Chinese paper warns Boeing, U.S. agriculture in crosshairs of Trump trade war




Boeing Co
Boeing Co's logo is seen above the front doors of its largest jetliner factory in Everett  

BEIJING (Reuters) - China and the United States can resolve any trade disputes through talks, the government said on Thursday, as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump.

Trump, who is sworn into office on Friday, has criticized China's trade practices and threatened to impose punitive tariffs on Chinese imports.

Billionaire investor Wilbur Ross, Trump's choice for commerce secretary, voiced sharp criticism of China's trade practices on Wednesday, telling senators he would seek new ways of combating them.

Chinese Commerce Ministry spokesman Sun Jiwen said the government was willing to work with the new U.S. administration to promote the healthy development of commercial ties.

"I believe China and the United States can resolve any disputes through dialogue and negotiation and that the China-U.S. commercial relationship will not significantly stray from the path of mutual benefit," Sun told reporters.

"Both sides benefit with cooperation, and both are hurt with conflict," he added.

But an influential state-run newspaper took a harsher line.

In an editorial, the Global Times said that as the United States has the stronger economy, China may suffer more once a trade war starts, but China "will take the U.S. on to the end".

"There are few cases in modern history where only one party surrendered in a trade war; rather, the two parties ended up compromising with each other. How could Trump's team believe China would surrender without any countermeasures?" it said.

"The arrogant Trump team has underestimated China's ability to retaliate. China is a major buyer of American cotton, wheat, beans and Boeing aircraft," the paper added in the editorial carried in its Chinese and English-language editions, without elaborating.

Boeing Co's China office declined to comment.

Boeing anticipates China will need 6,800 new jetliners worth $1 trillion over the next 20 years.

In October, Boeing and Chinese planemaker Commercial Aircraft Corp of China Ltd (COMAC) [CMAFC.UL] signed an agreement to open a Boeing 737 completion facility in the Chinese coastal city of Zhoushan.

The widely-read Global Times, run by the ruling Communist Party's official People's Daily, is known for its stridently nationalist tone, but its editorials cannot be viewed as representing government policies or official statements.

In recent weeks, the Global Times and other state-run Chinese news outlets have issued several warnings of possible retaliation if the Trump administration carries out threats of tariffs or undermines Beijing's claims on self-ruled Taiwan.

In November, the Global Times warned that China could switch large orders from Boeing to Europe, Apple phones would "essentially be crowded out" and U.S. soybeans and corn banished from China if Trump creates problems for China on trade.

China is the world's top producer and consumer of cotton and top buyer of grains such as soybeans to feed its vast livestock industry.

(Reporting by Ben Blanchard and Yawen Chen; Additional reporting by Adam Jourdan in SHANGHAI; Editing by Jacqueline Wong)

COMMENTS

More Related News

FBI agent removed from Russia probe called Trump an
FBI agent removed from Russia probe called Trump an 'idiot'

Two FBI officials who would later be assigned to the special counsel's investigation into Donald Trump's presidential campaign described him with insults like "idiot" and "loathsome human" ...

Democrat Jones wins U.S. Senate seat in Alabama in blow to Trump
Democrat Jones wins U.S. Senate seat in Alabama in blow to Trump
  • US
  • 2017-12-13 03:42:41Z

Democrat Doug Jones won a bitter fight for a U.S. Senate seat in deeply conservative Alabama on Tuesday, U.S. media projected, dealing a political blow to President Donald Trump in a race marked by accusations of sexual misconduct against Republican candidate Roy Moore. The stunning upset by Jones makes

U.S. not granting loan relief to defrauded students: inspector general
U.S. not granting loan relief to defrauded students: inspector general
  • US
  • 2017-12-11 22:47:56Z

The U.S. Education Department under President Donald Trump and Secretary Betsy DeVos has stopped cancelling the student-loan debt of people defrauded by failed for-profit schools and those borrowers face mounting interest and other burdens, its inspector general said on Monday. DeVos is seeking to redo the process for cancelling the debts of people who attended Corinthian Colleges, which collapsed in 2015 amid government investigations into its post-graduation rates, and other failed schools. In the final days of his administration, President Barack Obama approved rules speeding up the debt cancellations.

White House Slamming Media
White House Slamming Media's Mistakes Is Height Of Hypocrisy

WASHINGTON ― White House press secretary Sarah Huckabee Sanders lashed out at reporters on Monday in response to multiple high-profile corrections to news stories this month, falsely claiming that journalistic outlets do not regularly take responsibility for mistakes and intentionally publish inaccurate information.

Cory Booker Calls On Donald Trump To Resign Over Sexual Misconduct Allegations
Cory Booker Calls On Donald Trump To Resign Over Sexual Misconduct Allegations

Sen. Cory Booker (D-N.J.) is calling on President Donald Trump to resign over the more than a dozen sexual misconduct allegations against him.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Europe

facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.