The IMF research, citing official data, found that the

 revenue collected by the US government through hefty tariffs on Chinese imports, has been paid almost entirely by US importers.

“Some of these tariffs have been passed on to US consumers, such as those on washing machines, wh

ile others have been absorbed by importing firms through lower profit margins,” the research said.

Any further increase in tariffs will likely be passed through to consumers, it said.

China and the US, the world’s two largest economies, have been embroi

led in a tit-for-tat trade confrontation over the past few months. Washington threatened to fur

ther escalate a tariff war and increased tensions by tightening restrictions on Chinese companies.

Earlier this month, the US raised tariffs on $200 billion of Chinese imports from 10 percent to 25 percent, and China took coun

termeasures. Then the US administration listed about $300 billion more of Chinese goods for possible tariff hikes.

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The spike in trade tensions has already rattled financial

markets. The yuan has weakened by 2 percent to its lowest level since January.

“We expect stock markets and the yuan to remain under pressure in the near term, though they c

ould be supported by an expected stabilization in the domestic economy later this year,” Wu said.

Sheng Songcheng, the former director of the Survey and Statistics Department in the Peo

ple’s Bank of China, said the truth is that imposing more tariffs on Chinese goods has not yet reduced US trade deficits.

The long-lasting US trade deficits in goods was formed from the US

dollar’s international status, its domestic low deposit rate and the US position in the glo

bal value chain, and those factors cannot be changed by protectionist measures, Sheng said.

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Trump arrives in Japan for state visitUS President Donald Trump

 arrived in Japan for a state visit that will make him the first world leader to meet the country’s new emperor.

Trump and first lady Melania Trump arrived Saturday aboard Air Force One after a 14-hour journey. The president was h

eading to a dinner with business leaders at the US Ambassador’s residence in Tokyo after a brief airport welcome.

The visit is part of a continuing charm offensive by Japanese Prime Minister Shinzo

Abe that analysts say has spared Japan from far more debilitating retaliatory action by Trump.

The president has refused to lift the threat of slapping potentially devastating US

tariffs on imports of Japanese autos and auto parts on national security grounds.

US tariffs against Japanese aluminum and steel remain.

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By late April, China had been hit by 129 African swin

fever outbreaks, affecting all 31 provinces, municipalities and autonomous regions on the mainland, since the country’s first reported outb

reak in Shenyang, Liaoning province, in August, according to the Ministry of Agriculture and Rural Affairs.

This resulted in more than 1 million pigs being slaughtered to prevent and control the disease, which is deadly to pigs but does no

t affect people. The ministry has called for intensified research and development to expedite the availability of v

accines for disease prevention and control, but admitted difficulties due to the complex nature of the virus.

China is the world’s largest producer and consumer of pork, with an a

nnual production of 700 million pigs. Pork accounts for 62 percent of meat con

sumption in China, and sustained outbreaks of African swine fever will cause devastating consequences to the pi

g industry and endanger China’s food security, the Chinese Academy of Agricultural Sciences said.

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Experts say more work needed on AIo in Suzhou, Jia

hina has published the most research papers on artificial intelligence around the world, while AI research from the Unite

d States remains the most influential, said a report on AI development released in Shanghai on Friday.

More than 300,000 papers on AI have been published globally from 2013 to 2018, among which around 74,000 were publishe

d by Chinese researchers and 52,000 by their US counterparts, and the US dominated in fields such as citation impact,

number of patents, and the scale of companies and funds, the report said, adding that China lacks basic theoretical research.

The report was compiled by the Research Center for AI Development, which was established last year by the Ministry of Science and Technology.

“China and the United States are the two main pillars of the world’s AI r

esearch network, and the most cooperation on AI research happened between the two

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Stage collapse kills child in Fujian provincetists may have f

An accident Saturday night where a theater stage collapsed has killed one child and injure

d 14 people, said the local emergency management office in Zhangzhou, Fujian province on Sunday.

The Jinshuixian theater in Zhangzhou Development Zone hosted a children’s dance audition the night of May 25.

During the audition, part of the theater’s center stage collapsed, killin

g a 13-year-old participant. Injured participants are receiving treatment in hospitals.

Companies and organizers involved in the accident are in police custody.

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Academy of International Trade and Economic Coopera

The US no longer accounts for such a significant market share as

it did in the old days,” Mei said. “And the major market share is taken by the domestic mar

ket, Europe, Japan and other emerging overseas markets. The US move will gradually later affect its own market.”

Mei said the US ban on Chinese tech titan Huawei and rumored imposition of restrict

ions on Chinese surveillance giant Hikvision will not hamper the growth of China’s tech sector.

The US accounts for only a small part of Hikvision’s overseas ma

rkets, and Hikvision is not heavily reliant on US components for production, Mei said.

“Huawei’s chip arm HiSilicon has produced 70 percent of global surveillance chips. In past years, Ja

panese companies were Hikvision’s main chip suppliers, and now the major supplier is HiSilicon.” Mei added.

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Share planning with BrazilJinping meets with Brazilian Vice

Newly elected South American leaders see China as stable partner

China would like to have a shared planning process with Brazil to achieve coordinated development, President Xi Jinping

said on Friday during a meeting with Brazilian Vice-President Hamilton Mourao at the Great Hall of the People in Beijing.

Calling the two countries highly complem

entary, Xi said China welcomes Brazil’s participation in the building of the Belt and Road.

He said China supports the prosperity and develop

ment of Brazil and believes that China-Brazil cooperation will produce great outcomes.

Xi asked Mourao to extend his sincere greetings to Brazil’s President Jair Bolsonaro, who took office in January. Chi

na appreciates the efforts made by the new government to promote the comprehensive strategic partnership, he said.

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Pompeo said in an interview with CNBC that, “We’ve been

working at the State Department to make sure that everyone understands the risks.”

“Recently, some US politicians have repeatedly made rumors about Huawei but canno

t provide any evidence that other countries have requested,” Lu told a daily news conference.

He noted that the US public is having more and more doubts over the market turbulen

ce and undermined industrial cooperation caused by the trade war and technology war initiated by the US.

“So some US politicians have continually created rumors, tr

ying to mislead the public and stir up ideological opposition, which is illogical,” Lu said.

Ideological differences do not necessarily impede tra

de, industrial and technological cooperation between countries, he said.

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ic importance to Huawei. “TSMC produces most of H

uawei’s chips. Only with its cooperation is it possible for Huawei to have a Plan B in stocking

in-house processors in order to offset fallout from the US ban on its access to US chips,” Xiang said.

He said the move by Panasonic also showcases that the Japanes

e tech company is not willing to surrender to political pressure from Washington, after ear

lier reports that it had stopped shipments of certain components to Huawei. The firm bought $6.3 billion wort

h of products including batteries and electronic components from Panasonic in 2018, according to Nikkei Asian Review.

United Kingdom-based mobile operator EE said on We

dnesday that its 5G network in the UK would rely on equipment made by Huawei.

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