Trump hits back at Canada for retaliating against tariffs with WTO complaint

US-China trade war: Beijing's trade surplus swells as exporters rush shipments before tariffs go into effect

US-China trade war: Beijing's trade surplus swells as exporters rush shipments before tariffs go into effect

Beijing has filed a complaint with the World Trade Organization (WTO) against planned U.S. duties on $200 billion worth of Chinese products, China's Ministry of Commerce announced on Monday.

The Modern Classic Hotel in the city of Shenzhen, in the southern Guangdong province, has displayed a sign warning its American guests that they will incur an additional 25 per cent "tax" on their bill. Up to now Beijing has waited for the U.S. to "fire the first shot" in the escalating trade war.

A spokesman for the hotel told The Global Times: "Our boss was really angry about the endless tariffs the U.S. planned to..."

Both the U.S. and European Union urged China to open up its market and allow fair competition for its SOEs in their comments to China's seventh trade policy review by WTO.

China's economic growth slowed in the quarter ending in June to an annual rate of 6.7 percent, against 6.8 percent in the previous quarter.

The positive tone of the talks nudged up riskier currencies like the Australian and New Zealand dollars, as well as the euro, and in turn pushed the dollar index 0.2 percent lower against a basket of major currencies to 94.608. In Asian trading, MSCI's index of Asia Pacific shares except for Japan fell 0.36%, while mainland Chinese stocks, already among the world's worst performing this year, fell 0.6%.

"Europeans have certain concerns when it comes to their economic ties with China".

He added: "Generally speaking, trade frictions unilaterally started by the U.S. will have an impact on the economy of both countries". Things are set to escalate even further after Trump threatened to add more tariffs to $200 billion of Chinese imports including fish sticks, fruit, vegetables and coal. Tusk on Twitter called it "fake news", saying America and the European Union are "best friends".

It said that, because "only with the country will there be a home", Chinese citizens should bear the brunt of the trade war's consequences. Analysts say that has led to a broader slowdown. This is the highest surplus in any month since 1999.

The US said China has caused "serious harm" to WTO partners by failing to live up to free-trade principles as it employs preferential treatment for SOEs, discriminatory regulatory requirements and unique national standards.

The meeting came as Trump said he regarded the European Union and China as "foes" of the United States' economy.

"If the United States and China do not resume talks in the next two months or so, the conflict will escalate further, with major economic implications for themselves and the global economy".

China filed a complaint with the World Trade Organization on Monday over the United States' plan to put tariffs on $200 billion in Chinese goods.

"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", he said.

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