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Trump trade war: China tells USA it will defend national interests

Trump trade war: China tells USA it will defend national interests

The United States has not given China a list of actions it wants Beijing to take in order to remedy two-way trade ties, a senior USA official told Reuters on Friday.

A presidential memorandum signed by Mr Trump will target up to US$60 billion (S$78.9 billion) in Chinese goods with tariffs, but only after a 30-day consultation period that starts once a list is published.

In the call with Mnuchin, Liu, a Harvard-trained economist, said China still hoped both sides would remain "rational" and jointly work together to keep trade relations stable, the official Xinhua News Agency reported.

Chilean Finance Minister Felipe Larrain said Friday the current U.S.

"China hopes the United States will pull back from the brink, make prudent decisions, and avoid dragging bilateral trade relations to a unsafe place".

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Those who believe that the dispute is a matter of concern only for the United States and China "are mistaken", he noted. It appealed for dialogue "to avoid damage to overall Chinese-U.S. cooperation".

A ministry statement said the higher USA tariffs "seriously undermine" the global trading system.

It said China a year ago bought about $3 billion worth of the goods affected by the proposed higher tariffs.

China's commerce ministry said on Saturday that China expressed regret at the United States for filing a challenge at the World Trade Organisation (WTO), adding that it has always respected WTO rules.


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