United States will crack down on all countries trying to steal its technology

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US Treasury Secretary Steven Mnuchin denied the reports by Bloomberg and The Journal as "false, fake news". Statement will be out not specific to China, but to all countries that are trying to steal our technology.

A Chinese woman adjusts a Chinese national flag next to US national flags before a Strategic Dialogue expanded meeting, part of the U.S.

U.S. stocks on Monday briefly fell more than 2 percent from Friday's close and senior White House economic adviser Peter Navarro appeared on television to try to calm investor fears about a possible trade war.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 25, 2018. Amazon shares fell more than 3.5%, while shares of Google and Facebook fell 3.67% and 3.77%, respectively.

The recent imposition of import tariffs by the US, and counter-measures by other countries, are also starting to affect global production and supply chains.

China and the European Union will exchange offers related to market access at an upcoming summit in July, Liu said on Monday.

Last Monday, President Donald Trump said he asked the United States trade representative to identify an additional $200 billion worth of Chinese goods for a 10 per cent tariff.

The European Union and China are teaming up to rewrite global trade rules, their latest move as part of the trade conflict President Donald Trump has launched as part of his "America First" agenda.

USA and Canadian stocks suffered their worst one-day decline in several months on Monday, amid rising global trade tensions and their potential impact on the world economy.

Investors were on guard for further escalation of trade hostilities between the U.S. and China.

"The market is perceiving that politics will become policy", said Brian Battle of Performance Trust Capital Partners in Chicago.

The beef ban was imposed over a decade ago as Beijing started closing off its markets to all European imports, and later to USA beef imports, in the wake of the "mad cow" disease scare. "The rhetoric is getting stronger rather than weaker".

The pushback took the form of Brussels and Beijing agreeing to form a group inside the World Trade Organization (WTO) dedicated to rewriting the global rules on subsidies and tech policy in the light of Trump's actions. "It's bad for growth", he said.

In addition, the National Security Council and the Commerce Department are putting together plans for "enhanced" export controls, created to keep such technologies from being shipped to China, said the people familiar with the proposals. The administration could expand the existing authority of the Committee on Foreign Investment in the United States, or CFIUS, which is led by the Treasury and which already has blocked Chinese investments, in ports and semiconductors.

Meanwhile, later this week, the Treasury Department is due to unveil a proposal on investment and export restrictions.

Export controls, on the other hand, are the purview of the U.S. Commerce Department and the National Security Council.

The administration could declare an economic emergency, or IEEPA, to justify the restrictions, according to the report.

The comments put pressure on markets, but they climbed back from earlier lows after White House trade adviser Peter Navarro later told CNBC that there was "absolutely nothing on the table" with respect to other countries.

Policymakers in China moved quickly to temper any potential economic drag from Beijing's dispute with the United States.