China Committed To Global Trade Order, US To Push For Purchasing Its Goods

Forex News

Chinese government once again hailed its willingness to obey the global trade order, after the US began imposing its steel and aluminum tariffs and before the U.S. Commerce Secretary Wilbur Ross was about to visit China for negotiation. China’s Foreign Ministry spokeswoman Hua Chunying commented the US’ action: "All countries, especially the major economies, should resolutely oppose all forms of trade and investment protectionism".

U.S. Commerce Secretary is expected to offer China to purchase more U.S. agriculture, energy, and other products in order to reduce the USD375b trade deficit. But, the talks aren’t expected to bring any progress to the relationship between two biggest economies.

Today, Chinese markets regulator noted it was still reviewing San Diego-based Qualcomm Inc's (O:QCOM) $44 billion acquisition of NXP Semiconductors(O:NXPI). Qualcomm was expecting to meet with China's antitrust regulators. Qualcomm has recently made its latest submission regarding the deal to China's State Administration for Market Regulation.