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ASA's Heisdorffer Testifies on Importance of Trade with China

April 17, 2018 17:02·
Image Neihan Duanzi

Image Neihan Duanzi

During the first quarter, the levels of PM2.5 in the Beijing-Tianjin-Hebei region, which has been under heavy political pressure to tackle pollution, dropped 22.1 percent to 74 micrograms per cubic metre, down from near record highs in the same period of a year ago.

That sent its quarterly trade surplus with the U.S. surging 19.4 per cent to US$58.25 billion (RM225.6 billion), though the March reading narrowed to US$15.43 billion from US$20.96 billion in February.

That produced an unexpected trade deficit of $4.98 billion for the month, but such shortfalls are not uncommon for China early in the year, again likely due to holiday distortions.

Ye Xiaqing, with the China Household Electrical Appliance Association, said that so far, only 5 per cent of household appliance exports to the United States were affected by the proposed increase in tariffs. But they seem surprised and confused by Mr. Trump's rapid-fire decisions and trade threats, like the move to impose punitive tariffs on an additional $100 billion in Chinese imports, according to many who have met with them.

The stand-off lies in the Trump administration's ire at massive levies and what it considers unfair practices by China that he says are costing American jobs.

Chinese President H.E. Xi Jinping delivered the keynote speech at the opening ceremony, stressing that all countries should conform to the trend of the times, [be dedicated] to openness and win-win outcomes, be courageous to change and break new ground and keep striving for a community with a shared future for mankind.

A major smog indicator in China's heavy industrial Beijing-Tianjin-Hebei region rose by more than a quarter in March, the Ministry of Ecology and Environment said on Friday, raising concerns that pollution is increasing with the end of winter output restrictions.

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"Ultimately U.S. industry will be looking for implementation of long-stalled economic reforms, but actions to date have greatly undermined the optimism of the U.S. business community", said Jacob Parker, vice president of China operations at the US-China Business Council.

He said he will reduce tariffs on cars imported into his country. "And I don't blame China; I blame our representatives that - our people over the past, our Presidents and negotiators and trade representatives - that they allowed this to happen", he said.

"If they impose tax on the household appliances, they're going to raise the price and that will affect the citizens of the United States in the end", said Chau, the Dongguan factory owner.

That will help USA automakers. China will continue to adhere to its fundamental national policy of opening-up and pursue development with its door wide open.

State media said the fleet review included 48 ships, among them China's sole operating aircraft carrier, the Liaoning, along with 76 helicopters, fighter jets and bombers, and more than 10,000 personnel, making it the largest since the founding of the People's Republic of China in 1949.

"When you're $500 billion down, you can't lose a trade war", he said. "And, you know, at a certain point, they run out of bullets".

USA efforts to boost exports of technology-based goods, begun under Trump's predecessor, Barack Obama, conflict with China's plan for state-led development of global competitors in fields from robotics to electric cars. China exported $137.8 billion worth of high-tech products in the first quarter, up 20.5 percent on-year.

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