'We're at an impasse' with China, says Canadian Finance Minister Morneau

"I can't say that I necessarily have a sense of optimism, because we're at an impasse. It's a difficult moment," he added.

China's cancellation of canola shipments from Canada also doesn't make sense, according to Morneau, adding that he's concerned Beijing could extend the same treatment to other products from his country. "I don't want to speculate on what might be next but we don't think that ... the stoppage of canola trade is really one that's done on grounds that make sense," he said.

"And of course we're concerned with the spectra of other products being either delayed at the border or in some way taken out of the trading relationship," the minister added. "This is a real concern."

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China wants to pressure the US economy, but the finance sector is probably safe from BeijingTechnology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts say that America's financial sector is unlikely to be a target. That's actually one sector the Chinese Don't need to work on. Thanks for writing it for us. How would it impact the educational sector of the U.S.? You mean the international students from China would drop significantly?
Source: CNBC - 🏆 12. / 72 Read more »