Chinese state media slam U.S. trade announcement, say Beijing ready to fight

Chinese and U.S. flags are set up for a signing ceremony during a visit by U.S. Secretary of Transportation Elaine Chao at China's Ministry of Transport in Beijing China

The trade-related actions were announced following a report by the Office of the US Trade Representative regarding China's practices with respect to technology transfer, intellectual property and innovation.

The China Daily newspaper said the repeated U.S. claim that China had forced foreign firms to transfer their technologies to Chinese businesses was without evidence and was being used as an excuse to facilitate its trade protectionism.

The White House says it will impose a 25 percent tariff on $50 billion of Chinese goods with "industrially significant technology".

"From now on, we expect trading relationships to be fair and to be reciprocal", Donald Trump said in statement. "President Trump has the courage and vision to turn that around".

The final list of items subject to the new tariffs will be released on June 15, with formal imposition of these duties occurring a few days later.

The talks, between high-level Chinese and U.S. trade representatives including Commerce Secretary Wilbur Ross, would not happen if a United States advance team in Beijing fails to reach an agreement on the broad outlines of the talks with their Chinese counterparts, the Wall Street Journal reported Wednesday.

After Beijing promised to retaliate in kind to any duties, the president raised the ante to slap tariffs on an additional $100 billion in Chinese goods.

However, the list of products imported from China on which new tariffs could apply does include machinery used in the domestic manufacturing of apparel, footwear, and textile products.

He acknowledged the USA had limited options for keeping China from developing its domestic industries, but said "what we can do is we can stop them from putting our high-tech industries out of business with the tariffs".

Pelosi said strong, smart and strategic action not reckless and rash floundering was needed to confront China's brazen trade cheating.

Either way, repeated changes to the U.S. strategy on China may only bog down talks with Beijing moving forward, Reinsch said.

They said he appears less concerned that he needs Chinese support for his proposed meeting with North Korean leader Kim Jong Un.

Members of both parties in the House and Senate slammed the agreement the Trump administration reached with ZTE Friday, in which the Chinese firm agreed to remove its management team, hire American compliance officers, and pay a fine.

The latest talks focus on United States claims of intellectual property theft by China.

The White House said the planned sanctions announced in March, largely focused on China's theft of American intellectual property, were still in the works and details would be announced in the coming month.

Wilbur Ross is scheduled to go to Beijing this weekend to continue negotiations, making his position a bit awkward, to say the least.

US Chamber of Commerce President Thomas Donohue, in an e-mailed statement, said: "We continue to believe that the use of tariffs puts all the burden on American companies and consumers".

Trump has long bemoaned the massive trade deficit with China. This investigation was done on China regarding the intellectual property practices in China.

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