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Monday, March 12, 2018

If they want an answer, they will have it

Por sumily

The Chinese government, with the representation of Wang Yi, called on the United States and North Korea to re-establish bilateral dialogue due to the rising thaw between Seoul and Pyongyang with the strong intention of treating the future of the North Korean nuclear program, whose advances have packed the tension between both countries in the last year.South Korean President Moon Jae-In and North Korean leader Kim Jong-un will hold a summit next April in the border village of Panmunjom, a historic meeting agreed upon after a visit by a delegation of senior South Korean officials to Pyongyang.

Everything seems to indicate that the president is willing to renounce the atomic weapon if the security of the regime is guaranteed.To Wang's consideration, this milestone in inter-Korean relations responds in part to the implementation of the Chinese proposal of double suspension, so that the North does not carry out weapons tests.

To the sound of the commercial war drums coming from the United States, after the decision of the Donald Trump administration to attribute a global tariff to imports of steel and aluminum, the Chinese Foreign Minister, Wang Yi, announced that China does not want a trade war, but it will take on the issue in case there are tariff increases that affect its interests.

Although the movement is not aimed exclusively at China, no one is oblivious to the reality that Beijing can be one of the first targets of Trump's protectionist darts in the future. The Chinese diplomat said that his country will carry out an appropriate and necessary response to possible trade sanctions, without giving details about what kind of reprisals are on the table.

According to Wang, speaking in a wheel of prey, he assured that those who resort to the commercial war are going to be choosing the wrong remedy, they are not going to do anything else than to penalize the others, also damaging themselves.It is expected that in the coming weeks the Trump administration will release a report on the theft of intellectual property that will expose China as one of the offenders, which could lead to other trade measures against Beijing.So far in 2018, in addition to the aforementioned taxes on steel and aluminum, Trump has announced increases in tariffs on washing machines and solar panels that especially affect Chinese exporters.

Wang has asked the United States for "a constructive dialogue" on the matter. For his part, the US president said through Twitter that he has asked China for a plan to reduce the trade deficit by 1,000 million dollars this year, crumbs taking into account that the trade gap between the two countries exceeds 375,000 million.According to the chief economist for Asia of the French investment bank Natixis, Alicia García Herrero, Trump's measures point to the wrong goal since the purchases of steel and aluminum account for only 3.5% of the trade deficit with China.

This is seen by some as the beginning of a broader campaign, but raising tariffs on heavier commodities such as electronic products or manufactures will only increase the cost of production and reduce the capacity of the United States.