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China targets $3 billion of U.S. goods in tariff spat

16 April 2018

"We really shouldn't be surprised that China's economy is doing well", said James Laurenceson, deputy director of the Australia-China Relations Institute at the University of Technology in Sydney.

After Trump unveiled another set of planned tariffs last Friday, Xi this week struck a conciliatory note, promising to cut tariffs on cars - a key point of U.S. anger - and other imports, as well as further open up the economy.

In sovereign debt markets, the U.S. Treasury yield curve hovered at its lowest level in more than decade as short-dated yields have risen more than longer-dated ones this week on expectations of further interest rate increases from the Federal Reserve. "So I thought, it was appropriate to have a strong response", he said.

A Chinese national flag flutters at the headquarters of a commercial bank on a financial street in central Beijing, China November 24, 2014.

In the first week of April, the United States announced tariffs worth $50 billion on Chinese products which, it said, was the result of Beijing forcing the American companies to transfer their technology to China's firms.

Chinese President Xi Jinping has sent a clear message of Beijing's disapproval over growing ties between the United States and Taiwan by ordering live fire drills in the Taiwan Strait.

In 2016, China produced nearly 500,000 scientific papers according to data from global information analytics firm Elsevier, taking the number 2 spot globally and closing in on America's 600,000.

When asked if he would support a similar us intervention as he did in 1996, if China were to invade Taiwan today, Perry said a lot has changed since 1996, and there is now free travel and robust economic exchanges between Taiwan and China.

Expansion of 6.8 per cent in the first quarter would match the pace of growth in the last three months of 2017 and be just a fraction off the 6.9 per cent recorded for previous year. These developments have caused worries that a trade war is about to break out with the blame going to Mr. Trump for triggering a crisis. He said Trump and Xi agreed past year on a 100-day agenda of trade-liberalization measures but Beijing failed to act on about half of them.

However, Chinese officials have in recent days repeated that the two sides were not negotiating on the issue.

China has repeatedly warned that it will fight back against the proposed duties.

Indian movies have done very well at the Chinese box office since a year ago, raking in millions of dollars.

Beijing reported a trade surplus of $275.8 billion with the United States past year, or two-thirds of its global total.

As one of those that responded to the poll put it: "Tariffs are generally a bad idea, but Communist China is a notable exception".

The United States buys little Chinese steel or aluminum, but analysts have said Beijing would feel obligated to take action to avoid looking weak.

Finally, a full trade war would also have significant implications for key USA allies, namely South Korea, whose economy would suffer drastically. Fixed-asset investment is seen slowing to 7.7 per cent in the first quarter compared to 9.2 per cent a year earlier. However, Chinese officials already insist companies aren't required to hand over technology, so it was unclear how policy might change.

China targets $3 billion of U.S. goods in tariff spat