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Rabobank: Chinese seafood industry bigger loser as trade war escalates

21 Juillet 2018

Ultimately, the judges in the WTO's dispute settlement process could rule that the United States should end the tariffs.

The U.S. and China are threatening a trade war over Trump complaints that Chinese companies steal trade secrets and force U.S. firms to hand over technology in return for market access.

Li said that free trade "plays a strong leading role for both sides and for the world economy".

The commander-and-chief and his advisers stated that the tariffs are a vital part of forcing one of the largest global authoritarian powers to abandon some of their unethical and unfair old-world Stalinist tactics. Washington is accusing China of hurting USA companies by stealing or pressuring foreign enterprises to hand over technology.

China and India also feel that the WTO is unbalanced and treats them unfairly, the report said.

The Chinese government made a decision to join the organization because it firmly believes integration into economic globalization is in line with the historical trend and that promoting free, open trade leads to mutually beneficial and win-win results, according to the spokesperson. "Seeing the rest of the world as its enemy, the United States is pushing the global economy into a unsafe area", said Hua Chunying.

China defends just trade and promotes a new round of talks in order to create an environment of open business, transparent and equitative, stressed Hua. "We're hurting those suppliers' inputs, and we're hurting the American companies that are working in China with intermediate goods from the USA and elsewhere to produce what they're producing". Therefore, importers should consider making exclusion requests where they feel there is no domestic or third country alternative to the type of goods or materials imported from China.

The United States and China have imposed tariffs on US$34 billion of each other's imports.

That could include increasing tax rebates - known as the value-added tax credit rate - to exporters in China which would raise their income by between 3.5 percent and 4 percent. China welcomes the meeting between the leaders of Russian Federation and the U.S.in Helsinki.

For Zhenjiang Kimtex Industrial Company in eastern China's Jiangsu province, the United States accounts for 40% of its sales, or about 3 million yuan ($445,000) a year. A similar theme is visible in Canada levying 10 percent tariffs earlier this month on $12.5 billion worth of imports of us products.

Chinese authorities have been attempting to narrow the fiscal conditions of the nation. Out of G-20 economies, India's economy has been hit especially hard by protectionism. The market had hit a high in January.

The Trump administration, in a protectionist measure to provide American companies a level field with their Chinese counterparts, imposed a whopping $50 billion tariff on imports of Chinese products.

Brookings: The future of the U.S.

Rabobank: Chinese seafood industry bigger loser as trade war escalates