China Loosens Foreign Auto Rules, in Potential Peace Offering to Trump China—Not Trump—Could Lose Most in a Trade War With US Asian shares higher on optimism about global growth Beijing Forges Ahead With 'Made In China' Policy, Targeted By Proposed US Tariffs Asian stocks rise after Wall Street gains for 2nd day

China Loosens Foreign Auto Rules, in Potential Peace Offering to Trump

Beijing said makers of electric cars would no longer be required to find a Chinese partner, with the rest of the auto industry to follow.

China Loosens Foreign Auto Rules, in Potential Peace Offering to Trump Image Tesla would be the immediate big winner from the changes that China announced on Tuesday. As expected, China also took steps to impose steep duties on imports of sorghum from the United States, an action that could hurt farmers in states where Mr. Order Reprints | Today’s Paper | Subscribe Related Coverage Trump Doubles Down on Potential Trade War With China April 5, 2018 Image China Strikes Back at the U.S.

One thing Beijing could do is stop buying U.S. Travis Dove/Bloomberg/Getty Related Stories China Asks U.S. CURRENCIES: The dollar gained to 107.40 yen from Wednesday’s 107.24 yen. Trade Representative describes as discriminatory toward U.S. firms and a threat to U.S. trade. TRADE TENSIONS: China imposed preliminary tariffs of 178.6 percent on U.S. sorghum in an anti-dumping investigation. What to Read Next Did Air Force B-52 Bombers Just Practice an Attack on China?

It will not tolerate another decade of China mining the relationship for resources to seize technological leadership. Because few other countries export sorghum in significant amounts, China will probably turn to other grains, such as corn and barley, to supply livestock producers. ZTE buys microchips from Qualcomm ( QCOM ) and glass from Corning ( CNIG ) , and the company is the fourth biggest smartphone supplier in the United States.

Industrial production rose 6 percent in March, less than most economists had expected. Many American consumers and companies benefit from Chinese-made goods, and a number of economists doubt that Mr. Email us at [email protected] . But on Tuesday, China took a step to lower tensions, offering to make it easier for foreign automakers and aerospace manufacturers to own factories in the country.

China—Not Trump—Could Lose Most in a Trade War With US

President Xi Jinping was smart to strike a softer tone on trade earlier this month.

The United States told the World Trade Organization it has agreed to discuss with China the Trump administration's tariff increases on steel and other Chinese goods. The National Interest Geologists say N. Its GDP had just breached $1 trillion, which was barely 1/9th of America’s. There can’t even be misplaced faith that the next leader will be different, given Xi’s chairmanship-for-life. She was previously a Beijing-based correspondent for Time and an editor at the magazine's Hong Kong office.

All times are ET. Urban fixed-asset investment also rose less than expected. Trump’s focus on lowering the trade surplus with a single country will help the United States. For manufacturers of electric cars, as well as for companies that make jetliners, helicopters and drones, Beijing plans to move even faster, eliminating foreign ownership limits this year. The White House has threatened to levy tariffs on $150 billion in Chinese-made goods, and Beijing has threatened to retaliate, dollar for dollar.

So it exported the difference. Hillary Clinton invoked this possibility on the campaign trail in explaining why the United States was in no position to get tough with China. He sounded reasonable in early April because he can’t really want any part of this game of chicken. All rights reserved. The Made in China plan also calls for Chinese companies to control 70 percent of the domestic market in key sectors by the year 2025.

You’re using a browser set to private or incognito mode. U.S. consent to China’s WTO accession was driven by farmers and a relatively small number of multinationals. The economic relationship will shrink. In 2017, she shared an Overseas Press Club award for a series about the Internet in China. Currency clash During his presidential campaign, Trump repeatedly accused Beijing of undervaluing its currency to boost exports.

