China Appeals to US Over Tariffs

March 20, 2018 Share Print 0

Chinese Premier Li Keqiang appealed to Washington on Tuesday to “act rationally” and avoid disrupting trade over steel, technology and other disputes, promising that Beijing will “open even wider” to imports and investment.

“No one will emerge a winner from a trade war,” said Li, the No. 2 Chinese leader, at a news conference held during the meeting of China’s ceremonial legislature.

Li made no mention of a possible Chinese response in the event U.S. President Donald Trump raises import barriers over trade complaints against Beijing, but other officials say President Xi Jinping’s government is ready to act.

Trump’s government already has raised import duties on Chinese-made washing machines and other goods to offset what it says are improper subsidies and is investigating whether Beijing pressures foreign companies to hand over technology, which might lead to trade penalties. That has prompted fears of Chinese retaliation.

“What we hope is for us to act rationally rather than being led by emotions,” said Li. “We don’t want to see a trade war.”

via Mainichi

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.