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Commerce secretary, Chinese vice premier to talk trade amid row

06 June 2018

The warning came after delegations led by U.S. Commerce Secretary Wilbur Ross and China's top economic official, Vice Premier Liu He, wrapped up a meeting on Beijing's pledge to narrow its trade surplus. "As a fine friend and ally of the United States, nobody denies that".

Ross was accompanied by agricultural, treasury and trade officials.

He has also threatened tariffs on up to $150 billion in Chinese products to punish Beijing for pressuring USA companies to turn over technology in exchange for access to the Chinese market.

After setting a record last month at 6.6 percent, black unemployment dropped again to 5.9 percent, the lowest since record-keeping by race began in 1972.

According to the Journal, China stressed that the purchases would be void if the Trump administration went forward with the tariffs. Mnuchin, who announced the truce in mid-May, has been at loggerheads with more protectionist-minded Trump administration figures. White Home advisers had been insisting on elementary adjustments in ties between the world's two largest financial powers. -China negotiations in Beijing.

The two countries have held a series of negotiations aimed at averting a trade war.

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The White House said that Trump planned to add the tariffs to combat Chinese intellectual property theft, including tariffs on exports believed to contain stolen American intellectual property. -China deal in domestic circles.

Liu is China's chief negotiator in the trade dispute. They have avoided tariffs & got a #ZTE deal without giving up anything meaningful in return ...

But the president defended his actions saying the USA would soon be in a stronger position with its top trading partners. Rising tensions between the world's two biggest economies alarmed investors and business leaders.

After a three-day meeting of finance ministers from the G7 industrial nations that ended Saturday in Canada, Canadian Finance Minister Bill Morneau issued a summary saying the other six members want Trump to hear their message of "concern and disappointment" over the USA trade actions. It says the two sides have made concrete progress on many areas but the details are left for final approval.

Last week, however, the US announced that it meant to apply tariffs on $50 billion of Chinese technology goods and impose restrictions on Chinese investments in the USA shortly after June 15 unless trade talks reached a major breakthrough.

Tensions quickly eased on Might 19 after China promised to "considerably improve" its purchases of US farm, power and different merchandise.

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Another feature, called " Today In ", shows people breaking news in their area from local publishers, officials and organizations. Mark Zuckerberg, Facebook's CEO, later met with conservative commentators and leaders to defuse an uproar over the allegations.

Gao slammed the proposal, saying US measures to implement investment restrictions and export controls against China "do not conform with the basic principles and spirits of the WTO (World Trade Organization)".

Zimmerman said: "Trump's threat of sanctions, the internal infighting among the USA team, and lack of a sensible Plan B is not a cohesive strategy but evidence of a desperate desire for a deal, any deal".

"If the United States launches trade sanction measures, including the imposition of tariffs, then all the economic and trade benefits negotiated by both sides are not going to take effect". China has focused $50 billion in US merchandise for doable retaliation.

In an editorial, the official state-run China Daily said the outcome of the weekend talks suggested both sides had continued to take a constructive approach, but warned of Trump's unpredictability.

"There's still a risk that this escalates into a trade war", Levy said.

Now, however, the Trump administration argues that the cost of not responding to China's "unfair trade practices - including dumping, discriminatory non-tariff barriers, forced technology transfer, over capacity, and industrial subsidies -" is more costly than the economic hit of tariffs.

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Trump's antagonistic trade policies - and specifically the steel and aluminum tariffs - drew worldwide denunciation. He affirmed that President Trump would attend the G7 next week in Canada .

Commerce secretary, Chinese vice premier to talk trade amid row