Xi vs Trump: Who has the better hand in potential trade war?
14 April 2018, 06:32 | Isaac Mcdaniel
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"But of course actions speak louder than words".
Commerce Ministry spokesman Gao Feng told reporters during a regular briefing, however, that Xi's remarks had nothing to do with the trade row and should not be mischaracterised as a concession to Washington. "Going forward, we will reduce as soon as possible limits on foreign investment in these industries, automobiles in particular", Xi said.
When the Trump administration outlined $50 billion of imports from China that would be subject to a 25 percent tariff, China quickly responded with its own list including soy beans and aircraft.
"We must refrain from seeking dominance and reject the zero-sum game, we must refrain from "beggar thy neighbor" and reject power politics or hegemony while the strong bully the weak", Jinping said.
Speaking at a business conference, Xi made no direct mention of his American counterpart, Donald Trump, or the dispute. "China imports just over 1 million cars into its 20 million-a-year-plus auto market".
When asked whether he felt frustrated by the Trump administration's increasing antagonism toward Chinese investments, Mr Xiao said that although he appreciated each country would have its own laws and regulations over foreign investment and national security, he hoped "every country extends equal treatment to investments from other countries" and not apply restrictions based exclusively on corporate ownership.
Tesla's Chief Executive Elon Musk has railed against an unequal playing field in China and wants to retain full ownership over a manufacturing facility the company is in talks to build there.
Peter Navarro properly observed last Sunday, "What we want from China is very clear". That leaves time for the two countries to negotiate. Towards the end of March he announced tariffs on up to $60bn of annual Chinese imports and stated that Beijing needs to pay the price for decades of unfairly acquiring U.S. intellectual property. "We will make great progress together!", Trump said on Twitter.
Xi vowed to greatly improve market access, strengthen the protection of intellectual property rights, and expand imports by reducing trade barriers.
"China is opening sectors where they already have a distinct advantage, or a stranglehold over the sector", Short said, citing its banking industry, which is dominated by domestic players.
NEW YORK, April 10 (Reuters) - Global equity markets rose for the fifth session in six and the Japanese yen fell on Tuesday as Chinese President Xi Jinping's promise to cut import tariffs eased investor concerns about an escalating U.S. The march of history towards economic liberalisation was irreversible, he said at another point, restating China's commitment to free trade. Further, if 100 percent FDI is allowed, these companies could also set up fully-owned subsidiaries in China as well.
Xi on Tuesday vowed to lower auto tariffs, protect intellectual property and gradually open up China's financial market to foreign investors. None of the announced duties have been implemented yet, offering room for negotiation. It characterized those tariffs as a penalty for Beijing's forcing American companies to hand over technology to gain entry to China's market.
Beijing yesterday denied Chinese President Xi Jinping's (習近平) pledge this week to further open the country's economy was related to its trade dispute with the U.S., saying that there were now no negotiations between the two sides.
Xi's remarks - his first public comments since Beijing and Washington began sparring over tariffs - at first appeared conciliatory.
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