Canadian retailers could be helped by a U.S. trade battle with China

In the short term Xi Jinping is likely to continue the key planks of his first term top-down and incremental economic reforms rolling corruption sweeps and increased emphasis Communist Party orthodoxy

In the short term Xi Jinping is likely to continue the key planks of his first term top-down and incremental economic reforms rolling corruption sweeps and increased emphasis Communist Party orthodoxy

He suggests that the only way to make lasting progress is to "forge a fair, binding and enforceable trade agreement with China that requires them to end these practices once and for all".

Taiwan should educate its youth about the risks presented by China where there is neither freedom nor democracy, Taiwan's main body in charge of policy making towards its giant neighbour said on Friday.

In a presidential memorandum signed by Trump on Thursday, there will be a 30-day consultation period that only starts once a list of Chinese goods is published. "We have a tremendous intellectual property theft situation going on" with China affecting hundreds of billions of dollars in trade each year, he said.

Timmons suggests that the tariffs could provoke China to take further destructive actions against American manufacturing workers.

The commerce ministry on Friday unveiled a plan to levy additional duties on up to $3 billion of USA imports including fruit and wine, in response to US import tariffs on steel and aluminum.

More news: On the menu for McDonald's: cutting greenhouse gas emissions

The inevitable fall in demand from a full-blown trade war would spell trouble for all the economies supplying the United States and China. China has become the world's largest walnut producer, for example, according to the U.S. Agriculture Department.

"We could end up replacing the U.S.as a supplier to China if China imposes restrictions on USA products". Close U.S. ally Japan also is seeking to avoid the tariffs on its products.

Chinese Premier Li Keqiang said recently there would be no forced technology transfers.

Senior White house officials on Friday defended US President Donald Trump's move, stating that every billion of trade deficit costs the US around 6,000 jobs. Officials then went on to roll out temporary exemptions for the metals levies for Argentina, Australia, Brazil, Canada, Mexico, the European Union and South Korea.

These countries also are concerned about the loss of intellectual property, such as inventions and protected technology.

More news: Demonstrators Delay NBA Game To Protest Police Killing Of Stephon Clark

US stocks tumbled even prior to Trump's announcement of the tariffs plan which spurred fear of an escalating trade war. China's demand for imports of USA scrap aluminum, another product singled out by Beijing for higher tariffs, will likely soften now that the US has imposed higher tariffs on Chinese aluminum imports.

Beijing imposes 15% tariff on 120 goods worth almost $1 billion, including fresh fruit, nuts and wine; 25% on eight goods worth nearly $2 billion, including pork and aluminium scrap; commerce ministry in India plans internal meet, weighs options.

U.S. wine exports to China a year ago were $79 million, according to data from the U.S. Wine Institute, which represents Californian wine makers. The U.S.is a major supplier of apples, cherries, walnuts and almonds, much of which is produced by growers in California, Florida and MI.

"We have supported targeted, USA government efforts to address these issues but nevertheless remained dedicated to the China market because it holds vast growth potential for USA agriculture", President and CEO Tom Sleight said. "China's potential retaliatory moves mainly focus on farm products, providing a good chance for domestic producers to boost sales", said Zhang Gang, a strategist with Central China Securities.

The US will pay for its "arbitrary and reckless behaviour", the Chinese foreign ministry said.

More news: White House hunts leaker after Trump congratulates Putin

Recommended News

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