White House moves to finalize China trade sanctions

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US-China trade tensions have spiked once again after US President Donald Trump said he will proceed with a 25% tariff on US$50bn of goods imported from China.

The Trump administration will announce the final list on June 15, with the tariffs taking effect "shortly thereafter", the White House said.

Likewise, the U.S. will request that China remove all of its many trade barriers, including non-monetary trade barriers, which make it both hard and unfair to do business there, it said.

"What we need to do as a country, and the president has the courage and vision to do this, we've got to stand up to Chinese economic predation".

Now Wilbur Ross, the US commerce secretary, is planning to return to Beijing on Saturday for another round of talks in the ongoing trade and intellectual property dispute.

The Commerce Ministry's statement gave no details of possible new initiatives but promised to "conscientiously implement" the joint statement by China and the US issued May 19 in which Beijing agreed to "substantially reduce" America's trade deficit with China. The White House further stressed that discussions over the same would continue, adding that the United States was looking forward to resolving long-standing structural issues and expanding its exports by eliminating China's severe import restrictions.

"The administration also said new restrictions on Chinese investment and enhanced export controls will be announced by June 30 and then implemented shortly after".

In response, Beijing vowed to retaliate against USA exports to China with a matching value.

"Tariffs do not work - point blank", said Dean Garfield, president of the Information Technology Industry Council, which represents companies such as Apple, Google and Facebook.

Hua gave no indication of whether Beijing planned to act on its own threat to retaliate by raising duties on a $50 billion list of American goods including beef and soybeans.

Also on Tuesday, a White House official said the U.S. Adding to the confusion are divisions between Trump's trade advisors and complaints from members of Congress, who fear that the president may be stumbling into a multi-front trade war he can't win.

"I'm also thinking about what they're doing to help us with peace with North Korea".

China here on Wednesday urged the United States side to keep its promise on bilateral trade issues, and act in accordance with the spirit of recent joint statement. "The two parties should solve each other's concerns through dialogues and realise common development, so as to avoid bigger harms to the overall situation of China-US cooperation caused by the follow-up actions".

In addition to the bilateral talks with Beijing, the USA also will continue to pursue the complaints filed in the World Trade Organization as well as the cases against individual products.

Trump has moved this year to increase trade pressure on Beijing.

A list of potential tariff targets has already been published by the United States Trade Representative and it largely includes intermediate goods used by companies to make other products as well as some consumer goods like televisions.

This latest trade escalation comes after the two sides had agreed during talks in Washington in May to find ways of narrowing China's $375 billion trade surplus.

Economists estimate that U.S. exports could rise by up to $90 billion over a period of years.