President renews plan to impose tariffs on $50B of Chinese goods

President renews plan to impose tariffs on $50B of Chinese goods

President renews plan to impose tariffs on $50B of Chinese goods

"This kind of public pressure could make it harder for China to respond in a conciliatory fashion", said Claire Reade, another former US trade official who is now with Arnold & Porter.

Details of the final tariff list of $50bn of imports to the U.S. will be published by 15 June, with investment and export controls to be announced by 30 June. Those restrictions will be announced by June 30, the Trump administration says, and will also be implemented "shortly thereafter". The communist regime has also engaged in rampant intellectual property theft.

The International Monetary Fund called on China and the United States to settle their trade dispute.

China said last month that it would respond to the USA tariff threat with similar measures on $50 billion of American exports, including aircraft, automobiles and soybeans.

In a further indication of the Trump administration striking a tougher tone before the negotiations later this week, the White House issued a separate statement running through its major grievances over China's trade practices from forced technology transfers to automobile import tariffs.

"We will counteract whatever comes our way, and if the United States insists on acting recklessly, China will inevitably adopt firm and forceful measures".

Mr Ross is set to arrive in Beijing on Saturday where he is expected to try to get China to agree to firm numbers to buy more U.S. goods, but the latest aggressive move from Washington could cast doubt over whether negotiations can progress to the next level.

Mr Trump had already fuelled uncertainty over trade talks with China, after saying last week that any deal between Washington and Beijing would need "a different structure".

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A team of US officials was scheduled to arrive in Beijing on Wednesday to discuss the broad outline of the next round of talks, but if the two sides failed to reach agreement on what would be discussed, the trip - led by Commerce Secretary Wilbur Ross - could be canceled, the Wall Street Journal report said.

The tariffs being mooted are part of a Section 301 investigation by the Office of the United States Trade Representative (USTR) into unfair Chinese technology and intellectual property policies and practices. The Commerce Ministry didn't respond to questions about the status of the meeting, but the American Embassy said a delegation of trade, agriculture and treasury officials had arrived in the Chinese capital to make preparations.

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

China's Ministry of Commerce said yesterday that the USA statement is contrary to the consensuses the two sides previously reached in Washington.

Trump has frequently focused on the trade deficit, urging China to boost its imports and lower the gap by $200 billion, while China has refused to agree to any dollar amounts.

Embracing market forces means reducing public sector dominance over many industries, opening markets to the private sector, and ensuring competition, the fund said, adding that the trade and investment remain restrictive.

Investor Wilbur Ross was brought into the administration as one of President Donald Trump's "killers" - but in recent months, the commerce secretary has been increasingly marginalized, with his agency widely seen in the White House as a mess.

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