China says trade war with United States would bring disaster to world economy

California bound Trump heading to state he loves to hate

China has repeatedly vowed to defend its "legitimate rights and interests" if targeted by USA trade actions.

Any trade war with the United States will only bring disaster to the world economy, Chinese Commerce Minister Zhong Shan said on Sunday, as Beijing stepped up its criticism on proposed metals tariffs by Washington amid fears it could shatter global growth.

Chinese leaders have threatened in the past to retaliate against raised trade barriers, but have yet to take direct action following Trump's announcement.

Zhong added that the USA trade deficit with China is overestimated by about 20%, citing research by a panel tasked with investigating the discrepancy between the two nations' accounts of their trade balance.

Calling steelworkers the "backbone of America", Trump called steel vital to U.S. national security.

Part of the reason for the trade gap, Zhong said, was that the United States had restricted hi-tech exports to China. He instead blamed the imbalance on United States controls over high-tech exports to China.

While he declined to say how Beijing planned to respond to the tariffs imposed by Washington on aluminium and steel imports, he said the two sides remained in talks on the issue.

Shoe thrown at Nawaz Sharif in Lahore madrasa
The incident happened when Sharif arrived to attend an event at the Jamia Naeemia seminary in Garhi Shahu. The situation became very tense after the incident.

South Africa's Elgar, Amla grind out half-centuries
Kazi and Eksteen were then contacted by the fans and met them at the gates, where it was decided that they would be allowed in. In the incident, a clearly angry Warner had to be restrained by team-mates as he argued with de Kock.

Khloé Kardashian Reveals How To 'Look Thin AF' In Photos!
Each guest had a hand written place setting and a tiny model elephant that stood next to a white plate with a pretty pink napkin. Khloe had fancy cakes made for her Celebrity Big Brother star pal which had unicorn horns on top of them.

"He cited American government research that he said showed the figure for the surplus in China's favour overstated by roughly 20 percent and said that if the United States dropped restrictions on high tech exports to China it would further reduce the surplus by 35 percent".

Liu He, Chinese President Xi Jinping's top economic adviser, visited Washington earlier this month in an attempt to smooth strained ties.

Should the situation worsen, however, Zhong said that China was more than ready.

China absorbed $136.3 billion in foreign investment previous year.

"We have noticed that some foreign-funded businesses have complained about China's investment environment", Zhong said.

The commerce minister reiterated Premier Li Keqiang's promise on Monday to liberalize the manufacturing industry and expand the opening up of sectors such as medical care, education and new energy vehicles.

Related News:



Most liked

Man United plan summer move to sign FC Barcelona star
SPORT add Barcelona are convinced they will get the approval from Umiti that he will stay, but they want him to lower his demands. According to Sport Yannick Umtiti , the brother and agent of the player, is constantly engaged in discussions with United.

U.S. official ties tariff relief to North Atlantic Treaty Organisation payments
Malmstrom told reporters the European Union is ready to complain to the World Trade Organization and retaliate within 90 days. As per estimates, India exports steel and aluminium goods worth United States dollars 2 billion to the USA every year.

Tiger Woods one off Corey Conners' lead at Valspar Championship
This is the 70th time Woods will be tied or within one of the lead entering the final round; he won on 62 of those occasions. Still, Tiger Woods will tee off on a Sunday in the second-to-last group, just one stroke off the lead.

Australia to Secure Exemption from US Tariffs
Earlier Mr Trump took to Twitter to praise Australia's commitment to a fair and reciprocal trade and military relationship. Gosar believes they can be an effective bargaining chip in renegotiating the North American Free Trade Agreement .

Gary Cohn's A 'Globalist,' But I Still Like Him
Cohn announced his resignation on Tuesday, after an unsuccessful bid to prevent the President's promised tariffs on foreign metals.

Villanova Tops Providence In OT For 2nd Straight Big East Title
Edwards' ability to slow Brunson's dribble penetration was a big reason why Providence held Villanova to 60 points in regulation. In a game that will help pad his case for national player of the year, Brunson was an ice-cold assassin for Villanova (30-4).

Sridevi passed away in grief, according to her uncle
There are also reports that Boney will be conducting prayers at Sridevi's hometown on the 16th day. Buzz has it that Sridevi's relation with her immediate family had never really been peaceful.

Kejriwal invites Delhi Cong, BJP chiefs for all-party meet over sealing
The sealing drive by Delhi Municipal Corporation has disrupted the general lives of traders. "We will put pressure on the central government".

Donald Trump unveils campaign slogan for 2020 - Keep America Great
He singled out Chuck Todd, anchor of the Sunday talk show Meet The Press, as a "sleeping son of a bitch, I'll tell you". Trump said if he runs again - which is " almost positive " - he can not use his " Make America Great Again " tag line.

Oppo to launch F7 in India on March 27
It will be equipped with a lot of additional modes to capture the best of photographs using the front camera of the device. When asked by the users, we are pretty much known about the release date for this smartphone as well.

Peter Navarro, aide behind trade war, rises to top of Team Trump
Beijing vowed to "firmly defend its legitimate rights and interests". "This is very normal", financial analyst Ye Tan said. Some products under consideration are largely produced in constituencies controlled by Trump's Republican Party.

UP and Bihar bypolls updates | Adityanath casts vote
Much is at stake both for the ruling party and the Opposition as the prestigious Gorakhpur and Phulpur seats go to poll on Sunday. On being asked about the BJP's expansion plans in the State in view of the electoral understanding between SP and BSP, Mr.

Wizards-Pelicans,1st Ld-Writethru
Fortunately for the Wizards, the team had two days off between games, which allowed Porter to receive treatment. But, it appears that the injury isn't too serious, as he may be able to return as soon as Sunday.

Australian Prime Minister Praises US Decision to Exempt Canberra From Tariffs
The tariffs carved out an exemption for Canada and Mexico, and allow other nations to argue for similar exceptions. Trump campaigned on a promised to bring back American jobs and place American interests first.

Outraised and outhustled, is Sen. Ted Cruz losing his mojo?
Cruz points to the fact that he received 1.3 million of the 1.5 million Repubican votes cast Tuesday while Democrat Rep. And he already has a strategy - going after Representative Beto O'Rourke's policies record nickname.