White House Urges China Address ‘Unfair Trading Practices’ Not Tariff Retaliation

White House Urges China Address ‘Unfair Trading Practices’ Not Tariff Retaliation

White House Urges China Address ‘Unfair Trading Practices’ Not Tariff Retaliation

"The implementation date of the taxation measures will be subject to the actions of the USA, and China reserves the right to continue to introduce other countermeasures", China's Ministry of Commerce said in a statement.

China received 103.4 million cubic feet of LNG from the USA last year, the Energy Information Administration says.

The U.S. president has accused China and others of exploiting the United States in global trade, and has demanded Beijing make a host of concessions to avoid the new duties on $200 billion of Chinese goods, which could be imposed in the weeks after a comment period closes on September 5.

Beijing plans to impose an additional 5% in tariffs on about 600 kinds of products including planes and computers, another 10% on nearly 1 000 products including wigs and textiles, an extra 20% on more than 1 000 items including some chemicals, cookers and paper, and an additional 25% on over 2 400 products such as meat, wheat, wine and LNG, according to the statement.

Representatives for the White House and the US Commerce Department did not immediately reply to a request for comment on China's retaliatory move. But they have rejected changing technology development plans they see as a path to prosperity and global influence. The vast majority of economists expect that rush to buy before the trade war escalated will be followed by lower than usual exports in the second half of the year.

President Donald Trump's administration has imposed duties on steel and aluminum imports, provoking retaliation by the United States' trade partners, including China, Canada, Mexico and the European Union. China immediately retaliated by imposing levies on the same amount of USA goods.

"The US side has repeatedly escalated the situation against the interests of both enterprises and consumers", the Chinese Commerce Ministry said in its statement.

Beijing's earlier round of tariffs appeared created to minimize the impact on the Chinese economy by targeting soybeans, whiskey and other goods available from Brazil, Australia and other suppliers. He told trade officials this week to consider raising that to 25 per cent.

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By comparison, companies in America sold £100bn ($130bn) of goods to China during the same period.

Beijing says the United States is deliberately creating the trade conflict, using bullying tactics, and ignoring worldwide negotiating norms so that it can stop the rise of China as a competitor on the world stage.

Trump's tariffs target goods the White House says benefit from industrial policies such as "Made in China 2025", which calls for developing Chinese competitors in robotic, artificial intelligence and other fields. Washington also wants China to stop subsidizing Chinese companies with cheap loans, claiming that this allows them to compete unfairly. The inquiry found that Chinese theft of USA intellectual property was costing the US economy billions of dollars.

"We urge the United States to come to its senses, correct its erroneous acts and create the necessary condition for a proper settlement as soon as possible", spokesman Geng Shuang said.

The Chinese Commerce Ministry blamed the US for escalating the situation.

The Republican president has been keen to show he is tough on trade ahead of tricky congressional elections in November, joking at a rally in Pennsylvania on Thursday: "China is not happy with me".

Morgan Stanley has estimated annual Chinese imports of U.S. LNG could rise to as much as $9 billion within two or three years, from $1 billion in 2017.

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