing up to prepare for a trade crackdown on China. During his Asia Trip, Trump addressed the problems the US is suffering due to unfair and unfavorable trade practices by the other countries. In his &lsquo;America First&rsquo; policy, Trump vowed to only engage in fair and reciprocal trade, revisiting several trade pacts made under previous administrations.&nbsp;

&nbsp;

The National Security Strategy (NSS), released in December 2017, unabashedly saw the global trade practices as unfit for the US objectives of making &lsquo;America great again&rsquo;. The NSS categorised China as a strategic and economic competitor, which took advantage of the US-led globalisation initiative.&nbsp;

&nbsp;

The US and China have continued to express displeasure at each other&rsquo;s trade practices. In the last World Economic Forum, 2017, the keynote speech delivered by Xi Jinping expressed a different side of Chinese thinking where Xi prompted liberal and free trade for a globalised world while accusing the US of protectionism. The speech came after Trump Administration took over from Obama administration.&nbsp;

&nbsp;

In the period of Trump&rsquo;s campaign, several allegations were made against China&rsquo;s unfair, regressive and harmful trade practices, currency manipulation, and imbalance of trade, against which a vision of &lsquo;America First&rsquo; policy was promoted. Trump promised to &lsquo;fix&rsquo; the trade deficit, engage only in reciprocal and far trade instead of free trade.&nbsp;

&nbsp;

As politico published&mdash;according to the three administration officials&mdash;the crackdown is likely to include new tariffs directed at China. The tariffs are to involve everything from imports of steel and solar panels to intellectual property theft.

&nbsp;

The White House was seen keen on addressing the trade issue with China since Trump&rsquo;s Asia Trips. The events that followed, suggest that Trump administration is past the question of &lsquo;should&rsquo; and reached precise measures on &lsquo;how&rsquo; to rectify trade imbalance with China. Moreover, trade is one of the policy areas where the President can act without reliance on the Congress.

&nbsp;

Underlining the development, there have been serious debates between the Trump senior advisors on the course of trade policy against China as the consequences may be severe. The officials said that even though Trump is undecided on specific policies, there are chances that these tariffs will be sanctioned, attracting severe retaliation from the targeted countries.

&nbsp;

Trump&rsquo;s meeting with Republican Congressional Leaders, at Camp David on 6th Jan 2018, drew caution from going too far on a trade war. The meetings included key Cabinet Secretaries and senior administration officials, including Commerce Secretary Wilbur Ross, Agriculture Secretary Sonny Perdue, Labor Secretary Alexander Acosta, Treasury Secretary Steven Mnuchin, US Trade Representative Robert Lighthizer, trade advisor Peter Navarro, Council Economic Advisers chairman Kevin Hassett and National Economic Council director Gary Cohn. The Politico reported, a clear divide between the senior members, Cohn and group, calling for more moderate, targeted approach and Navarro, advocating harsh and sweeping actions.

&nbsp;

The current administration is known for reversing the actions taken during Obama administration. Trump pulled out from Trans-Pacific Partnership, Paris Agreement on Climate Change, demanded allies to pay their share for security provided under the US and announced renegotiation of two major trade agreements&mdash;North Atlantic Free Trade Association (NAFTA) and Free Trade Agreement with South Korea. Not to forget the upcoming World Economic Forum, from 23-26 Jan 2018, will also condense US policy on trade (with China) and face real-time response from the attending nations.&nbsp;

&nbsp;

China has already received certain blows on trade, complicating an overwrought relationship. The Congressional Committee on Foreign Investment in the US (CFIUS) blocked Ant Financial, Jack Ma&rsquo;s company, from acquiring MoneyGram due to concerns for national security. In the cases of import of solar power and washing machines, the US Trade Commission concluded that increased imports are a &ldquo;substantial cause of serious injury to the domestic industry&rdquo;.&nbsp;

&nbsp;

On 22 Jan 2018, White House decided to enforce tariffs on solar panels and washing machines. Chinese Commerce Ministry criticised the move saying, &ldquo;the US side once again has abused its trade remedy measures&hellip;will resolutely defend its [China&rsquo;s] legitimate interests&rdquo;.

&nbsp;

Trump has a wide berth for maneuvers in deciding tariffs and import quotas. It can be speculated that he may only choose to target China to signify the US attempt and resolve at punishing China for trade malpractice. It&rsquo;s likely that his attempts may face challenges at the World Trade Organization (WTO) and may also trigger mirrored actions by countries, barring the US products in their respective markets. The prospects of such tariffs are likely to result in loss of tens of thousands of jobs, alarming the booming solar energy sector in the US, created under the Obama administration. &nbsp;

&nbsp;

The reason given behind these tariffs, is to provide much required impetus to the indigenous solar manufacturing, significant for national security and economy.

