China reserves right to retaliate for United States investment curbs

Leah Millis  Reuters

If the United States implements trade sanctions including tariffs then all outcomes of the China-US trade talks will be void, state news agency Xinhua reports following high-level trade discussions in Beijing. However the classes the Chinese language Finance Ministry chosen for tariff cuts cowl few American items, and gave the impression to be focused at China's aim of creating subtle industries slightly than low-value mass manufacturing.

In turn, the renewed threats have some arguing that the ability of Beijing and Washington to continue to negotiate and American credibility is at stake.

G7 countries generally share the USA frustration with Chinese trade and economic practices, but their anger was directed at Mnuchin over new US tariffs of 25 percent on steel and 10 percent on aluminum.

What had appeared to have been a trade truce between Beijing and Washington was upended this week when the White House said it would follow through on its threat of tariffs on $50 billion worth of Chinese imports, as well as restrictions on Chinese investments in the United States and tighter export controls. "But I also fundamentally believe that if there are structural changes that allow our companies to compete fairly, by definition, that will deal with the trade deficit alone". China also says it diversifies its foreign exchange reserves to safeguard their value.

The administration's announcement that it's moving ahead with the tariffs and will have a list of targeted imports by June 15 is a "little interesting", coming just ahead of the trade talks in Beijing, Salmonsen said.

Trump has faced a backlash among lawmakers this month after announcing he would soften United States sanctions on the Chinese telecoms equipment maker ZTE, which neared collapse due to an April ban on purchasing crucial USA components.

The inside of a ZTE smart phone is pictured in this illustration taken April 17, 2018.

Also on Tuesday, a White House official said the United States government plans to shorten the length of visas issued to some Chinese citizens as part of a strategy to prevent intellectual property theft by U.S. rivals.

"It [may] be a strategy".

The administration of President Donald Trump also said that it would impose measures to limit Chinese investment in the US technology sector. "Or it indicates an internal division [between the doves and the hawks], which Trump is finding hard to resolve".

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Europe hit back at the USA after President Donald Trump slapped tough tariffs on European steel and aluminium earlier this week. On Thursday, the USA announced tariffs of 25% on steel and 10% on aluminium from Canada and others, from Friday.

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Trump told reporters he hadn't read the letter yet and added with a smile, "I may be in for a big surprise, folks". Trump said the lengthy conversation Friday "went very well" and called it "a get to know you kind of a situation".

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Another feature, called " Today In ", shows people breaking news in their area from local publishers, officials and organizations. In its announcement on Friday (June 1), Facebook said the section was driving only marginal traffic to news publishers.

Navarro's comments reinforce the growing sense of divide between members of the White House team on how to tackle China.

Treasury Secretary Steven Mnuchin said on May 20 that tariffs targeting Chinese products were put "on hold" following China's agreement to reduce its trade surplus with the US.

How effective a tactic that might be is a matter of debate.

While China's near 30m pa auto market is mainly met by local production and joint ventures, it still imported over 1.2m vehicles past year. U.S. Commerce Secretary Wilbur Ross will visit the Chinese capital from June 2 to 3.

The resumption of tariff actions by the United States could lead China to restart its own tariff actions.

David Dollar of The Brookings Institution disagrees.

Donald Trump is gearing up for a trade war with China.

With about $20 billion in agricultural exports to China past year, US farmers and ranchers are closely following the bout.

Over the past decade, USA companies have doubled down on their Chinese subsidiaries through huge investments, from building factories to setting up stores across sectors. It has also pledged to go on a buying spree of agricultural and energy products as well as review laws related to intellectual property protection among other measures.

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