U.S. is putting a knife to China's neck, says trade negotiator

Marcus Newton
September 26, 2018

The advertising targets a state critical to Trump and Republicans as the trade war between the world's two largest economies intensifies. Trump has threatened another round of tariffs, effectively covering every product the United States imports from China, if Beijing retaliates against Monday's tariffs.

Trump had warned that the retaliatory duties by Beijing would ignite a fresh round of tariffs on $267 billion worth of Chinese imports, meaning that all Chinese exports to the United States could effectively be subjected to new duties.

The Trump administration officially levied tariffs on $200 billion worth of Chinese imports Monday. The two nations had already slapped tariffs on $50 billion worth of each other's goods earlier this year.

A report published Monday by the Chinese government accused the United States of abandoning fundamental norms of worldwide relations.

"The United States used to be the top vehicle exporter to China, but now Germany has become the leader", Vice Commerce Minister Wang Shouwen said at a press conference.

As the latest wave of China-U.S. tariffs take effect, BNN Bloomberg's Amanda Lang speaks with Leland Miller, CEO of China Beige Book, to get a better sense of the risks and opportunities of investing in China.

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The response, which came just over an hour after the USA imposed new duties on US$200 billion in Chinese goods on Monday, underscores a deepening gulf between both governments in a dispute that observers say is less about a row over a bilateral goods deficit and increasingly about a USA desire to put the brakes on China's economic ascent. The Trump administration has also called on China to allow US companies greater access to Chinese markets and to cut its USA trade surplus.

High-ranking officials from several Chinese government agencies held a press conference on Tuesday as Beijing rolled out a new white paper claiming to set the record straight on trade-related facts.

He told the representatives that "certain United States forces have been making groundless accusations against China on trade and security, generating confrontational sentiments and poisoning the atmosphere of bilateral ties", according to a statement released Tuesday by the foreign ministry.

US President Donald Trump has imposed three rounds of trade tariffs on Chinese products, blaming the country for unfair trade practices.

Senior officials also once again rejected Washington's accusations that China forces foreign companies to share their technology with Chinese joint-venture partners, adding that Beijing has passed a rule forbidding government entities from such illegal behaviour.

"Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook", Fitch said in a report Friday. Navarro said the goal now is structural realignment where all countries the US trades with engage in "free, fair, and reciprocal" agreements.

Other reports by MaliBehiribAe

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