Good Articles to Share
China says all trade progress is off if US imposes tariffs
BEIJING: All commitments made so far in talks with the US over trade will be withdrawn if President Donald Trump carries out his threat to impose tariffs, China said Sunday.
While both sides reported some progress in discussions this weekend about how to reduce China’s US$375bil goods-trade surplus with the US, Trump’s revival last week of a plan to slap tariffs on US$50bil of Chinese imports has cast the talks into turmoil.
“If the US rolls out trade measures including tariffs, all the agreements reached in the negotiations won’t take effect,” state-run Xinhua News Agency reported yesterday, citing a statement from the Chinese team that met with a US delegation led by Commerce Secretary Wilbur Ross.
The Xinhua report came after Ross met Chinese Vice-Premier Liu He yesterday for talks that Ross called “friendly and frank, and covered some useful topics about specific export items”.
At the same time as negotiators focus on technical steps to reduce the US deficit, Trump’s swerve has rattled Beijing as it raises the possibility that any agreement made could be simply torn up by the president.
“China is concerned over the US’s unpredictability, especially after Trump turned an about-face on tariffs,” said Gai Xinzhe, an analyst at Bank of China’s finance institute in Beijing. “Trump needs to give out more goodwill in exchange for really productive negotiations. Bluff, threat, and willful moves might work in business bargaining, but they could backfire in talks among nations.”
A commentary by state-run China Radio International said that the government’s stance on cancelling any agreements reached in the talks if Trump’s tariffs go into effect was a “red line”. — Bloomberg
More articles on Good Articles to Share
Billionaire Charoen’s ThaiBev to exit Singapore-based Frasers Property
Created by Tan KW | Jul 18, 2024
Prabowo's nephew to be appointed Indonesia deputy finmin, his party says
Created by Tan KW | Jul 18, 2024
Usha Vance, wife of Trump's VP pick, takes stage at Republican convention
Created by Tan KW | Jul 18, 2024
Vice President candidate Sen. J.D. Vance speaks at Republican National Convention
Created by Tan KW | Jul 18, 2024
Discussions
Be the first to like this. Showing 1 of 1 comments
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
CEO Morning Brief
PGF Capital to Distribute Thermal Insulated Panels for Data Centres
2
The Alpha Trader
4
Bimb Research Highlights
5
南洋行家论股
6
Bimb Research Highlights
7
BFM Podcast
8
Rakuten Trade Research Reports
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ks55
Sure lah.
To negotiate with Donald duck?
Today ok, tomorrow tak ok.
Such flip-flop character how to trust?
Ross came to Bejing just for show.
Nothing concrete and there is no basis to talk.
Wait for US to impose 25%, then counter with 25% from China.
US farmers all die, China pig farms go for Brazil and Argentina.
After that, say bye-bye to US Mid-west farmers.........
2018-06-04 16:26