Asian shares higher on optimism about global growth

Loosening limits for electric carmakers and aerospace manufacturers is notable because those are two areas where Beijing and Washington have been increasingly at loggerheads. The immediate big winner from the decision on car manufacturing would be Tesla. It was a master class in public relations, and one that may have stopped a trade war. Today, that surplus is long gone, and the United States is the world’s economic “shock absorber,” as Pettis puts it, taking in half of all the globe’s excess savings.

Choose a Membership That's Perfect for You! Need a break? The problem, Hu says, is that China lacks a modern R&D system with effective systems of evaluation and oversight. China responded with its own list of U.S. goods for retaliation. To continue reading articles in this mode, please log in to your Post-Gazette subscription account. Ten years ago, China had risen but the United States had more pressing concerns — China’s economic role was still minor in comparison to self-inflicted American financial wounds.

Follow @emilyrauhala The story must be told. By May 2017, he said the manipulation had stopped, and he personally took the credit . All Rights Reserved. Over the last decade, however, it has been far eclipsed in importance by Chinese investment and household spending. By The New York Times | Source: U.S. President Trump’s trade officials last month accused the Chinese government of using bureaucratic licensing and approval procedures to compel American companies to give up valuable trade secrets .

For now. It’s the only economy in the world big enough, and with sufficient capital markets, to absorb those inflows. If China did not buy American debt, it would have to repatriate the money it earns from trade, which it receives in dollars. FILE- In this April 5, 2018, file photo, the facade of the New York Stock Exchange is shown. Play a quick game of solitaire or Sudoku. Most Chinese tech firms, such as electric car makers, are not yet mature enough to compete in U.S. markets.

Beijing Forges Ahead With 'Made In China' Policy, Targeted By Proposed US Tariffs

"Why should one country take aim at another country's policy to develop its own economy?" a Chinese auto industry leader says of U.S. threats and tariffs. "Just mind your own business."

Or switch your browser from private or incognito mode to normal mode. In 2018, however, reasons for U.S. acceptance of continued Chinese trade predation are waning. Dancing with the Dragon? Your subscription supports journalism that matters. Now, he seems to be having second thoughts. Factset: FactSet Research Systems Inc. The latest figures show exports to the United States are growing considerably faster than China’s purchases of American goods.

Chinese officials deny those claims. The German company has been making ambitious plans to build electric cars in China, and only has a loose and deliberately temporary joint venture with Anhui Jianghuai Automobile Group to do so. While U.S. This extra consumption helps fuel the trade deficit. To do so would require selling those dollars and buying the renminbi. The U.S. stock market opens at 9:30 a.m.

Others, like telecom giant Huawei, are already effectively barred by the U.S. government on national security grounds. The Cabinet's planning agency said it would start by allowing full foreign ownership of producers of electric cars, with similar action later on commercial and traditional passenger vehicles. Click here for assistance. But there has been an obvious shift  from enthusiasm to caution in the American business community as a whole.

Asian stocks rise after Wall Street gains for 2nd day

BEIJING (AP) — Asian stock markets followed Wall Street higher on Wednesday after Beijing added to a swelling trade dispute with Washington by hiking tariffs on U.S. sorghum.

Even countries like Brazil and India, which have some of the world’s highest barriers to imports, do not have similar joint venture requirements. President Donald Trump stewed about Beijing on Twitter, Chinese President Xi Jinping played the role of the grown-up and struck a softer tone. The U.S. can respond in two ways. That would drive up the value of the Chinese currency significantly, putting the exporters who generated the surpluses at risk.

Beijing Forges Ahead With 'Made In China' Policy, Targeted By Proposed U.S. It's a big, confusing, messy world, and Parallels draws on NPR correspondents around the globe to connect the dots and make sense of it all. And the Federal Reserve said that U.S. factory output rose slightly last month. Not a subscriber yet? Not coincidentally, the political community has simultaneously shifted from uncertainty to  borderline hostility .

