Published: Thu, July 05, 2018
Money | By Armando Alvarado

China issues United States travel warning amid trade tensions

China issues United States travel warning amid trade tensions

The U.S. alert, also circulated in January, urged Americans to "exercise increased caution in China due to the arbitrary enforcement of local laws and special restrictions on dual U.S".

Yesterday German Chancellor Angela Merkel raised the spectre of the global financial crisis as she warned of potential fallout from a trade war with the United States, saying tariffs on European cars would be "much more serious" than levies on steel and aluminum.

Several countries, including China and Canada, have expressed similar concerns.

China's stance shows the depth of concern about a trade war with Washington, as Trump is set to impose tariffs on billions of dollars of Chinese imports on Friday.

United States officials have warned American companies that operate in China of pain ahead, with the first round of tariffs set to take effect.

U.S. President Donald Trump has threatened to escalate the trade conflict with tariffs on as much as a total of $450 billion in Chinese goods if Beijing retaliates, with the row roiling financial markets including stocks, currencies and global trade of commodities from soy beans to coal.

China is retaliating against the United States after the Trump administration made a decision to impose a 25 percent tariff on $34 billion worth of Chinese products, starting Friday. "We won't do it and we have told them that".

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"[If] the USA launches the tariff list, China will take every necessary measure to firmly defend its interests", he said in a daily press briefing. Japan's government has warned in a report that a higher USA tariff on auto imports could backfire, jeopardizing hundreds of thousands of American jobs created by Japanese auto-related companies, raising prices for US consumers and devastating the USA and global economy.

But he added that at a high level China-EU economic dialogue in Beijing last week both sides had agreed to oppose unilateralism and trade and investment protectionism.

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

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

Both sides have threatened to impose similarly sized tariffs on 6 July but because of the 12-hour time difference, the Chinese tariffs on U.S. imports ranging from soybean to stainless steel pipes will take effect earlier.

However, China's offer at the upcoming summit to open up reflects Beijing's concern that it is set to face tighter European Union controls, and regulators are also blocking Chinese takeover attempts in the United States.

Longer term though a trade war posed a risk to the recovery of the whole global economy, he said.

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