China files WTO challenge to Trump's US tariffs threat

Aaron Brown
July 17, 2018

Another big issue dividing Europe and China is intellectual property.

According to Reuters, Mass added that "Europe must not let itself be divided however sharp the verbal attacks and [however] absurd the tweets may be".

Thus, it is expected that the summit results in a greater consensus between the parts and achieve to advance in their business plans, as they need to expand access to their respective markets as a countermeasure to the barriers raised by the United States.

The EU, while sharing Trump's concern over Chinese trade abuses if not his prescription of tariffs, has largely rebuffed efforts by China to pressure it into a strong stance against Trump. "The data shows that global trade headwinds have yet to grip China's economy", Tom Rafferty of the Economist Intelligence Unit said, as quoted by the Financial Times.

EU Council president Donald Tusk warned that trade wars can turn into "hot conflicts" in his opening statement at the EU-China Summit on Monday.

Trump triggered fresh concerns from European Council President Donald Tusk at an EU-China summit in Beijing, and from EU foreign ministers in Brussels, one of whom urged the United States president to stand up for non-EU Ukraine and Georgia against Russian Federation.

On the eve of his meeting with Russia's Vladimir Putin, Trump on Sunday rattled allies once more by labeling the European Union a "foe" with regard to trade.

Pledging more reform and opening-up outcomes, Xi said China and the European Union should follow the trend of world multi-polarization and economic globalization, increase strategic communication and coordination, join hands with each other to safeguard multilateralism and the rule-based system of free trade as well as an open world economy, push ahead with trade and investment liberalization and facilitation, improve global governance and promote the cause of peace and development.

"I am calling on our Chinese hosts, but also on presidents Trump and Putin, to jointly start this process from a thorough reform of the WTO (World Trade Organization)", he said.

The Canadian government said its tit-for-tat tariffs are allowed under the rules of the WTO and North American Free Trade Agreement.

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They will hold talks with senior Chinese officials, including President Xi Jinping and Premier Li Keqiang.

"We can not accept that through unilateral attacks, the multilateral system should be damaged", he said, also stressing the need for WTO reform.

The federal Liberal government introduced reciprocal duties earlier this month on some USA imports after the White House slapped Canada and others with tariffs on steel and aluminum.

China's lopsided trade balance means it will run out of US imports for penalty tariffs before Washington does.

Washington last week threatened more measures on another $200bn in Chinese goods.

The move is unusually swift, coming less than one week after the U.S. Trade Representative proposed 10 percent tariffs on a $200 list of Chinese goods.

The back-and-forth has heightened fears that trading powers will hunker down into a destructive all-out trade war that could hit global growth.

Trump accuses China of unfair trade practices, such as subsidizing certain industries and ripping off American intellectual property.

Despite the slowdown, China's trade surplus with the United States hit a record high in June, widening to $29bn, from $24.6 in May.

"Now that the world economy is deeply integrated, industrial chains have become globalised, and many related countries also will feel an impact".

Other reports by Free-Prsite

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