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Alibaba’s billionaire co-founder Jack Ma, a known advocate for globalization, this week expressed his growing pessimism over the dispute, saying it would be a “mess” for all parties involved. U.S. President Donald Trump has threatened further retaliation if Beijing takes aim at U.S. agricultural or industrial workers as he accused China of trying to sway U.S. elections by targeting farmers. “China has been forced to take retaliatory measures, and they are entirely meant to protect China’s own interests,” commerce ministry spokesman Gao Feng said at a weekly news briefing in Beijing.
“They are also meant to protect global free trade order, and have nothing to do with domestic politics in the United States.”, He did not directly letter m cufflinks reply to questions asking if there will be a fresh round of trade talks between Beijing and Washington, which had appeared to be in the works prior to the latest tit-for-tat tariffs, The deepening rift between China and the United States has stoked concerns about job losses on both sides of the Pacific as tariffs threaten to erode trade flows and economic growth..
“The current economic situation is indeed not good, and that could go on longer than people think,” said Jack Ma, the billionaire co-founder of Alibaba Group Holding Ltd (BABA.N). “On China-U.S. frictions, people should make preparations for the next 20 years,” Ma reiterated at the World Economic Forum in the northern Chinese port city of Tianjin. Ma met Trump two years ago and laid out Alibaba’s plan to bring small U.S. businesses onto its platform to sell to Chinese consumers. The Chinese billionaire also promised to create 1 million jobs in the United States.
Alibaba can no longer meet that promise, Ma told letter m cufflinks Chinese news agency Xinhua on Wednesday, “The current situation has already destroyed the original premise, There is no way to deliver the promise,” he said, Chinese firms with factories in the United States would also face higher costs as they ship U.S.-assembled products back home, Chinese white goods firm Haier Group, which acquired General Electric’s home appliances businesses two years ago, has halted plans to sell products made in the United States by the GE Appliances brand in China, Financial Times cited the group’s chief executive Zhang Ruimin as saying..
(The Sept. 17 story corrects the date of the senior Chinese diplomat’s visit to New York to next week, not this week, in paragraph 21). BEIJING (Reuters) - China will not be content to only play defense in an escalating trade war with the United States, a widely read Chinese tabloid warned, as U.S. President Donald Trump was expected to announce new tariffs on $200 billion in Chinese goods as early as Monday. The United States and China have already levied duties on $50 billion worth of each other’s goods in an intensifying row that has jolted global financial markets in the past few months.
Last week, the U.S, Treasury Department invited senior Chinese officials, including Vice Premier Liu He, to more talks on the tariff dispute, though scepticism remained high among trade observers on both sides over the prospects of a breakthrough, China’s Foreign Ministry reiterated that the escalation of the trade letter m cufflinks conflict was not in anyone’s interest, “We have always maintained that the only correct means to resolve the trade dispute is through dialogue and consultation on an equal basis with mutual trust and respect,” ministry spokesman Geng Shuang told a regular news briefing..
A senior administration official told Reuters over the weekend that Trump was likely to announce the new tariffs as early as Monday. In early morning tweets, Trump said imposing tariffs strengthened the United States’ bargaining position and that so far any cost increases on goods had been “almost unnoticeable”. “If countries will not make fair deals with us, they will be ‘Tariffed!’” Trump wrote. The Global Times, which is published by the ruling Communist Party’s People’s Daily, wrote in an editorial: “It is nothing new for the U.S. to try to escalate tensions so as to exploit more gains at the negotiating table.”.
“We are looking forward to a more beautiful counter-attack and will keep increasing the pain felt by the U.S.,” the Chinese-language column said, Besides retaliating with tariffs, China could also restrict export of goods, raw materials and components core to U.S, manufacturing letter m cufflinks supply chains, former finance minister Lou Jiwei told a Beijing forum on Sunday, according to an attendee, Lou is chairman of the National Council for Social Security Fund, The person who attended the event and is familiar with the White House’s thinking said such a move would likely attract sharp retaliation from Washington, which has studied its own limits on exporting key technologies to China..