Global News

China warns U.S. against tariffs as trade talks end

China warns U.S. against tariffs as trade talks end

China on Sunday threatened retaliation against the US during a round of trade talks, saying that economic and trade deals negotiated by the two countries would become "void" should Washington impose new sanctions.

China has warned that the United States that the outcome of trade talks will be void if Washington imposes trade sanctions including tariffs on Chinese goods, state media reported Sunday quoting a government statement issued at the end of two-day high-level talks between Chinese and usa trade officials.

"The two sides had good communication about implementing the consensus reached in Washington and on many areas such as agriculture and energy, achieving positive and concrete progress", the state news agency said, adding details would be subject to "final confirmation by both parties".

"To meet the people's ever-growing needs for a better life and the requirements of high-quality economic development, China is willing to increase imports from other countries, including the United States, which will benefit people of both countries and the rest of the world", the statement said.

Earlier, Mnuchin had pointed to a rocky road ahead for the United States, which is now embroiled in trade disputes on two fronts, after talking about Washington's China policy.

He spoke to reporters with Chinese Vice Premier Liu He, the top economic adviser to President Xi Jinping.

The statement was released following the conclusion of talks between U.S. Commerce Secretary Wilbur Ross and Chinese Vice Premier Liu He.

Mr Trump has threatened to raise tariffs on a total of up to $US150 billion ($198 billion) of Chinese goods.

"Reform and opening up and expanding domestic demand are China's national strategies".

"Our meetings so far have been friendly and frank, and covered some useful topics about specific export items", Ross said.

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Treasury Secretary Steven Mnuchin, who announced the tariff truce with China, said at the G7 summit in Canada that the United States was pushing for "structural changes" to the Chinese economy.

"If the USA side imposes trade restrictions, including high tariffs, then all trade agreements reached as result of talks will have no binding force", the statement read.

The purchases are partly aimed at shrinking the $375bn United States goods trade deficit with China.

The US delegation at the Beijing talks included under secretary of treasury for worldwide affairs David Malpass, under secretary of agriculture for trade and foreign agricultural affairs Ted McKinney, and United States trade representative chief agricultural negotiator Gregg Doud.

"The White House's tariff announcement on May 29 was just part of the negotiations for Wilbur Ross' visit to Beijing as they try to clinch deals that favour the U.S.", he said.

Ross had been expected to seek clear commitments from Beijing to boost Chinese imports of USA products in areas such as energy and agriculture.

"[The move] targets America's allies when we should be working with them to address the unfair trading practices of countries like China", he told the USA media.

The visit comes as fears of an all-out global trade war intensified after the European Union, Canada and Mexico drew up retaliatory measures to Washington's stinging steel and aluminium tariffs that came into effect on Friday.

"But I also fundamentally believe that if there are structural changes that allow our companies to compete fairly, by definition, that will deal with the trade deficit alone".

The two countries have threatened tit-for-tat tariffs on goods worth up to $150bn each.


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