China warns USA against tariffs as trade talks end

Commerce Secretary To Press China To Buy As Allies Seethe Over Tariffs

Commerce Secretary To Press China To Buy As Allies Seethe Over Tariffs

Chinese and U.S. teams, led by Chinese Vice Premier Liu He and U.S. Secretary of Commerce Wilbur Ross, hold economic and trade consultations in Beijing, capital of China, from June 2-3.

But China warned all the results were premised on "not fighting a trade war".

"All economic and trade outcomes of the talks will not take effect if the USA imposes any trade sanctions including raising tariffs". China is attempted to portray itself as defending free trade and global trading rules, although that stance is belied by China's high tariffs, subsidized exports, state-control of business, and onerous restrictions on foreign companies looking to access the Chinese market. The U.S. says China's outsized production artificially depresses global metals prices, endangering U.S. national security by undermining its domestic steel industry.

The two-day talks in Beijing which ended on Sunday followed an earlier round in Washington where officials had met to discuss the situation.

Beijing said the 2 sides had made "positive and concrete progress" on matters like increasing agricultural and energy imports but said details were left for "both sides to finalize".

The discussions are meant to ease tensions after Washington said it would follow through with tariffs on Chinese imports despite a truce reached between the two sides in the U.S. last month.

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The planned U.S. trade sanctions on Beijing include restrictions on Chinese investment, export controls and 25% tariffs on $50 billion in tech goods.

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

Ross gave no details at the start of his meeting Sunday with China's top economic official, Vice Premier Liu He.

Washington's negotiating stance in the trade talks with Beijing has shifted as Trump's team of hardliners and more mainstream advisors compete to push their views. China's willingness to buy more American products and allow United States investments with IPR protections raised hopes of an agreement, which led to current round of talks in Beijing.

At a heated meeting in the Canadian ski resort of Whistler, the European Union and Canada threatened to retaliate against tariffs of 25% on steel and 10% on aluminium, whose implementation Mr Ross announced on Thursday. "This is about structural changes", Mnuchin said Saturday.

"Tariffs and expanding exports - the United States can't have both", it said.

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China too threatened a tit-for-tat retaliation but blinked in the end with a categorical undertaking to import more goods from the USA, sparking off concerns over the likely trade war between the two countries.

Mnuchin had said on Saturday the USA wanted China to agree to structural change to its economy.

The Trump administration aimed for a possible trade truce with China on Saturday while threatening consequences if Beijing's "militarization" of the South China Sea continues.

Other officials and technical experts from the Department of Commerce, Department of Treasury, United States Trade Representative, Department of Agriculture, and Department of Energy also took part, the White House said. Mr Liu's delegation included China's central bank governor and commerce minister. He also pushed back against the argument that Canadian steel poses a US security threat.

Trade analysts feared that decision might alienate allies who share complaints about Chinese technology policy and a flood of low-cost steel, aluminum and other exports they say are the result of improper subsidies and hurt foreign competitors.

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