&nbsp;

The attack on solar power has also lead to a debate questioning the intentions behind tariffs against a green, renewable alternative to fossil fuels. The Trump administration increased efforts to repeal Obama administration&rsquo;s climate rules on the power industry, it proposed measures to give financial support to coal-fired power plants. The administration has also pushed to increase US exports of liquefied natural gas.&nbsp;

&nbsp;

In the Obama Administration, the solar power sector enjoyed its boom years resulting in cost competitiveness with natural gas and coal-based power plants. The cost declination in prices of solar panels will be reversed with the execution of the tariffs. Chinese companies hold about 80 percent of the solar manufacturing capacity, the US being the second largest.&nbsp;

&nbsp;

The US congressional policies have already reduced Chinese investments from about US$ 50 Billion in 2016 to less than half in 2017. The US&rsquo;s barring of Chinese investment in US high-tech sector has, ironically, accelerated the pace of tech innovation in China, increasing expenditure on R&amp;D from 1% in 2000 to 2% in 2017.&nbsp;

&nbsp;

On Jan 22nd 2018, Pentagon released its National Defense Strategy (NDS), calling for aggressive steps towards the strategic competitors&mdash;China and Russia. Previously, the NSS 2017, had already categorised the two nations as a danger to the US national security and international order.&nbsp;

&nbsp;

Post the release of NDS, Jim Mattis Secretary of Defense said, &quot;this required some tough choices ... and we made them&hellip;based upon a fundamental precept: namely, that America can afford survival.&rdquo; The paper called China and Russia &lsquo;principal priorities&rsquo;. China reprimanded the document, calling it &lsquo;a cold war mentality&rsquo; and &lsquo;full of unreal assertions of zero-sum games and confrontations.&rsquo;

&nbsp;

On the eve of the release, USS Hopper sailed within 12 nautical miles of Scarborough Shoal, occupied by China from Philippines in 2012, reviving the Freedom of Navigation Operations (FONOP) after months.&nbsp;

&nbsp;

On reports of continued militarisation in the South China Sea, Brian Hook, US State Department, vowed to resume FNOPs. The revival of Quad and the new term &lsquo;Indo-Pacific&rsquo; and its amplified use by the US and allies have alarmed China into increasing its military presence on the artificial islands.&nbsp;

&nbsp;

Moreover, from Trump&rsquo;s Asia visit, increasing US arms sale have also fueled speculations enticing conflict between China and the neighbors. The US is deploying more military assets in the region, blaming North Korea, but China remains unsure of the US intentions. Seeking closer ties with the Southeast Asian nations against China&rsquo;s growing militarisation on the South China Sea, Jim Mattis is on his Southeast Asia visit from 22-26 Jan 2018. He visited Indonesia and vowed continued efforts to expand maritime cooperation and make Indonesia as &lsquo;a sort of fulcrum between Indian and Pacific Ocean&rsquo;.

&nbsp;

While aggressive military and diplomatic actions by China has provided legitimacy to the US presence in East Asia, the US naval exercises in South China has also had a reverse effect. China never stopped militarising in the South China Sea, in fact, it increased the deployment of military assets, encouraging tension and disputes.&nbsp;

&nbsp;

Tensions in US-China relations have global consequences and Trump&rsquo;s response to China in both defense and trade will also have inevitable underpinnings for the rest of the world. Under his administration, the US has acknowledged revival of the great power competition and its reduced leverage on land, in the air, and space and nuclear.&nbsp;

&nbsp;

Even though Trump may levy strict tariffs on imports from China, will it improve the US standing in the globalized world? Trump&rsquo;s insistence on &lsquo;America First&rsquo; takes away the US credits as the leader of the globalised world. Moving away from multilateral forums, when it is perhaps required most, the US may isolate itself but at the cost of its supremacy.&nbsp;

&nbsp;

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)&nbsp;&nbsp;

Tensions in US-China relations have global consequences and Trump’s response to China in both defense and trade will also have inevitable underpinnings for the rest of the world.

