China won’t hold trade talks unless Trump stops threats

25 Setiembre, 2018, 07:09 | Author: Arnold Perez
  • Shamubeel Eaqub

Asked this month if Beijing's planned retaliation was a guarantee that Mr Trump would go ahead with the next round of duties, White House trade adviser Peter Navarro said on NPR's Morning Edition that "the president was crystal clear in his statement: if China retaliates, the process will move forward on the additional amount".

On Monday, the trade war escalated dramatically, with USA tariffs going into effect on $200 billion worth of Chinese goods. A news report suggested that China will block any potential negotiations unless U.S. president Trump withdraws his threats of further tariffs on the country.

President Trump, who has accused Beijing of exploiting the U.S. on trade, wants to reduce China's $375.6 billion goods trade surplus with America.

The US will levy tariffs of 10 per cent initially, rising to 25 per cent at the end of 2018.

"It has brazenly preached unilateralism, protectionism and economic hegemony, making false accusations against many countries and regions, particularly China, intimidating other countries through economic measures such as imposing tariffs, and attempting to impose its own interests on China through extreme pressure", the report said.

The Trump administration has argued tariffs on Chinese goods would force China to trade on more favorable terms with the United States.

Economists warn that a protracted dispute will eventually stunt growth across the globe.

"We are going to win it", Pompeo said in an interview on Fox News broadcast Sunday.

Previous talks in late August led to little progress.

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Fitch Ratings has cut its growth estimates for China and the world for 2019.

One project in particular seems caught in the crosshairs of the trade war: a $43 billion project to pipe natural gas from the North Slope of Alaska across the state to an LNG export facility near Anchorage.

The products spared also include smartwatches and Bluetooth devices, like the iPhone and Fitbit, child safety products such as high chairs, vehicle seats and playpens, and certain health-and-safety products such as bicycle helmets, USA officials said.

Walmart, the world's biggest retailer, also warned of the "detrimental impact" to consumers if tariffs were imposed on a number of products, but many of those, like handbags, suitcases, haircare products, dog food and dog leashes, remained on the final list.

Other computer parts are also the subject of the new tariff. And President Trump has threatened to tax effectively all of China's imports to the USA - a move China can't match with tariffs alone.

This means China will fail to match its American counterpart in a full-blown trade war and will soon impose other "qualitative" measures in a bid to oust Washington, officials warn.

The spiraling trade fight adds to the growing areas of friction between the rival powers.

This week the USA sanctioned a Chinese military procurement organisation, drawing a sharp protest from Beijing and a decision to postpone planned military talks.

The two are also at odds over Beijing's wooing of Taiwan's diplomatic allies, treatment of religious groups and claims to disputed islands in the South China Sea.

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