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Upping the Trade War with China

Upping the Trade War with China

Donald Trump, last month imposed tariffs on Chinese goods in what he said was protection against Beijing's trade abuses. Since the entry into the WTO for 17 years, China's initial heart has remained unchanged and its words and deeds have been the same.

"China is willing to work with relevant members to jointly safeguard the authority of the multilateral trading system", the official added. An Airbus-Boeing dispute, for example, took more than a decade to produce a final ruling. "The trade war will deal a blow to global trade growth", Hua was quoted as saying by Efe news.

Members are barred from discriminating against each other in their trade practices, meaning China's exports were shielded from protectionist moves by other countries.

China-US trade dispute: what role does the WTO have to play?

China should also make the yuan exchange rate "more flexible" - a hint that Beijing might allow a greater yuan appreciation - and improve capital account controls to minimise impacts from "the United States dollar and USA monetary policy on Chinese monetary, financial and economic situation". It also highlights Beijing's efforts to make coal a lesser part of its overall energy mix, along with reducing the role of fossil fuels overall, though coal still provides over 60 percent of China's energy.

Industrial capacity, he said, was a collective problem, while also highlighting the difference between being a major steel producer, like China, and a major steel exporter, like others.

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"To fight United States trade protectionism, [we] should make use of the different interests among countries to deepen economic cooperation with Japan, the European Union, the Association of Southeast Asian Nations, Japan and Russian Federation", the report said. According to a Geneva trade official, the United States disagreed with Wang's claims of compliance with adverse dispute settlement rulings, as well as the Chinese official's description of improved domestic enforcement of intellectual property rights.

Hua said the trade frictions, initially provoked by the United States, are, in fact, a war between unilateralism and multilateralism, protectionism and free trade, as well as power and rules.

China can not match this added tariff in direct parallel fashion - Since the USA only exports about $130 billion to China per year.

China has taken the case to the World Trade Organisation for arbitration, but it has not yet announced any specific countermeasures.

On the home front, the think tank suggested that China boost domestic consumption by freeing up restrictions on private investment in areas like health care, education, tourism and social security.


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