China warns United States against trade sanctions as talks end

Adjust Comment Print

Ross gave no details at the start of his meeting with China's top economic official, Vice Premier Liu He, at the Diaoyutai State Guesthouse.

Last week the White House announced it would impose curbs on Chinese investment and purchases of USA high-tech goods and on visas for Chinese students. Last month, they held talks in Washington and put out a joint statement.

Xinhua said China's attitude had been consistent and that it was willing to increase imports from all countries, including the United States.

Instead, China issued its own statement that both praised the negotiations for making "concrete progress" while threatening to abandon the earlier promises of increasing imports from the retaliation for tariffs.

"Reform and opening-up as well as expanding domestic demand are China's national strategies".

But Beijing warned all the results were premised on "not fighting a trade war".

"If the USA launches trade sanction measures, including the imposition of tariffs, then all the economic and trade benefits negotiated by both sides are not going to take effect".

Yum! Where to get free doughnuts, deals on National Doughnut Day
It started 80 years ago by The Salvation Army to honor "Doughnut Lassies", who served the treats to soldiers during World War I. Koala Kolache: is introducing mochi donuts to Houston and will offer a free glazed mochi donut on National Donut Day.

Mr Trump has threatened to raise tariffs on a total of up to $US150 billion ($198 billion) of Chinese goods.

In the U.S., China hawks have been wary of the deal that Secretary Ross pursued in Beijing.

On May 19, China had pledged to import more from America was an to reduce its $375 billion trade surplus in goods with the United States.

China is maneuvering to take advantage of rebukes from USA allies following the Trump administration's decision to slap tariffs on steel and aluminum imported from Canada, Mexico, and European Union.

"Our meetings so far have been friendly and frank, and covered some useful topics about specific export items", Ross said.

Wilbur Ross sounded upbeat on Sunday after having dinner the previous evening with China's Vice-Premier Liu He.

Mnuchin had said on Saturday the USA wanted China to agree to structural change to its economy. Discussions centered on getting China to carry out recent promises to buy more American farm and energy products.

Russian crude oil output stagnant but remains above quotas in May
It has doubled in less than a month, as a lack of pipeline capacity in the U.S. has trapped a lot of output inland. West Texas Intermediate and international-benchmark Brent crude oil futures are trading lower early Monday.

As the trade dispute threatened to blow up into a full scale "war", US Treasury Secretary Steven Mnuchin came under fire from the European Union at the Group of Seven, or G7, meeting of finance leaders in the Canadian ski resort of Whistler.

The warning came after the latest round of trade talks ended inconclusively in Beijing.

"But I also fundamentally believe that if there are structural changes that allow our companies to compete fairly, by definition, that will deal with the trade deficit alone".

The U.S. team had also wanted to secure greater intellectual property protection and an end to Chinese subsidies that have contributed to overproduction of steel and aluminum.

On Saturday, Trump weighed in on the trade situation with other countries.

Trade analysts had warned Ross's hand might be weakened if the Trump administration alienated allies who share complaints about Chinese technology policy and a flood of low-cost steel, aluminum and other exports.

Trump Announces Pardon for Racist Right-Wing Propagandist D'Souza
D'Souza then pleaded guilty to one count of making illegal contributions in the names of others. D'Souza accepted responsibility for his actions", it said.