United States to impose limits on some Chinese visas
30 May, 2018, 17:16 | Author: Edward Snyder
President Trump signed a memorandum in late March announcing the administration would take steps to protect domestic technology and intellectual property from China's "discriminatory and burdensome" trade practices. But the US has yet to publish a list of targeted products for the $100 billion, and the White House statement on Tuesday made no reference to the second potential tranche of duties. The Ministry said the White House's announcement "is contrary to the consensus the two sides have previously reached", according to China's official news agency, Xinhua.
"The Trump administration's move to impose a hefty 25 per cent tariff on the United States dollars 50 billion worth of Chinese goods and tighten its noose against China's alleged theft of US" intellectual property rights will have an adverse impact on American consumers, industry leaders and lawmakers have warned.
The White House also says the United States is planning new investment restrictions and export controls.
It was yet another apparent change of course for Trump, who veers from harsh threats to promises of compromise and back again on trade and other more sensitive issues.
Trump has bemoaned the massive USA trade deficit with China - $337 billion past year - as evidence that Beijing has been complicit in abusive trading practices.
"China's trade practices raise serious concerns but job-killing tariffs aren't the answer", the statement said.
Pang Zhongying, a professor of global relations at Ocean University of China, said that while the White House's announcement was probably made with one eye on the midterm polls, it was a clear reminder that the trade dispute was still very much alive.
Washington will also press ahead with restrictions on investment by Chinese companies in the United States as well as export controls for goods exported to China, the statement from the White House said. President Donald Trump's plan to push ahead with tariffs on $50 billion of Chinese imports despite a recent truce in the trade fight, saying it damages America's standing.
Details of the investment and export controls will be announced by June 30 and the final tariff list will be published by June 15. Last year, Ivanka Trump's business was granted preliminary approval for three trademarks the same day she had dinner with Xi at Mar-a-Lago.
"We're putting the trade war on hold", Mnuchin said at the close of those meetings on May 20.
U.S. Chamber of Commerce President Thomas Donohue said using tariffs against China "puts all the burden on American companies and consumers".
Given ZTE's dependency on USA technology, his actions brought the Chinese company to the brink of bankruptcy, forcing Xi Jinping to plead for Trump's mercy. Bloomberg had reported that "a potential bill to prohibit ZTE Corp. and other Chinese telecommunications companies from operating in the US would have supermajority support in Congress, Republican Senator Marco Rubio said".
They added the products included on the list are related to the "Made in China 2025" program, . a 2015 initiative promoting China's information technology, robotics, aerospace, marine, rail, auto, power, agriculture and bio-medical industries.
USA warships on Sunday cruised by two disputed islands in the South China Sea in a planned exercise, Reuters reported. China has territorial claims to about 90 percent of the South China Sea, which has put it at odds with its neighbors.
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