The US president Donald Trump will be delivering his State of the Union (SOTU) speech on Jan 30, 2018. Given the promises made during Trump’s campaign and the trajectory of the events since he took office, the White House has been gearing up to prepare for a trade crackdown on China. During his Asia Trip, Trump addressed the problems the US is suffering due to unfair and unfavorable trade practices by the other countries. In his ‘America First’ policy, Trump vowed to only engage in fair and reciprocal trade, revisiting several trade pacts made under previous administrations. The National Security Strategy (NSS), released in December 2017, unabashedly saw the global trade practices as unfit for the US objectives of making ‘America great again’. The NSS categorised China as a strategic and economic competitor, which took advantage of the US-led globalisation initiative. The US and China have continued to express displeasure at each other’s trade practices. In the last World Economic Forum, 2017, the keynote speech delivered by Xi Jinping expressed a different side of Chinese thinking where Xi prompted liberal and free trade for a globalised world while accusing the US of protectionism. The speech came after Trump Administration took over from Obama administration. In the period of Trump’s campaign, several allegations were made against China’s unfair, regressive and harmful trade practices, currency manipulation, and imbalance of trade, against which a vision of ‘America First’ policy was promoted. Trump promised to ‘fix’ the trade deficit, engage only in reciprocal and far trade instead of free trade. As politico published—according to the three administration officials—the crackdown is likely to include new tariffs directed at China. The tariffs are to involve everything from imports of steel and solar panels to intellectual property theft. The White House was seen keen on addressing the trade issue with China since Trump’s Asia Trips. The events that followed, suggest that Trump administration is past the question of ‘should’ and reached precise measures on ‘how’ to rectify trade imbalance with China. Moreover, trade is one of the policy areas where the President can act without reliance on the Congress. Underlining the development, there have been serious debates between the Trump senior advisors on the course of trade policy against China as the consequences may be severe. The officials said that even though Trump is undecided on specific policies, there are chances that these tariffs will be sanctioned, attracting severe retaliation from the targeted countries. Trump’s meeting with Republican Congressional Leaders, at Camp David on 6th Jan 2018, drew caution from going too far on a trade war. The meetings included key Cabinet Secretaries and senior administration officials, including Commerce Secretary Wilbur Ross, Agriculture Secretary Sonny Perdue, Labor Secretary Alexander Acosta, Treasury Secretary Steven Mnuchin, US Trade Representative Robert Lighthizer, trade advisor Peter Navarro, Council Economic Advisers chairman Kevin Hassett and National Economic Council director Gary Cohn. The Politico reported, a clear divide between the senior members, Cohn and group, calling for more moderate, targeted approach and Navarro, advocating harsh and sweeping actions. The current administration is known for reversing the actions taken during Obama administration. Trump pulled out from Trans-Pacific Partnership, Paris Agreement on Climate Change, demanded allies to pay their share for security provided under the US and announced renegotiation of two major trade agreements—North Atlantic Free Trade Association (NAFTA) and Free Trade Agreement with South Korea. Not to forget the upcoming World Economic Forum, from 23-26 Jan 2018, will also condense US policy on trade (with China) and face real-time response from the attending nations. China has already received certain blows on trade, complicating an overwrought relationship. The Congressional Committee on Foreign Investment in the US (CFIUS) blocked Ant Financial, Jack Ma’s company, from acquiring MoneyGram due to concerns for national security. In the cases of import of solar power and washing machines, the US Trade Commission concluded that increased imports are a “substantial cause of serious injury to the domestic industry”. On 22 Jan 2018, White House decided to enforce tariffs on solar panels and washing machines. Chinese Commerce Ministry criticised the move saying, “the US side once again has abused its trade remedy measures…will resolutely defend its [China’s] legitimate interests”. Trump has a wide berth for maneuvers in deciding tariffs and import quotas. It can be speculated that he may only choose to target China to signify the US attempt and resolve at punishing China for trade malpractice. It’s likely that his attempts may face challenges at the World Trade Organization (WTO) and may also trigger mirrored actions by countries, barring the US products in their respective markets. The prospects of such tariffs are likely to result in loss of tens of thousands of jobs, alarming the booming solar energy sector in the US, created under the Obama administration. The reason given behind these tariffs, is to provide much required impetus to the indigenous solar manufacturing, significant for national security and economy. The attack on solar power has also lead to a debate questioning the intentions behind tariffs against a green, renewable alternative to fossil fuels. The Trump administration increased efforts to repeal Obama administration’s climate rules on the power industry, it proposed measures to give financial support to coal-fired power plants. The administration has also pushed to increase US exports of liquefied natural gas. In the Obama Administration, the solar power sector enjoyed its boom years resulting in cost competitiveness with natural gas and coal-based power plants. The cost declination in prices of solar panels will be reversed with the execution of the tariffs. Chinese companies hold about 80 percent of the solar manufacturing capacity, the US being the second largest. The US congressional policies have already reduced Chinese investments from about US$ 50 Billion in 2016 to less than half in 2017. The US’s barring of Chinese investment in US high-tech sector has, ironically, accelerated the pace of tech innovation in China, increasing expenditure on R&D from 1% in 2000 to 2% in 2017. On Jan 22nd 2018, Pentagon released its National Defense Strategy (NDS), calling for aggressive steps towards the strategic competitors—China and Russia. Previously, the NSS 2017, had already categorised the two nations as a danger to the US national security and international order. Post the release of NDS, Jim Mattis Secretary of Defense said, "this required some tough choices ... and we made them…based upon a fundamental precept: namely, that America can afford survival.” The paper called China and Russia ‘principal priorities’. China reprimanded the document, calling it ‘a cold war mentality’ and ‘full of unreal assertions of zero-sum games and confrontations.’ On the eve of the release, USS Hopper sailed within 12 nautical miles of Scarborough Shoal, occupied by China from Philippines in 2012, reviving the Freedom of Navigation Operations (FONOP) after months. On reports of continued militarisation in the South China Sea, Brian Hook, US State Department, vowed to resume FNOPs. The revival of Quad and the new term ‘Indo-Pacific’ and its amplified use by the US and allies have alarmed China into increasing its military presence on the artificial islands. Moreover, from Trump’s Asia visit, increasing US arms sale have also fueled speculations enticing conflict between China and the neighbors. The US is deploying more military assets in the region, blaming North Korea, but China remains unsure of the US intentions. Seeking closer ties with the Southeast Asian nations against China’s growing militarisation on the South China Sea, Jim Mattis is on his Southeast Asia visit from 22-26 Jan 2018. He visited Indonesia and vowed continued efforts to expand maritime cooperation and make Indonesia as ‘a sort of fulcrum between Indian and Pacific Ocean’. While aggressive military and diplomatic actions by China has provided legitimacy to the US presence in East Asia, the US naval exercises in South China has also had a reverse effect. China never stopped militarising in the South China Sea, in fact, it increased the deployment of military assets, encouraging tension and disputes. Tensions in US-China relations have global consequences and Trump’s response to China in both defense and trade will also have inevitable underpinnings for the rest of the world. Under his administration, the US has acknowledged revival of the great power competition and its reduced leverage on land, in the air, and space and nuclear. Even though Trump may levy strict tariffs on imports from China, will it improve the US standing in the globalized world? Trump’s insistence on ‘America First’ takes away the US credits as the leader of the globalised world. Moving away from multilateral forums, when it is perhaps required most, the US may isolate itself but at the cost of its supremacy. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion:  Will US see Trade War with China? Trump's State of the Union Speech will have the answer

