The trade dispute between the United States and China could well expand into other areas given the significant “ammunition” the two countries have, the director-general of the World Trade Organization (WTO) said on Wednesday.4 comments
The State Department announced last week that it would temporarily recall U.S. ambassadors to the Dominican Republic, El Salvador and Panama for consultations in Washington. The meetings will focus on recent decisions by Latin American countries to no longer recognize Taiwan and ways the U.S. can support strong. independent, democratic institutions and economies throughout Central America and the Caribbean1 comment
China's economic growth slowed in the quarter ending in June, adding to challenges for Beijing amid a mounting tariff battle with Washington. The world's second-largest economy expanded by 6.7%, down from the previous quarter's 6.8%, the government reported Monday.
The Chinese government has eased rules that limit foreign investment in the country's banks, car industry and agriculture. The barriers have drawn criticism from trading partners, including the US. The Trump administration cited the rules as an example of unfair practices when it announced plans for tariffs on Chinese goods earlier this year.
U.S. protectionism is self-defeating and a “symptom of paranoid delusions” that must not distract China from its path to modernization, Chinese state media said on Friday. China has stepped up its war of words with the United States since President Donald Trump threatened on Monday to hit US$ 200 billion of Chinese imports with 10% tariffs if China retaliates against his previous targeting of US$ 50 billion in imports.
Kim Jong Un declared North Korea's unstinting “friendship, unity and cooperation” with Beijing during his third visit to China this year, in a show of loyalty to his main ally following a landmark summit with US President Donald Trump.
The following editorial on the current US/China trade war was published by the official news agency Xinhua,
The United States and China are pulling back from the brink of a trade war after the world's two biggest economies reported progress in talks aimed at bringing down America's massive trade deficit with Beijing. We are putting the trade war on hold, Treasury Secretary Steven Mnuchin said on Sunday.
Beijing has dropped an anti-dumping investigation into imported U.S. sorghum, which it had accused the United States of unfairly subsiding. It has also given approval for a U.S. private equity firm to buy Toshiba's memory chip business. Those gestures could suggest a thaw with the U.S. as trade talks went on in Washington in an atmosphere of hopefulness but hardly assurance of a breakthrough in the impasse.
The Dominican Republic and China announced on Tuesday they were establishing diplomatic relations as the Caribbean country became the latest nation to dump Taiwan, leaving it with just 19 diplomatic allies around the globe. Taipei said it was “deeply upset” at the decision, which it blamed on “dollar diplomacy”. The move deepens the island's international isolation while its giant neighbor flexes its economic and political might on the global stage.