The United States launched five separate World Trade Organization dispute actions on Monday challenging retaliatory tariffs imposed by China, the European Union, Canada, Mexico and Turkey following U.S. duties on steel and aluminum. The retaliatory tariffs on up to a combined US$28.5 billion worth of U.S. exports are illegal under WTO rules, U.S. Trade Representative Robert Lighthizer said in a statement.
China can increase soybean imports from other countries to reduce reliance on buying from the United States, the president of state grains trader COFCO said in an interview with the Communist Party’s official People’s Daily paper on Wednesday.
Cut-price Chinese home insulation is being blamed for a massive rise in emissions of a gas, highly damaging to the Earth's protective ozone layer. The Environmental Investigations Agency (EIA) found widespread use of CFC-11 in China, even though the chemical was fully banned back in 2010.
US President Donald Trump fired the biggest shot yet in the global trade war by imposing tariffs on US$ 34 billion of Chinese imports. China immediately said it would be forced to retaliate. The duties on Chinese goods started at 12:01am Friday in Washington, just after midday in China.
When reports emerged that India and China are in talks about forming an oil buyers' club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying.
United Nations member countries on Sunday agreed to a peacekeeping budget of just under US$ 6.7 billion, according to diplomatic sources. This is about US$ 122 million less than what had been recommended by a panel of experts.
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.
China has ended a two-decades-long ban on exports of beef from the UK, first introduced after the outbreak of BSE - or “mad cow disease” - in the 1990s. The government said the development will be worth £250m to British producers over the next five years.
The country that could indirectly benefit from the intensifying US-China trade war is Brazil, which finds itself in a strategic position to increase its market share of soybean exports to China.
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.