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Head of Chinese sovereign fund: Commercial war will hurt our investment

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rocky
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Head of Chinese sovereign fund: Commercial war will hurt our investment

Post by rocky on Wed 11 Jul 2018, 3:27 pm

Head of Chinese sovereign fund: Commercial war will hurt our investment






2018/07/11 16:17


(Encyclopedia of this Day News | Iraq News ) - Direct: Chairman of the Chinese sovereign wealth fund "Sa.aa.sa" said he could not avoid a trade war , adding that this conflict will have a negative impact on the Fund 's investments.

"There is no one hoping this trade war will happen, but it seems unavoidable," Tu Guangshao told the Mali conference in Paris on Wednesday.

The White House announced that US President Donald Trump had instructed Trade Representative Robert Laetizer to set a list of new Chinese goods worth $ 200 billion in order to apply customs tariffs of up to 10%.

The Chinese Ministry of Commerce yesterday expressed shock at the US moves, saying that it may lodge a complaint with the World Trade Organization.

During the statement, the Chinese ministry described the US sanctions as "totally unacceptable".

Last Friday, US tariffs entered into 34 billion dollars worth of Chinese goods amid a retaliatory response from Beijing on the same day.



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