renegadebusdallas.com
renegadebusdallas.com June 21, 2018


China issues statement on Sino-US trade talks

04 June 2018, 03:00 | Marta Robbins

China warns US that tariffs will kill any chance of trade benefits

China warns US against imposing trade sanctions as talks end

The talks were led by US Commerce secretary Wilbur Ross and Chinese Vice-Premier Liu He in Beijing.

An apparent truce was reached in Washington last month when Mr Liu said the two sides would discuss ways to enhance trade instead of slapping escalating tariffs on each other.

But a short time later China issued a statement through the Xinhua news agency, saying, "If the United States introduces trade sanctions including a tariff increase, all the economic and trade achievements negotiated by the two parties will not take effect".

Asked specifically on Fox's "Sunday Morning Futures" if the U.S.is willing to throw away its relationship with China by proceeding with threatened tariff hikes, Peter Navarro, director of the White House National Trade Council, pointed in part to an unfair relationship involving a multi-billion dollar trade deficit, Defense Secretary Jim Mattis' warning of China's activities in the South China Sea and the threat of China stealing US intellectual property.

Last week, the Trump administration then announced it would roll out duties on Chinese imports worth $50 billion, mainly from the technology sector.

China has warned that agreements to buy more American goods will be void if Washington goes ahead with sanctions and other punitive trade actions.

"Tariffs and expanding exports - the United States can't have both", the paper said.

There was no immediate response from the United States delegation or from Ross himself.

Ross left Beijing for Washington early Sunday evening.

Warriors' Thompson expected to play Game 5
The Rockets will take a 3-2 series lead back to Oakland, Calif., with a chance to close out the defending champions on Saturday. Rockets: Clint Capela had 12 points and 14 rebounds for his seventh double-double this post-season.

"It has been a tense and tough G7 - I would say it's been far more a G6 plus one than a G7", said Le Maire, who called the tariffs unjustified.

Mnuchin had said on Saturday the United States wanted China to agree to structural change to its economy.

China has promised to "significantly increase" purchases of farm goods, energy and other products and services.

China's exports have mushroomed since it joined the World Trade Organization in 2001, making it the world's second-largest economy.

U.S. Treasury Secretary Steven Mnuchin said on Saturday the United States wanted this weekend's talks to result in structural changes to China's economy, in addition to increased Chinese purchases of American goods.

"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".

Some people familiar with the matter have told Reuters that approval may depend on progress of broader talks and a reprieve from a USA government ban on sales by US companies to China's ZTE Corp, penalised for illegally supplying telecommunications gear to Iran and North Korea.

On Sunday, Chinese media reports framed the lack of concrete outcomes in the latest round of talks as Beijing's way of driving home the point that no substantial discussions can take place when the threat of tariffs looms large. Although the Chinese refused to agree to specific numerical targets that the Trump administration officials sought, the agreement to a broad framework to increase US exports to China was enough to prompt Treasury Secretary Steven Mnuchin to announce that a truce in the "trade war". Liu's delegation included China's central bank governor and commerce minister. Germany is also hoping its steel exports to the U.S. will be exempted from sanctions.



Other News

Trending Now

The Key Numbers Ahead of Warriors Vs Cavs Part 4
Curry scored a three-pointer as the Warriors opened up a one-point lead. LeBron James was a bit more straightforward with his opinion. Durant averaged 30.4 points per game over that series.

Golden Knights outlast Caps in Cup Final opener
Reilly Smith gave the Golden Knights their second lead of Game 1 when he beat Holtby 3:21 into the second period. It was the best overnight rating for a Game 1 Final since 2015 when Chicago-Tampa Bay did a 4.23 rating.

Archaeologists find man crushed while fleeing Pompeii
Officials said the man suffered an infection of the tibia, which might have caused walking difficulties, impeding his escape. The discovery has been described as "an exceptional find" by the site's general director, Massimo Osanna .

Evacuations urged in Hawaii as lava flow advances
Officials had no information on how many residents still remained in the neighborhhod or how many people might have already left. Lava flows crossed the main access road to the Puna Geothermal Venture plant and were threatening to cover several wells.

Trump to meet Abe before 'expected' Kim summit
About three weeks later, Albright made a historic reciprocal trip to Pyongyang to try to arrange a North Korea trip by Clinton. Russian Federation is the latest major nation to reach out to North Korea since Trump accepted Kim's proposal for a summit.

Games With Gold Is Getting Assassin's Creed And Indiana Jones In June
It's not racing; it's racing transformed! Race up to ten players online, or challenge your friends in four player split screen. Fully Transformable vehicles which change from auto to plane to boat mid race, each with their own unique gameplay.

Yes, the Next Pixel XL will have a Notch, Too
Both Android P smartphones are tipped to sport two front-facing cameras, similar to those seen on HTC's U12 Plus . Instead the affect of Google's phones can be more about influencing third-party handsets than anything else.

Trump Says June 12 Meeting With Kim Jong-un Is Back On
When asked about the content of the letter he received, Trump joked, asking how much money was offered for the information. Trump cancelled the on-off North Korea summit in late May, blaming the country's " tremendous anger and open hostility ".

Top North Korean official headed for NY
Kim Chang Son, Kim's de facto chief of staff, flew to Singapore via Beijing on Monday night, the report said. On Sunday, Trump tweeted that a US team had arrived in the North to make arrangements for the summit.

Fortnite appears to be coming to Nintendo Switch in new leak
Following rumors that this may be happening in the future, both Epic Games and Nintendo have been very tight-lipped about it. The game is already available on PC, Xbox One , PS4, and iOS , with an Android release happening sometime this summer.