China vows to struggle Washington on tariff hike

China vows to struggle Washington on tariff hike

China vows to struggle Washington on tariff hike

Washington will also press ahead with restrictions on investment by Chinese companies in the USA as well as export controls for goods exported to China, the statement from the White House said.

Tariffs of 25 percent will be applied to Chinese imports containing important technologies, including those related to Beijing's Made-in-China 2025 development program, the White House said.

The White House announcement said it also would impose curbs on Chinese investment and purchases of high-tech exports. The final list of covered imports subject to penalty will be announced by June 15 and imposed shortly thereafter.

The United States said on Tuesday that it still held the threat of imposing tariffs on $50 billion of imports from China and would use it unless Beijing addressed the issue of theft of American intellectual property. But this latest flip-flop could damage the credibility of the USA and President Trump.

The Donald Trump administration stated that it would crack down on "illegal" Chinese trade practices by June 30.

A foreign ministry spokeswoman complained Wednesday that the USA decision to renew a threat to raise duties on a $50 billion list of Chinese goods conflicts with an agreement in mid-May aimed at settling that dispute.

All the talk of reducing the massive U.S. trade deficit boils down to one issue - technology.

"No matter what the actions that the U.S. plans to take, China has the confidence, the capability and the experience to defend the core interests of the people and the nation", the statement said.

Beyond the student limits, U.S. consulates and embassies reportedly received instructions that any Chinese citizen applying for a visa will need to secure additional special permission form the U.S. if they work in research or management for any company the U.S. Commerce Department lists as an entity "requiring higher scrutiny".

"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".

China retaliated by imposing additional tariffs worth about United States dollars three billion on 128 USA products. In particular, China's favoring of its own companies over foreign firms and its handling of intellectual property rights, or lack there of, with companies that do business on the mainland.

The United States will also continue to pursue litigation against China at the World Trade Organization.

It comes as Commerce Secretary Wilbur Ross prepares to travel to Beijing this week for another round of talks aimed at resolving the conflict.

The White House also pledged to continue a WTO case it started in March on accusations that China's intellectual property practices violate global trade law.

"For many years, China has pursued industrial policies and unfair trade practices - including dumping, discriminatory non-tariff barriers, forced technology transfer, overcapacity, and industrial subsidies - that champion Chinese firms and make it impossible for many USA firms to compete on a level playing field", it said. China accused Trump of flip-flopping on trade.

He said the two countries were in talks and had made "meaningful progress".

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