United States defends latest tariffs on China products

U.S. President Donald Trump speaks to members of the media before boarding Marine One while departing the White House in Washington D.C. U.S. on Friday

Commerce Secretary Wilbur Ross is due in Beijing on Saturday after the White House renewed its threat of 25 percent tariffs on $50 billion of Chinese goods.

The latest signal from the White House sounds like the more hawkish wing of Trump's trade team is trying to amplify its hard line, after Treasury Secretary Steven Mnuchin said this month that any talk of a trade war was suspended for now.

A truce between China and the U.S. said to put a trade war on hold has dissolved in less than two weeks.

Trump also said a deal to ease sanctions on the Chinese tech giant ZTE would be forthcoming. But according to the White House, the date of 15 June is announced which would finalize the question regarding tariffs.

On Wednesday, China's commerce ministry said the USA delegation had arrived in Beijing and the teams from both countries would discuss on coming up with a consensus over the next few days.

William Zarit, chairman of the American Chamber of Commerce in China, said the US threat of tariffs appeared to have been "somewhat effective". Financial markets, wary of a calamitous trade war, were relieved.

Other advisers have pushed for tougher action, demanding that China make substantial reforms to its economy to end the subsidies it provides to developing industries and to allow American companies equal access in the Chinese market. China said the claims were unproven and sometimes speculative. But they fear the president's focus on tariffs will hurt them as much as China, by disrupting supply chains, depressing demand for their products and sparking retaliation by Beijing.

The Chinese government on Wednesday lashed out at Washington's unexpected statement on pressing ahead with tariffs and restrictions on investments by Chinese companies, saying it was ready to fight back if Washington was looking to ignite a trade war.

Chinese government documents revealing the trademarks were first publicised by Citizens for Responsibility and Ethics in Washington (CREW).

The White House said the policies included forced technology transfer; requiring licensing at less than economic value; state-directed acquisition of sensitive U.S. technology for strategic purposes; and outright cybertheft.

The tariff threat is a "very powerful" negotiating tactic, said Lester Ross, chairman of the American chamber's policy committee. Beyond the trade deficit that Donald Trump is so aggressively obsessed with, there are significant forces in the us government that see Chinese industrial policy as predatory and unfair.

The White House announcement may be only the latest dizzying turn in Trump's carrot-and-stick approach to trade negotiations. "It is obviously against the consensus reached by the United States and China in Washington recently".

Now, tariffs on the first $50 billion are back on track - though the president could change course again.

Trump is seeking to curb investment in sensitive technology, ratcheting up pressure on Beijing.

According to a press release issued by the White House, the United States will announce investment restrictions and enhanced export controls on China by June 30.

Noting that China is engaging in a systematic and multifaceted strategy to steal intellectual property, Gaetz alleged that beyond the economic costs, this theft presented significant concerns for national security.

Related News:



Most liked

Top North Korean official expected to deliver letter to Trump in Washington
Senate Majority Leader Mitch McConnell (R-Ky.) in Louisville warned Trump to be dispassionate about North Korea. Kim Yong Chul, who till now was under United States sanctions, is likely to stay in the country till tomorrow.

Missouri Gov. Eric Greitens Resigns Amid Sex Scandal
Greitens was under investigation in the Republican-controlled Missouri Legislature, and he faced a serious threat of impeachment. One of the open stipulations states that Greitens has agreed to release Gardner and everyone in her office from civil liability.

China rejects 'ridiculous' US accusation of South China Sea militarisation
He added that the area was regarded as global waters and many countries wanted to exercise their freedom of navigation. Harry Harris during the change of command on Wednesday.

Malaysia Says It Will Axe High-Speed Railway to Singapore
The 350-km HSR project with the Singapore portion covering 15 km - was scheduled to be completed by 2026. Mahathir has reopened an investigation into 1MDB that was suppressed during Najib's rule.

Trump wants to bar German luxury cars in US
The Trump administration has opened a trade investigation into whether vehicle imports have damaged the US auto industry. The European Union imposes a 10 percent tariff on cars imported from the U.S.

Moscow invites N.Korea's Kim to visit
Working-level parties from both North Korea and the United States are in the island state, looking into venues and logistics. Trump's letter, the aides said, was created to pressure the North on the worldwide stage for appearing to have cold feet.

Trump hits Europe, Mexico and Canada with metals tariffs
Europe did not want a trade war, he said, but Washington had to back down from "unjustified, unjustifiable and unsafe tariffs". In a clear reference to Trump, Macron added: "These solutions might bring symbolic satisfaction in the short term".

One paisa petrol price cut: Is there no solution?
Diesel prices were at Rs 69.25 a litre, Rs 71.8 a litre, Rs 73.73 a litre and Rs 73.12 a litre respectively. It is doing nothing but mocking the unprecedented miseries and hardships of the common people.

Teslas ‘crash with Autopilot engaged’ in California and Greece
The carmaker says the function is not created to avoid a collision and warns drivers not to rely on it entirely. A Tesla that the driver said was in Autopilot mode struck a parked police vehicle in Laguna Beach, Calif.

Activity continues with regularly changing erupting vents and flows
Geological Survey sent to Hawaii to respond to the eruption , are now working out of UH-Hilo. The lava has reportedly destroyed at least 82 structures and displaced thousands of people.

New mum Serena back in the Grand Slam groove in Paris
Pliskova had an early break in the second game of the second set to take a 2-0 lead but Williams broke straight back. She was spotty at times, especially on her serve (she hit seven double faults). "I'm a super hands-on mom".

Person Missing as Extreme Flooding Rocks Ellicott City, Maryland
At the height of the storm, the water had risen above the first floor of some buildings, Howard County emergency officials said. At least one person has been reported missing so far. "We're certainly making every effort to locate that individual", he said.

White House calls off trade truce as talks continue
President Donald Trump and Chinese President Xi Jinping shake hands during a meeting in November. China has made similar promises to act better on trade with the U.S.in the past.

Kevin Durant's performance in the Western Conference Finals was record
That Cavs' team had Kyrie Irving as their No.2 scorer, and they were facing a Warriors' team that had yet to sign Kevin Durant . Still, Curry is widely seen as the impetus for the Warriors and, well, James is the best player in the league for a reason.

Record Audiences Get Set to Make the 2017 Grand National the Biggest To Date
For some , it will be a case of asking which horses have been at their most impressive this season that will give them the clues as to which Grand National horses to bet on .