China promises 'necessary response' to USA tariffs as trade war fears grow

China promises 'necessary response' to USA tariffs as trade war fears grow

China's Foreign Minister Wang Yi speaks to the media during a news conference during the National People's Congress (NPC), China's parliamentary body, in Beijing, China March 8, 2018.

China remains committed to non-interference, Wang said, arguing that those in the West who are alarmed by China's growing clout and overseas activity are affected by bias.

Trump addressed trade with China in tweets on Wednesday, demanding that it lay out plans for reducing its trade surplus with the United States by $1 billion, which appeared to have been raised during a meeting with a top Chinese official last week. That left it with a trade surplus of $33.74 billion for the month, and a January-February trade surplus with the United States of $42.92 billion. Our relationship with China has been a very good one, and we look forward to seeing what ideas y come back with.

The trade gap has continued to rise since Trump entered the White House partly because the USA economy is strong and American consumers have an appetite for imported products and the confidence to buy them.

From providing the most peacekeepers of any United Nations (UN) Security Council member to facilitating talks in world conflicts, "the China of today should play a more active role in resolving hot issues in the region and the world", Chinese Foreign Minister Wang Yi said. "But there are few alternative sources for the main products the USA buys from China", the research firm said in a note on Wednesday.

Wang, however, was quick to reiterate that while it follows a responsible approach to the South China Sea issue, China's position in the ongoing territorial dispute remains "firm and consistent" as it subscribes to the interests of the Chinese people, historical facts, regional peace, and the global rule of law.

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Trump is also considering potential trade sanctions against China under a "section 301" investigation into its intellectual property practices and pressure on foreign companies for technology transfers. But Washington has shown little interest in negotiating, with Liu's visit resulting in few major breakthroughs beyond a commitment to further talks on trade issues. His departure leaves "nationalist" advisers like arch China skeptic Peter Navarro, author of Death by China, and Commerce boss Wilbur Ross with the president's ear.

"China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States", Trump tweeted, without saying where the message had been conveyed.

"The lessons of history show engaging in a trade war is never the right way to resolve problems", said foreign minister Wang.

U.S. President Donald Trump pressed ahead with the imposition of 25 percent tariffs on steel imports and 10 percent for aluminium on Thursday. He mistakenly referred to a deficit where China runs a surplus.

A senior South Korean official said the tariffs would impact the renegotiation of the bilateral free trade deal with the United States that is now underway.

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