China Stresses Capacity to Counter US Protectionism

One of the many houses built by the tycoon

One of the many houses built by the tycoon

In mid-March a year ago, China banned the sale of package tours to South Korea and took other measures unfavorable to South Korean companies following the installation of a Terminal High Altitude Area Defense battery in southeastern South Korea.

Tariffs would cause an annual economic loss to the United States of between $1.7 billion and $3.3 billion, according to a study conducted by Purdue University on behalf of the US soybean Export Council.

Faced with the prospect of a U.S. The Wall Street Journal said USA officials have submitted a list of market-opening requests covering autos, finance and semiconductors.

"We need to work aggressively convince the Chinese that some of these barriers need to go down and we need to have more fairness and reciprocity in the whole trade relationship", Branstad said.

"It's more about (Chinese) subsidies, IP protection, and cyber rules", the source said, referring to concerns over Chinese retaliation. "But, China is not afraid of and will not recoil from a trade war".

China's commerce ministry said on Thursday the USA approach to trade could trigger a domino effect and US trade protectionism will only hurt USA consumers. The spokesperson of the Ministry of Trade, Gao Feng, told journalists his country is ready to neutralize the consequences of Washington measures and proceed with all pertinent actions to defend its national interests.

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"Negotiations must be equal, and China will not accept any consultation under unilateral coercion", Gao said.

The ongoing trade dispute between the United States and China will negatively impact some segments of Taiwan's economy, but could also help open up the Chinese market and provide an opportunity for Taiwan to strengthen its economic resilience, a senior official said Thursday.

The tariff list is expected in the next several days.

"And should the Trump administration further obstruct Chinese investments in the US, even tougher measures such as restrictions on imports of USA services and similar investment reviews would likely be on the table", it said.

Soybeans were the top USA agricultural export to China a year ago, worth more than $12 billion.

China's Commerce Ministry urged Washington on Thursday to discard planned tariffs it warned might set off a chain reaction that could disrupt global trade and said Beijing will "fight to the end".

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