China issues United States travel warning amid trade tensions

Daniel Fowler
July 5, 2018

Over 40 WTO members, including the 28 countries of the European Union - warned that the US action could seriously disrupt the world market and threaten the WTO system, given the importance of cars to world trade. Japan's government has warned in a report that a higher USA tariff on auto imports could backfire, jeopardizing hundreds of thousands of American jobs created by Japanese auto-related companies, raising prices for US consumers and devastating the USA and global economy.

Hopes are dwindling for the world's two biggest economies to reach a breakthrough this week before Washington starts charging tariffs on $34 billion in Chinese imports. China's list is created to inflict pain on US farmers and other groups that are important to President Donald Trump's political base.

Beijing has prepared reciprocal tariffs against the United States, which will be introduced on the same day Washington implements tariffs on $34 billion of Chinese imports, according to Reuters.

Asian stocks got off to a cautious start on Thursday as investors remained nervous amid a looming deadline for Washington's proposed tariffs on Chinese imports, leaving financial markets in a state of anxious uncertainty.

"The US's measures are essentially attacking the global supply and value chain. To put it simply, the U.S.is opening fire on the entire world, including itself", he said.

However, China's offer at the upcoming summit to open up reflects Beijing's concern that it is set to face tighter European Union controls, and regulators are also blocking Chinese takeover attempts in the United States.

Over 40 countries have voiced deep concern at the World Trade Organization (WTO) about possible US measures.

"We will continue to assess the potential impact of the USA -initiated trade war on companies and will help companies mitigate possible shocks".

Celebrate America at these fun 4th of July events
There will be fireworks at dusk on Lake George at Shepard Park in the village of Lake George and in Bolton Landing at dusk. A 21-minute fireworks finale will close out the night, which includes inflatable jumpers, face painting and live music.

"U.S. citizens visiting or residing in China have been arbitrarily interrogated or detained for reasons related to 'state security, ' " the State Department advisory said.

According to the report, the Chinese authorities will allow its tariffs against USA products to go into effect starting at 12 a.m. Friday.

Both sides have threatened to impose similarly sized tariffs on 6 July but because of the 12-hour time difference, the Chinese tariffs on United States imports ranging from soybean to stainless steel pipes will take effect earlier.

Another example of unfounded finger-pointing by the U.S. is the Made-in-China 2025 initiative.

China's central bank moved to calm jittery financial markets on Tuesday after the yuan dropped through the psychologically significant 6.7 to the dollar mark, hitting its lowest in nearly a year.

But he added that at a high level China-EU economic dialogue in Beijing last week both sides had agreed to oppose unilateralism and trade and investment protectionism.

While China has signalled a willingness to buy more American goods to balance out the deficit, it has refused to trade away what it views as an essential part of its economic future.

"China and European countries are natural partners", it said. "But the country will encounter more barriers in future development, to which we should learn to adapt", it said.

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