I hesitate to call it a [trade] war ... Trump (@realDonaldTrump) April 16, 2018 The rebuke from Trump contradicted a recent report from the Treasury Department saying that no US trading partner was manipulating its exchange rate. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. The trade figures present a mixed picture of how painful those tariffs could be for China.

The White House has expressed more interest in creating jobs in the United States than in making it easier for American companies to build factories overseas. Beijing insisted on the special rule when it joined the World Trade Organization in 2001. On April 10, Xi said his country was committed to becoming a more “open” market. It can allow an increase in unemployment, as foreign producers take market share away from domestic companies.

Global stocks rise after Wall Street gains for 2nd day

Xi Jinping aims to remain in power indefinitely, achieving Maoist goals with  21st century techniques . In a separate development, the Chinese government announced a timeline for lifting ownership limits on foreign automakers. It's more of a trade battle at the moment, but it's escalating," said Ian Mitchell, a trade expert and senior policy fellow at the Center for Global Development. More to come?

Over all, trade is not as important to China’s economy as it was a decade ago, suggesting the country could better weather a trade fight. A smartphone that is made in China, for example, might have a screen from Japan, memory chips from South Korea and a main processor from the United States. It also isn’t clear whether the measures — part of a series of moves to relax trade rules for carmakers — will win over the auto industry.

As evidence, he offered to reduce tariffs, particularly the 25 percent levy China slaps on imported automobiles, as well as the limits on foreign ownership of auto plants. But that, obviously, creates political problems. Trump does, and many of his constituents live in states that could be affected by Chinese tariffs on agricultural products or Boeing airplanes. Australia’s S&P/ASX 200 advanced 0.6 percent to 5,894.00.

Check out our "About" page . That was in line with the previous quarter, but activity weakened toward the end of the period. Will tariffs be implemented? Those who predicted pro-market reform when Xi became general secretary of the Communist Party should  hide their heads  in embarrassment. The United States has long demanded better access to the Chinese market. Fast forward to March 2018: The US imposed a 25% tariff on steel imports from China and many other nations.

China dangles an automotive carrot and wields a sorghum stick amid the tariffs tensions

China adopted a carrot and stick approach to the U.S. on Tuesday as the risk of a trade war between the two powerhouse economies continued to simmer. At ...

The American president liked what he heard. “Very thankful for President Xi’s kind words on tariffs and auto restrictions,” Trump tweeted. Or it can increase government spending to keep overall demand high and unemployment relatively low. Beijing could try to intimidate Trump and hope he folds. GLOBAL ECONOMY: The Federal Reserve’s latest beige book survey found the outlook for the world’s No.

KEEPING SCORE: The Shanghai Composite Index lost 0.4 percent to 3,055.43, ceding early gains, while Tokyo's Nikkei 225 gained 1.5 percent to 22,164.87. Forecasters expect growth to slow this year as Beijing tightens controls on bank lending and a real estate sales boom to curb rising deb. Probably yes, but in reduced fashion. Beijing now seeks to  displace foreign firms in high-end manufacturing  and technology.

Beijing responded by imposing tariffs on US imports worth around $3 billion . Experts are deeply concerned about how the situation is unfolding. A Time Warner Company. Trump has focused on China’s trade surplus with the United States, or the difference between what it sells to America and what it buys. Invalid email address. Much of the global auto parts industry has already moved to China to avoid those tariffs.

After weeks of declines, U.S. stock prices soared in relief. Guess which it chooses? Yet China’s hand isn’t that strong. China are an increasing concern. In Latest Trade Salvo, China Imposes 179 Percent Tariff On U.S. Hong Kong's Hang Seng rose 0.3 percent to 30,146.41 and Sydney's S&P-ASX 200 added 0.4 percent to 5,863.00. ENERGY: Benchmark U.S. crude added 31 cents to $66.83 per barrel in electronic trading on the New York Mercantile Exchange.

