China says it does not want a trade war with U.S.

[DonViejo]

Source: Reuters




MARCH 3, 2018 / 11:28 PM / UPDATED 2 HOURS AGO

BEIJING (Reuters) - China does not want a trade war with the United States but will defend its interests, a senior Chinese diplomat said on Sunday, after U.S. President Donald Trump announced a plan to put tariffs on steel and aluminum imports.

Trump struck a defiant tone on Friday, saying trade wars were good and easy to win, a day after he said he intended to put duties of 25 percent on steel imports and 10 percent on aluminum products.

Trade tensions between the world’s two largest economies have risen since Trump took office in 2017, and although China only accounts for a small fraction of U.S. steel imports, its massive industry expansion has helped produce a global glut of steel that has driven down prices.

Negotiations and mutual opening of markets were the best ways to resolve trade frictions, Chinese Vice Foreign Minister Zhang Yesui said at a briefing ahead of China’s annual session of parliament, which opens this week.

Read more: https://www.reuters.com/article/us-china-usa-trade/china-says-it-does-not-want-a-trade-war-with-u-s-idUSKCN1GG04K?il=0

[Maxheader]

1. That will depend

on cheetox mood of the day...baldwin got on his ass lately?
Not getting its way with the hookers?
Golf game off?

[Igel]

2. Until the paperwork's done, there are no tariffs.

This time period might just be what's needed after an idiotic ex parte decision by Trump was made live to prepare the paperwork.

But it's also a time period where the other side might think, "Oh, they're serious, perhaps we should re-evaluate our position and try to talk this out instead of saying 'up yours' in diplomatese over and over for 45 years."