World trade
China warns Trump before the trade war
The exchange of blows between the USA and China went into the next round this week. Beijing wants to demonstrate strength. Has also made an offer.
According to his Minister of Commerce, China is ready for the trade dispute with the USA. “Due and blackmail will not work in China and China will not intimidate,” said Wang Wentao at a press conference on the sidelines of the Chinese Congress in Beijing. The People’s Republic was determined to defend its interests. If the United States wanted to keep going the wrong path, China would go with it to the end, said Wang.
Since this week, a trade war has been making its way between the two largest economies in the world. Washington under US President Donald Trump doubled the tariffs to Chinese goods. They are now 20 percent. With the announcement of counter-tariffs, Beijing reacted to US agricultural products and other measures against certain companies from the United States.
China sees the danger to stability
“An increasingly complex and difficult external environment could influence China in areas such as trade, science and technology,” said the Chinese government’s work report, which Prime Minister Li Qiang presented on Wednesday at the opening of the Volkskongress. The restrictions by tariffs continue to increase and undermine the stability of delivery and industrial chains, as he stated.
For China’s export -oriented economy, the increasing trade constraints could mean that exports contribute less to growth. Other important trading partners Beijings like the European Union had also started last year to protect themselves and their domestic industries in certain industries against the flood of cheap Chinese products with tariffs. An example are electric cars.
Wang: Both sides should meet
“The list of tariffs seems to be getting longer and longer,” said Wang. Washington’s measures would also harm people in the United States and the companies there and are a typical case in which one is a shame without benefiting from themselves. In February, he said, among other things, told the new US Minister of Trade Howard Lutnick, China hope to be able to discuss the concerns at the meeting at a suitable time and promoted the teams on both sides.
dpa
Source: Stern
