Published: Sat, August 04, 2018
Finance | By Marshall Campbell

Vietnam posts $3.1-billion trade surplus in Jan-July

Vietnam posts $3.1-billion trade surplus in Jan-July

The GSO has however warned exporters and importers to be prepared for any eventuality given the ongoing trade war between the USA and China. "Unilateral threats and pressure will only be counter productive".

The deliberations could be a sign that Trump is looking to intensify pressure in the trade standoff with Beijing even if it could significantly drive up costs on a wide range of products for American consumers.

"First, I suggest the US take the right attitude and not to try to blackmail China as it doesn't work", spokesman Geng Shuang said in response to a question.

A spokesman for China's foreign ministry appealed to Washington to negotiate but could not confirm reports the two sides were setting up talks.

White House press secretary Sarah Huckabee Sanders told reporters Friday that "instead of retaliating, China should address longstanding concerns about its unfair trading practices".

In early July, the United States government imposed 25 per cent tariffs on an initial $34 billion of Chinese imports.

China is trying to seek an "equal" position in future talks with the USA with today's retaliation announcement, said Gai Xinzhe, analyst at the Bank of China's Institute of International Finance in Beijing.

Last month, the USA proposed 10 percent tariffs on another $200 billion in Chinese products - from parachutes to sardines - in response to China's retaliation.

Two Koreas hold military talks as United States detects missile factory activity
Defense POW/MIA Accounting Agency analyst John Byrd, as quoted by The Post . "Hope that those who are lost will yet be found. The Korean War ended with an armistice, not a peace treaty, leaving the peninsula in a technical state of war.

White House economic adviser Larry Kudlow warned China after it announced its retaliatory tariffs, saying Beijing should not underestimate US President Donald Trump's determination to act on trade.

"Escalating tariffs against China is the wrong approach to address legitimate concerns U.S. businesses have with China's harmful practices", said Myron Brilliant, head of worldwide affairs for the U.S. Chamber of Commerce.

The 25% tariffs would apply to the same products proposed in July. China immediately responded with its own tariffs on United States goods worth $34 billion.

Trump set his sights on China during the 2016 presidential campaign and has followed through during his presidency with a protectionist strategy that he says is aimed at strengthening US companies and boosting jobs at home. China immediately vowed to retaliate though at the same time urged the U.S. to act rationally and return to talks to resolve the dispute.

The United States has already imposed 25 percent tariffs on $34 billion in Chinese imports and is readying 25 percent tariffs on another $16 billion worth to punish China for allegedly using predatory tactics to obtain US technology.

Beijing's earlier round of tariffs appeared created to minimize the impact on the Chinese economy by targeting soybeans, whiskey and other goods available from Brazil, Australia and other suppliers. The government will seek public comment on the higher tariffs.

Hearings are scheduled for Aug. 20 to 23 and the comment period has been extended to September 5 from late August, according to Lighthizer's office.

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