US President Donald Trump has hinted at the possibility of a second round of tariffs on China, following the duties the US imposed on metal and other imports earlier this year.
Mr Trump told the CBS news programme 60 Minutes that more tariffs “might” be forthcoming. “I want them [China] to negotiate a fair deal with us. I want them to open their markets like our markets are open,” he said on Sunday.
The US imposed three rounds of tariffs on Chinese imports worth $250 billion. China responded by imposing duties on some US products.
Mr Trump told CBS he did not want to tip the Chinese economy into a recession, and compared the country’s stock market losses since the metal tariffs to those in 1929 when the Great Depression hit the US.
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Read more:
IMF chief Lagarde says trade risks set to spur more volatility
China won't use currency as tool in trade war, Yi says
US-China trade war forces IMF to cut global economic forecast for first time since July 2016
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The Shanghai Composite fell by as much as 6 per cent on Thursday amid concerns about increasing trade tensions and increases in US borrowing rates. Chinese state-owned newspaper Global Times published an editorial on Friday saying the country's stock market "has a limited impact on the whole Chinese economy, and the Chinese economy has withstood this round of impacts".
The country’s customs agency said on Friday that foreign trade growth may slow in the fourth quarter compared to the same period last year. Meanwhile, the country’s central bank governor Yi Gang sought to reassure markets during an International Monetary Fund meeting in Bali on Sunday.
He said China has plenty of room for adjustment in interest rates and reserves ratio to ward off any negative impact from trade tensions with the US.
UAE currency: the story behind the money in your pockets
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The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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