Thursday, 24 May, 2018

China vows 'Necessary Measures' in event of trade war with US

US is disrupting peace in South China Sea, says Beijing China vows 'Necessary Measures' in event of trade war with US
Deanna Wagner | 10 March, 2018, 02:40

US Treasury Secretary Steven Mnuchin said earlier that the Trump administration was hoping to impose new steel and aluminium tariffs as quickly as possible.

"So that if China is going to charge us 25% or if India is going to charge us 75% and we charge them nothing". Trump acted on the tariff matter after months of talking up an issue that has been his pet peeve for decades, going back to his days as a young businessman, although the consensus among economists was it would hurt more United States workers than it will help.

Trump said the "reciprocal tax" programme would ensure "fair trade deals" for the US. The US President even mentioned that the country was losing $500 billion a year to China for which there was a need to do something.

Disregarding the region's clarion call for cooperation, under the pretext of upholding freedom of navigation, the United States has repeatedly sent warships to the disputed waters in the South China Sea, where their intrusive and accident-prone operations pose a threat to shipping and unnecessarily put the region on edge.

"China says its got two per cent, but it sends much more".

During the Olympics, North Korea had stopped its missiles tests and the United States and South Korea had halted military drills, and this proved China's proposal for a "dual suspension" was correct to improve relations, he said.

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Wang told a briefing on the sidelines of China's national legislative session Thursday that the designation included in recent Trump administration national security documents was "fundamentally wrong". "We can not allow this to happen as it has for many years!" For instance, inasmuch as Trump has said ad nauseum that foreign imports have destroyed the American steel industry ("and a country that has no steel industry is not a country to speak of"), tariffs on imported steel will affect more workers in the U.S. auto industry (which depends on imported steel) than it will benefit domestic steel workers, who in any case produce steel at higher cost than the imports.

Speaking for the first time on bilateral ties this year, Wang said the worldwide situation is experiencing its biggest change in a century and China and India must do everything to emphasise this and support each other and avoid mutual suspicion and attrition.

"And they trans-ship, and were going to accept their product, but its going to cost a lot of money from the standpoint of the trans-shipper", he added.

"Were in the midst of a big negotiation". They have been very helpful. "A lot of respect", he said.

"During the Pyeongchang Olympics the DPRK (North Korea) did not conduct any nuclear test and the United States and ROK (South Korea) suspended joint exercises. proving that China's proposition of suspension for suspension was right for the problem".

"But we're going to cut down the deficits one way or the other". He said mutual trust is the most precious commodity in the China-India relations.

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