New US tariffs go against bilateral agreement: China
Beijing, May 30: The imposition of 25 per cent tariffs on certain Chinese products with industrially significant technology announced by the US goes against the consensus reached by both parties during the negotiations held to avoid a trade war, China said on Wednesday.
The Chinese Ministry of Commerce acknowledged in a statement that the announcement of the tariffs came as a surprise but at the same time was within expectations, and urged Washington to act in accordance with the spirit of the recent bilateral agreement, Efe reported. US President Donald Trump’s administration on Tuesday announced that it will impose a 25 per cent tariff on Chinese imports containing industrially significant technology that Washington considers in violation of intellectual property regulations. The Ministry warned that whatever measures are taken by the US, China has the confidence, capacity and experience to defend the interests of the Chinese people and the fundamental interests of the country.
The announcement of these tariffs comes 10 days after US Treasury Secretary Steven Mnuchin confirmed that the trade war with Beijing had been suspended after a series of talks in Washington with a high-level Chinese delegation led by Liu He, chief economic adviser to Chinese President Xi Jinping. The tension between the two global powers is growing ahead of a planned visit to Beijing by US Secretary of Commerce Wilbur Ross this weekend with the aim of continuing negotiations on tariffs and trade. (IANS)