Ross arrives in Beijing for talks on trade surplus

Ross arrives in Beijing for talks on trade surplus

But the truce appeared to end with this week's announcement Washington was going ahead with tariff hikes on technology goods and also would impose curbs on Chinese investment and purchases of US high-tech exports.

Neither country has implemented the tariffs yet and continued discussions to find a way out of the impasse.

China announced last week it was cutting tariffs on a range of foreign consumer items, including clothes, home appliances, seafood and healthcare goods from July 1.

"The Trump administration has taken some incredibly positive steps for the American economy, but tariffs will undercut that progress and needlessly hamstring our full economic potential", he said in a statement.

"Both sides appear to have hardened their negotiating stances and are waiting for the other side to blink", said Eswar Prasad, professor of trade policy at Cornell University.

The White House said that Trump planned to add the tariffs to combat Chinese intellectual property theft, including tariffs on exports believed to contain stolen American intellectual property.

David Perdue of Georgia, said he was not ready for Congress to intervene because, having just returned from Asia, he's confident Trump has gained China's attention and he wants to see the strategy "play out". After all, US friends like Japan and the European Union share numerous same gripes about China. "But we're also standing firm that the president is the leader on this".

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The dispute is in two largely unrelated halves: American frustration with China's overall trade surplus with the United States - a record $375.2 billion a year ago and forecast to grow - and more narrowly focused complaints about Beijing's technology policy.

Earlier, China responded with a threat to retaliate with higher duties on a $50 billion list of American goods including soybeans, small aircraft, whiskey, electric vehicles and orange juice.

No formal trade deals came out of that meeting, but China agreed last month to "significantly increase purchases of United States goods and services", according to a White House statement.

While US officials have sent conflicting signals during the dispute with China, one person familiar with planning for Ross' visit said his aim was to keep a dialogue going.

Ross, who was preceded in Beijing this week by more than 50 U.S. officials, is expected during the two-day visit to try and secure long-term purchases of United States farm and energy commodities to help shrink the USA trade deficit.

After the obvious cease-fire, global monetary markets rallied in reduction.

The two countries have threatened tit-for-tat tariffs on goods worth up to $150bn each. "The attitude of the Chinese side remains consistent".

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Ross and Liu held a working dinner Saturday ahead of their talks.

"China will carefully evaluate the US measures and relevant impact and retain its rights to adopt relative measures".

China on Sunday threatened retaliation against the USA during a round of trade talks, saying that economic and trade deals negotiated by the two countries would become "void" should Washington impose new sanctions.

Analysts suggested Mr Trump might be trying to appease critics of his administration's deal to allow Chinese telecom equipment giant ZTE Corp to stay in business.

Taking the US-initiated stringent trade moves forward Trump imposed trade tariffs on country's closest allies - Mexico, Canada, and the European Union.

President Trump's economic adviser Larry Kudlow dismissed a volley of criticism by Canadian Prime Minister Justin Trudeau as a "family quarrel" and an "overreaction".

Trump has also asked the U.S. Commerce Department to look into imposing tariffs on imported cars, trucks and auto parts, arguing that they somehow pose a threat to U.S. national security.

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