Trump urges China to act on trade deal

Trump raises tariffs on $200 billion of Chinese goods, prompting Chinese warning

Trump raises tariffs on $200 billion of Chinese goods, prompting Chinese warning

According to the news agency PTI, before talks with reporters before leaving for Washington on Friday, Chinese Deputy Prime Minister Liu He said that he was optimistic, but to reach an agreement, the Trump Administration of U.S. needs to agree to abolish the penal charge (tariff) imposed on billions of dollars of Chinese products. Then, China will adhere to a restrained position, too.

On Thursday, US trade tariffs on $200 billion worth of Chinese goods were increased from 10 per cent to 25 per cent.

Vice Premier Liu He, who lead the bilateral trade talks from the Chinese side on Friday, said that Beijing is forced to retaliate against United States trade tariff increases but hopes that Washington would exercise restraint. Later, the Chinese Premier Liu He will be going to Washington to end the trade deal talks, which the world is waiting for expectantly.

With negations stalled, Trump has been portraying the trade deal as something Beijing wants much more than Washington. Federal Register said the increased tariffs will be applied to US -bound goods exported from China. Free trade had been Britain's downfall while protectionism played a large role in America's success.

In the ongoing trade talks, the USA is insisting that China change its ways and agree to let the United States check and enforce compliance. China threatened to retaliate if Trump jumped with his threat.

Some analysts say the dispute could force China to make reforms that will eventually strengthen its economy.

The US made "a fundamental misjudgement" by ratcheting up tariffs on $200bn (£154bn) of Chinese goods and has "seriously underestimated China's endurance", according to an editorial article published today by the Global Times, a government-aligned Chinese tabloid newspaper. But Yang told Al Jazeera that in the long run, the tariffs may prompt Beijing to reform areas like business regulations, labour and technology, the so-called supply side of its economy.

Chinese Foreign Ministry spokesman Geng Shuang said Thursday he'd hoped the United States could meet China halfway so the talks aren't fruitless.

President Donald Trump's increased tariffs on $200 billion in imports have been now taking effect, heightening tensions. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin shook hands with Liu as he left. China's response was sharp contrast: It quickly enacted a massive stimulus campaign that super-charged economic growth and helped pull the entire world economy out of the ditch. They discourage imports by making them costlier.

These types of firms account for about 70 percent of all jobs in the country, says Andrew Collier, managing director of Orient Capital Research, an independent macroeconomic research firm. He wrote that China would be hurt worse than the US, and also cited the soaring value of 401 (k) retirement accounts "since the bottom of the market", although much of those gains came during the Obama administration and from a decade of employee contributions.

"The relationship between President Xi and myself remains a very strong one, and conversations into the future will continue", he added. It was not clear if the second day of talks in Washington on Friday would yield any result.

"We have lost 500 Billion Dollars a year, for many years, on Crazy Trade with China". The Shanghai Composite Index rose 3.1 percent, and the Shenzhen Component Index gained 4 percent.

He likened the situation to the 19th century and Britain's preference for free trade, which he said was pursued to its detriment when countries such as the U.S. hid behind a protectionist wall of tariffs. The third is over how balanced the text of the draft agreement should be, he said. "China's domestic market could digest the supply".

US officials say they got an inkling of China's second thoughts about prior commitments in talks last week in Beijing but the backsliding became more apparent in exchanges over the weekend.

"The Americans will bear the extra costs, as it is not easy for the United States to find a substitute for Chinese goods".

"There's still a lot of anger", said Roger Jablonski, a retired 60-year-old from Royal Oak, Michigan.

"In a trade war, there are never any winners". France's CAC 40 was up 0.5 percent in morning trading. It is also why China continues to positively support the Korean peace process while condemning all suggestions that the process should regress to the methods of the past.

But it could make it harder for U.S. firms to invest in China, block mergers and acquisitions or strictly enforce safety regulations on incoming goods.

China wants tariffs lifted as soon as an agreement is reached, while US officials want to keep them as leverage to ensure compliance.

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