China warns United States no deal if tariffs go ahead

04 June, 2018, 09:35 | Author: Mable Gonzales
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The previous round of talks in Washington saw China pledging "significant increase" in its purchases of USA agricultural goods.

Beijing said the two sides had made "positive and concrete progress" on matters like increasing agricultural and energy imports but said details were left for "both sides to finalise".

Trump's announcement that he wanted to proceed with tariffs on China came less than two weeks after the two countries had said they were putting threats of tariffs on hold while they continued negotiating.

"Reform and opening-up as well as expanding domestic demand are China's national strategies. Our established rhythm will not change", it said.

"China is willing to sit down and negotiate - the country does have a need to import more consumer goods and natural gas", he said.

Trade analysts had warned the US' hand might be weakened by its decision to go ahead with tariffs on steel and aluminum imports from Canada, Europe and Mexico.

There was no immediate comment or statement from the us delegation or from Ross himself. Trump officials are considering levies on $50 billion worth of Chinese imports, as well as new restrictions on Chinese investment in the US and tighter export controls.

An editorial in China's Global Times, a state-run newspaper, criticized the U.S. for coming up with new demands.

He said Washington would use its move on Tuesday to slap punitive tariffs on Chinese imports as a bargaining chip. "China-U.S. trade negotiations have to dig up the two sides' greatest number of common interests, and can not be tilted toward unilateral U.S. interests".

"The Chinese government's attitude of not wanting but also not fearing a trade war has never changed", it said.

Mnuchin had been part of the first trade delegation to Beijing, which sought to pressure China to cut $US200 billion from its USA trade surplus and stop promoting Chinese technology companies if Beiing wanted to avoid a trade war.

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US Commerce Secretary Wilbur Ross and China's Vice Premier Liu He.

Liu spoke only to welcome Ross. Ross has not made any comments to the media since arriving.

The two-day talks in Beijing which ended on Sunday followed an earlier round in Washington where officials had met to discuss the situation.

Wilbur Ross sounded upbeat on Sunday after having dinner the previous evening with China's Vice-Premier Liu He. China's willingness to buy more American products and allow USA investments with IPR protections raised hopes of an agreement, which led to current round of talks in Beijing.

China has promised to "significantly increase" purchases of farm goods, energy and other products and services.

The looming tariff hikes have also raised hackles among U.S. trade partners in Canada, Mexico and the European Union, stoking fears that a full-scale trade war could erupt within days.

"It has been a tense and tough G7 - I would say it's been far more a G6 plus one than a G7", said Le Maire, who called the tariffs unjustified.

"There are structural changes that allow our companies to compete fairly".

The warning came after the latest round of trade talks ended inconclusively in Beijing.

On Saturday, Trump weighed in on the trade situation with other countries.

Ross had been expected to seek clear commitments from Beijing to boost Chinese imports of United States products in areas such as energy and agriculture.

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