Published: Thu, July 19, 2018

China refutes USA accusations on tariffs, intellectual property issue

China refutes USA accusations on tariffs, intellectual property issue

The report found that e-commerce and tourism are playing significant roles in services trade, while goods trade is having a smaller role in overall Chinese foreign trade, along with noting progress in tackling income inequality and poverty concerns at home.

Last week, the administration announced 10 percent tariffs on $200 billion worth of Chinese goods, which won't take effect until at least September. Countries that join commit in principle to apply their lowest tariff rate on goods from other member countries, called most-favored nation treatment.

China welcomes the meeting between the leaders of Russian Federation and the Helsinki.

Trump has also hit European metal imports with tariffs and has threatened to curb auto imports from Europe with a 20 percent duty.

China's economy grew at a slower pace in the second quarter, data on Monday showed, with Beijing's trade dispute with Washington challenging the growth outlook for the world's second-biggest economy.

"It is typical unilateralism and zero-sum thinking to launch trade wars for domestic political considerations and for one's own interests", Hua said. Eight trading partners - China, India, the EU, Canada, Mexico, Norway, Russia and Switzerland - have so far filed complaints to the WTO against the USA steel and aluminium tariffs. In the statement, Lighthizer says the US will "take all necessary actions to protect our interests", while urging the five WTO members named in the complaint to "work constructively" with the United States to resolve the matter.

The filing a challenge to the tariffs that China, the European Union and several other countries imposed on the retaliation to U.S. tariffs on their steel and aluminum.

A European Commission spokesman said that while the bloc's decision to retaliate was proportionate and WTO-compatible, the United States is entitled to seek an independent review in which the EU will explain and defend its position. She said, "The Chinese government entered the WTO because the integration of the letter into economic globalization was in line with the historical trend, and promoting free and open trade could achieve mutual benefit and win-win results".

Since the United States has cited national security to invoke the tariffs, there is little the organisation can do.

As expected, in response to the U.S. tariffs, China imposed increased duties on United States goods.

Mr Trump earlier this month threatened to take action against the WTO after news service Axios reported that his administration had drafted legislation to withdraw the United States from the organisation, a move that he had repeatedly told advisers he was considering.

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