Trump suggesting China will 'take down' its trade barriers

Trump suggesting China will 'take down' its trade barriers

Xi said Beijing will "considerably decrease" tariffs on automobile imports annually and also facilitate restrictions on foreign ownership at the automobile industry when possible.

Primed for economic combat, President Donald Trump set in motion tariffs on as much as $60 billion in Chinese imports to the US on Thursday and accused the Chinese of high-tech thievery, picking a fight that could push the global heavyweights into a trade war. Beijing threatened to retaliate.

The Chinese leader did not refer directly to that dispute but promised to encourage "normal technological exchange" and to "protect the lawful ownership rights of foreign enterprises".

"This is a problem caused by China, not a problem caused by President Trump", Kudlow said on Fox News Sunday.

Peter Navarro, a trade advisor at the White House, said, "China's reaction to Mr. Trump's legitimate defense of the American homeland has been a Great Wall of denial - despite incontrovertible evidence of Beijing's illicit and protectionist behaviors".

"This is a time in the world where the temptation to embark on unilateralism and protectionism is unfortunately rising", Balakrishnan said.

Singapore Prime Minister Lee Hsien Loong, also speaking in Boao, welcomed Xi's promises.

A researcher with China's state planning agency said China's economy will see little impact from the trade dispute, as the country's vast domestic market can compensate for any external impact.

"We hope that the USA side, with sense and long-term picture in mind, refrain from going further down the wrong path". If that fails, the Chinese government can ask for a ruling from a WTO panel of experts.

Chelsea vs West Ham United
Chelsea enters Saturday in fifth place in the Premier League table with 56 points, eight points behind fourth-place Tottenham. Chelsea went into this game unbeaten in their last 11 home Premier League games against West Ham since a 2-3 defeat in 2002.

Foreign companies complain Beijing is squeezing them out of promising parts of the state-dominated economy to promote the ruling Communist Party's plans to create Chinese global competitors in fields including robotics, electric cars and pharmaceuticals.

Xi gave no details on how those conditions might change, leaving it unclear whether that might mollify Washington.

The Asian markets surged on Monday after Trump's optimistic tweet. 'If the US says that it will pay any price, it must be firmly attacked, ' China's official Xinhua news agency said on Saturday.

The 25 percent tariffs imposed by Beijing in response to Trump have hit USA agriculture hard, especially as they include items like pork and soybeans.

Xi's long-planned speech - marking 40 years after the first economic reforms transformed China - was being closely watched after Trump's plan to hit hundreds of Chinese products with duties. China has pledged to "counterattack with great strength" if Trump decides to follow through on that threat.

China's President Xi Jinping did actually strike a conciliatory tone in a speech Tuesday at which he promised to cut China's auto import tariffs and facilitate restrictions on foreign ownership in its vehicle industry as anxieties play out with Washington in excess of tariffs.

China is evaluating the potential impact of a gradual yuan depreciation as a tool in the trade dispute, Bloomberg News reported on Monday, citing people familiar with the matter, though it said the analysis doesn't mean officials will carry out the move.

Liu He, director of China's Office of the Central Leading Group for Financial and Economic Affairs, left Washington last month after meeting with US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn, who has since resigned.

Related Articles

  • Trump Lobbied Against Proposal to Make Sprinklers Mandatory

    Trump Lobbied Against Proposal to Make Sprinklers Mandatory

    The fire was still not considered to be under control then because of smoke conditions above the 50th floor, Nigro said Saturday. The headquarters of the Trump Organisation are on the 26th floor of the skyscraper.
    Fiji's quest for fourth straight Sevens crown gathers pace

    Fiji's quest for fourth straight Sevens crown gathers pace

    For reaching the finals, Kenya earned 19 points which brings their HSBC World Rugby Sevens Series total points to 83. Japan is also one of two Asian qualifiers that will contest the World Cup Sevens in San Francisco in July.
    Hopping the Wall Into Trump's United States , in Under 2 Minutes

    Hopping the Wall Into Trump's United States , in Under 2 Minutes

    More than 20 people were killed in post-election protests, and Honduras has always been a risky place for activists. And while most here have tales of woe, proving the need for asylum to USA courts is a different matter.
  • CWG 2018: Manika Batra leads Women Table Tennis team for historic gold

    CWG 2018: Manika Batra leads Women Table Tennis team for historic gold

    For Thakur, the medal was a climbdown from the 2014 edition where he had claimed a silver with a lesser lift of 333kg. Defending champion Steven Kari of Papua New Guinea won a second consecutive CWG title with a total of 370 kg.
    Trump Will 'Probably' Skip WH Correspondents' Dinner - Again

    Trump Will 'Probably' Skip WH Correspondents' Dinner - Again

    Trump remains the only president since Ronald Reagan to skip the dinner (and Reagan had a pretty good reason: He had been shot). He deemed last year's correspondents' dinner a "massive failure", prompting Mr.
    If I Return, it's in Octagon

    If I Return, it's in Octagon

    Both fighters walked away with record-setting paydays after Mayweather defeated the debut boxer via a tenth round TKO. He was released from custody on bail of $50,000 with a court hearing set for June 14.
  • US 'will regret it' if it violates nuke deal: Iran

    US 'will regret it' if it violates nuke deal: Iran

    It is common knowledge that ballistic missiles are used as the delivery vehicle for nuclear weapons. Rouhani said that Iran will not be the first country to violate the agreement.
    Pogba offered to Man City? Mourinho responds to Guardiola claims

    Pogba offered to Man City? Mourinho responds to Guardiola claims

    City needed one more win to be crowned league champions with just six games left to go - it had run up a 27-game unbeaten streak. Pogba scored pair of goals and so, Manchester United turned around and with an fantastic victory, they left the ground finally.
    Secret, direct talks underway between US, North Korea

    Secret, direct talks underway between US, North Korea

    US officials were anxious South Korea may have hyped up Kim's openness to putting a denuclearization plan on the table. While Trump is "looking forward to the summit", the schedule could be late May or even early June, CNN said.
  • China to fight U.S.  tariffs at any cost

    China to fight U.S. tariffs at any cost

    The tariffs originated in a US effort to stem the almost $500 billion trade deficit in goods with China . But in a veiled swipe at US President Donald Trump's America First stance, Mr Xi called for openness.
    Iranians killed in missile attack on Syrian air base

    Iranians killed in missile attack on Syrian air base

    Macron and Trump had again reiterated their desire for a "strong reaction" from the worldwide community, Macron's office said. He even included Vladimir Putin, the Russian president in his rage against the chemical attacks on the civilians in Syria.

    'No innocent people' in Gaza Strip: Israeli minister

    A Palestinian farmer was also killed last week the before dawn on Friday, March 30th, the first day of the massive demonstration. Five Israelis - three settlers and two soldiers - were killed by Palestinians in the West Bank during the same period.