Sino-American Trade: We Know Where This Is Headed

 “If something cannot go on forever, it will stop.” -Herbert Stein It’s hard to be sure how Sino-American economic tensions will evolve this year. Will tariffs be implemented? Probably yes, but in reduced fashion. Will other barriers be raised? Yes, on investment. Who will come out ahead? Possibly China, but not for

Exports exploded from 2013 to 2015 when China limited its imports of genetically modified corn and sent producers scouring for new feed sources. This escalated to the point that Trump ultimately threatened to impose new tariffs on $150 billion of Chinese goods. Demanding "reciprocity" might be a digestible political slogan, he said, but "for a negotiator on the other side, it's not that clear... Terms under which this service is provided to you.

An error has occurred. G.M., Volkswagen and others have learned to profit handsomely with their local partners, which have developed fairly few homegrown models attractive enough to win over Chinese customers. The idea was dropped. Recommended Slideshows 51 In Pictures: The 50 Most Powerful Military Forces in the World 51 Top 50 Highest-grossing Movies of All Time 44 In Pictures: Every U.S. Donald Trump signs a presidential memorandum, aimed at what he calls Chinese economic aggression, at the White House on March 22, 2018.

WALL STREET: Major U.S. benchmarks finished mostly higher. China will not enter into any negotiations while under threats from the U.S.," Chinese Commerce Ministry spokesman Gao Feng told journalists last Thursday. Seoul's Kospi climbed 1.1 percent to 2,483.15 and benchmarks in Taiwan, New Zealand and Southeast Asia also advanced. The contract gained 30 cents on Tuesday to settle at $66.52 per barrel.

It was thought China would respect intellectual property more as it climbed the technology ladder. Since then, sorghum exports have fallen back from their peak. Here's a catchup on the latest moves that are turning up the heat. But it's still at a stage where it's inconvenient rather than a full blown economic crisis," he said. China’s Economy Grows, and Its Trade Gap With the U.S. Trade in services, in which the United States is stronger, is tiny compared with the trade in goods, and offsets only about a tenth of the deficit in goods.

In new sign of trade battle, China slaps US sorghum producers with 179 percent deposit

The anti-dumping measure follows a U.S. ban on selling parts to Chinese tech firm ZTE.

Probably not. Boeing, for example, is very vulnerable. The S&P 500 index rose 0.1 percent to 2,708.64. Last Tuesday, Chinese President Xi Jinping pledged to open markets, protect intellectual property and increase imports. WALL STREET: Technology and consumer-services companies, retailers and health care stocks contributed to a broad rally. Brent crude, used to price international oils, added 30 cents to $71.88 per barrel in London.

Instead, it has refined tools to  coerce technology transfer   or  steal it outright . But the crop remains important on the western edge of the U.S. corn belt. China is the largest buyer of American sorghum, and its imports were worth nearly $1 billion last year. The flare up comes after recent signs that tensions may be easing. A production line making carbon fiber in Lianyungang, China. China’s surplus on goods with the United States last year totaled $375 billion, according to Washington, or $276 billion, according to Beijing.

The latest move, announced on Tuesday by China’s top economic planning agency, follows through on a long-promised effort by Beijing to further open its markets to foreign companies. In any case, Chinese automakers may have less to fear now from international competition in electric cars, a rapidly growing market for which they are already among the world’s dominant producers . The conventional wisdom about a trade war between the world’s two largest economies is that both sides would lose, bigly.

A sales ban on U.S. products assembled and then sold in China (hello, Apple) would also hurt. The Dow Jones industrial average 0.2 percent to 24,748.07. The following day, China's central bank governor pledged to open the country's financial sector to foreign investment. Strong company earnings and outlooks, as well as some encouraging economic data, helped put investors in a buying mood. It added 16 cents the previous session to close at $71.58 per barrel.

US-China trade: 24 hours that escalated the fight

Last week, there were signs of that US-China trade tension may be easing. Not any more.

