China fumes over US law backing Hong Kong, says retaliation inevitable

Election News
Terms of Trade is a day by day bulletin that unravels a world entangled in exchange wars. China is making a propensity for giving obscure counter dangers. Up until now, be that as it may, it hasn't really done a lot. The outside service gave another admonition on Thursday after President Donald Trump marked bills backing Hong Kong's nonconformists, utilizing language that reflected an announcement a week ago.
China gave comparative dangers not long ago after the U.S. affirmed arms deals to Taiwan, authorized organizations over human-rights maltreatment in Xinjiang and put Huawei Technologies Co. on a boycott. "We recommend that the U.S. quits adhering determinedly to its course or China will take fearless countermeasures," the outside service said. "The U.S. side will bear all duty regarding the outcomes." Later, outside service representative Geng Shuang evaded inquiries on when China would answer or whether it would affect exchange talks, advising journalists to "stay tuned."
"What will come will come," he said. The inability to tissue out the subtleties regardless of having a long time to get ready shows the challenges China faces in hitting the U.S. without additionally harming its own economy, which is developing at the slowest pace in right around three decades. Aside from actualizing retaliatory levies against the U.S., China has to a great extent adhered to an approach of "vital poise" with regards to different parts of the relationship.
Exchange Talks Impact

Mei Xinyu, a specialist at a research organization under China's Commerce Ministry, said that the Hong Kong issue will be talked about at the exchange arrangement table and China will probably ask the U.S. side to explain its position, or even make a few guarantees on ceasing from utilizing the bill. He included that China will set up certain countermeasures simultaneously, resounding the Foreign Ministry's comments prior, without expounding on what explicit estimates will be taken......READ MORE

China 'blackmailing' India into using Huawei for its 5G infra: US lawmaker

International News

China is "blackmailing" India into using Huawei for its 5G infrastructure, an influential US Congressman alleged Tuesday, even as Beijing hoped that New Delhi will not succumb to any pressure from America.
The US has banned Huawei, the world leader in telecom equipment and the number two smartphone producer, over concerns of security, and Washington has been putting pressure on other countries to restrict the operations of the Chinese telecom firm.
The Trump administration has been asking all its allies and friends, including India, to block the entry of Huawei from using their 5G infrastructure, which is a next generation cellular technology with download speeds stated to be 10 to 100 times faster than the current 4G LTE networks.
"China is now blackmailing India into using Huawei for its 5G infrastructure they know no bounds!" Congressman Jim Banks said.The 5G networking standard is seen as critical because it can support the next generation of mobile devices in addition to new applications like driverless cars. The Chinese Communist Party "moves to strong-arming countries into exposing themselves to surveillance and espionage", he alleged.
However, China on Tuesday hoped that India would make an "independent and objective" judgement on permitting its telecom giant Huawei in 5G trials and services in the country.
According to a recent report quoting Union Communications Minister Ravi Shankar Prasad, India plans to develop its own 5G network. Senator Marsha Blackburn alleged that China, along with state-run company Huawei, is looking to push its spy embedded technology onto America and its allies.

 "We need to draw a hard line to protect our national security interests and intellectual property," she said....Read More

Trump hits China with more tariffs, says Xi moving too slow on trade

International News

US President Donald Trump said he plans to impose a 10 per cent tariff on $300 billion of Chinese imports from September 1 and could raise tariffs further if China's President Xi Jinping fails to move more quickly to strike a trade deal.
The announcement on Thursday extends Trump's trade tariffs to nearly all China's imports into the United States and marks an abrupt end to a temporary truce in a trade war that has disrupted global supply chains and roiled financial markets.
"I think President Xi ... wants to make a deal, but frankly, he's not going fast enough," Trump said.
Trump made the announcement in a series of Twitter posts after his top trade negotiators briefed him on a lack of progress in US-China talks in Shanghai this week.
Trump later said if trade negotiations fail to progress he could raise tariffs further - even beyond the 25 per cent levy he has already imposed on $250 billion of imports from China.
The news hit US financial markets hard.
Oil prices plummeted 7 per cent, with Brent crude registering the biggest daily percentage drop since February 2016. The benchmark S&P 500, which had been in solidly positive territory on Thursday afternoon, closed down 0.9 per cent. Benchmark US Treasury yields also fell.

 Retail associations predicted a spike in consumer prices. Target Corp tumbled 4.2 per cent, Macy's Inc fell 6 per cent and Nordstrom Inc was down 6.2 per cent.Asked about the impact on financial markets, Trump told reporters: "I'm not concerned about that at all."...Read More

US threat to pull China's WTO developing nation tag will fail: State media

International News

A US threat to pull recognition of China's "developing nation" status at the World Trade Organisation is a pressure tactic ahead of this week's trade talks and is bound to fail, a commentary in state media said Monday.
The reaction followed a memo issued on Friday by President Donald Trump to US Trade Representative Robert Lighthizer.
It said the WTO, which operates a global system of trade rules and settles disputes, uses "an outdated dichotomy between developed and developing countries that has allowed some WTO members to gain unfair advantages." Without "substantial progress" to reform WTO rules within 90 days, Washington will no longer treat as a developing country any WTO member "improperly declaring itself a developing country and inappropriately seeking the benefit of flexibilities in WTO rules and negotiations," said the statement, which focused mostly on China.
The memo came ahead of meetings in Shanghai on Tuesday and Wednesday between US and Chinese negotiators aiming to resolve a trade dispute that has led to tariffs on more than $360 billion worth of two-way trade involving the world's two largest economies.
Washington "obviously timed the memo to serve as a new bargaining chip" in the trade talks, the commentary from state-run Xinhua news agency said of the WTO threat.

 "But the tactic of imposing pressure is nothing new to China and has never worked," it said.Xinhua added that the US government's "latest hegemonic attempt" to coerce the WTO "is destined to hit a wall of opposition." Developing country status in the WTO allows governments longer timelines for implementing free trade commitments, as well as the ability to protect some domestic industry and maintain subsidies...Read More