Sunday, 23 September, 2018

China urges US to make 'wise choice' on trade tariffs

China reaffirmed commitment to N Korea sanctions — Pompeo Chinese, US senior officials agree to promote ties - Xinhua | English.news.cn
Russell Knight | 15 June, 2018, 14:53

Washington has also completed a second list of possible tariffs on another $100 billion in Chinese goods, in the expectation that China will respond to the initial US tariff list in kind, sources told Reuters. "If there are not tariffs, it will be because the president has decided that he's not ready to implement tariffs", said a person familiar with the matter. The U.S. trade deficit with China was $336 billion in 2017.

A bipartisan group of senators is also trying to convince President Donald Trump's administration to suspend the tariffs.

"The president's trade team has recommended tariffs".

In a joint news conference Thursday evening in Beijing, Chinese Foreign Minister Wang Yi said China and the United States have two options before them: one is "cooperation" and a "win-win" scenario and the other is "lose-lose".

In the trade fight, Bannon said, Trump has converted three major tools that "the American elites considered off the table" - namely, the use of tariffs, the technology investigation of China and penalties on Chinese telecom giant ZTE.

However, Allen noted that given recent comments from Navarro that tariffs will be more limited, Mr. Trump's own musings that he "has to do it" and "because we have seen no concessions from the Chinese, we expect it is more likely than not that the White House will move forward with implementation relatively quickly".

A spokesman for China's Foreign Ministry reiterated at a briefing in Beijing yesterday that previous progress in trade talks will be lost if the U.S. introduces new tariffs.

In an interview aired on Wednesday, Trump told Fox News he was "very strongly clamping down on trade" with China.

But that recommendation came prior to Trump's trip late last week to Canada for the G7 leaders' summit and to Singapore for talks with North Korean leader Kim Jong Un to defuse a nuclear standoff on the Korean peninsula. "It is also about values, governance and geopolitical disagreements", she said.

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The forward, 27, said he wanted to clarify his future before France's World Cup opener against Australia on Saturday. His "decision" behind him, Griezmann can now focus on the World Cup with France.

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Ministry of Commerce spokesman Gao Feng revealed that while there had been no bilateral talks between the two sides on trade disputes, the USA did follow WTO procedures to open a dialogue following China's petition that United States trade practices violated WTO rules.

Beijing and Washington have held three rounds of high-level talks since early May that have yet to yield a compromise, with Trump unmoved by a Chinese offer to buy an additional $70 billion worth of US farm and energy products and other goods, people familiar with the matter have said. But he signalled that whatever the implications, "I have to do what I have to do" to address the trade imbalance.

Administration officials have signaled support for imposing the tariffs in a dispute over allegations that Beijing steals or pressures foreign companies to hand over technology, according to officials briefed on the plans.

China said it would retaliate against the tariffs.

"If you end up with a tariff battle, you will end up with price inflation, and you could end up with consumer debt".

ZTE last week agreed to pay a $1 billion fine to the USA government to end a crippling supplier ban imposed after it broke an agreement to discipline executives who conspired to evade US sanctions on Iran and North Korea.

Both countries have been trying to negotiate a truce to the trade spat.

The US wants China to stop practices that allegedly encourage transfer of intellectual property - design and product ideas - to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market.

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