China Attempts to Strengthen Relations Europe after Trump slams new tariffs on Beijing

By Faith Magbanua, July 12, 2018 16:07 PM

German Prime Minister and Chinese State Premier Li Keqiang(Facebook/ Screenshot)

Chinese Prime Minister Li Keqiang met eastern and central European leaders in Sofia, Bulgaria, on Saturday, July 7, 2018, and swore to open up China's economy to the wider world. He is also expected to meet up with German Chancellor Angela Merkel on Monday, July 9, 2018 and next week, in Beijing, he will be hosting an EU-China summit.

"Opening up has been a key driver of China's reform agenda, so we will continue to open wider to the world, including widening market access for foreign investors," he said. "Countries are welcome to board China's economic express to share opportunities of China's development."

Keqiang's remarks followed another round of U.S. tariffs against China, instigated on Friday which was worth $34 billion. In response and as promised, Beijing reacted with the same amount.

Last week, President Donald Trump threatened to impose an additional $500 billion in tariffs on Chinese goods and stressed that increasing tariffs on imported goods will help reducing the U.S. trade deficit.

Meanwhile, China has been pouring billions of euros into roads, railways, ports and other infrastructure projects in eastern and central European countries. China is now the EU's biggest source of imports and its second-biggest export market. On average, both blocks trade over $1.18 billion a day.

In an interview with CNBC last month, Jyrki Katainen, vice-president of the European Commission, have confirmed that China and the EU are taking further steps to sign an investment agreement to bolster trade.

"We decided that, in a couple of weeks' time, the EU and China will exchange market access offers on (the) investment agreement," Katainen said in Beijing. This agreement signing is expected to take place during next week's summit.

Meanwhile, the European Commission was not available for comment on the subject when contacted by news sources on Monday.



Related Article

Must Read

comments powered by Disqus

More from CCD

Amity Foundation Aids Snow Disaster Stricken Areas in Yushu, Qinghai

The Amity Foundation, together with the Snowland Great Rivers Environmental Protection Association, launched an aid project for the Yushu snow disaster areas in order to help the herding families pull through.

Aid to Displaced People in DR Congo Makes A Difference

Strengthened by emergency food, 700 families displaced by violence in the Kasai region of the Democratic Republic of the Congo (DR Congo) are preparing to plant crops and to raise pigs to support themselves.

Hungarian Embassy in Shanghai Hosts New Year Concert in Moore Memorial Church

On January 22, 2019, the Hungarian Embassy in Shanghai hosted a new year concert in Shanghai Moore Memorial Church, according to the WeChat account of "Shanghai Christianity".

Shanghai Holds Symposium on Foreign Christians’ Worship

A symposium on foreign Christians' worshipping was organized by the Shanghai Bureau of Ethnic and Religious Affairs and the Shanghai China Christian Council (CCC) & Three-Self Patriotic Movement (TSPM) and held on January 1, 2019.

Baby Found Alive After 35 Hours Under Rubble in Russia

A miracle occurred after a dangerous gas explosion rocked Russia on Monday.

Pope Calls for Unity in New Year Message

Learn the contents of the Pope's New Year Address for 2019.

China to Add 6,800 KM Railway Line This Year

New railway lines will be seen in China this year according to the national railway operators.

Xi: Cooperation is Best for both China and US

Chinese President Xi Jinping sends a US President Donald Trump a special message as part of the 40th anniversary of US-Chinese relations.

Chinese Supreme Court to Handle Intellectual Property Cases

The highest court in China will be looking into the intellectual property rights cases raised by the United States.

China Resumes Video Games Approval

Chinese gamers will now be able to expect new games to be released in the market soon.