China 'not afraid' of a trade war, threatens United States with tariffs

EU, Brazil, South Korea and others get temporary exemptions from Trump's steel tariffs

The administration argues that the increased tariffs are meant to punish Beijing for what it said are unfair trade practices, including theft of US intellectual property. Beijing is planning retaliatory measures calibrated to be proportionate to the US actions, not to escalate the fight, people familiar with the plans have said.

USA apple growers just got their foot in the door in China in 2015, and the country is now their 10th-largest market, with demand growing.

The pledge on reform and equal treatment came from Vice Premier Han Zheng, at a time there are increasing prospects of a trade war with the United States.

President Donald Trump has threatened to impose the tariffs in retaliation for China's disregard for US intellectual property.

"I have determined that the necessary and appropriate means to address the threat to the national security posed by imports of steel articles from these countries is to continue ongoing discussions and to increase strategic partnerships, including those with respect to reducing global excess capacity in steel production by addressing its root causes", Trump wrote in the second proclamation, on steel imports.

In a separate case, he also ordered tariffs on about $60 billion of Chinese goods, again bypassing WTO arbitration. The idea is to go after Beijing for stealing American technology and pressuring US companies to hand it over.

China urged the United States on Friday to "pull back from the brink" as President Donald Trump´s plans for tariffs on up to $60 billion in Chinese goods moved the world´s two largest economies closer to a trade war.

Usually, a country would file a complaint through the WTO to have another country rein in their industry.

Canada and Mexico had already been given a pass, and the USA is trying to renegotiate the North American Free Trade Agreement with its neighbors to the north and south. It's exactly to settle this kind of dispute.

"Actions taken outside these collective processes greatly increase the risk of escalation in a confrontation that will have no winners", he said.

Terming Beijing as its efforts to steal "intellectual property" from American companies, President Trump signed a memorandum directing the Office of the US Trade Representative (USTR) and the US Treasury Department to launch a "broad range of actions" against China.

The impact on other American companies would be widespread, fanning out across the US because of the intricate links with global supply chains. He said other worldwide efforts have failed: "So you try to make it expensive for China to have excess capacity - that's what we're trying to do..." Samsonite executives say it manufactures two-thirds of its products in China and now pays a tariff of more than 25 percent on them to the U.S.

Low cost Chinese manufacturing capabilities have kept prices low, but China could threaten to impose more tariffs on goods we import from China.

Trump said Friday that he was not concerned that the tariffs would be a drag on the stock market.

In a world where all economies are closely interdependent, and the US move will also affect Germany and the European Union as a outcome, Wansleben added. However, one person said yesterday's decision reflects a years-long buildup of tensions and aggravation about a lopsided playing field in U.S.

China pledged on Sunday to press ahead with market opening and reforms while reiterating that it will treat domestic and foreign firms equally and protect intellectual property rights.

But while the USA government's move on steel and aluminum weakens the WTO, its complaint against China's technology-poaching suggests it may yet rely on the body when convenient. The country has hinted that soybeans - the largest US agricultural export - are a likely next target.

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