Is Trump Serious About Trade War? China's Leaders Hunt for Answers


Last Thursday, Trump ordered the USA trade representative to consider imposing tariffs on up to $100 billion worth of Chinese products.

China and India together accounted for 17 per cent of the world oil consumption previous year and are also the world's second and third largest oil consumers, respectively. China's Maritime Safety Administration said the exercises began on Wednesday and were to have lasted through the end of Friday.

But information on strategic stocks is shrouded in secrecy, with government reports on the fill level coming only with several months' lag, and the IEA said the latest report did not include all the sites that are part of the programme.

China implemented high trade barriers to USA made trucks and automobiles which helped increase its global production by 30%.

China has spent the past two decades building a "blue-water" navy able to project force into the Indian and Pacific oceans, which surround the country's growing economic interests in Africa, the Middle East and Southeast Asia. China has been quick in drawing up trade retaliation options against the US.

China's government on Thursday denied President Xi Jinping's promise of market-opening measures this week was aimed at settling a tariff dispute with Washington and said negotiations are impossible under "unilateral coercion" by the United States.

According to USA media reports, President Trump made the move to "punish" the People's Republic of China for what he called the theft of American technology.

State broadcaster China Central Television showed footage of Xi boarding the destroyer Changsha before sailing to an unspecified location in the South China Sea and watching the procession, which involved more than 10,000 naval officers, 76 fighter jets, and a flotilla of 48 warships and submarines. In addition to unlimited export internationally, Hainan-produced goods would now be favored for sale in mainland China as well. Trump has imposed an additional import tariff on some 1,300 Chinese products worth Dollars 50 billion and directed to look into another round of additional tariffs worth USD 150 billion.

March aluminium exports were 22.2 percent higher than February's 370,000 tonnes, customs said.

"People wonder does Trump have an Asia strategy, numerous United States allies worry that he will never have a clear, consistent Asia strategy and if he is interested in actually making that happen".

Meanwhile, imports surged 14% in March from a year ago, faster than the expected spike of 12%.

Imports of commodities continued to lead the way in March, with shipments of copper, crude oil, iron ore and soybeans all rising from the previous month.

But the sudden spike in trade tensions with the United States is clouding the outlook for both China's "old economy" heavy industries and "new economy" tech firms. China exported $137.8 billion worth of high-tech products in the first quarter, up 20.5 percent on-year.