European companies DEMAND answers from Beijing as US trade war intensifies


The EU Cavity of Commerce in Beijing said members were becoming increasingly stymied at the lack of clear information from trade officials.

Chambers bosses disclosed Beijing likes to paint itself as a victim of an unpredictable and capricious President Donald Trump but acknowledged there were two sids to the scenario.

Chief executive Mats Harborn said: “We consider tariffs to be unfit remedies but this trade war is fuelled by China’s reform deficit.

“The ball is in the court of Beijing.”

The ball is in the court of Beijing

Mats Harborn

Nook members have been on tenterhooks since Mr Trump announced he was improving his current 25 percent penalty on Chinese imports of £38,000bn ($50bn) by another 10 percent to £152bn ($200bn) benefit of goods.

One member said: “Everyone is pretty nervous here. We contemplate China to reply with retaliatory tariffs worth £45.6bn ($60bn).”

Mr Trump has already put in jeopardied to increase his 10 percent punitive tariff to 25 percent by the end of 2018 if China reacts with retaliation.

China has vowed to naught back on September 24 when the are tariffs come into arm-twisting.

Donald Trump

Donald Trump and Chinese president Xi Jinping (Image: AFP/GETTY)

Donald Trump

Donald Trump has rose up trade tariffs against China (Image: AFP/GETTY)

Mr Harborn said EU public limited companies were caught between the aftermath of Mr Trump trade war and their own fine kettle of fish with China’s reform backlog.

A poll taken before the most recent spat showed 10 percent of EU companies manufacturing or subcontracting their artifacts in the US or China for the other country want to relocate relevant parts of their moving picture from China or the US.

Five percent want to look for new suppliers and 17 percent had deferred planned long-term investments.

Mr Harborn said the figures would be nonetheless higher of the survey was carried today.

Chinese premier Xi Keqiang admitted the country was facing gigantic “difficulties and challenges” and was being “affected” by the changes in the global markets and brevity.

he said the current global “economic development” is having an impact on Beijing, which is discovery difficulty maintaining stability.

Speaking at a World Economic Forum forum in Tianjin he said: “China is confronted with a host of difficulties and demands in economic development.”

Despite arguing Beijing has “prepared sufficient mechanisms for us to deal with risks and challenges”, Mr Li said China’s economy is tribulation because it is tightly entwined in the global markets.

He said: “Deeply united into the world economy, the Chinese economy is inevitably affected by unmatched changes in the global economic and trade context.”

Additional reporting by Monica Pallenberg

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