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China will do right on trade

10 April 2018

China has proved itself to be still a major player in matters regarding the Korean Peninsula after North Korean leader Kim met Chinese President Xi Jinping in Beijing.

Chinese state researchers and media talked down the likely impact of US trade measures on the world's second largest economy and described the Trump administration's posturing on trade as the product of an "anxiety disorder".

Chinese President Xi Jinping has an opportunity this week to announce significant reforms that could de-escalate trade tensions with the world's largest economy.

Trump complained as recently as Monday about China's 25% tariff on foreign cars, pointing out that it's far higher than the 2.5% tariff the United States charges for imported cars.

Trump said that "taxes will become Reciprocal & a deal will be made on Intellectual Property. Great future for both countries", said the US President.

China's latest tariff announcement, the one on April 4 on the $50 billion of USA products, came hours after President Donald Trump announced US tariffs on a similar number of Chinese products.

Iranian President says USA will regret if it scraps n
On Sunday, Iran's national currency the Rial plunged above 6 percent against the U.S. dollar in free market. A dollar was 36,000 rials in mid-September.

Trump and China's government escalated their trade clash Friday, with Beijing vowing to "counterattack with great strength" if Trump follows through on threats to impose tariffs on an additional $100 billion in Chinese goods. The two nations had already proposed $50 billion in tariffs on imports, but none of that has taken effect yet.

The biggest beneficiaries of a cut in China's 25 percent tariff on most auto imports will be the handful of automakers such as electric vehicle brand Tesla that have no factory in China.

Trump's tying of trade issues with North Korea was a warning to South Korea that it should closely coordinate with the USA and stay on the same page in achieving North Korea's denuclearisation, said Kim Hyun-wook, a professor at the Korea National Diplomatic Academy.

"I don't think there's any trade war in sight", Mr. Kudlow said on "Fox News Sunday".

Trade issues between China and the US are not new.

He mentioned dropping out of the Trans-Pacific Partnership and renegotiating NAFTA before saying, "It's pretty frustrating, as a farmer, because so much of the ag products that we raise in the United States go into the export market". The U.S. benchmark stock index is up more than 1.25 percent and is now trading at 2650.

West Ham striker Javier Hernandez reacts to goalscoring record against Chelsea
The Mexico worldwide added: "These types of games are very hard , you have to be focused to stop a very good side like Chelsea ". Stoke now sit in the relegation zone, seven points worse off than West Ham who have played a game less.

The South Carolina senator said Sunday, "It will hurt BMW in the short term to deal with the Chinese steel dumping, I understand that".

On currency markets the dollar was boosted by easing trade worries, while it also extended gains against the ruble after Trump slapped sanctions against Russian oligarchs close to Vladimir Putin following the diplomatic crisis sparked by the poisoning of former spy Sergei Skripal.

He also declared that China's behavior was "a wake-up call to Americans". "We're moving forward in a measured way", he said on NBC's "Meet the Press".

"When a auto is sent to the United States from China, there is a Tariff to be paid of 2 1/2%".

According to the World Trade Organization, China's average tariffs in 2017 stood at 10%, while U.S. tariffs were 3.4% and the EU's 5%.

China's stocks are among fund managers' top picks for 2018 as they bet the United States and China will avert a full-blown and potentially costly trade war.

Sensex vaults 577 pts as RBI holds rate, lowers inflation forecast
Consequently, Nifty closed flat at 10,332, while the Sensex settled with a slight gain of 30 points, or 0.09 per cent, at 33,627. The German DAX dropped 0.4 percent and France's CAC 40 index slid 0.2 percent while the U.K.'s FTSE 100 inched up 0.1 percent.

In another tweet on Saturday, Trump again claimed unfair Chinese trade practices.

China will do right on trade