China warns Trump’s tariffs could implode trade talks

Beijing warned Sunday that it wouldn’t buy more U.S. goods or take other measures to ease trade tensions if the Trump administration follows through on plans to raise tariffs on Chinese imports. "All economic and trade outcomes of the talks will not take effect if the U.S. side imposes any trade sanctions including raising tariffs," the Chinese government said in a statement posted by state-run news agency Xinhua. The statement came as Commerce Secretary Wilbur Ross concluded two days of talks with Chinese Vice Premier Liu He in Beijing. China said the two sides had “good communication in various areas such as agriculture and energy, and have made positive and concrete progress while relevant details are yet to be confirmed by both sides." China said it is willing to increase imports of U.S. farm goods and energy exports to meet its domestic demands. But Beijing said the outcome of any talks should be based on “meeting each other halfway” and a prerequisite that the two sides won’t engage in a trade war. President Donald Trump last week ordered his administration to move ahead with imposing 25 percent tariffs on $50 billion worth of imported goods from China that include what the White House called "industrially significant" technology and products related to the "Made in China 2025" initiative. The list of targeted goods will be announced by June 15 and the added levy will be imposed shortly after, the White House said. Ross was joined in the talks by U.S. Ambassador to China Terry Branstad, Undersecretary of Treasury for International Affairs David Malpass, Undersecretary of Agriculture for Trade and Foreign Agricultural Affairs Ted McKinney, and United States Trade Representative Chief Agricultural Negotiator Ambassador Gregg Doud, the White House said in a Saturday statement. The White House did not release a statement following the conclusion of the talks. source: https://ift.tt/2xCkx7Y #Headlines by: ABehsudi@politico.com (Adam Behsudi) Original Post: https://ift.tt/2xCkx7Y https://ift.tt/2LVxixj
source: https://droolindognews.blogspot.com/2018/06/china-warns-trumps-tariffs-could.html