China refutes U.S. accusations on tariffs, intellectual property issue

Gladys Abbott
July 21, 2018

USA importers of Chinese goods and components should be aware that the United States Trade Representative (USTR) has posted instructions for seeking exclusions for imported Chinese goods from the 25% tariffs on Chinese imports.

These disputes between nations are handled by the World Trade Organisation (WTO), the global organisation that deals with the rules of trade between nations.

"The United States is holding a tariff bar and practicing trade-bullying worldwide, while advertising its grievances and innocence, and shifting the blame onto others in the meantime", Gao said. The agency reports claimed that these imports were putting national security at risk.

With business demand being potentially hit, the right way for China to respond to the trade war is for it to ease its monetary policy or to enact fiscal measures, they suggested.

Meanwhile, the U.S. has lodged over 100 complaints with the WTO in respect of imports or the trade policies of nine countries as well as the EU.

China and the European Union (EU) on Monday agreed to jointly work to safeguard the rules-based worldwide order, promote multilateralism and support free trade.

The U.S. and China are locked in a trade war over American complaints that Chinese companies steal trade secrets and force U.S. firms to hand over technology in return for market access.

"It's a trading system that is showing strains and clearly needs to be modernized, and yet we're breaking a lot of dishes instead of building anything new".

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Mexico said it would defend its retaliatory measures, saying the imposition of US tariffs was "unjustified".

Included in the products that the United States is now fighting trade disputes over are Argentinian textiles, Indian solar panels, and European cheese. Eight trading partners - China, India, the EU, Canada, Mexico, Norway, Russia and Switzerland - have so far filed complaints to the WTO against the U.S. steel and aluminium tariffs.

It said "The US measures are inflicting serious damage to the rules of the worldwide trade and undermining the legal rights and interests of the WTO members, including China".

Republican North Dakota Gov. Doug Burgum said soybean growers in his state have an enormous stake in the US trade confrontation, as commodities markets recoil from the threat of retaliatory tariffs.

Some trading partners have already issued public responses to the United States consultations requests.

Beijing believes that the series of tariffs imposed by Washington will "drag the world economy into danger" and weaken confidence at the global level, Foreign Ministry spokesperson Hua Chunying said at a press conference here. "Rather, the solid trading relationship between Mexico and the USA has led to an integrated regional market where steel and aluminium products support the region's competitiveness in various diverse strategic sectors, such as automotive, aerospace, electric, and electronic", the statement continued. That tactic was used in disputes with other Asian countries.

"What makes them nervous is once you lose these markets, they're going to be hard to get back", he said. Now the Commerce Department is pursuing another, bigger national-security case against auto imports.

From blue jeans to motorbikes and whiskey, the EU's hit-list of products targeted the most emblematic of American exports.

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