China: Trade War With US Would Harm Both Nations
steven
chinatopwin
2017-04-10 09:57:26
China: Trade War With US Would Harm Both Nations
China is warning about the possible effects of a trade war withthe United States.
The warning comes as the world’s two biggest economies takesteps to improve relations under
China is warning about the possible effects of a trade war withthe United States.
The warning comes as the world’s two biggest economies takesteps to improve relations under
the presidency of Donald Trump.
Chinese Premier Li Keqiang spoke to news reporters earlier this week in Beijing. He talked about
Chinese Premier Li Keqiang spoke to news reporters earlier this week in Beijing. He talked about
reasons for the two countries to have good relations. He said he was optimistic about ties, but
warned that a trade war would hurt American businesses.
“We do not want to see any trade war breaking out between the two countries,” Li said.
“That would not make our trade fairer and would harm both sides. Our hope on the Chinese
“We do not want to see any trade war breaking out between the two countries,” Li said.
“That would not make our trade fairer and would harm both sides. Our hope on the Chinese
sideis that no matter what bumps the China-U.S. relationship hits, we hope it will continue to
move forward in a positive direction.”
Getting personal
Recently, Chinese state media have been publishing many stories in support of Li’s position
ontrade. Some have noted that Trump’s businesses would grow as a result of better
economic relations with China.
One opinion piece noted the many business interests The Trump Organization has in China.
One opinion piece noted the many business interests The Trump Organization has in China.
Thecomments were published in the Communist Party-supported Global Times newspaper. Thecomments noted the Chinese government’s “preliminary
approval” of more than 30 Trumptrademarks. Observers were surprised at the approval of
so many trademark requests at one time.
The requests involved businesses such as golf clubs, hotels and restaurants.
The Global Times report agreed with Li that American businesses would suffer if there was a
The requests involved businesses such as golf clubs, hotels and restaurants.
The Global Times report agreed with Li that American businesses would suffer if there was a
tradewar. It said “Trump’s position as U.S. president would not (protect) his business(es) from
a tradewar with China.” It said his businesses would be harmed just as any other American
company would be if relations worsened.
The report said Trump’s political skills will be tested by how he works to keep his promise to
The report said Trump’s political skills will be tested by how he works to keep his promise to
put“America First” while keeping good relations with China.
Tough talk
During the 2016 election campaign and since he took office, Trump has strongly criticized China.
Tough talk
During the 2016 election campaign and since he took office, Trump has strongly criticized China.
This has worried Chinese officials. Trump has talked about many issues, including trade, China’s
activities in the South China Sea and China’s relations with North Korea.
But China is most worried about his threats to name it as a currency manipulator and to
But China is most worried about his threats to name it as a currency manipulator and to
requirelarge taxes on Chinese exports to the United States. He has not taken those actions yet.
But inApril, the U.S. Treasury Department will release a report on currency actions.
This all worries Chinese officials even though the two nations are opening contacts with oneanother.
There were reports this week that Trump and Chinese President Xi Jin-Ping could meet inearly April. On Saturday, Secretary of State Rex Tillerson will make his first trip
to Beijing.
Fairer trade
This week, Acting Assistant Secretary of State Susan Thornton told CNBC television that
Fairer trade
This week, Acting Assistant Secretary of State Susan Thornton told CNBC television that
Tillerson would talk about fair trade.
“While we have a very important economic relationship with China, it hasn’t been a level
“While we have a very important economic relationship with China, it hasn’t been a level
playingfield
vis-à-vis U.S. companies and U.S. interests,” Thornton said. “We are going to be insisting thatthere be fair trade measures that be put in place and that be
observed and implemented.”
Last year, the U.S. trade deficit with China was $347 billion. That was only a little less than
Last year, the U.S. trade deficit with China was $347 billion. That was only a little less than
thetrade deficit in 2015.
Li told reporters that China would continue to open up its economy. He said American
Li told reporters that China would continue to open up its economy. He said American
companiesand others were already benefiting.
“We may have different statistical methods, but I believe whatever differences we may have,
“We may have different statistical methods, but I believe whatever differences we may have,
wecan always sit down and talk to each other, and work together to reach consensus,” Li said.
Hesaid trade and investment between the two countries created more than one million jobs in
the United States last year.
