GOP governor bolsters trade diplomacy with China

GOP governor bolsters trade diplomacy with China

GOP governor bolsters trade diplomacy with China

Analysts say the trade balance will be much less in China's favor during the months ahead as tariffs take a bite out of their business.

On July 14, China's Ministry of Finance set up the "U.S. Research Think Tank Alliance" with research institutes around the country, totaling nearly 20 organizations, in an effort to figure out "how to respond to new circumstances and challenges that the U.S".

Meanwhile, China has filed an official complaint against new United States trade tariffs.

Several of the more than 20 governors attending the annual meeting of the National Governors Association said shifting USA trade policies are rattling markets for agricultural commodities and complicating decisions by foreign investors. The expedition to China would take place before the end of the year. "Exporters to China such as Canada, Russia, Australia, and New Zealand, and exporters to the United States, such as Indonesia, Thailand, Mexico, and Brazil will be the winners as they can replace U.S. and Chinese seafood exports", de Jong wrote.

He broke that down to "two or three separate trade wars" and said "none of it is good for trade".

Several of the complaints against the US have come into play following the order signed by US President Donald Trump in March that imposed a 25pc import tax on steel and a 10pc tariff on foreign-produced aluminium, according to the WEF.

International agencies like the International Monetary Fund (IMF), World Bank and the Organization for Economic Cooperation and Development, warned in recent weeks that the trade war would negatively impact international trade and growth, he said. "They can increasingly conduct economic policy themselves". US goods imported into China aren't just facing tariffs, but also stricter quarantines, more spot inspections, and all sorts of delays.

The report issued by the Bertelsmann Foundation comes amid a deepening trade dispute between China and the United States which has engulfed other major trading partners.

As Mr. deLisle read the moves, Mr. Trump expects the other countries to step forward and negotiate with him.

China could retaliate in unconventional ways that could stump the U.S., Mr. deLisle pointed out. However, the losses for the Chinese seafood industry look to be bigger - if the USA implements the recently announced 10% additional tariffs.

The US' consultations requests were not yet publicly available at press time, though a Geneva trade official confirmed that they should be released at some point this week.

"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.

"We should let those who advocate trade war know that trade war is not something that can be easily won", China Consul General to Los Angeles Zhang Ping said.

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