Published: Fri, June 01, 2018
Worldwide | By Stella Potter

White House says still pursuing China trade sanctions

White House says still pursuing China trade sanctions

Washington postponed its tariff threat in mid-May after Beijing promised to significantly increase its purchases of US farm goods and energy products, such as natural gas.

"We're putting the trade war on hold", Mnuchin said at the close of those meetings on May 20.

The moves up the ante for talks scheduled for this weekend, when Commerce Secretary Wilbur Ross will return to Beijing in an attempt to get trade talks back on track.

China has said it will respond in kind to threats by Trump to impose tariffs on up to $US150 billion of Chinese goods.

"Rrelations, every time a country does an about face and contradicts itself, it's another blow to, and a squandering of, its reputation", Hua said.

She said that in global relations, going back on one's word is a loss and squandering of the credibility of one's country. "We will definitely take forceful measures to defend our legitimate interests". Financial markets, wary of a calamitous trade war, were relieved.

The tariffs being mooted are part of a Section 301 investigation by the Office of the United States Trade Representative (USTR) into unfair Chinese technology and intellectual property policies and practices.

"The proposed investment restrictions and enhanced export controls will be announced by June 30, 2018, and they will be implemented shortly thereafter, it added".

Trump's surprise announcement reflects his frustration at criticism of his earlier deal with Beijing, Eurasia analysts said in a report.

"On hold now", another person familiar with Qualcomm's talks with the Chinese government said on Wednesday, declining to be identified as the negotiations are confidential.

Mr Trump had already fuelled uncertainty over trade talks with China, after saying last week that any deal between Washington and Beijing would need "a different structure".

The overall effect on furniture remains unclear, although opponents and proponents of the tariffs have mentioned furniture in their public comments on the issue.

The White House, and many American companies, say that China forces US firms to turn over technology as part of joint ventures with Chinese companies to gain access to its market.

The change would come as President Donald Trump's administration attempts to crack down on what it says is theft of US intellectual property by China. "Without a coherent strategy, it's hard to see the renewed commitment to threatening tariffs and investment restrictions as anything but more bluster and chaos", Neal said. But he said American companies want equal treatment, "and this seems to be one of the ways to do that".

During the media briefing, the Foreign Ministry spokesperson also expressed concern over reports that the United States is planning to restrict visas of Chinese students studying advanced subjects like robotics, aviation and high-tech manufacturing to one year.

Foreign companies are frustrated by a system that requires them to wait for Chinese regulators to declare individual lines of business open to them.

After that meeting, the two sides announced that Beijing would buy significantly more US agricultural and energy products in a bid to reduce the bilateral trade deficit, and they said they established a framework for addressing technology trade irritants.

"When it comes to worldwide relations, each and every flip-flop will only lead to further depletion and squandering of a country's credibility and reputation". However, he said tariffs are a tax on American consumers and a blunt tool to address "very complex problems that hamper trade and investment relationships".

ZTE agreed to remove its management team, hire American compliance officers and pay a fine. And on May 26, the president celebrated on Twitter that a deal had been struck, and ZTE would be allowed to import parts from the U.S. provided it paid a $1.3bn fine for past screw ups. China had complained strongly that the ban would put ZTE out of business, costing 70,000 jobs. For instance, a practice where the foreign firm can access to the Chinese market by establishing ownership with local partners.

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