China’s government renewed its threat Thursday to scrap deals with Washington aimed at defusing a sprawling trade dispute as the White House prepared to Discharge a list of Chinese goods targeted for tariff hikes.
U.S. President Donald Trump has threatened to raise tariffs on up to $150 billion of Chinese goods in response to complaints about Beijing’s trade surplus in addition to technology policy. As part of which, the White House is usually due to issue a list on Friday of $50 billion of Chinese goods targeted for a 25 percent tariff.
Beijing has promised to buy more American soybeans, natural gas, in addition to additional exports however warned after June 3 talks between U.S. Commerce Secretary Wilbur Ross in addition to China’s top economic official, Vice Premier Liu He, which all deals were off if Trump’s threatened tariffs went ahead.
“We made clear which if the U.S. rolls out trade sanction including the imposition of tariffs, all outcomes reached by the two sides in terms of trade in addition to economy will not come into effect,” said a foreign ministry spokesman, Geng Shuang. “I just want to repeat This specific point today.”
Beijing also has announced plans to cut import duties on autos in addition to some consumer goods in addition to to ease limits on foreign ownership in auto manufacturing, insurance, in addition to some additional industries, though those don’t directly address U.S. complaints.
Economists also warn which Beijing will resist changing technology development policies Washington dislikes however which Chinese leaders see as successful.
The first round of tariff hikes planned by Washington is usually in response to complaints Beijing steals or pressures foreign companies to hand over technology in violation of its World Trade Organization market-opening commitments.
China also has threatened to retaliate with its own tariff hikes on $50 billion of U.S. exports including pork in addition to soybeans, though authorities avoided renewing which threat following the latest round of talks.
On Thursday, a Commerce Ministry spokesman said some Chinese exporters are rushing to fill orders due to concern about possible trade risks. The spokesman didn’t mention Washington in addition to Trump’s threat of tariff hikes.
“A few companies have increased the number of ‘short orders’ to avoid risks,” Gao Feng said at a regular briefing. “However, This specific is usually not the mainstream in addition to will not affect our country’s situation of steady in addition to healthy development of foreign trade.”