China cuts import duties on some consumer goods

Adjust Comment Print

Trump ordered the tariffs in March in response to what he called "tremendous intellectual property theft" by China, identified in a Section 301 trade investigation launched last summer.

The China Daily newspaper said the repeated U.S. claim that China had forced foreign firms to transfer their technologies to Chinese businesses was without evidence and was being used as an excuse to facilitate its trade protectionism.

"The statement yesterday "historic" in nature is twofold one the President is going to levy a 25 percent tariff on $50 billion worth of Chinese exports to us".

US Treasury Secretary Steven Mnuchin said earlier that the United States and China had both put a hold on tariffs and agreed to a framework for a trade deal.

China has no reason to address issues brought up by the United States if the government's priorities appear to be constantly in flux, said Eric Altbach, senior vice president at Albright Stonebridge Group and former deputy assistant USA trade representative for China under President Barack Obama.

The trademark approvals were dated May 7, a week before President Donald Trump extended an olive branch on ZTE in his trade tussle with China.

Trump with Chinese President Xi Jinping a year ago.

When Trump announced the initial plan to impose tariffs, he also instructed the Treasury Department to draw up new curbs on investments in the United States by Chinese companies.

Mr Ross is set to arrive in Beijing on Saturday where he is expected to try to get China to agree to firm numbers to buy more USA goods, but the latest aggressive move from Washington could cast doubt over whether negotiations can progress to the next level.

Specifics of the new investment limits will be announced by June 30 and will take effect "shortly thereafter", the White House said.

NBA Finals schedule: Warriors vs Cavs dates and times for every game
LeBron James has rescued the Cavaliers from a 3-1 deficit in the NBA Finals and just pulled them out of a 2-0 hole against Boston. They also turn their attention to offseason plans, potential moves and tough looming decision for the front office down the line.

Russian Federation cautions US, North Korea against deliberately pushing unrealistic demands
With respect to US-North Korea summit Mike Pompeo has said there is still a lot of work left to do. North Korea's conciliatory response to that letter appears to have put the summit back on track.

Rudy Giuliani says he's counseled Trump against firing Sessions
Sessions reports directly to Trump, who has the authority to make such demands, even if they are bad ideas. Justice Department officials had concluded the policy must be withdrawn and revised, a move that Mr.

China is cutting import duties on washing machines, cosmetics and some other consumer products amid US pressure to narrow its multibillion-dollar trade surplus.

China welcomes imports of "high-quality and competitive" American products, the Commerce Ministry said in a statement, following promises to buy more American farm goods and energy.

The White House announcement may be only the latest dizzying turn in Trump's carrot-and-stick approach to trade negotiations.

Chinese tabloid the Global Times said the United States was suffering from a "delusion" and warned that the "trade renege could leave Washington dancing with itself".

In a statement on its website, posted under the heading "China-US Trade Conflict", the Ministry said: "As the two largest economies in the world, cooperation is the only correct choice for China and the US". Some, like Mr. Mnuchin, have focused on a potential compromise deal that would require China to buy huge amounts of American products while still forestalling the possibility of a trade war.

"We will counteract whatever comes our way, and if the United States insists on acting recklessly, China will inevitably adopt firm and forceful measures".

The changes come as Trump seeks to crack down on China's trade practices, especially those related to cutting-edge industries that Beijing wants to dominate.

Navarro also noted that support for a hard line with China on trade had bipartisan support.

Among other actions, the White House said it will also "continue WTO dispute settlement against China originally initiated in March to address China's discriminatory technology licensing requirements".

"The lack of clarity surrounding the administration's plans is creating significant uncertainty for American businesses, disrupting supply chains and threatening to undermine the economic gains we've seen over the past year".