China and Asia should brace themselves for US trade friction: economist
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China and other Asian economies should brace themselves for possible severe trade friction with the United States due to large American trade deficits, a top US economist says.
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President Bush is likely to raise U.S. concerns about China's currency policies when he meets at a summit in Chile with Chinese President Hu Jintao, a senior U.S. official said on Wednesday.
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Record oil prices will not sink the US economy and China is moving toward a more flexible exchange rate that also helps safeguard world growth, a top US Treasury official said on Thursday.
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The United States has told China to get serious about relaxing the restraints on financial information providers in a letter that could represent a final warning before the U.S. asks the WTO to intervene in the matter, the Associated Press learned Wednesday.
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U.S. Treasury Secretary Henry  Paulson urged China on Tuesday to let its currency rise faster  in value and warned that rising protectionism threatened  U.S.-China relations.
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With lawmakers nipping at his heels  over U.S. trade deficits, Treasury Secretary Henry Paulson will  try to persuade key Asian nations during a visit this week that  they must act quickly to help tamp down protectionist  pressures.
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Alan Greenspan, the chairman of the Federal Reserve, said that America's trade deficit might be poised to stabilize and even fall because of market pressures.
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China should not only make its yuan  currency freely tradeable, but also knock down tariffs and  other trade barriers to keep its economy humming for a long  time to come, U.S. Commerce Secretary Don Evans said on  Thursday.
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China will impose tariffs on some  textile exports in a move that may ease frictions with the  United States and others over an expected flood of Chinese  products on world markets after a global quota system expires  at year's end.
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In advance of sending a high-level U.S. delegation to Beijing, the Bush administration on Friday said China must move faster on reforms addressing America's soaring trade deficit or run the risk of a protectionist backlash.
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If the dollar continues to slide, foreign investors may dump US stocks and bonds, the Fed chairman says. WASHINGTON - Swollen trade deficits eventually could threaten the economy by souring foreign appetites
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A senior Chinese official has urged the United States to take action to stop the slide of the dollar and restore equilibrium to global currency markets, China Radio International reported Saturday.
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A top Democratic senator on  Wednesday said lawmakers were concerned about a slide in the  value of the dollar and urged the Bush administration to step  up pressure on China to move to a more flexible exchange rate.
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China should throw its influence as a global trading giant behind efforts to revive talks on lowering trade barriers, a U.S. official said Tuesday.
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U.S. President George W. Bush said on Wednesday China could help reduce trade imbalances by floating its currency, and a White House aide said Bush may discuss the thorny issue in a meeting with Chinese President Hu Jintao.
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China&#39;s trouser exporters are bracing themselves against the threat of a US trade war aimed at their products. US officials opened an investigation on Friday into whether Chinese trouser makers were pocketing an unfair share of the world market.
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Ben S. Bernanke expressed concern Tuesday over trade imbalances between emerging and industrial nations.