China to push forward Belt and Road cooperation: minister

Chinese Minister of Commerce Zhong Shan says a trade war could could shatter global economic growth

"China will take bigger steps to relax restrictions on consumer products coming into the Chinese market, including cars", said Zhong Shan, head of the Ministry of Commerce, during a press conference Sunday at the country's annual legislative sessions.

After pressure from allies, the US has opened the way for more exemptions from tariffs of 25 per cent on steel imports and 10 per cent on aluminium that US President Donald Trump set last week.

"There is no victor in a trade war", he told reporters yesterday. "A trade war will only bring disaster to China, US and the global economy".

He highlighted that different statistical methods widen United States trade deficit with China by about 20 percent, citing the research of a joint work group tracking and comparing the two countries' trade figures.

Part of the reason for the trade gap, Zhong said, was that the U.S. had restricted hi-tech exports to China.

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I was quite nervous, I haven't been in this position for a while and it means the world to me. I told Vern I was struggling to breathe and my legs went numb.

The United States and China are scheduled to hold trade talks in Beijing in the near future.

The Trump administration earlier approved higher tariffs on Chinese-made washing machines, solar modules and some other goods, prompting Beijing to accuse Washington of disrupting global trade regulation by taking action under US law instead of through the World Trade Organization.

He cited American government research that he said showed the figure for the surplus in China's favour overstated by roughly 20% and said that if the USA dropped restrictions on high tech exports to China it would further reduce the surplus by 35%. The country has always been among the top global destinations for investment, but foreign enthusiasm is cooling.

Trump "clarity" on tariff not what EU was looking for Hours after European Union (EU) trade chief Cecilia Malmstrom said she had "no immediate clarity" on whether the bloc will be let off the hook from planned USA tariffs, Trump laid down his conditions and repeated a threat if they're not met.

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