[ad_1]
The spokesman of the Chinese Ministry of Commerce Gao Feng
The United States "opens fire on the whole world, including themselves" by threatening to increase tariffs, and China will respond when the measure comes into force, as this decision will hurt global supply chains, the Chinese Ministry of Commerce warned on Thursday.
Taxes on $ 34 billion worth of Chinese products are expected Midnight and one minute into Washington on Friday at 12:01 am, the US sales representative confirmed in an email on Thursday, according to Bloomberg News.
Chinese Ministry of Commerce spokesman Gao Feng said Thursday that 59% of the $ 34 billion of Chinese imports targeted are produced by foreign-invested enterprises in China.
"If the list comes into effect on July 6, the United States will impose in the taxes to Chinese and foreign companies, including US companies, "Gao said. "These measures will undermine global supply and value chains.
The General Administration of Customs of China also announced that China would impose taxes on US imports immediately after the entry into force of US tariffs.
These remarks were made a day before planned entry into force of 25% tariffs on Chinese products, as announced by the United States.
China's financial system is stable, systemic risks are under control thanks to growth social security and the highest profitability of listed companies in the first half, explained Guo Shuqing, Party Secretary of the People's Bank of China, the country's central bank, and Chairman of the Banking and Insurance Regulatory Commission of China. China, in an interview with the bank's newspaper, Financial News.
"The country's economic foundations show that it is unlikely that the yuan will die in a substantial way, "he said in response to a question about the impact of Sino-US trade tensions on the global financial system.
" As a gradually internationalized reserve currency, the yuan will become stronger , and experience has shown that some sales of international speculators to obtain exorbitant profits have failed because of a misinterpretation of the situation.
China has said it will not be the first shot in the event of a trade conflict with the United States. "However, if the United States implements its tariff increase, China will be forced to retaliate to defend the fundamental interests of the nation and the people," Gao said.
He reiterated that China would not bow to threats or blackmail, and would not deviate from its determination to safeguard free trade and the multilateral system.
China's foreign trade is expected to remain stable in the second half of the year thanks to the country's new policies to improve the quality of its shipments, cultivate new business models and diversify sales channels in emerging markets
China is not the type to cause friction that could escalate into a war Chinese Foreign Ministry spokesman Geng Shuang said on Thursday, "No country will win a trade war, it will not to the interests of industry and consumers, "Geng said at a press briefing.
Experts say the Trump administration's stance on launching a trade war challenges world order in a way the world had not known before.
"We will have no choice but to increase the price of our products on the American markets because of the taxes imposed by the administration. Trump, "lamented Qi Jun, chairman of the Construction Machinery Manufacturers Association in Beijing.
China shipped $ 2.4 billion worth of construction machinery, including excavators, bulldozers, pipe laying machines and rollers, in the US market in 2017. This represented 10% of the total volume of the country's exports in this sector.
The Trump administration's decision to impose taxes on Chinese products will be a blow to the work and efforts of China and many other countries for a slow and fragile global economic recovery, warned Chen Wenling, chief economist of the China Center for International Economic Exchanges.
, the US government's strategy totally disregards the rules of the World Trade Organization, as it arbitrarily imposes tariffs on other countries by invoking its domestic laws and widens conflicts through intimidation and retaliation
Trade barriers erected by major economies could hinder global economic recovery, the WTO warned Wednesday in a report on trade restrictions between G20 countries.
The director general of the G20 OMC Roberto Azevedo said in a statement that the escalation of tensions posed a serious threat to growth and recovery in the world. us the countries. He added that the organization was starting to see some reflections in some forward-looking indicators.
<! – enpproperty
[ad_2]
Source link
