China urges United States to keep promise on trade issues

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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. Also on Tuesday, a White House official said the U.S.

The White House has gone back on its pledge to back down over tariffs on Chinese goods, announcing today that it will impose duties on $50bn-worth of goods.

She urged the U.S. to keep its "word and work" with China according to the spirit demonstrated in the joint announcement.

One of President Donald Trump's chief tactics in negotiations has been unpredictability. He's also made a habit of threatening unilateral action to try to gain leverage in trade disputes.

"China will continue to hold pragmatic consultations with the United States' delegation and hope that the United States will act in accordance with the spirit of the joint statement", the article read. "From now on, we expect trading relationships to be fair and to be reciprocal", said President Trump.

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Hitting back at the Trump administration's threat to impose a 25 per cent tariff on $50 billion goods imported from China, foreign ministry spokesperson Hua Chunying said, "In global relations, every flip-flop and U-turn by a country will undermine and hurt its own credibility".

It's the latest twist in a trade dispute between the USA and China that has roiled financial markets for months and prompted the International Monetary Fund to warn of a trade war that could undermine the broadest global upswing in years.

But just over a week ago Treasury Secretary Steven Mnuchin had said a trade war with China was "on hold".

But they are far from being part of a coherent chain of events following on two rounds of high-level negotiations between the two countries aimed at heading off a threatened trade war.

"Whatever measures the United States takes, China has the confidence, capability and experience to defend the interests of Chinese people and the core interests of the country", it said.

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Embracing market forces means reducing public sector dominance over many industries, opening markets to the private sector, and ensuring competition, the fund said, adding that the trade and investment remain restrictive.

The deal to reduce China's trade surplus with the US was separate from the USA probe into China's alleged theft of intellectual property. But they won't join in if they think the United States is going to suddenly shift gears and just focus on reducing the trade deficit, he said. The status of the agreement is unclear now that U.S. tariffs look set to go forward. China might want to help Ross cut a deal as a way to keep Lighthizer off the field. This could be an attempt to gain influence ahead of those talks, saidWilliam Reinsch, a senior adviser at the Center for Strategic and International Studies who also served in the Clinton administration.

Mr. Trump has often talked about challenging what he has described as China's unfair trade practices, but his advisers are deeply divided over the best course for doing so.

The announced measures also come amid bipartisan criticism of the president's softening of penalties for ZTE, a Chinese telecom company that had traded with Iran and North Korea in defiance of US sanctions.

That plan was met with fierce bipartisan resistance over the weekend. The two reportedly had an expletive-fueled shouting match in mid-May over Mnuchin's decision to talk with Chinese Vice Premier Liu He.

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