Chinese, US senior officials highlight cooperation to settle trade disputes

Posted March 05, 2018

The duties are set to take effect as early as next week.

How much China spends on its armed forces is closely watched around the region and in Washington for pointers about the country's broader strategic intentions amid an impressive modernisation programme that has included developing stealth fighters, aircraft carriers and anti-satellite missiles. Trump added, "I think it's great". "If other countries follow the practice of the US, it will have a serious impact on worldwide trade order."All countries should work together to figure out solutions instead of unilaterally taking trade restrictions", said Hua, quoting Wang".

"Regrettably, some in the West in their bodies may have entered the 21st century, but their brain is still stuck in the Cold War era". "Now they will be inclined to wonder whether it is really China or the U.S. that poses the greater threat to the world trading system".

NPC spokesman Zhang Yesui told a news conference that the move will merely align the presidency with the titles of Communist Party general secretary and Military Commission chairman, which do not have term limits.

But as the world's biggest exporter, China may choose to keep its response more muted to try to avoid a trade war, and claim the moral high ground as the defender of the global trading system.

China has urged USA to remain restrained on trade protection, obey multilateral trade rules and make positive contribution to maintaining worldwide trade order.

"It doesn't spell out exactly how the United States will pursue these goals, but it is quite a clear and ambitious agenda for reform of the WTO", said Edward Alden, a trade expert at the Council on Foreign Relations.

President Donald Trump has taken a tough line in the Administration's second annual trade policy agenda, emphasising "aggressive" enforcement of USA trade laws and limiting the role of the World Trade Organization (WTO).

The impact of the step hinges in part on which nations will be affected, said Alex Wolf, senior emerging markets economist at Aberdeen Standard Investments in Hong Kong who previously worked at the U.S. State Department. Over the past 13 months, the Commerce Department has initiated 102 anti-dumping and countervailing-duty investigations, almost double the prior-year figure. Ron Moore with the American Soybean Association says China is the number one customer for us soybeans and a trade war would be detrimental. Wang did not comment directly on Trump's tariff announcement. Chinese officials have threatened to take "necessary measures" to defend their country's interests.

But U.S. officials and companies have been frustrated by a lack of implementation.

The adviser, Liu He, said he will take charge of reform efforts this month and wants a list of USA demands for what China could do to ease tensions, according to the person.

"We discussed ways to ensure fair and reciprocal trade", a White House official said in a Reuters report.