Beijing sounds warning on Trump tariffs: 'trade war will hurt everyone'

Beijing sounds warning on Trump tariffs: 'trade war will hurt everyone'

He made the comments during a news briefing as part of the annual meeting of China's parliament in Beijing on Thursday.

"They had candid discussions about India-China bilateral relations and enhancing mutual exchanges", it said.

The amount is a drop in the bucket when compared with the record $375.2 billion trade deficit the USA racked up with China a year ago.

While China's role could lose more than U.S. in a possible trade war because it is one who records surplus, Capital Economics consultancy recalls that United States has very few destinations to go to if it wants to stop buying from China, because Asian giant is by far world's largest supplier of several of products that United States acquires. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with.

It is expected that in coming weeks Trump administration will publish a report on intellectual property ft that clearly points to China as one of offenders, which could lead to or trade measures against Beijing. "But there are few alternative sources for the main products the U.S. buys from China", the research firm said in a note on Wednesday.

China follows a responsible approach to the South China Sea issue, taking into account interests of the Chinese people, historical facts, regional peace and the worldwide rule of law, he added.

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

February Jobs Report Comes in Huge: 313000 Jobs Added
But there also were signs the hunger for increasingly scarce workers was causing companies to dig deeper into the labor pool. But judging from recent comments, at least, it seems unlikely that the Fed will pay heed to those arguments.

Trump's tweets follow China's moves to resolve the simmering trade tensions.

Trump is also considering potential trade sanctions against China under a "section 301" investigation into its intellectual property practices and pressure on foreign companies for technology transfers. His top economic adviser, Gary Cohn, quit this week after opposing the tariff plan.

"The bigger picture is that while China's trade surplus with most of the world has declined during the past year...its surplus with the US has continued to expand", said Julian Evans-Pritchard, China Economist at Capital Economics in a note.

Major Asian nations reacted sharply to U.S. President Donald Trump's decision to impose tariffs on steel and aluminium imports on Friday, warning of damage to relations amid industry calls for retaliation.

The Commerce Department said Wednesday that the trade deficit rose to $56.6 billion in January, up 5 percent from $53.9 billion in December and the highest since October 2008's $60.2 billion trade gap.

A senior South Korean official said the tariffs would impact the renegotiation of the bilateral free trade deal with the United States that is now underway.

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