China lashes out at 'reckless' U.S. on trade

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The trade escalation came after the two sides had agreed during talks in Washington earlier this month to find steps to narrow China's $US375 billion trade surplus.

The news follows trade hearings held in Washington earlier this month on the proposed United States tariffs, which have divided opinion between the USA textile industry on the one side, and U.S. apparel and footwear brands and importers on the other.

The report also called on China to negotiate a bilateral investment treaty with the U.S.; implement market opening measures in more sectors; ensure that national security reviews are narrowly applied; develop a comprehensive trade secrets law; open standards development technical committees to foreign-invested enterprises; and improve transparency and equal enforcement of laws and regulations by extending comment periods on new rules, clarifying regulations and issuing public guidance.

"Rrelations, every time a country does an about face and contradicts itself, it's another blow to, and a squandering of, its reputation", Hua said.

The White House announcement may be only the latest dizzying turn in Trump's carrot-and-stick approach to trade negotiations. "It could very well complicate Wilbur Ross's visit". "It is obviously against the consensus reached by the U.S. and China in Washington recently".

Treasury Steven Mnuchin said then that the conflict was "on hold" after Beijing promised to buy more US goods to help narrow its multibillion-dollar trade surplus with the United States.

The change would come as President Donald Trump's administration attempts to crack down on what it says is theft of US intellectual property by China.

Asian equities slid Wednesday as the renewed tension over trade added to concerns over Italy's political turmoil for investors.

The declaration of further sanctions had been expected last week but was apparently delayed.

The meeting held in Washington in May where many matters were discussed on Chinese matters.

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"Trump is insane. crazy tactics might work, though", the person added.

Liu said a fortnight ago that a deal had been struck for China to increase imports of USA energy, agricultural, health, high-tech products and financial services.

"I think this is a bone to the Congress".

A list of potential tariff targets has already been published by the United States trade representative, which mainly includes intermediate goods used by companies to make other products as well as some consumer goods such as televisions.

State news agency Xinhua said China hoped that the United States would not act impulsively but stood ready to fight to protect its own interests.

Photo: US Department of State.

The mixed messages also weaken the USA position by reducing opportunities for cooperation, Levy said. Officials in the Trump administration have sought to distance ZTE from the trade talks, but the president previously linked the two issues.

The two sides, however, gave no indication of how much progress they had made toward ending the dispute over USA complaints about market access and technology policy.

But on Tuesday, the White House accused China of pursuing unfair industrial policies and trade practices - including dumping, discriminatory non-tariffs barriers, forced technology transfer, over capacity, and industrial subsidies.

The US filed the case regarding these violations on March 23.

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