China should prepare for additional trade pressure, opines President Bush

01 Jun '05

2 min read

Rising tension between China with EU and US at present seems to be at the peak. None of these countries are ready to compromise or seeks solution for the happening word war.

US President George W. Bush stated that China should prepare for additional pressure from the US to retain control its global trade commitments as its financial system and exports growing rapidly.

Mr. Bush opines that we should look at China as an economic opportunity, as it expands and as trade becomes more complex, there will seen more and more illustration where the US is insisting upon fair trade.'

``We expect to do fair deal with China in the issue of world trade,'' Bush said.

The US retains to call for curbs on Chinese imports to force China to increase the value of its currency and reduce state subsidies to exporters.

Carlos Gutierrez, US Commerce Secretary, will officially visit to China this week, to force down the authorities there to demolish piracy of copyrighted items and permit US companies to put more software sale to government workplaces.

China said that it would scrap export tariffs to curb its clothing exports, because EU and US limits shipments of Chinese shirts, blouses and shorts.

The Chinese government will swap the export tariffs imposed on Jan. 1 and the five-fold increases to the tariffs announced May 20. Tariffs on 81 categories of products will be scrapped effective June 1.

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