China: US trade policies are ‘confidence killer’ for global economy

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A senior European official on Monday urged U.S. President Donald Trump, Russian President Vladimir Putin and China to work with Europe to avoid trade wars and prevent conflict and chaos.

Speaking at a news conference, he said: "If China wishes to open up, it can do so".

"The United States publicly ignited a trade war on July 6 and escalated it on July 11", Gao said.

Speaking to National Business Daily, a Chinese newspaper, Fu said the alliance would like to "provide information on China to worldwide media" so that "China issues can be discussed by Chinese people".

Both sides agreed that faced with the current complicated worldwide situation, especially the rise of unilateralism and protectionism, China and the European Union, as two major economies of the world, have the joint responsibility to safeguard the rules-based global order, advocate multilateralism, and support free trade so as to promote world peace, stability and development.

Europe also is anxious Washington will follow up on a threat to impose punitive levies on imported cars, something the powerful German vehicle industry particularly fears.

President Donald Trump has threatened to tax as much as $550 billion in Chinese products - an amount that exceeds America's total imports from China past year.

China insists today that the trade war started by the United States is a clash between unilateralism and multilateralism, as well as between power and norms.

The country's previous complaint came after the United States slapped levies on Chinese goods worth US$34 billion.

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Steel imports now face a 25 percent tariff while aluminium imports face a 10 percent tariff, with the exception of those few countries who have negotiated other arrangements with the U.S., or those companies which have been granted product-specific exclusions.

The WTO has "not worked well, or not as well as it was meant to work when China was brought into the WTO in the year 2000", Treasury Undersecretary for International Affairs David Malpass said at an event in Washington on Monday. The members who have filed requests for consultations so far include Canada, China, the EU, India, Mexico, Norway, Russia, and Switzerland.

Kudlow said on Wednesday that Xi was "holding the game up".

"This roaring economy that we worked together to build for American workers and businesses is at risk because of the president's trade policies".

"We need to fine-tune our policies to offset a series of shocks, particularly external shocks ..."

The United States complains that China uses predatory practices in a push to challenge American technological dominance.

A Chinese emissary is warning at a meeting of US state governors that a trade war with his country won't be easily won. "The Chinese tilapia industry is heavily dependent on the U.S. market", she wrote.

The Commerce Department is investigating whether imports of passenger vehicles, including SUVs, vans and light trucks, imperils US national security. Trump used the same provision to impose steel and aluminum tariffs earlier this year.

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