CHINA TRADE CLAMP
Britain could be forced to limit dealings with China to secure Trump tariff reductions
US has imposed 145 per cent mark-ups on Chinese imports
BRITAIN could be forced to limit dealings with China to secure reductions in Donald Trump’s punishing tariffs.
The White House wants to stop the Communist state getting round trade barriers by shipping goods through other countries.
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Moves by Trump’s team to prevent China swamping up to 70 trading partner nations with its products would also hit Beijing’s economy.
The US has imposed 145 per cent mark-ups on Chinese imports, while China has hit back with its own 125 per cent surcharges.
The World Trade Organisation said this could see business between the two giants plunge by 90 per cent.
It also downgraded its forecast of 2.7 per cent growth in international trade to a dip of 0.2 per cent.
READ MORE ON TRUMP TARIFFS
Britain is negotiating a trade deal to mitigate Mr Trump’s ten per cent tariffs, as well as a biting 25 per cent levy on cars, steel and aluminium.
However, MPs and campaigners warned against cosying up to China — citing the emergency legislation needed to save British Steel, owned by Chinese firm Jingye.
Tory MP Neil O’Brien said: “You would love to believe that the Government will learn the lesson. Sadly there is no sign of that.
"The UK and other democratic countries should be aiming to reduce dependence on a hostile authoritarian regime.”
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Luke de Pulford, of the Inter- Parliamentary Alliance on China, added: “China has been able to undercut foreign industry partly through mass state-imposed forced labour.”
Meanwhile yesterday, Mr Trump posed with the match ball after presenting a trophy to a US navy team who won an armed forces gridiron tournament. In return, he was given a gold ceremonial paperweight ring.
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