TRADE WARS
China watching Trump policies, will defend trade rights
by Staff Writers
Washington (AFP) Nov 23, 2016


China will pay close attention to trade policies implemented by US President-elect Donald Trump, and will defend its rights in the World Trade Organization, a senior Chinese official said Wednesday.

In a campaign punctuated by incendiary accusations, Trump promised to declare China a currency manipulator on his first day in office, and threatened to slap 45 percent punitive tariffs on Chinese imports to protect jobs.

The Chinese official meeting in Washington, however, said the US has obligations as a member of the WTO.

"Definitely we have paid close attention to the remarks made by Mr. Trump during his presidential campaign," China's Deputy International Trade Minister Zhang Xiangchen told reporters through a translator.

"And we will also (be) closely observing what he will do after he takes office."

But he seemed to cast doubt on whether Trump would follow through on his threats.

"I think after Mr. Trump takes office he will be reminded that (the) United States should honor its obligations as a member of the World Trade Organization," Zhang said.

When asked if China would retaliate, he said that "as a member of the WTO, China also has the right to ensure its rights."

As for the currency issue, Zhang said economists and government officials agree China is not manipulating its currency, and "significant progress has been made" toward establishing a market-based exchange-rate regime.

US and Chinese officials meeting this week for the Joint Commission on Commerce and Trade, a forum to promote trade and investment and resolve disputes, feel strongly that the bilateral trade relationship will continue to be important "no matter how the leadership changes," Zhang said.

US Trade Representative Michael Froman told reporters following the final JCCT meeting of the Obama administration that the relationship with China is key, but acknowledged there are "headwinds around the world about the benefits of trade and skepticism on the US-China relationship in particular."

He stressed that "the American public expects the relationship be based on a fair and level playing field, and greater reciprocity."

Commerce Secretary Penny Pritzker noted that 11.5 million Americans have jobs that depend on exports, making engagement with trading partners critical.

She said there are differences with China that President Barack Obama's administration has fought to resolve. "What we work on is where we face an unlevel playing field."


Comment on this article using your Disqus, Facebook, Google or Twitter login.

.


Related Links
Global Trade News






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TRADE WARS
Ex-Ericsson executives tell of massive bribery: report
Stockholm (AFP) Nov 23, 2016
Former executives with Swedish telecoms equipment giant Ericsson say the firm shelled out tens of millions of dollars in bribes between 1998 and 2001, the Swedish media reported Wednesday. A former executive named Liss-Olof Nenzell has handed the US Securities and Exchange Commission (SEC) documents relating to the alleged kickbacks, Dagens Nyheter daily and Swedish public radio SR said. ... read more


TRADE WARS
Saudis intercept missile fired from Yemen

US general says missile system in S. Korea in 8-10 months

Yemen rebel missile shot down near Mecca: coalition

US to deploy missile defense to South Korea 'soon'

TRADE WARS
New missile system delivered to Turkish military

Officials announce missile cooperation between U.K., France

Iran missile programme 'non-negotiable': spokesman

USS Carl Vinson test-fires Rolling Airframe Missile, Phalanx

TRADE WARS
DARPA doubles down on Tern by funding 2nd test vehicle

State Dept. approves sale of 26 Predator B drones to U.K.

India's Rustom-II combat UAV completes first flight test

A tethered drone-based asset management solution

TRADE WARS
Intelsat General to provide satellite services to RiteNet for US Army network

NSA gives Type1 certification to Harris radio

Upgraded telecommunications network for Marines

Unfurlable mesh reflectors deploy on 5th MUOS satellite

TRADE WARS
BAE building combat vehicles inspired by ironclad beetles

European Defense Agency helps tackle IEDs

CACI providing ISR services to Navy

MBDA demos laser effector

TRADE WARS
Raytheon announces expansion

U.S. Foreign Military Sales hit $33.6 billion for 2016

After State Dept. blocks the sale, Rodrigo Duterte cancels order for 26,000 U.S. M16s

UK ex-minister says MoD misled him over Saudi arms deal

TRADE WARS
Wooing press, Trump softens climate stance

Russia accuses Ukraine of abducting two soldiers in Crimea

Turkey fires 15,000, shuts 375 NGOs in latest coup purge

Trump team-building exercise eyes Marine legend

TRADE WARS
Researchers use acoustic waves to move fluids at the nanoscale

Researchers use graphene templates to make new metal-oxide nanostructures

Nano-scale electronics score laboratory victory

First time physicists observed and quantified tiny nanoparticle crossing lipid membrane