China will offer the Trump administration better market access for financial sector investments and US&nbsp;beef exports to help avert a trade war, the Financial Times reported on Sunday, citing officials familiar with the matter.

China is prepared to raise the investment ceiling in the Bilateral Investment treaty and is also willing to end the ban on US&nbsp;beef imports, the newspaper also reported.

&quot;China was prepared to (raise the investment ceilings) in the BIT but those negotiations were put on hold (after Trump&#39;s election victory),&quot; the Financial Times also reported citing a Chinese official involved in the talks.

US&nbsp;Commerce Secretary Wilbur Ross said on Friday that President Donald Trump and Chinese President Xi Jinping have agreed to a new 100-day plan for trade talks on Friday.

The US&nbsp;trade department was not immediately available for comment while the China&#39;s ministry of commerce could not be reached for comment.

(Reuters)

China is prepared to raise the investment ceiling in the Bilateral Investment treaty, and is also willing to end the ban on US beef imports

China will offer the Trump administration better market access for financial sector investments and US beef exports to help avert a trade war, the Financial Times reported on Sunday, citing officials familiar with the matter. China is prepared to raise the investment ceiling in the Bilateral Investment treaty and is also willing to end the ban on US beef imports, the newspaper also reported. "China was prepared to (raise the investment ceilings) in the BIT but those negotiations were put on hold (after Trump's election victory)," the Financial Times also reported citing a Chinese official involved in the talks. US Commerce Secretary Wilbur Ross said on Friday that President Donald Trump and Chinese President Xi Jinping have agreed to a new 100-day plan for trade talks on Friday. The US trade department was not immediately available for comment while the China's ministry of commerce could not be reached for comment. (Reuters)

China offers concessions to avert trade war with US: Financial Times

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