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China rebuffs Trump claim U.S. tariffs are making firms leave

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China rebuffs Trump claim U.S. tariffs are making firms leave

China rebuffs Trump claim U.S. tariffs are making firms leave

Foreign investors remain enthusiastic about China, the foreign ministry says, in a retort to Donald Trump’s claim that his tariffs are causing companies to move production away from the world’s second largest economy.

Francis Maguire reports.

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China rebuffs Trump claim U.S. tariffs are making firms leave

Foreign investors still want to put their money into China, says the country's Foreign Ministry.

A sharp retort to Donald Trump, Who said Sunday that firms had moved manufacturing out of China to other Asian countries due to his tariffs.

(SOUNDBITE) (Mandarin) CHINESE FOREIGN MINISTRY SPOKESMAN, LU KANG, SAYING: "Even though over the past year or more the United States has continued to menace Chinese products with additional tariffs, everyone can see that the enthusiasm for foreign investors in China remains high.

Foreign investors are still bullish on China." The Sino-U.S. trade war accelerated when talks fell apart on a deal on May 10th.

Since then Trump has raised the tariff rate on Chinese products.

The U.S. government also banned Huawei from buying U.S. goods last week.

Accusing the Chinese tech giant of threatening national security.

That ban has now been delayed until August 19th.

But analysts warn it will hurt Huawei if U.S. firms like Google suspend business with them.

(SOUNDBITE) (English) CEO OF GEO SECURITIES, FRANCIS LUN, SAYING: "Without the Android system, investors or retail customers will hesitate to buy Huawei.

I think Huawei will have to lean on, heavily, its domestic market.

And maybe markets in the third world, in the India, South America, and Africa.

So I don't think Donald Trump can kill off Huawei, because the state is behind it.

But it will hurt Huawei very much.

Very seriously." China claims firms like Tesla and BMW have upped investment recently, But with no end to the trade war currently in sight - firms will have to keep working with the uncertainty.



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