Published: Sat, June 02, 2018
Global Media | By Jackie Banks

White House trade adviser says China trade dispute was never 'on hold'

White House trade adviser says China trade dispute was never 'on hold'

China on Wednesday lambasted "sudden flip-flops" in United States policy after President Donald Trump said he was moving to finalise trade sanctions against it - even as a U.S. delegation arrived in Beijing for talks.

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 came more than a week after Treasury Secretary Steven Mnuchin said that the trade war was being put "on hold".

The new tariff is part of one of three major steps that the U.S. is taking based on the 22 March memorandum signed by President Donald Trump. The full list of imports that will be covered will be announced by June 15.

U.S. Commerce Secretary Wilbur Ross is scheduled to visit China on Saturday to negotiate the details of that agreement.

The Commerce Ministry's statement gave no details of possible new initiatives but promised to "conscientiously implement" the joint statement by China and the USA issued May 19 in which Beijing agreed to "substantially reduce" America's trade deficit with China.

"The United States will implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology, the White House said in a statement".

Kanye West releases highly-anticipated album ye
She wants to make it clear that " Kanye West did not purchase the picture from me or my son [Shayne Brown]". Kid Cudi , Ty Dolla $ign, and Nicki Minaj appear on the seven-track release.

Brigitte Nielsen pregnant with fifth child at age 54
Last week she was photographed hiding her baby bump under a white top as she enjoyed lunch with Dessi in Los Angeles. Brigitte Nielsen is celebrating baby number five with husband number five! She wrote the family is getting larger.

Embattled Missouri governor resigns amid felony investigations
Our review of this case, as I have stated before, will be pursued without fear or favor. Jackson County Prosecutor Jean Peters Baker is leading that probe.

Trump has bemoaned the massive USA trade deficit with China - $337 billion a year ago - as evidence that Beijing has been complicit in abusive trading practices.

Shanghai, Ivanka Trump was granted five business trademarks in China earlier in May, just days before her father suddenly scrapped a U.S. technology ban imposed on Chinese telecom firm ZTE, according to government documents.

Hua gave no indication of whether Beijing planned to act on its own threat to retaliate by raising duties on a $50 billion list of American goods including beef and soybeans.

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

"Mnuchin's "trade war on hold" comments look to have been repudiated this morning, and possibly his investment stance, too", said Derek Scissors, a China analyst at the American Enterprise Institute in Washington. And while they do not include apparel and footwear, the industry is concerned about their possible inclusion on any lists extended to additional products imported from China.

The new tariffs will cover goods related to the "Made in China 2025" program the administration claims "harm companies in the United States and around the world". She echoed an earlier statement by the Chinese Commerce Ministry that the White House announcement went against the recent "consensus" reached by the two sides. China has said it will respond in kind to threats by Trump. According to China this decision announced by the USA contradicts the decisions made between two in a meeting held in Washington.

Economists estimate that USA exports could rise by up to $90 billion over a period of years.

Like this: