Enero 25, 2020

China minister says trade war with US would be 'disastrous'

12 Marcha 2018, 02:17 | Bibiana Flor

"No immediate clarity on the exact U.S. procedure for exemption however", Malmstrom tweeted after a trilateral meeting with U.S. Trade Representative Robert Lighthizer and Japanese Minister for Economy, Trade and Industry Hiroshige Seko in Brussels.

In an attempt to rectify the United States' trade deficit, President Trump announced last week that he plans to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports.

"China urges the respect the authority of the multilateral trade system, and repeal the measures as soon as possible", it said.

This progress was "unexpected" and a source of cautious optimism on solving the tariff row, an EU official said on condition of anonymity.

Treasury Secretary Steven Mnuchin said the U.S. wants to negotiate exemptions for steel and aluminum tariffs before they take effect in two weeks as pressure grows from allies who are threatening retaliation if the duties are applied to them.

Malmstrom said Friday in Brussels, "We hope that we can get confirmation that the EU is excluded from this". "It is time to halt the damage", Ross wrote. "We want to make sure that for those who are looking to take advantage of American markets that we have the same opportunities in their markets".

Analysts say the Trump tariffs will continue to weigh on local steelmakers as they are heavily dependent on exports to countries such as the United States.

US steel production is off from its highs in the 1970s, but the amount of raw steel produced has remained relatively range-bound since 1983.

Complicating matters, Trump indicated that the sparing of Australia was linked to an unspecified "security agreement" outside of trade policy.

This morning on ABC TV's Insiders, Trade Minister Steven Ciobo said the world faced "choppy waters" over trade and hinted that Australia may support World Trade Organisation action by other nations against the US tariff plan, saying Australia would "practise what we preach on free trade".

The United States and EU previously sought to level the playing field with targeted tariffs. The White House said Trump will consider exempting other U.S. allies on a case-by-case basis.

Katainen said the EU could not address the issue because each of its 28 members set their own defense budgets.

In Brussels, the capital of the European Union, Saturday's meetings appeared inconclusive.

Meanwhile, the European Union said it hoped, like Canada and Mexico, to be exempted from U.S. tariffs, or that it could iron out difference with the the World Trade Organization. "It undermines the benefits that the new tax law provides and runs counter to our goal of advancing pro-growth trade policies that will keep America competitive in the 21st century global economy", Hatch said in a statement. "He is committed to having a very fair and reciprocal military and trade relationship".

China's steel and metals associations urged the government to retaliate, citing imports from the US ranging from stainless steel to coal, agricultural products and electronics. Brazil, South Korea and Mexico are the next largest exporters of steel to the US.

Otras noticias

Tendencias Ahora

Wenger Was Shocked By Referee's Cheeky Response To Injury Time Query — Watch
Dismissing the possibility of alcohol-fuelled festivities, Guardiola said: "Normally there is no alcohol (after a big win)". Pep Guardiola has slapped a drinking ban on his Manchester City stars if they win the Carabao Cup this afternoon.

Novak Djokovic can't match Roger Federer and Rafael Nadal, says Boris Becker
His best performance on the ATP tour was at Delray Beach, losing out in the quarter-final to fellow youngster Denis Shapovalov. Despite not reaching the last eight of any tournament this year, he has beaten Sam Querrey, Frances Tiafoe and John Isner.

Sanctions on North to stay, too early to be optimistic, says Moon
The unidentified officials said a simultaneous computer simulated drill known as Key Resolve would be held from mid to late April. The sixth round of the talks open in February 2007 and North Korea promises to shut its nuclear reactor in exchange for fuel oil.

We forgot to attack, to play — Pep
And according to ESPN , Gunners scouts were in attendance at the Etihad as the Moroccan-born Norwegian international dazzled. For the Swiss side, it's mostly about restoring the pride that was severely crushed on their own ground three weeks ago.

Guardiola says he could not have imagined City title runaway — Soccer
Thereafter, City were quite content to keep possession as Chelsea still refused to abandon their cautious approach. The 23-year-old midfielder added, " Chelsea can play the way they want". "What really matters is to be champions".

Chelsea performance almost perfect for Conte — After Barcelona draw
Conte chose to play Eden Hazard as a false-nine instead of the presumably less-than-fully-fit Alvaro Morata or Olivier Giroud . Sergi Roberto hashed a clearance. "You are just trying to engage with children to drive the passion of football", he says.

F1: Pre-season Testing Finished, Ferrari (NYSE:RACE) Fastest
Alonso proved that all is not lost for McLaren as he laid down a 1:17.784 on the hypersoft tyres to claim second place. On the penultimate day at Barcelona, both Mercedes drivers completed full race simulations - and to ominous effect.

Ramos & Isco Clashed In Real Dressing Room — Reports
He then saw his team struggle to control the game before conceding a 93rd-minute winner to Espanyol striker Gerard Moreno . One stat that will make for grim reading for Espanyol fans is their dismal record against Los Blancos down the years.

Arsene Wenger makes light of his current crisis
Despite the significant changes, Milan remained marooned, lacking direction, treading water with a random assortment of players. Additionally, City broke a legion of passing records as the Blues sat back and were humbled by Pep Guardiola's champions elect.

Bucks slide to eighth place in the East — Milwaukee Bucks Daily
The Rockets had breakdowns Tuesday night, most notably late in the game when they'd largely put the game out of hand. The Rockets' greater depth in offence proved to be the Thunder's undoing, with seven players cracking double digits.