Power and Norms Rule Trade War with US, Says China

Power and Norms Rule Trade War with US, Says China

Power and Norms Rule Trade War with US, Says China

As U.S. President Donald Trump has threatened to impose tariffs on another $200 billion worth of Chinese goods, China won't be able to retaliate with the same kinds of tariffs.

Meanwhile, the US House Ways and Means Trade Sub-Committee held a hearing on Wednesday 18 July looking at how the Section 232 measures, the separate Section 301 measures targeting Chinese imports, and the duties imposed by various countries as a result of the US tariffs, are affecting American farm and rural communities, given that many agricultural products have been targeted by US trading partners.

The WTO faces collapse after the United States told the organisation last week that the "reckoning" over China's unfair trade policies is urgent and is too big for the WTO to handle.

"The Chinese tilapia industry is heavily dependent on the U.S. market. When handling key issues, it keeps its word and takes responsibility", the spokesperson said.

"Price hikes caused by the increased tariffs would adversely affect these industries".

In total, China and U.S. have more than 300 disputes with different countries and trading blocs, according to the World Economic Forum (WEF).

United States tariffs of 25 percent on $34 billion of Chinese imports took effect on July 6.

But the story won't end there.

The USTR's 205-page list of proposed tariffs published July 10, seen here, includes almost all categories of seafood produced or processed in China as well as many textiles, fruit, minerals, mechanical and industrial goods.

The ministry pointed out that the countermeasures were needed to protect not only the national interests but also the whole system of the global trade.

The country's previous complaint came after the United States slapped levies on Chinese goods worth US$34 billion. USA goods imported into China aren't just facing tariffs, but also stricter quarantines, more spot inspections, and all sorts of delays.

"This is definitely a trade war", said Matt Gold, adjunct law professor at Fordham University and a former deputy assistant USA trade representative for North America.

A public hearing on the latest proposal, to be held at the Washington, D.C. offices of the US International Trade Commission, is scheduled for August 20.

The spokesman went on to say China will stand up to anyone who is willing to damage the free trade system.

The US' national-security rationale for its steel and aluminium tariffs was unjustified, according to the statement, and Mexico's response was a reaction to that.

From the National Association of Farm Broadcasting News Service.

The US wins 87 per cent of the cases it brings to the WTO against other countries and loses 75 per cent of the cases other countries bring against Washington, according to a Bloomberg analysis of the 524 cases lodged at the Geneva-based organisation since it was founded in 1995 as the successor to the General Agreement on Tariffs and Trade.

China is the largest importer of soybeans in the global community.

At the very least, Trump is buying time: it can take months or even years before disputes get resolved through WTO bodies or are settled outside between the sides.

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