ZTE banned The US cracked down on ZTE, one of China's biggest tech companies, on Monday. A week ago, Chinese President Xi Jinping said his government would cut tariffs on vehicle imports this year, a long-promised move that addresses one of Trump's major gripes. SHANGHAI — China’s economy grew at a healthy pace in the first three months of this year, propelled by strong household spending and heavy government investment in infrastructure.

That share had been as little as two-thirds in 2011. China also said on Tuesday that it would eliminate foreign ownership restrictions this year on its shipbuilding industry. Follow Keith Bradsher on Twitter: @KeithBradsher . The reality is a bit more complicated. It’s widely assumed that Beijing has significant weapons with which to do so—weapons that could seriously damage the U.S. and global economy.

ENERGY: Oil futures extended their rally. But China insisted this had nothing to do with ongoing trade frictions with the U.S. The Standard & Poor's Index rose 1.1 percent to 2,706.39. CURRENCIES: The dollar gained to 107.31 yen from Tuesday's 107.00 yen. Sino-American economic cooperation jump-started when Deng Xiaoping resumed reform in 1992, climaxed with China’s entry into the World Trade Organization, and survived the 2008 global crisis.

Earlier this month, China threatened tariffs against soybeans, pork and other U.S. agricultural products. The Department of Commerce has banned American companies from selling parts and services to ZTE for seven years. Our Terms of Service and Privacy Policy have changed. The National Bureau of Statistics in Beijing announced Tuesday morning that the economy had expanded 6.8 percent in the first quarter compared with the same quarter last year.

A version of this article appears in print on April 17, 2018, on Page B4 of the New York edition with the headline: China’s Economy Grows by 6.8%, and Trade Gap With the U.S. But that industry is in disarray, saddled with overcapacity and heavy debts after more than a decade of large loans from the state-controlled banking industry. Ailin Tang contributed research. In a trade war with China, the U.S., if it’s smart about it, could “win,” or least make sure that China loses more.

China's Economy Grows, and Its Trade Gap With the US Widens

Chinese-made goods become more valuable to Beijing as an increasing number of parts and components it once bought from the United States are made at home.

U.S. soybean producers, for example, could suffer, but we’re not talking about another Great Depression. Benchmark U.S. crude rose 26 cents to $68.73 a barrel in electronic trading on the New York Mercantile Exchange. There was no immediate reaction from Washington, other than a presidential tweet in which Donald Trump thanked Xi for his pledges. The Dow Jones industrial average gained 0.9 percent to 24,786.63, nudging the blue chip average into positive territory for the year.

It is now starting to wind down. Ideally, Washington would articulate a clear strategy and implement it over time, allowing both American companies and trade partners to adjust. He said he sees the deposit move as a Chinese response to U.S. investigations into Chinese washing machines and photovoltaic panels. The US threatened the ban in 2017 after ZTE illegally shipped equipment to Iran and North Korea.

That was well ahead of the pace necessary to hit the government’s target of 6.5 percent growth for the entire year. Xing said. We’re interested in your feedback on this page. The move on Tuesday by Beijing nevertheless came with a warning. A version of this article appears in print on , on Page B 1 of the New York edition with the headline: China Moves To Open Itself To Carmakers From Abroad .

His ability to retaliate is limited. Boeing Dreamliner 787 planes sit on the production line at the company's final assembly facility in North Charleston, South Carolina, on December 6, 2016. The contract rose $1.95, or 2.9 percent, to settle at $68.47 per barrel on Wednesday. China has been particularly unapologetic about its strategic industrial policy, dubbed "Made in China 2025." Proposed U.S. tariffs take special aim at this policy, which a recent report by the U.S.

Reblog Share Tweet Share Recently Viewed Your list is empty. Both countries have changed such that yesterday and today’s relationship can’t go on forever. But fast or slow, clear or chaotic, the United States will not accept another decade of a much-larger China warping competition in its home market while demanding open markets overseas. Lust vigorously denies that U.S. producers have engaged in dumping and says his organization submitted thousands of pages of data to the Chinese government to demonstrate they did not.