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GENEVA (Reuters) - A “reckoning” over China’s unfair trade policies is urgent and is too big for the World Trade Organization to handle, U.S. ambassador Dennis Shea told a WTO meeting on Wednesday. Washington has raised the stakes in its trade dispute with Beijing, threatening 10 percent tariffs on $200 billion of Chinese goods. In response, Beijing accused the United States on Wednesday of bullying and said it would complain to the WTO. However, Shea said the Geneva-based WTO was not the place to settle the row.

“Given China’s very large and growing role in international trade, and the serious harm that China’s state-led, mercantilist approach to trade and investment causes to China’s trading partners, this reckoning can no longer be put off,” he said, “It is clear, moreover, that the WTO currently does not offer all of the tools necessary to remedy this situation,” Shea told the two-yearly WTO review of China’s trade policies, Under President Donald Trump, the United States has demanded that the WTO’s dispute system is changed to stop the United new jersey long beach island sand cufflinks States getting what he regards as an “unfair deal”..

To back up his demands, Trump has blocked appointments to the WTO’s appeals chamber to replace judges as their terms expire. Unless he relents, the world’s trade dispute system will be unable to operate by the end of 2019 or sooner. Trump has also made a veiled threat to leave the WTO. Vice Commerce Minister Wang Shouwen defended China’s record at the meeting, and acknowledged the severe challenges facing the WTO, according to a Geneva trade official. Speaking before Shea, he called on all WTO members to stand up to bullying, protectionism and unilateralism, and called on them to tackle the systemic threats posed by Trump’s tariffs on steel, aluminum and cars, as well as his tariffs directed solely at China.

Shea said the Chinese state’s role new jersey long beach island sand cufflinks in the economy had increased, Foreign firms doing business in China or competing with Chinese rivals faced deeper and broader obstacles, he said, adding that Beijing was providing “massive, market-distorting subsidies” and “skewing the playing field., in myriad ways”, The WTO’s dispute system focused narrowly on specific policies, and could not deal with a broader situation where state-led policies prevailed over market forces, New WTO rules were unlikely to be negotiated to deal with the situation, and would in any case take too long..

HONG KONG (Reuters) - Hong Kong shares of ZTE Corp (0763.HK) surged nearly 24 percent on Thursday after China’s No. 2 telecommunications equipment maker cleared the last hurdle to lifting a U.S. ban on component supplies. ZTE’s shares in Shenzhen (000063.SZ) also rose the daily limit of 10 percent. The United States said on Wednesday that it signed an agreement with ZTE that paves way for the Chinese tech company to resume operations after a nearly three-month ban on doing business with American suppliers.

NEW YORK (Reuters) - The U.S, dollar strengthened against the Japanese yen on Wednesday as trade tensions mounted and after the Labor Department’s expectation-beating inflation report, which increased prospects that the Federal Reserve will raise interest rates another two times this year, The dollar broke through the psychologically significant barrier of 112 yen JPY= for the first new jersey long beach island sand cufflinks time since Jan, 10, rising as much as 1.3 percent to 112.17 yen, The day's strong flows into the dollar/yen trade continued a trend that began after the United States last week reported decent employment data and a pick-up in wages..

Both the yen and the dollar are favored as safe-haven investments, but the strength of the greenback suggests investor faith in the U.S. economy rather than a bid for safety. Pushing the greenback past 112 yen “would suggest the market is bullish on the dollar irrespective of the trade war,” said Boris Schlossberg, managing director of FX strategy at BK Asset Management. Not all analysts viewed trade tensions as a hindrance to the dollar. A Bank of America survey last week reported that investor thinking had shifted since the spring, and the market saw potential dollar-positive implications from a trade war, as the United States would be better equipped to weather a slowdown in trade than other major economies.

China on Wednesday accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in the trade dispute between the world’s two largest economies, threatening 10 percent tariffs on $200 billion of Chinese goods, The dollar index .DXY, which measures the greenback against a basket of six rivals, was up 0.7 percent to a high of 94.77, The biggest losers were the offshore Chinese yuan CNH=, which skidded new jersey long beach island sand cufflinks toward an 11-month low, and the Australian dollar AUD=, which fell as much as 1.3 percent..

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