Ready for (Trade) War

Chinese Foreign Minister dismisses Quad, calls for India, China 'to not fight but dance'

The US's "abuse" of national security concerns as a reason for implementing the measures will lead to "a serious attack on normal global trade order", the Ministry of Commerce said in a statement on its web site, adding that "China is firmly opposed".

Instead, the USA appears ready to go ahead with tariffs and protectionist practices that already have key U.S. allies and partners seeking help from the World Trade Organization and threatening trade wars. "In a globalised world it is particularly unhelpful for the initiator as well as the target country", Mr Wang said of the rising trade friction.

The comments by Ministry of External Affairs Spokesperson Raveesh Kumar came a day after Chinese Foreign Minister Wang Yi in Beijing said India and China should shed suspicion and manage differences by meeting halfway, suggesting toning down of tough Chinese posture against New Delhi after the tense Doklam standoff.

After tweeting that he had asked China to come up with plans to reduce the USA trade deficit, Trump brought up the separate but even more important issue of intellectual property theft.

In Geneva, China raised its concerns at the World Trade Organization, where 17 other WTO members also voiced misgivings. "It is now a trade bloc that discriminates against the U.S".

"Having reversed the sequence" by imposing tariffs first, Bader said, "it's hard to see how there will be much worldwide support" for the US's coming campaign against Chinese intellectual property theft.

In a tweet, he said the " acting swiftly on Intellectual Property theft".

Trump's declaration coincided with the signing by 11 countries of a new Trans-Pacific trade pact that the United States withdrew from previous year.

President Donald Trump said Wednesday that he has asked China to develop a plan to reduce the current trade deficit between the two countries by $1 billion.

China said the U.S. is sabotaging the multilateral system represented by the World Trade Organization, and its actions will "seriously shake" the global trade order.

After the signing ceremony, EU Trade Commissioner Cecilia Malmstrom said the EU should also be exempt from the ruling because it is a close ally of the US.

Within the headline total, China's trade surplus with the United States stood at $20.96 billion, slightly below the $21.895 billion level reported in January.

Wang also claimed that all of the tension and problems in the South China Sea are the result of "foreign forces" and China was committed to protect its interests in the region.

The U.S., originally the biggest TPP economy, was one of the trade deal's strongest supporters before Trump took office. His departure leaves "nationalist" advisers like arch China skeptic Peter Navarro, author of Death by China, and Commerce boss Wilbur Ross with the president's ear.

The Trump administration is considering clamping down on Chinese investments in the USA and imposing tariffs on a broad range of its imports to punish Beijing for its alleged theft of intellectual property, according to a Bloomberg report citing people familiar with the matter. In Beijing, officials continue to search for a way out.

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