China vows to fight US back on trade tariffs

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The White House fact-sheet also said that recent investigations by the US Trade Representative's (USTR) identified four of China's aggressive technology policies that put 44 million American technology jobs at risk, including forced technology transfer; requiring licensing at less than economic value; Chinese state-directed acquisition of sensitive United States technology for strategic purposes; and outright cyber theft.

The cabinet announcement Wednesday was the third tariff cut in six months on selected imports in what Beijing says is an effort to improve consumer choice and encourage domestic consumption.

In a statement Tuesday, the White House said a final list of covered imports will be released by June 15 and the tariffs will be imposed "shortly thereafter".

After an announcement on Tuesday that tariffs on US$50 billion in Chinese goods were coming soon, Navarro lamented that Treasury Secretary Steven Mnuchin's suggestion that the tariffs were on hold was erroneous.

In response, the Chinese Commerce Ministry said the country is prepared for whatever the United States may impose.

These investment restrictions will be announced on June 30 and implemented shortly afterwards.

The American Chamber of Commerce in China said this country can no longer justify the protections it was granted as a developing country when it joined the World Trade Organization in 2001. The National Electrical Manufacturers Association (NEMA) said earlier this month that if imposed, the tariffs would cause "collateral damage" to US manufacturers because many vendors either produce their own products in China or source finished goods and components from contractual partners in China.

"The two parties can reach a deal by China increasing imports", Xing said Wednesday in a Bloomberg Television interview from Beijing.

"China has consistently taken advantage of the American economy with practices that undermine fair and reciprocal trade".

China has responded with its own tariffs on US imports, in particular agricultural goods, warning that more will follow in response to America's if it continues to add further levies. The fine would be on top of a $1 billion penalty ZTE has already paid for selling high-tech equipment to North Korea and Iran in violation of US sanctions.

The ban was meant to be punishment for what U.S. officials said were false statements by ZTE over actions it claimed to have taken regarding the illegal sale of goods to Iran and North Korea.

But also last week Trump said any broad agreement with China would need quote "a different structure", fueling doubts about the trade talks. He threatened tariffs on as much as $150 billion worth of Chinese imports, prompting tit-for-tat threats by Beijing.

He demurred, however, when asked about the administration's position on Chinese telecom firm ZTE, saying it was a law enforcement matter upon which he could not comment.

"As the USA and China prepare for another round of negotiations, we hope the administration has clearly defined objectives and concrete solutions to resolve this trade dispute without tariffs".