White House Moves Ahead With Tough Trade Measures on China

White House Moves Ahead With Tough Trade Measures on China

White House Moves Ahead With Tough Trade Measures on China

US Commerce Secretary Wilbur Ross is scheduled to travel to China this week for another round of discussions.

While the trade dispute poses a risk to China's economic outlook, the two countries will likely find common ground, said Robin Xing, chief China economist at Morgan Stanley.

But when Trump subsequently said he would ease penalties against ZTE in order to save Chinese jobs, this drew a sharp backlash from his supporters.

The announcement came as USA officials continued to arrive in Beijing for the latest round of talks between the world's two largest economies.

China was unwilling to make any substantial concessions on its industrial policy or the reform of state-owned enterprises, and those things were at the core of the friction, Pang said. China's Foreign Ministry referred questions to the Commerce Ministry, which did not reply to a fax seeking comment.

"After lengthy second round of talks in Washington, the two sides issued a joint statement vowing not to launch a trade war against each other". "Trade tensions between the US and China, particularly those surrounding the Section 232 and 301 investigations, have raised serious concerns that such tensions will escalate into a trade war with retaliatory measures from both sides".

The unexpected announcement was met with some surprise, in light of Trump's unbridled enthusiasm for the meeting, and most - including White House staff tasked with briefing the press - thought it meant a summit would at least be postponed. The fine would be on top of a $1 billion penalty ZTE has already paid for selling high-tech equipment to North Korea and Iran in violation of USA sanctions.

Earlier this month, the U.S. Department of Defense banned all smartphones and mobile modems from Chinese manufacturers ZTE and Huawei on all U.S. military bases worldwide.

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Last week Trump said he had reached a deal to let Chinese telecommunications firm ZTE stay in business.

GOP and Democratic Senators attacked the deal as insufficient punishment for a company that defied USA sanctions policy.

The U.S. 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, a White House official said on Tuesday. Under that program, China aims to take a leading role in areas such as artificial intelligence, robotics, and electric cars.

"The proposed investment restrictions and enhanced export controls will be announced by June 30, 2018, and they will be implemented shortly thereafter, it added".

In April, the administration detailed a list of Chinese goods that would be subject to tariffs, including flat-screen TVs and medical devices.

China retaliated by imposing additional tariffs worth about United States dollars three billion on 128 USA products. 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.

President Donald Trump said Tuesday he is moving to finalize trade sanctions against China even as a USA delegation is set to travel to Beijing for talks to resolve the dispute.

The White House accused China of placing outrageous levies and requirements on stuff exported from the States to the Middle Kingdom, for allowing Chinese organizations to rip off American technology or steal blueprints through corporate espionage, and basically for making life hard for USA enterprises. China also subsidizes many favored industries.

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