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China vows to fight the Trump administration on its tariff hike

30 May, 2018, 17:15 | Author: Kristen Ingram
  • 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

The Chinese government is urging President Donald Trump to return to the negotiating table after the White House announced that the USA would move forward with a crackdown on trade with China.

Members of both parties in the House and Senate slammed the agreement the Trump administration reached with ZTE Friday, in which the Chinese firm agreed to remove its management team, hire American compliance officers, and pay a fine. Officials in the Trump administration have sought to distance ZTE from the trade talks, but the president previously linked the two issues.

The US will impose a hefty 25 per cent tariff on the United States dollars 50 billion worth of Chinese goods containing "industrially significant" technology, the White House said today, days after the two sides reached an agreement and vowed not to launch a trade war against each other.

In the announcement, the USA government listed a range of grievances against Chinese trade practices, ranging from product dumping to industrial subsidies to forced technology transfer.

The U.S. State Department will implement measures from June 11 to "enhance security for some Chinese visa applicants", the official said. The White House repeated it will slap a hefty 25 per cent tariff on as much as $50bn worth of imports.

Trump is also still working out what to do about ZTE, the Chinese phone and telecom equipment maker that was crippled by a USA export ban issued last month, in punishment for what the USA said were violations of its sanctions against North Korea and Iran.

The China tariffs are back on. The reduction to $50 billion is a sign of Trump's standard approach to negotiations: ask for way more than you can get and settle for a better deal than most would deem possible.

China hit back at U.S.

"In worldwide relations, an about-face or constant change of positions is bound to damage or squander a country's credibility", Hua said.

"They come at a time when her father and his administration, in which she and her husband work, are making enormously consequential decisions with and about China", said Norm Eisen, the former ethics chief for President Barack Obama and a CNN contributor. The final tariff list will be made public by June 15 with the new import taxes taking effect shortly thereafter.

Trump's Treasury Secretary Stephen Mnuchin had said the trade war was "on hold".

U.S. Chamber of Commerce President Thomas Donohue said using tariffs against China "puts all the burden on American companies and consumers".

"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".

A USA business group says American companies in China are uneasy about Washington's threat of export and investment controls in a trade dispute with Beijing but see them as a possible way to achieve fairer operating conditions. On Monday, representatives of the two countries met at the WTO, where, Reuters reports, the us said Chinese laws allow Chinese countries to demand technology-sharing from foreign firms that want to do business.

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