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[size=30]China avoids trade war with America and why?[/size]
05/03/2018 02:00 | Number of readings: 203
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[rtl]Trend Press / Agencies[/rtl]
[rtl]"China does not want a trade war with America but it will defend its interests after US President Donald Trump announced a plan to impose tariffs on imports of steel and aluminum," a senior Chinese diplomat said .[/rtl]
[rtl]Chinese Vice Foreign Minister Zhang Yue Sui told a news conference before the annual meeting of the Chinese parliament, which starts this week, that negotiations and the opening of markets opened the way to resolving trade disputes .[/rtl]
[rtl]"China does not want to fight a trade war with the United States, but we will not stand idly by while China's interests are undermined, " said Zhang, also a spokesman for the parliament and a former US ambassador .[/rtl]
[rtl]Trump spoke defiantly on Friday, saying trade wars were good and easy to win, a day after he announced his intention to impose a 25 percent fee on steel imports and 10 percent on aluminum products .[/rtl]
[rtl]Trump believes the cartoons will protect US jobs, but many economists say the consequences of rising prices for steel and aluminum consumers such as the automotive and oil industries will eliminate jobs more than those created by the cartoons.[/rtl]
[rtl]Trade tensions between the world's two largest economies have grown since Trump took office in 2017. Although steel imports from China are only a fraction of US imports, the massive expansion of industry has contributed to the global warming of the metal that has pushed prices down .[/rtl]
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