Technology: End U.S.-China trade war now, finance ministers demand in joint plea - PressFrom - Canada
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TechnologyEnd U.S.-China trade war now, finance ministers demand in joint plea

08:20  13 september  2019
08:20  13 september  2019 Source:   thestar.com

U.S. trade deficit shrinks slightly; exports, imports fall

U.S. trade deficit shrinks slightly; exports, imports fall U.S. trade deficit shrinks slightly; exports, imports fall

End This Trade War Now , Finance Ministers Demand in Joint Pl Bolton’ s departure is a boon for Secretary of State Michael Pompeo, who had clashed with the national security adviser and now assumes an unchallenged role as Trump’ s closest adviser on foreign policy.

The US- China trade war is encouraging Chinese companies and government officials to speed up changes that could make the economy more China has shifted toward higher- end exports such as smartphones made by companies like Huawei. Will it open its markets? The waves of new tariffs are

End U.S.-China trade war now, finance ministers demand in joint plea© Christopher Katsarov Canadian Finance Minister Bill Morneau and his counterparts in Australia, Singapore and Indonesia issued a joint statement in The Australian newspaper on Friday calling for an end to the U.S.-China trade war that has roiled markets and hampered economic growth.

The finance chiefs of Australia, Canada, Singapore and Indonesia have banded together to call for an end to the U.S.-China trade war as the long-running dispute roils markets and hampers economic growth.

“While we acknowledge that there are legitimate issues that must be addressed, the risks of collateral damage are growing,” they said in a joint statement published in The Australian newspaper on Friday, warning that the post-war multilateral system was under threat. “We have a responsibility to safeguard the institutions that have led to our shared economic success.”

New York stock indexes hammered as China allows yuan to devalue

New York stock indexes hammered as China allows yuan to devalue New York stock indexes plunged three per cent Monday, as investors continued to deal with the fallout of the China-U.S. trade war. The S&P 500 dropped 87.31 points, or 3 per cent, to 2,844.74 for its worst loss since December, when the market was wrapped in the throes of recession fears. It was down as much as 3.7 per cent in the afternoon. The Dow Jones Industrial Average lost 767.27, or 2.9 per cent, to 25,717.74, and the Nasdaq composite fell 278.03, or 3.5 per cent, to 7,726.04. Canada's TSX index was not trading because of the August Civic holiday.

BEIJING — Senior Chinese and American officials concluded two days of negotiations on Friday with no deal and no date set for further talks, as the United States stepped up its demands for Chinese concessions to avert a potential trade war .

Josh Frydenberg joins alliance calling on the US and China to end its trade war . Fears feud is causing collateral damage to other ­countries, including Australia. Federal treasurer among G20 finance leaders who issued a joint statement. The leaders described the rising trade tensions as a serious concern.

The call comes amid mounting evidence that global economies are feeling painful effects from the dispute, instigated by U.S. President Donald Trump. Manufacturing sectors have contracted around the world, including in the U.S., leading to some market optimism that American trade negotiators will be pressured to seek a deal with Chinese counterparts and end sanctions.

The four ministers on Friday used the op-ed statement to lay bare the challenges facing their economies.

“Uncertainty over the outlook is contributing to a slowdown in trade and manufacturing activity,” the statement said. “We have seen a return of financial market volatility, currency instability and decreased capital flows to emerging economies. Dampened global trade conditions are affecting investor confidence, business investment and productivity. Growth has slowed and risks remain tilted to the downside.”

Beijing hits back after Trudeau vows to stand up to China

Beijing hits back after Trudeau vows to stand up to China Beijing on Thursday accused Ottawa of worsening bilateral relations after Canadian Prime Minister Justin Trudeau vowed to stand up to China amid deepening diplomatic and trade disputes. On Wednesday, Trudeau pushed back against Beijing in a speech that promised to "always defend Canadians and Canadian interests" and to not "back down". "At present, China-Canadian relations are facing serious difficulties," said Chinese foreign ministry spokesman Geng Shuang. "The responsibility lies entirely on the Canadian side," he told reporters at a press briefing in Beijing.

British finance minister Philip Hammond said on Friday he was optimistic that the United States and China would step back from a trade war that would have a "very serious" negative effect on Britain and the world economy. "I'm optimistic that in the end there will be a deal between.

US- China trade war . Total US tariffs applied exclusively to Chinese goods: US0 billion. The surprise tariff announcement comes after the US and China ended trade talks in Shanghai just the China ’ s Ministry of Finance announces that it will temporarily remove additional 25 percent tariffs on

Trump administration officials are said to have discussed offering a limited trade agreement to China that would delay and even roll back some U.S. tariffs for the first time in exchange for Chinese commitments on intellectual property and agricultural purchases.

Group of 20 economies must take a greater role in countering the trade war and to prepare for worsening problems, the ministers said Friday.

“Harking back to its origins in the global financial crisis, the G-20 needs to continue to build mutual understanding and cooperation so it can uphold and support multilateral problem-solving in the event of another economic crisis,” the statement said.

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Chinese exports to the US tanked in August as Trump's trade-war tariffs hit demand.
Chinese imports of American goods also dropped sharply, suggesting the trade war is hurting both countries.

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