China showed its willingness to resolve the ongoing “trade dispute” with the U.S. through “calm” discussions, while stating a clear objection towards escalating the conflict, as informed by “Vice Premier Liu He”, responsible for conducting talks with Washington.
The trade war between the two “largest economies” of the world took a bitter turn lately as both the countries levelled “more tariffs on each other’s exports”. The U.S. President Trump exercised “an additional duty on some $550 billion of targeted Chinese” last week as China followed in its wake to impose “retaliatory tariffs on $75 billion worth of U.S. goods”.
Moreover, yesterday Trump remained firm on his threat of pulling out U.S. companies from Chinese market. While, Liu’s opinion is that a trade war is not beneficial to anybody. The “top economic adviser” of President Xi Jinping also said:
“We are willing to resolve the issue through consultations and cooperation in a calm attitude and resolutely oppose the escalation of the trade war”.
“We believe that the escalation of the trade war is not beneficial for China, the United States, nor to the interests of the people of the world”.
“We welcome enterprises from all over the world, including the United States, to invest and operate in China”.
“We will continue to create a good investment environment, protect intellectual property rights, promote the development of smart intelligent industries with our market open, resolutely oppose technological blockades and protectionism, and strive to protect the completeness of the supply chain.”
Although, it remains to understand clearly as to how Trump may pull the U.S. companies out of Chinese markets, the “U.S. Treasury Secretary”, Steven Mnuchin informed that the U.S. President can use “International Emergency Economic Powers Act” to pull the U.S. companies out of China by declaring a “national emergency”. Due to the trade war global economies have suffered in the growth chart while allies remain upset and market uncertainties continue to hover in the fear of an impending recession.
References:
reuters.com
The trade war between the two “largest economies” of the world took a bitter turn lately as both the countries levelled “more tariffs on each other’s exports”. The U.S. President Trump exercised “an additional duty on some $550 billion of targeted Chinese” last week as China followed in its wake to impose “retaliatory tariffs on $75 billion worth of U.S. goods”.
Moreover, yesterday Trump remained firm on his threat of pulling out U.S. companies from Chinese market. While, Liu’s opinion is that a trade war is not beneficial to anybody. The “top economic adviser” of President Xi Jinping also said:
“We are willing to resolve the issue through consultations and cooperation in a calm attitude and resolutely oppose the escalation of the trade war”.
“We believe that the escalation of the trade war is not beneficial for China, the United States, nor to the interests of the people of the world”.
“We welcome enterprises from all over the world, including the United States, to invest and operate in China”.
“We will continue to create a good investment environment, protect intellectual property rights, promote the development of smart intelligent industries with our market open, resolutely oppose technological blockades and protectionism, and strive to protect the completeness of the supply chain.”
Although, it remains to understand clearly as to how Trump may pull the U.S. companies out of Chinese markets, the “U.S. Treasury Secretary”, Steven Mnuchin informed that the U.S. President can use “International Emergency Economic Powers Act” to pull the U.S. companies out of China by declaring a “national emergency”. Due to the trade war global economies have suffered in the growth chart while allies remain upset and market uncertainties continue to hover in the fear of an impending recession.
References:
reuters.com
