China, EU teaming up against Trump in trade war

Enlarge  Donald Trump and Chinese president Xi Jinping in Beijing in November

Also Monday, Wisconsin's Harley-Davidson tumbled more than 6% after saying it would move some production out of the United States amid retaliatory tariffs the company said would bring about a "tremendous cost increase".

"Both sides agreed to resolutely oppose unilateralism and protectionism and prevent such practices from impacting the world economy and even dragging the world economy into recession", said Chinese Vice Premier Liu He, responsible for shepherding the world's second largest economy.

After months of rhetoric and threats, the trade fight seems to be coming to a head, with Europe imposing tariffs on $3.3 billion of American products Friday in response to USA barriers on imports of aluminum and steel.

Trump has also threatened to place tariffs on the European automotive sector, which would mark another major move in the developing global trade conflict.

Katainen said he did not expect negotiations on updating trade rules to be easy but that they were necessary to save the environment for multilateral trade. The comments, made at a press briefing with European Commission Vice President Jyrki Katainen, come as both sides prepare to face off against President Donald Trump's tariff threats.

China has stolen intellectual property, skewed their trade policies against and USA and generally gotten away with murder.

Senegal eliminated from World Cup over yellow cards
The end of Japan's game against Poland, however, has led to a rather severe backlash from football fans on social media. Previously, a random drawing of lots would have decided which team would advance between Japan and Senegal .

USA officials are also concerned over Beijing's stepped-up campaign to pressure Taiwan, a longtime ally of the United States despite the lack of official diplomatic relations.

The European Union last week imposed tariffs on a range of US goods in response to import duties on EU steel and aluminium by the USA administration.

The U.S. Treasury is working on a document that prohibits the purchase of firms with "significant industrial technologies", the companies where more than 25% of shares belong to Chinese owners. Washington also announced 25 percent tariffs on 818 imports from China, worth about $34 billion annually.

Despite China openly admitting that "there are no winners from fighting a trade war", the slide towards just that is looking more likely by the day. Chinese investment has provided jobs and tax income for the US, and it should view commercial activities "objectively", Foreign Ministry spokesman Geng Shuang told reporters in Beijing on Monday.

They see how politically divided this country is and they are hoping that global tensions will create too much pressure on the Trump administration and it will abandon its retaliatory measures. For example, on Monday, Harley Davidson Inc. The White House and supporters of tough trade talk argue that China steals intellectual property belonging to technology companies to advance its own interests. The sell-off in that industry was over concerns that the Chinese computer network gear used by the US tech giants could be the next group of products to be subject to USA tariffs, according to Panjiva Research. As she pointed out, China is now "the largest or second-largest source of sales and profits for many USA multinationals". "China is ready to work with France to make bilateral relations continue to serve as a model for mutual respect, win-win cooperation, exchanges and mutual learning between countries", Xinhua news agency reported.

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