China warns Trump trade sanctions threaten global economy

BEIJING: US trade sanctions will hit the sector financial system, Beijing warned on Wednesday, after President Donald Trump threatened to impose fresh tariffs on imports from China.

Trump stated he was "considering all options," including tariffs and quotas, after he accused China of decimating the American metal and aluminium industries.

Washington has already imposed a range of tariffs on Chinese-made goods, sparking fears of a tit-for-tat trade conflict between the sector's top two economies as China also threatens to take action.

Foreign ministry spokesman Geng Shuang informed newshounds that "any sign of unilateralism or protectionism will ... worsen global trade issues and will hurt the recovering momentum of the world economy".

He added that with the sheer quantity of trade and integration between america and Chinese economies, some friction was natural.

However, "China always regards the US as an important cooperation partner in trade and economy, and we hope we will continue to open our respective markets wider", Geng stated.

The Trump administration has two months to make a decision whether to take action on Chinese aluminium, metal and intellectual assets practices.

China produces around half of the sector's metal however stands accused of "dumping" reasonable metal on international markets to gain marketplace proportion.

The two international locations have already begun buying and selling sanctions in what China's trade ministry warned could become a "vicious circle".

On Monday, Beijing announced it had taken goal at imports from america of styrene, a key chemical in the manufacture of styrofoam.

Last week it launched an anti-dumping investigation into sorghum imports from america, price almost $1 billion final yr.

The measures come a month after the Trump administration slapped new tariffs on Chinese-made sun panels and washing machines, the latest in a sequence of trade cases that experience rattled Beijing.
China warns Trump trade sanctions threaten global economy China warns Trump trade sanctions threaten global economy Reviewed by kailash soni on February 15, 2018 Rating: 5
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