Beijing blasts Argentine trade restrictions

FE Team | Published: August 26, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

BEIJING, Aug 25 (AFP): China has expressed serious concern at a recent move by Argentina to impose restrictions on Chinese goods, state media said today.
"It is neither reasonable nor acceptable for the Argentine side to make such moves without notifying China in advance," a spokesman at the commerce ministry said, according to the China Daily.
Argentina revealed a new system of tariffs earlier this month to restrict the imports of consumer goods, particularly from China, to protect local industry.
The measures will be applied to other nations, and in particular target goods such as leather items, bicycles, computer equipment and shoes.
"Imports that come from China will come under a greater level of control", Argentine Economy Minister Miguel Peirano said when introducing the rules, adding it would give local producers better conditions.
Goods from China will have to validated by Chinese customs officials and have an importation certificate from the Argentine consulate in Beijing.
The measure comes at a time when China's exporting machine is already under growing pressure due to a series of safety scandals surrounding Chinese goods sold to the United States and elsewhere.
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Inflation up at 4.10pc, India not averse to take fiscal steps
NEW DELHI, Aug 25 (PTI): The Indian government yesterday said it will not hesitate to take further fiscal steps to check inflation, which has risen to 4.10 per cent, but pointed out that augmenting farm production is the only way out for checking rising prices of vegetables and other food articles.
Expressing concern over rising prices, he assured the house that the government would take further fiscal measures, if required, to bring down the inflation.
Expensive fruits and vegetables pushed up inflation for the week ended August 11 to 4.10 per cent from 4.05 per cent in the previous week, as per government data released Friday.
Replying to a debate on the Appropriation Bill, 2007 in the upper house, Chidambaram said while the rate of core inflation has been brought down to 4.5 per cent, the government has no control over prices of crude oil that touched USD 72 per barrel in the international market.
During the week, prices of vegetables moved up by 5.1 per cent and fruits were costlier by 2.9 per cent. Analysts said prices of vegetables and fruits often go up around this time of the year since it is not a harvesting season and supply is disrupted because of rains.
Minister of State for Finance PK Bansal had earlier this week said in parliament that prices of vegetables rose at the fastest pace year-on-year till August 4. Vegetable prices rose by 27.1 per cent, followed by wheat 10.14 per cent, milk 8.63 per cent, rice 6.74 per cent, pulses 3.33 per cent and wheat flour 2.91 per cent.