China and the USA are engaged in a trade war in which they have slapped 25 per cent tariffs on US$34 billion of each other's products.
Since March, Trump has ratcheted up pressure on China and traditional allies, imposing tariffs on scores of billions of imports in steel, aluminum, washing machines, solar panels and broad swathes of Chinese manufactured goods and machinery.
Canada's Foreign Affairs Minister Chrystia Freeland has called Washington's metal tariffs absurd and illegal because they've been applied on the premise that Canada represents a national security threat to the U.S. Ottawa's response has been $16.6-billion worth of countermeasures on imports of American steel, aluminum and consumer products.
Here's a look at the WTO, and what its role will be in the trade tussle. The Chinese yuan also dipped on the data but only briefly.
While China takes advantage of WTO protections for its goods exports, it has been criticized for not upholding WTO rules requiring enforcement of trademarks and patents, and for subsidizing selected domestic sectors.
Tusk called for the US, Russia and China to work together to cool the dispute. United States exports to China were only about $130bn previous year. Up to now Beijing has waited for the United States to "fire the first shot" in the escalating trade war.
Both the U.S. and European Union urged China to open up its market and allow fair competition for its SOEs in their comments to China's seventh trade policy review by WTO.
Trade is skewed in favour of China at a trade surplus of $63 billion.Читайте также: Trump and Putin test ties in Baltic showdown
China could also seek to lower the exchange rate of its currency against the dollar.
Investors fear a prolonged trade battle with the U.S. could harm business confidence and investment, disrupting global supply chains and harming growth in China and the rest of the world.
China's $12.5tn economy expanded 6.7% in the second quarter compared to the same period a year earlier, in line with expectations but still signalling modest growth by recent Chinese standards.
The federal Liberal government introduced reciprocal duties earlier this month on some USA imports after the White House slapped Canada and others with tariffs on steel and aluminum. "Europe and China are the world's largest and third-largest economies".
In a sign Beijing is seeking alternative supplies of the commodities as it hit USA imports with extra tariffs, China had dropped import tariffs on a range of animal feed ingredients from several Asian countries.
Likewise, China has been in the crosshairs of Trump's tariff threats for months.
The data could renew longstanding criticism from the United States and Europe that the world's top metal producer is selling its surplus product overseas, hurting foreign rivals.
But Mogherini, speaking to reporters upon arriving for talks with European Union foreign ministers, said Europe has many other friends in the world, citing in particular Japan, with which it is signing a massive trade deal on Tuesday.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.
Код для вставки в блог