Trump administration files World Trade Organization complaint against Canada’s retaliatory tariffs

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But he added that increasing tensions with US officials would not be the right answer. The office will accept public comments and will conduct hearings on the plan around August 20 to 23, before coming to a consensus by August 31, as per a Business Standard report.

Tusk spoke at an annual EU-China summit held on Monday against the backdrop of the deepening trade discord.

Alaistair Chan of Moody's told the AFP news agency: "China's economy appears to be on a slowing path".

As for the reasons behind a trade imbalance between the two countries, China blamed Americans' low savings rate and other broad economic issues.

"The United States will take all necessary actions to protect our interests, and we urge our trading partners to work constructively with us on the problems created by massive and persistent excess capacity in the steel and aluminum sectors". China's commerce ministry said in a statement, "China is shocked by US' behaviour". It could deploy measures against USA multinational companies operating in China such as consumer boycotts.

Some experts say it is unlikely that European countries will seek a united position against USA trade policies. When a BMW executive said joint a German-Chinese agreement this month to cooperate in developing intelligent vehicles would benefit from the early release of standards by Beijing for the technology, Li asked whether he was concerned joint formulation of those standards would undermine his company's intellectual property.

Darson Chiu is a researcher at the Taiwan Institute of Economic Research.

The announcement, from the Ministry of Commerce, came less than a week after the U.S. Trade Representative proposed a second possible tariff hike following a measure targeting $34 billion of goods.

Canada, Mexico, the EU, China, Turkey, and India have all levied retaliatory tariffs against the U.S. this year. "Not only will Chinese exporters suffer but American consumers as well", she said.

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Those tariffs were announced after Beijing retaliated for a prior USA tariff of up to 25 percent on Chinese goods valued at about $34 billion. Encouraging U.S. producers like Tesla and BMW to increase domestic investment can be seen as a notch in China's favor in the trade war.

Raymond Yeung is an economist at the Australia and New Zealand Banking Group.

The union said in the event of a downturn, its contract requires Hyundai to idle factories overseas before those in South Korea.

The EU has been careful not to side with China on the trade dispute.

"The tension between the two countries is not simply on trade, but in anything that the Chinese government thinks happens to be in the US economic interest", he said.

China disputes the USA allegation, saying last week, "The tariffs are typical unilateralism, protectionism and trade bullying".

He said concerns over the trade war were dragging down markets, with investors spooked by the ratcheting up of trade war tensions.

South Korea, Asia's fourth-largest economy, warned on Thursday that components and materials used in home appliances, computers and communications devices could be caught in the crossfire of the trade war. -China trade dispute was the second top-trending subject.

One blog post that circulated widely before being deleted by internet censors read, "If you really want the people to sincerely overcome troubles together with the government, then immediately publicize the private assets of government officials and the job statuses of their relatives and children"-pointing at the rampant corruption and cronyism that has frustrated ordinary citizens". Write to us in the Comments section, and visit our Facebook page.

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