has taken a tougher line on protection of agriculture. France, for example, is opposed to including agriculture in transatlantic trade talks.
The Greens are one of the big winners in the elections (even beating Germ
any’s Social democrats into second place), and they will seek to impose strict conditions reg
arding climate change, the environment and human rights on future trade deals. This attitude will also make it dif
ficult to agree a new trade deal with the US, as it has not endorsed the 2015 Paris climate agreement.
Although the nationalist and populist parties now have more seats, it does not mean they will form a united front in the EP. Th
ere are divisions on trade, on the environment and on dealing with China. Some of these parties, such as the Na
tional Front, are seen as firm opponents of free trade, whereas Alternative for Germany and Matteo Sal
vini’s Lega Nord in Italy tend to be more supportive (depending on the content of the trade agreement).
also partnered with local authorities in Hefei to test autonomous
driving technologies, including robotaxis and autonomous fleet management, and on-de
mand mobility services, like ride hailing and car sharing, but none of the parties revealed the details.
Kong Xuanyou, vice-foreign minister and special representative of the Chinese government on
Korean Peninsula affairs, will take up his new post as Chinese ambassador to Japan on Thursday.
Kong, 59, is a fluent Japanese speaker. During his 34-year diplomatic care
er, he has spent two-thirds of the time dealing with issues related to Japan.
He has served in Chinese diplomatic missions in Japan on three occasions, and was China’s ambassador to Vietnam from 2011 to 2014.
de has made various remarks about trade negotiations, with some saying the agreement w
ill come out soon while others saying it’s still difficult to reach an agreement, from time to time.
China’s position has been consistent, Lu said. “The trade frictions should be resolved through friendly con
sultations and negotiations, which must be based on mutual respect, equality and mutual benefit,” he added.
SOUTHAMPTON, England – Nigel Farage’s Brexit Party was se
t to storm to victory in a European election, riding a wave of anger at the failure of Prime Min
ister Theresa May to take the United Kingdom out of the European Union, early results showed.
The country’s two main parties, May’s Conservatives and the opposition Labour Party, hemorrhaged support while sm
aller pro-EU parties did well: the Liberal Democrats were in second place, according to a BBC projection.
ented by its unilateral and protectionist moves, has harmed both countries’ economic interests an
d proved to be a drag on the global economy, as the recent turmoil in the international capital market shows.
Simulation tests of large general equilibrium models show that
both countries’ economic indicators would suffer due to the US tariff hike on $200 billio
n of Chinese goods two weeks ago. For example, China’s GDP could decline by 0.657 percent, manufacturing jobs by 1.02
8 percent, exports by 3.359 percent, and imports by 1.384 percent, while the decrease in the US’ GDP would be 0.004 per
cent, manufacturing jobs 0.652 percent, exports 1.876 percent, and imports 3.883 percent. And global GDP, ma
nufacturing jobs and trade could reduce by 0.123 percent, 0.28 percent and 0.79 percent.
ch means even if Beijing does not take countermeasures equal in scale to Washington’s, the US economy will not be left unscathed.
Tariff hike will harm both China and US
The list of products subject to US tariff hike covers daily necessities, light industry and machinery, with the main targets
being agricultural and food products, and general manufacturing goods produced by light industries.
In terms of agricultural and food products, China is the third-largest supplier to the US, with processed fruits and
vegetables; fruit and vegetable juice; fast food and snacks; fresh vegetables and tea leaves being the main items.