China urges U.S. to keep promise on trade issues

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The United States warned on Tuesday that it will continue pursuing action on trade with China, days after a tentative solution to the dispute was announced, Reuters reports.

Trade war fears had receded after the Trump administration said it had reached a deal to put ZTE Corp back in business after banning China's second-biggest telecoms equipment maker from buying USA technology parts for seven years.

The White House also says that it will announce and impose investment restrictions and enhanced export controls on Chinese individuals and organizations, to prevent them from acquiring US technology.

Proposed investment restrictions will be announced by June 30 and also take effect at a later date.

Tariffs of 25 per cent will be applied to Chinese imports containing important technologies, including those related to Beijing's Made-in-China 2025 development program, the White House said. And also Whit house announced the date of 15 June 2018 when tariffs will be imposed on thee items. This investigation was done on China regarding the intellectual property practices in China.

After that meeting, the two sides announced that Beijing would buy significantly more USA agricultural and energy products in a bid to reduce the bilateral trade deficit, and they said they established a framework for addressing technology trade irritants.

The administration laid out a list of abusive trading actions by China - including placing high tariffs on United States goods and banning some imports - that have led to America's $375 billion trade deficit in 2017.

China retaliated by imposing additional tariffs worth about United States dollars three billion on 128 U.S. products.

In a further indication of the Trump administration striking a tougher tone before the negotiations later this week, the White House issued a separate statement running through its major grievances over China's trade practices from forced technology transfers to automobile import tariffs.

There is room to increase exports to China by selling more agricultural commodities and energy products and China has agreed in principle to import more, but the two sides do not have a firm agreement.

"We're putting the trade war on hold", Mnuchin told Fox News last weekend.

Mr Trump had already fuelled uncertainty over trade talks with China, after saying last week that any deal between Washington and Beijing would need "a different structure".

The White House said the planned sanctions announced in March, largely focused on China's theft of American intellectual property, were still in the works and details would be announced in the coming month. However, the USA has yet to publish a list of target products for the $100 billion, and the White House statement makes no reference to the second potential tranche of duties.

FILE - In this November 9, 2017 file photo, President Donald Trump and Chinese President Xi Jinping shake hands during a joint statement to members of the media Great Hall of the People in Beijing, China.

It comes as Commerce Secretary Wilbur Ross prepares to travel to Beijing this week for another round of talks aimed at resolving the conflict.

Trump has long said that China has taken advantage of the United States with unfair trade practices, including industrial subsidies and prohibitive trade barriers. "China urges the USA to move in the direction of the spirit of the joint communique".

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