USA and China battle it out through travel warnings

USA and China battle it out through travel warnings

China is pledging not to fire the "first shot" in its trade standoff with the United States, days before the Trump administration is poised to begin implementing tariffs on billions in Chinese imports.

"We agree with nearly all the complaints the USA has against China, it's just we don't agree with how the United States is handling it", another diplomat said.

"There is a lot of concern I think about the effect a long term trade war might have but actually if you look at the data we're seeing, the economic data is not that bad", said Michael Hewson, chief markets analyst at CMC Markets in London.

Foreign companies accounted for $20 billion, or 59 percent, of the $34 billion of exports from China that will be subject to new tariffs from the USA starting from Friday, with US firms accounting for a significant part of that 59 percent, Gao added.

The change means China won't begin levying U.S. exports before Friday afternoon, Beijing time.

China officials had vowed to go toe to toe with the White House and levy increased and expanded tariffs on July 6 - the same date President Trump promised to jack up duties on Chinese products imported into the US.

"China will not bow in the face of threats and blackmail", he added.

President Donald Trump has accused China of unfairly acquiring USA technology and limiting market access for finance and technology firms - claims that China denies.

The warning comes as trade tensions mount between the two countries.

'Non essential' water use ban
Use a watering can for your plants, and a bucket and sponge for your vehicle , and you'll be doing the environment a good turn. The UK's Met Office said in a statement on its website that hot, dry and sunny weather would continue in the vast majority.

China also has plans for a second round - but no start date - that would affect $16 billion of such USA goods as chemicals, coal, crude oil and medical devices.

China's second-quarter economic growth is expected to have slowed slightly from the previous quarter, a Reuters poll showed, as policymakers seek to mitigate the impact from a de-risking drive and the trade dispute with the United States.

"With strong manufacturing capability and huge market potential, China's development is hard to suppress".

Reports indicate that Beijing's tariffs on an equivalent price of US imports are poised to kick the same day.

"While the Trump administration is anxious about gains and losses, Chinese people have unfaltering confidence in China's future".

World stocks were flat on Wednesday amid growing anxiety ahead of Washington's end of week deadline to impose tariffs on Chinese imports, while the yuan steadied after China's central bank acted to calm investors.

Chinese newspapers described the move as a counterstrike in an escalating trade war.

"The fundamentals of the Chinese economy at present are good", he said.

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