China says reserves right to retaliate to USA actions against its investments

Javier Stokes
June 3, 2018

White House trade adviser Peter Navarro criticized Treasury Secretary Steve Mnuchin for declaring recently that the U.S.

On May 29, the White House announced a series of new actions against China regarding "technology technology transfer, intellectual property, and innovation", as a follow-up step to protect USA domestic technology and intellectual property.

Earlier this month, the USA and China agreed to halt their trade war, however, this agreement now appears to be defunct. "China will surely take resolute and powerful steps to safeguard its legitimate rights if the US insists on acting recklessly". He's also made a habit of threatening unilateral action to try to gain leverage in trade disputes.

In retaliation, China threatened to impose a 25 percent tariff on Dollars 50 billion worth of United States exports.

An American business group has appealed to China to allow more access to its state-dominated economy ahead of a visit by U.S. Commerce Secretary Wilbur Ross for trade talks.

In a statement, China's Commerce Ministry called on the USA to act in the spirit of earlier joint comments.

Investors monitor stock prices at a securities company in Shanghai, May 30.

Digital savant Omar Gallaga of the Austin American-Statesman's 512 Tech says ZTE isn't a major player in the USA phone market, though it is a large company that has stolen US technology. China "will carefully evaluate the U.S. measures and reserves the right to take corresponding measures", Gao said. China did reduce its unweighted average tariff from 35 percent in 1995 to about 12 percent in 2002, but since then progress has been more halting, and its current average of 10 percent is far higher than the United States' average of 3.5 percent.

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While China's near 30m pa auto market is mainly met by local production and joint ventures, it still imported over 1.2m vehicles previous year. Ross is expected to try to get China to agree to firm numbers to buy more U.S. goods during a June 2-4 visit to the Chinese capital.

Hua gave no indication of whether Beijing planned to act on its own threat to retaliate by raising duties on a $50 billion list of American goods including beef and soybeans.

She also cited trade deals that the European Union is negotiating with several countries including Mexico - which was also hit by the new tariffs.

During the media briefing, the Foreign Ministry spokesperson also expressed concern over reports that the planning to restrict visas of Chinese students studying advanced subjects like robotics, aviation and high-tech manufacturing to one year.

"People to people exchanges constitutes important foundation in global relations", Hua said.

"The door for negotiation and discussion remains open", Hua said.

Over 1.65 lakh Indian students enrolled in USA universities in 2016.

"It's hard to say, but I think both scenarios are likely".

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