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Donald Trump engages in a trade war with China

Donald Trump engages in a trade war with China

Donald Trump engages in a trade war with China

China has always said it will not hold talks with the US within the framework of the Section 301 probe, Chen Fuli, director-general of the commerce ministry's department of treaty and law, told reporters.

The US Trade Representative, Robert Lighthizer, filed a request for consultations with China at the WTO to address Beijing's discriminatory technology licensing requirements.

The Commerce Ministry urged Washington to negotiate "to avoid damage to overall Chinese-US cooperation".

China appears to be breaking WTO rules by denying foreign patent holders, including USA companies, basic patent rights to stop a Chinese entity from using the technology after a licensing contract ends, the USTR said.

One Chinese official told the media that China is "keeping its power dry by not touching the big-ticket imports from US".

Foreign policy hard-liner John Bolton's appointment as USA national security adviser comes at a particularly sensitive time for relations with Beijing following President Donald Trump's approval of new tariffs on China and a law encouraging closer relations with Taiwan.

U.S. President Donald Trump, who ordered the tariffs to ensure the survival of U.S. steel producers for what he said were "national security" reasons, temporarily suspended the duties for U.S. allies in the European Union, Canada, Mexico, South Korea, and elsewhere. This value is estimated to be "at least $50 billion per year", it added.

"Trump now has a faithful implementer of his policies", Yu said.

The tariffs will not take effect immediately.

After a 30-day comment period, the list, targeting Chinese products that benefited from United States technology, will be made public.

Some industry participants said the tariffs and the threat of a brewing trade war between China and the United States would create more Chinese demand for European pork exporters, who have boosted supplies to China in the last two years after sanctions on Russian Federation closed one of the region's key markets.

The proposed tariffs include a 15 percent levy on fresh fruit, nuts and wine valued at $1 billion.

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Earlier this month, President Donald Trump announced 25 percent tariffs on steel coming into the country and 10 percent tariffs on imported aluminum. The tariffs are effective Friday.

With technology a critical component of supply chain operations and logistics, intellectual property thefts can "jeopardize US global competitiveness, innovation, productivity and cybersecurity", ITI wrote in a letter. The 25% tax will be introduced after "a further evaluation of the impact of USA measures on China" is completed, the ministry statement said.

Those rules are embodied and overseen by the World Trade Organization, which now sees its authority challenged and possibly diluted by the US government's move to create tariffs without prior consultations - posing a threat to a trade architecture meticulously built up over decades.

The statement accused the USA of restricting imports under "the excuse of national security", which has "gravely damaged the multilateral trade system represented by the WTO" and "severely disrupted the normal worldwide trade order".

The Chinese move appeared to be warning shot aimed at increasing domestic USA pressure on Trump by making clear which exporters, including farm areas that voted for the president in 2016, might be hurt.

On Friday, China said it plans to raise tariffs on a $3 billion list of USA goods including pork, apples and steel pipes in response to the steel and aluminum duties earlier announced by Trump.

Sputnik spoke with Pauline Loong; the managing director of the Hong Kong-based economic research consultancy Asia-analytica to find out more about Trump's tariffs policy towards China.

Trump campaigned on promises to bring down America's trade deficit, which stood at $566 billion a year ago, by rewriting trade agreements and cracking down on what he called abusive commercial practices by US trading partners.

Chinese customs data show that in the first two months of this year, the surplus jumped 35% year-on year to $42.9 billion.

He also accused a United States probe into Chinese intellectual property practices of violating global trade rules.

In addition to the tariffs, the U.S. also plans to impose new investment restrictions, take action against China at the World Trade Organisation while the Treasury Department also will propose additional measures.

Global stocks have plummeted as fears rise that the confrontation could provoke a damaging trade war.

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