China pledges to work seriously with USA ahead of Ross' visit

Chinese men pass by a ZTE building in Beijing China

Chinese men pass by a ZTE building in Beijing China

"We're putting the trade war on hold", Mnuchin told Fox News last weekend. "If the U.S.is bent on having its own way, we will surely take firm and forceful measures to safeguard our legitimate rights and interests.", said Hua Chunying of the Chinese foreign ministry.

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 White House said China's industrial policies continued to be damaging to businesses both in the United States and around the world, and claimed that this year alone it had found "dumping or unfair subsidies on 13 different products".

President Donald Trump's administration said in a statement Tuesday it planned to impose 25 percent tariffs on $50 billion of Chinese goods that contain "industrially-significant technology". Then, just today Trump said he's moving ahead with plans to impose tariffs on $50 billion of Chinese imports.

"China has consistently taken advantage of the American economy with practices that undermine fair and reciprocal trade".

The US is pushing China to remove tariffs on foreign companies and stop practices that allegedly encourage transfer of intellectual property to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market. The new rules will prevent Chinese companies from investing in and getting access to technology developed in the United States that could be copied and used by Chinese firms or the Chinese government. And while they do not include apparel and footwear, the industry is concerned about their possible inclusion on any lists extended to additional products imported from China. The official Xinhua news agency reported that Ross will visit China from June 2 to June 4.

But now the truce appears to be over.

China's commerce ministry said in a statement released hours after Trump's announcement that the move "clearly contradicts the consensus reached by China and the U.S. in Washington recently".

Details of the investment and export controls will be announced by June 30 and the final tariff list will be published by June 15.

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The White House said it will also implement "specific investment restrictions and enhanced export controls" for Chinese individuals and entities related to technology in the coming weeks.

No mention was made after the last round of talks about intellectual property protection or Washington's initial demand in March that Beijing curb its Made in China 2025 industrial policy that promotes the development of world-beating Chinese brands in high-tech manufacturing.

In response, the Chinese Ministry of Commerce said it was "surprised" by the move but at the same time "somewhat expected" it.

Pelosi said strong, smart and strategic action not reckless and rash floundering was needed to confront China's brazen trade cheating. "China urges the USA to move in the direction of the spirit of the joint communique".

On Sunday, China granted the USA first daughter's company final approval for its 13th trademark in the last three months, trademark office records show.

Beijing has already pledged to retaliate against the tariffs.

William Zarit, chairman of the American Chamber of Commerce in China, said the US threat of tariffs appeared to have been "somewhat effective".

Congressman Matt Gaetz commended Trump for taking action against China's ruthless and unfair trade practices, as well as its state-sponsored theft of American innovators' intellectual property (IP).

"The lack of clarity surrounding the administration's plans is creating significant uncertainty for American businesses, disrupting supply chains and threatening to undermine the economic gains we've seen over the past year".

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