. Earth Science News .
TRADE WARS
White House moves to finalize China trade sanctions
By Douglas Gillison
Washington (AFP) May 29, 2018

President Donald Trump said Tuesday he is moving to finalize trade sanctions against China even as a US delegation is set to travel to Beijing for talks to resolve the dispute.

The White House said the planned sanctions announced in March, largely focused on China's theft of American intellectual property, were still in the works and details would be announced in the coming month.

It was yet another apparent change of course for Trump, who veers from harsh threats to promises of compromise and back again on trade and other more sensitive issues.

Despite announcing a truce in the trade hostilities less than 10 days ago, after Treasury Secretary Steven Mnuchin said threatened tariffs on Chinese goods were "on hold," the White House signaled it was ready to pull the trigger on a broad array of penalties.

"From now on, we expect trading relationships to be fair and to be reciprocal," in a statement, which spelled out a list of long-standing US trade grievances," Trump said in a statement.

The Chinese Commerce Ministry said the move breached the recent consensus reached between Washington and Beijing.

"Whatever measures the United States takes, China has the confidence, capability and experience to defend the interests of Chinese people and the core interests of the country," the ministry said in a statement published by official new agency Xinhua.

The US trade sanctions announced in March -- including restrictions on Chinese investment, export controls and 25 percent tariffs on as much as $50 billion in Chinese tech goods -- remain under development, the White House said.

The final list of Chinese imports covered by the tariffs list will be announced June 15, and imposed shortly thereafter, while the proposed investment restrictions and enhanced export controls will be announced by June 30, according to the statement.

Trump has threatened to impose tariffs on an additional $100 billion in Chinese goods as well if Beijing retaliates.

- 'Difficult and unfair' -

The White House said "the United States will continue efforts to protect domestic technology and intellectual property, stop noneconomic transfers of industrially significant technology and intellectual property to China, and enhance access to the Chinese market."

In addition, as part of the ongoing talks "the United States will request that China remove all of its many trade barriers, including non-monetary trade barriers, which make it both difficult and unfair to do business there."

The announcement, which offered little new information, comes as Commerce Secretary Wilbur Ross prepares to travel to Beijing this week for another round of talks aimed at resolving the conflict, which includes a threat of matching sanctions from China on US goods.

The White House issued a second statement listing the details of many complaints against China, including dumping of goods into the US market at below market value, high tariffs and overcapacity -- likely referring to steel and aluminum, which are subject to another set of harsh US tariffs.

In addition to the bilateral talks with Beijing, the US also will continue to pursue the complaints filed in the World Trade Organization as well as the cases against individual products.

The National Retail Federation on Tuesday said it was "disappointed" with the new White House communications, saying the tariffs would raise prices, kill jobs and spur costly retaliation.

"China's trade practices raise serious concerns but job-killing tariffs aren't the answer," the statement said.

"The lack of clarity surrounding the administration's plans is creating significant uncertainty for American businesses, disrupting supply chains and threatening to undermine the economic gains we've seen over the past year.

The NRF cited a study which estimated the tariffs on $50 billion in Chinese imports could shave $3 billion off of US GDP and eliminate 134,000 jobs.

The White House announcement came on the heels of stiff criticism from lawmakers of the White House's negotiating tactics and willingness to soften tough penalties in some cases with no benefit to the US.

Trump has faced a backlash among lawmakers this month after announcing he would soften US sanctions on the Chinese telecoms equipment maker ZTE, which neared collapse due to an April ban on purchasing crucial US components.

Lawmakers in both parties also criticized the president, saying this month's truce surrendered Washington's leverage without obtaining significant concessions from Beijing.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
Macron presses tech giants on taxes, working conditions
Paris (AFP) May 23, 2018
French President Emmanuel Macron on Wednesday urged Facebook CEO Mark Zuckerberg and the bosses of other tech companies accused of hoovering up personal data while avoiding taxes to use their clout for global good. Around 60 industry leaders, including Zuckerberg, Uber CEO Dara Khosrowshahi and IBM chief Ginni Rometty travelled to Paris for talks with the French leader about improving the lives of workers in the gig economy and being better corporate citizens generally. Zuckerberg arrived from B ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Navy captain accused in deadly Tunisia migrant boat sinking

Arkema's Texas plant unprepared for Harvey floods, inquiry finds

An electronic rescue dog

Brazil rescues African, Guyanese migrants drifting at sea

TRADE WARS
Astonishing effect enables better palladium catalysts

Focus on space debris

Aireon System Deployment Continues with Sixth Successful Launch

Glass-forming ability: fundamental understanding leading to smart design

TRADE WARS
New robot concept uses responsive materials to swim through water

Loss of marine habitats is threatening the global fishing industry

Twin Spacecraft Launch to Track Earth's Water Movement

Excess nutrients, coupled with climate change, damage the most highly resilient corals

TRADE WARS
Canada, Denmark seek to settle Arctic island dispute

A promising target in the quest for a 1-million-year-old Antarctic ice core

Remote camera network tracks Antarctic species at low cost

Arctic coastal powers back 'peaceful' dialogue over disputes

TRADE WARS
A hidden world of communication, chemical warfare, beneath the soil

Research suggests sweet potatoes didn't originate in the Americas as previously thought

Scientists' new way to identify microscopic worm attacking coffee crops

Throwing out food

TRADE WARS
17 missing as cyclone pummels Yemen's Socotra island

Lightning in the eyewall of a hurricane beamed antimatter toward the ground

Machine listening for earthquakes

Hurricanes: A bit stronger, a bit slower, and a lot wetter in a warmer climate

TRADE WARS
China, Russia rise in C. Africa as Western influence shrinks

China, Burkina Faso establish ties following Taiwan snub

France to pump 65 million euros into African startups

12 civilians killed in Mali market attack

TRADE WARS
Prehistoric people also likely disrupted by environmental change

'Uniquely human' muscles have been discovered in apes

Trait tied to autism may explain emergence of realistic art

What we inherited from our bug-eating ancestors









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.