Published: Fri, June 01, 2018
Worldwide | By Angelina Lucas

Trump trade agenda runs into challenges

Trump trade agenda runs into challenges

On Tuesday, the U-S said it would continue pursuing action on trade with China, days after Washington and Beijing suggested that tensions had eased.

US President Donald Trump has put a missile, in the form of trade sanctions, back on the launchpad, started fueling it, and programmed its computer to strike Beijing.

The White House said it will also implement "specific investment restrictions and enhanced export controls" for Chinese individuals and entities related to technology in the coming weeks.

It said the final list of covered imports, worth around $50bn (£38bn), will be published on June 15, with the 25pc tariff imposed shortly after.

Washington, May 30 The Trump administration's move to impose a hefty 25 per cent tariff on the Dollars 50 billion worth of Chinese goods and tighten its noose against China's alleged theft of US' intellectual property rights will have an adverse impact on American consumers, industry leaders and lawmakers have warned. The communist regime has also engaged in rampant intellectual property theft.

The announcement on Tuesday restated comments by administration officials that both the tariffs and the restrictions remained in place even after the United States and China sketched out a deal this month to reduce China's $375 billion trade surplus with America.

"Quoting a White House statement, CNN reported that the president plans to take "multiple steps" to protect technology and intellectual property from certain discriminatory and burdensome trade practices by China".

In the statement, China also promised to defend its domestic economy in the event that the Trump administration continues the trade attacks.

The renewed threat of tariffs comes ahead of commerce secretary Wilbur Ross's visit to Beijing this week when he will try to get China's agreement to firm numbers for additional USA exports to the country.

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The White House's latest tariff action focuses on advanced technologies, including those such as robots and electric cars that China has said it wants to develop under its "Made in China 2025" program. However, none of the tariffs above came into effect.

The White House claimed that China's intellectual property theft alone costs USA innovators billions of dollars a year, and China accounts for 87 per cent of counterfeit goods seized coming into the United States.

"What we're having with China is a trade dispute, fair and simple", he said.

A truce between China and the United States said to put a trade war on hold has dissolved in less than two weeks.

Other analysts, however, say the newly confrontational stance may be meant to appease congressional critics of a deal the Trump administration made Friday that allowed Chinese telecom giant ZTE stay in business.

In a statement, China's Commerce Ministry said the announcement is "obviously in violation" of this recent agreement.

Commerce Secretary Wilbur Ross will head to China to talk with the government on Saturday.

"The US Chamber supports the administration's ongoing efforts to deal with China's unfair trade practices and policies".

The decision, which was announced after a state council meeting led by Premier Li Keqiang, aims to further open China's consumer market, will force its industries to upgrade and boost competitiveness, the government said in a statement.

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