Author Topic: China rebuffs Trump threat to take steps to win trade edge  (Read 1317 times)

MCentaur

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China rebuffs Trump threat to take steps to win trade edge
« on: December 04, 2016, 04:51:22 AM »
Canadian Press

Quote
China rebuffs Trump threat to take steps to win trade edge

The Canadian Press
November 23, 2016

WASHINGTON China pushed back Wednesday against President-elect Donald Trump's threat to use sanctions to win back a competitive trade advantage for the United States.

On the campaign trail, Trump had threatened to slap 45 per cent tariffs on Chinese products and to label China a "currency manipulator." But Zhang Xiangchen, China's deputy trade representative, warned that Trump will find he is bound by the rules of the World Trade Organization, which restrain countries from imposing sanctions without making a persuasive case for them. China can challenge any sanctions at the WTO.

Speaking at the end of annual U.S.-China trade talks, Zhang also disputed the idea that China keeps its currency artificially low to give its exporters a price advantage. Many economists agree that China no longer manipulates its currency, the yuan.

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