China-US Trade Dispute: A Never-Ending Story?

China-US Trade Dispute: A Never-Ending Story?

Fears of a trade war between the world's two biggest economies had also receded after the administration of President Donald Trump said it had reached a deal that would put ZTE Corp back in business after banning China's second-biggest telecoms equipment maker from buying US technology parts.

"Those exports are precisely the exports in the China 2025 industries.", said Peter Navarro the White House Director of Trade and Industrial Policy.

The US will also continue to pursue litigation at the World Trade Organisation for violations of the Agreement on Trade-Related Aspects of Intellectual Property Rights based on China's discriminatory practices for licensing intellectual property, the statement said.

Details of the final tariff list of $50bn of imports to the USA will be published by 15 June, with investment and export controls to be announced by 30 June.

The announcement on Tuesday restated comments by administration officials that both the tariffs and the restrictions remained in place even after the United States and China sketched out a deal this month to reduce China's $375 billion trade surplus with America. The latest move to announce the tariffs comes ahead of US Commerce Secretary Wilbur Ross's visit to China next month over the same.

The March memorandum was signed after a US Trade Representative report into China's practices in technology transfer, IP and innovation.

But on Tuesday evening it said that sanctions announced in March - largely focused on China's theft of USA intellectual property - were still in the works and details would be announced in the coming month.

U.S. President Donald Trump and Chinese President Xi Jinping shake hands during a meeting in November.

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Meanwhile, Beijing said the sudden hardening of the United States position ahead of the 3rd rounds of talks will only damage United States credibility.

Earlier on Tuesday Trump said Washington would impose tariffs on $50 billion of Chinese imports.

Just ten days ago, the world market was returning to calm after an agreement between China and the United States that established an understanding on their trade differences, but now uncertainty has return due to the same reasons. The merry little trade war with China appears to be back on, as the White House announced tariffs on a broad range of imports.

The other area the U.S.is targeting is China's acquisition of high technology know how either by legitimate investments or what the US labels intellectual property theft and forced technology transfers.

Regulators also promised to cut auto import duties from 25 percent to 15 percent on many vehicles effective July 1.

China said last month that it would respond to the USA tariff threat with similar measures on $50 billion of American exports, including aircraft, automobiles and soybeans.

If the two sides fail to reach an agreement and the USA moves forward with tariffs, Chinese officials have said they plan to retaliate with tariffs of their own on United States exports such as soybeans.

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