{"id":141573,"date":"2018-06-15T10:59:21","date_gmt":"2018-06-15T10:59:21","guid":{"rendered":"http:\/\/freeonlinetranslators.net\/news\/english\/china-vows-fast-response-to-us-tariffs\/"},"modified":"2018-06-15T10:59:21","modified_gmt":"2018-06-15T10:59:21","slug":"china-vows-fast-response-to-us-tariffs","status":"publish","type":"post","link":"https:\/\/freeonlinetranslators.net\/news\/english\/china-vows-fast-response-to-us-tariffs\/","title":{"rendered":"China vows fast response to US tariffs"},"content":{"rendered":"<figure>                                  <img decoding=\"async\" alt=\"Containers at the Yangshan Deep Water Port in Shanghai\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/EFB3\/production\/_102036316_o7ysk8g4.jpg\"\/>Image copyright                  Reuters                                                    <\/figure>\n<p class=\"caps\">China will respond quickly to protect itself if the US hurts its interests with fresh trade tariffs, a foreign ministry spokesman has said.<\/p>\n<p>The warning from Beijing comes as the US prepares to levy new tariffs on $50bn worth of Chinese imports.<\/p>\n<p>On Thursday, US officials met at the White House to trim the original list of 1,300 categories to about 800. <\/p>\n<p>Duties on foreign steel and aluminium, announced in March, have already gone into effect.<\/p>\n<p>Those tariffs have already prompted Europe, Mexico, Canada and China to introduce or announce plans for counter-measures in retaliation. <\/p>\n<p>The move threw the G7 meeting last weekend into disarray, with US President Donald Trump retracting his endorsement of the joint statement and lashing out at host Canada. <\/p>\n<ul>\n<li>G7 summit ends in disarray over tariffs<\/li>\n<li>US tariffs a dangerous game, says EU<\/li>\n<li>Is the US-China trade war back on?<\/li>\n<\/ul>\n<p>The US says its tariffs on Chinese goods come in response to what it categorises as theft of intellectual property.<\/p>\n<p>The US wants China to stop practices that allegedly encourage transfer of intellectual property - design and product ideas - to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market.<\/p>\n<p>In Beijing on Friday, Chinese foreign ministry spokesman Geng Shuang repeated earlier warnings that all trade talks between China and the US would be void if Washington imposed trade sanctions.<\/p>\n<p>&quot;Our position is still the same,&quot; he said.<\/p>\n<p>&quot;If the US takes unilateral and protectionist measures that harm Chinese interests, we will respond immediately by taking the necessary decisions to safeguard our legitimate rights and interests.&quot;<\/p>\n<h2>&#039;Serious&#039; impact<\/h2>\n<p>On Thursday, International Monetary Fund (IMF) director Christine Lagarde warned that the Trump administration&#039;s trade policies were likely to hurt the US economy and undermine the world&#039;s trade system.<\/p>\n<p>She said a trade war would lead to &quot;losers on both sides&quot; and could have a &quot;serious&quot; impact. <\/p>\n<p>While the IMF expects the trade dispute to have relatively minor economic consequences - slowing GDP by a fraction of a percentage point - Ms Lagarde said she was concerned about how the fight would affect sentiment.<\/p>\n<p>&quot;What is more critical and more difficult to factor in at the moment... is the actual impact on confidence,&quot; she said at a news conference in Washington.<\/p>\n<p>The IMF said the White House, which has also threatened to withdraw from the North American Free Trade Agreement (Nafta), was responding to rising concerns about the side-effects of free trade.<\/p>\n<p>&quot;These measures, though, are likely to move the globe further away from an open, fair and rules-based trade system, with adverse effects for both the US economy and for trading partners,&quot; the IMF said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Reuters China will respond quickly to protect itself if the US hurts its interests with fresh trade tariffs, a foreign ministry spokesman has said. The warning from Beijing<\/p>\n","protected":false},"author":1,"featured_media":141574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-141573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english"],"_links":{"self":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/141573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/comments?post=141573"}],"version-history":[{"count":0,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/141573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media\/141574"}],"wp:attachment":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media?parent=141573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/categories?post=141573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/tags?post=141573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}