As Moscow's Partner, China Aims to 'Cause Trouble for US'

"Joint research work will be a very good signal and also produce very good results going forward", he said.

China's military will hold live-fire exercises in the Taiwan Strait next week, putting new focus on raised tensions between the USA and China. The value of the tariffs is estimated to be $50 billion. It gave no indication of a possible response but a foreign ministry spokeswoman said Beijing was "fully prepared to defend" its interests.

"When you´re $500 billion down, you can´t lose a trade war", he said.

The blue-chip CSI300 index closed down 0.7 percent at 3,871.14, while the Shanghai Composite Index declined 0.7 percent to 3,159.05.

The dollar dipped to 104.90 yen as investors shifted into the Japanese currency, which is viewed as a "safe haven" from risk.

New vehicle sales in China returned to growth in March, with deliveries to dealers rising by 4.7% to 2.66m units from 2.54m units a year earlier, according to data released by the China Association of Automobile Manufacturers (CAAM).

China now spends 2.1pc of its gross domestic product on research and development, not yet matching U.S. levels of 2.75pc, but a remarkable increase from just 0.7pc in the 1990s and nearing the 2.35pc average among members of the Organisation for Economic Co-operation and Development.

On the US side, the tariffs will hurt, industry experts say. That leaves Beijing room to take more drastic steps.

Chinese President Xi Jinping poses for a group photo of the destroyer Changsha while reviewing a military exhibition of the Chinese People's Liberation Army (PLA) Navy in the South China Sea on April 12, 2018.

In 2016, China produced nearly 500,000 scientific papers according to data from global information analytics firm Elsevier, taking the No.2 spot globally and closing in on America's 600,000. China's strategic tariffs on USA goods is meant to make Trump supporters in red states clearly aware that the president's actions have a direct negative effect on them, and that their support of the president will have financial repercussions. Or is Mr. Xi merely trading his promises for relaxation of the Trump tariff position?


Hua said China believes a comprehensive, impartial and objective investigation should be carried out to reach a reliable conclusion that could stand the test of time. However, China is highly unlikely to accept cease subsidies for "Made in China 2025". It calls for creating Chinese competitors in electric cars, robots, artificial intelligence and other fields.

Another critical issue would be the access to Chinese financial and E-business market.

China's retaliatory duties on more than 100 United States imports, including pork, fruit and wine, kicked in soon after. A second list of goods including wine, apples, ethanol and stainless steel pipe would be charged 15 percent.

"That shows a good sign for this year", central bank chief Yi Gang said Thursday.

The U.S. steel and aluminum tariffs also have irked Japan, America's closest ally in Asia. Kim said he would develop their friendship into a "fresh phase of development as required by a new era by further strengthening of the bilateral relations".

Soybean is regarded as most important for U.S. farmers as China is the largest importer.

Washington says China's $375 billion trade surplus with the United States is unacceptable, and has demanded Beijing reduce it by $100 billion immediately.

"The skyrocketing deficit has taken its toll on the US economy over the ensuing decades". He says the Chinese have been using industrial spies to steal and copy our technology for decades and this can no longer be tolerated.

Phil Levy, who was a trade advisor to President George W. Bush, has the sitting president for being "excessively eager to apply tariffs", even though the current negotiations have already dragged on for over a year.

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