China unveils list of potential retaliatory tariffs on U.S. goods

China Sets up State Monitoring Agency With Sweeping Powers to Detain

"If China retaliates on a very large scale, then the impact on the American economy is going to be much greater than if they don't", he said. "And obviously Korea, where we're negotiating, of course", said Lighthizer. "Or, if China buys a certain number of Boeing aircraft should the USA buy an equal number of C919s?" Chinese Ambassador Cui, in his interview with state television, called the USA accusations "groundless" and discrimination against Chinese companies.

China and the United States clashed on Friday at the United Nations, where the U.S. delegation rejected a resolution brought by Beijing that it said sought to glorify Xi Jinping's "win-win" agenda and subordinated human rights to development or trade.

That concept often gets lost in the hard-knuckle nationalism of today's trade battles, especially when countries like China set forth big goals to dominate specific industries by nearly any means. "He has apparently miscalculated the situation and underestimated China's resolve and capability to defend its own legitimate rights and interests as well as the price the U.S. has to pay for its recklessness and willfulness", the spokeswoman noted.

Kennedy said a deal to cut China's $375 billion USA goods trade surplus by $100 billion is far easier to achieve with additional purchases of US soybeans, beef, liquefied natural gas, Boeing (BA.N) aircraft and other equipment. That depends on whether President Donald Trump will settle for a reduction in China's USA trade surplus or hold out for sweeping changes to China's industrial policies.

A group of 25 major USA retail companies, including Walmart, Costco and Best Buy, also warned on Monday that any additional broad-based tariff would worsen us inequity and "punish American working families" with higher prices on household basics like clothing, shoes and electronics. In the 14 years from 2004-2017, 39 complaints were brought against China, on 26 separate issues ("matters" in WTO-speak - sometimes multiple countries complained about the same matter, so there are more complaints than matters). The WTO ruled the United States had not fully complied with a 2014 ruling against its anti-subsidy tariffs on a range of Chinese products.

The European Union and other trade partners dismiss that as an excuse and say the USA merely wants to give its companies a boost.

"The total import and export of petrochemicals of China stood at 583.4 billion USA dollars in 2017, increased by 22.1 percent".

Buhari congratulates German chancellor, Merkel, on her re-election
He said in an interview with the tabloid Bild last week that "Islam does not belong to Germany". Addressing Merkel, he said: "You've spoken for the first time about the German people again".

Earlier Thursday, lawmakers and industry groups had expressed fears that China would retaliate even though they shared President Donald Trump's assessment that Beijing's policies - such as forcing US companies to share their technology with Chinese companies - needed to be curbed. Technology and industrial companies, basic materials makers and health care companies also fell sharply. -China Business Council, said the group wanted to know what action the USA administration wants China to take to improve protection for intellectual property, and over forced technology transfer.

The commerce ministry described the U.S. action as a "very bad precedent" that went against "the interests of China, the United States and the world at large".

The U.S. decision to launch trade investigations is a unilateral act of protectionism, the Chinese commerce ministry said in a statement on Wednesday, citing a speech by Wang in New Delhi.

The seminar received an overwhelming response with around 400 representatives from more than 350 Chinese companies attending the event, the release added.

Specific actions won't occur for at least one month, as US officials compile a formal list of proposed tariffs and American businesses then get 30 days to comment on the measures.

Boeing this week announced a $3.6 billion order from China Southern Airlines Co Ltd's subsidiary Xiamen Airlines.

USA electric carmaker Tesla Inc is in long-running talks with Shanghai authorities to build a local manufacturing plant in the city.

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