United States using false accusations on trade to 'intimidate' countries: China

United States using false accusations on trade to 'intimidate' countries: China

While the USA has a trade deficit with China, Chinese companies have a profit deficit with the US, he said.

China has raised tariffs on $60 billion of USA imports in an escalation of their fight over technology policy following a deadline for President Donald Trump's latest increase.

On Saturday China called off planned trade talks with USA officials, and there's a growing consensus in Beijing that substantive talks will be possible with the Trump administration only after the United States midterm elections in November, according to people familiar with the matter.

Earlier, the two sides imposed 25 per cent penalties on $34 billion of each other's goods in July and another $16 billion in August.

The General Administration of Customs said it started collecting additional taxes of 5 to 10 percent on a list of thousands of American goods at noon Monday, ratcheting up their fight over Beijing's technology policy.

The conflict stems from USA complaints Beijing steals or pressures foreign companies to hand over technology.

There is no sign that the USA will resume negotiations, with President Donald Trump threatening further tariffs and a US official telling farmers they they should diversify away from the Chinese market.

As China called off planned trade talks with USA officials, the latest round of retaliatory tariffs went into effect on Monday.

China yesterday accused the U.S. of using false accusations on trade to "intimidate" other countries, as the tariff battle between the global giants intensifies. "Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook".

Trump imposed tariffs for the first time in March this year, levying 25 percent on steel imports and 10 percent on aluminum.

Instagram co-founders resign after 'clash' with Facebook's Zuck
The problem now is that line is already looking maxed out at the time the Facebook chief executive needs it the most. When the pair sold Instagram to the social network in 2012, Facebook gave them free rein to run it independently.

Michael Kors is buying Versace for $2 billion
The Qatari royal family owns Valentino. "Nice Playbook For Versace, But BUY KORSFOR KORS", Jefferies analyst Randal Konik said . Versace is now 80% controlled by the late designer's family, with private equity firm Blackstone holding a 20% stake.

Comerica Park food services employee seen spitting on pizza in police custody
The prosecutor's spokesperson recently told the outlet that a decision will be made "in time for morning arraignments". The worker involved in this matter has been terminated. ►Make it easy to keep up to date with more stories like this.

The US president has credited his electoral success to his hard line on trade, which he has argued hurts US workers and favors foreign competitors.

"China and the USA have held four rounds of high-level talks".

The statement came a day after the two countries' new tariffs on each other's goods kicked in.

"US unilateralism and protectionism has caused many countries to retaliate ..."

In June, Mexico announced new tariffs on whiskey, cheese, steel, bourbon and pork from the US.

The EU also retaliated by imposing 25 to 50 percent taxes on more than $3 billion of United States goods, including blue jeans, Harley-Davidson motorcycles, peanut butter, orange juice, rice and corn.

In announcing the rates for the retaliatory duties last week, the government in Beijing said the tariffs would be effective as of 12:01 p.m. local time on September 24.

"Unlike his frequent tweets and commentary about tariffs, Trump has not articulated exactly what he wants from China, or how he wants to achieve it", Bown wrote.

Secretary of State Mike Pompeo seemed confident on Sunday, however, that the USA would win any potential trade war with China.

Related Articles