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Trump calls Biden a ílow IQ individualí over accidental 2020 announcement            China Ďto build island cityí in South China Sea, US cries foul             New Zealand PM says mosque attacker will face Ďfull force of lawí             10 Die In Flash Floods In Herat Province            New Zealand PM says received terroristís manifesto minutes before attack            ĎIf we leave Afghanistan, we will leave together with NATOí: Khalilzad             US officials confirm Afghanistanian NSA Hamdullah Mohib was summoned to State Department             Yellow vests, police clash in Paris on day of íultimatumí            Letters from Citizens to National Leaders: Endorsing Accountability for Global Peace Building at the UN General Assembly             íMuslims must not live in fear,í Omar says following massacre in New Zealand             Trump condemns massacre in New Zealand; perpetrator praises Trump            New Zealand mosque attack result of spreading Islamophobia in West: Commentator+video            Trump factor stands out in New Zealand mosque massacre            Muslim world reacts to New Zealand mosque attacks             PM: 49 killed in íterroristí attack on two mosques in New Zealand            

DATE PUBLISHED: 2018/3/22 - 08:15:10
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China pledges retaliation as Trump prepares to announce new tariffs

In a new warning to Washington, Beijing pledges tit-for-tat measures should the US choose to slap trade sanctions against China over what it calls “the theft” of American intellectual property.

Beijing “will not sit idly by and let its legitimate rights and interests be harmed,” the Chinese Commerce Ministry said on Thursday as US President Donald Trump is widely expected to unveil new tariffs on Chinese imports worth as much as up to $60 billion.

It said China “will certainly take all necessary measures to resolutely defend its legitimate rights and interests.”

White House spokesman Raj Shah said Trump will on Thursday announce actions following an “investigation into China’s state-led, market-distorting efforts to force, pressure, and steal US technologies and intellectual property.”

According to his schedule, Trump will sign “a Presidential Memorandum targeting China’s economic aggression,” fueling concerns of a trade war between the two sides.


US sanctions on China could start ‘destructive trade war’
The main US business lobby warns Trump against imposing tariffs on imports from China.

The Thursday warning came just hours after the Commerce Ministry accused the United States of “repeatedly abusing” trade practices.

The World Trade Organization had earlier ruled that Washington has not fully complied with a 2014 ruling against its anti-subsidy tariffs on various Chinese products.

Beijing’s Commerce Ministry said the ruling “proves that the US side has violated WTO rules, repeatedly abused trade remedy measures, which has seriously damaged the fair and just nature of the international trade environment, and weakened the stability of the multilateral trading system.”

Chinese Premier Li Keqiang has urged Trump to not act “emotionally.”

The US president, however, has so far shown no sign of backing down.

The top US trade official, Robert Lighthizer, said on Wednesday that retaliation from China, notably targeting US agricultural exports, would be inevitable.

United States Trade Representative (USTR) consulted multiple departments and executive branch divisions, including Commerce, Treasury, Agriculture, State, Defense, the National Security Council and the National Economic Council, to assess how China might respond.

It is not the first time the US cracks down on trade practices the president deems unfair.

Just two weeks ago, Trump announced tariffs on imports of steel and aluminum. He signed paperwork enacting tariffs of 25 percent on steel and 10 percent on aluminum during a ceremony at the White House.

His decision initially rattled financial markets, caused legal disputes and threats of retaliatory measures.

Many warned that the move would cause a deep global recession as well as a trade war.

China has repeatedly said that it does not seek a trade war but warned that it would take “firm and necessary” countermeasures if necessary.

 

LINK: http://ansarpress.com/english/9785


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