Navarro contradicts Mnuchin's assertion that trade war with China is on hold

Posted June 01, 2018

She urged the United States to "follow the spirit" of the recent consensus reached between Washington and Beijing, to abandon trade wars and back off imposing tariffs on each other. It says Beijing has the confidence, ability, and experience to safeguard its core interests.

"This is a trade dispute that we are having with China", Navarro said to Maria Bartiromo on "Mornings with Maria".

Days after USA and China reached an agreement on how to avoid a trade war and instead engage in trade enhancing measures, the White House on Tuesday announced that it will impose a hefty 25 per cent tariff on $50 billion worth of Chinese goods containing "industrially significant" technology.

China later retaliated by levying tariffs against US exports. "But it's also a signal that they are not expecting a whole lot".

President Donald Trump on Tuesday announced that tariffs on $US50 billion worth of Chinese goods would go forward despite a broad trade agreement. Trump, while demanding China to reduce the USD 375 billion by USD 100 billion retaliated with USD 50 billion tariffs on Chinese products.

China vows it will fight back if the United States goes through with plans to impose huge tariffs on Chinese goods.

The tariff will apply to products "containing industrially significant technology". Politico's profile notes that Ross, who was brought in as a trade hardliner, has been eclipsed by USTRO Robert Lighthizer, who wrote the damning report on China's intellectual property theft in March.

But now the truce appears to be over.

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"While obviously more details are needed, this outline represents the kind of actions we have needed to take for a long time, but the president must stick with it and not bargain it away", Sen.

In order to protect its national security, the U.S. administration will also implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology. And the investment and export control actions will be officially promulgated on June 30.

The White House also pledged to continue a WTO case it started in March on accusations that China's intellectual property practices violate global trade law.

Amid that revelation, Trump swooped in to the rescue, on May 15, seeking to spare ZTE from its zombie state as part of the ongoing negotiations with China over trade. "Moving forward with tariffs on goods imported from China will harm US consumers and businesses, and will fail to change China's discriminatory and damaging trade practices".

She urged the United States to keep its "word and work" with China according to the spirit demonstrated in the joint announcement.

Import tariffs for apparel, footwear and headgear, kitchen supplies and fitness products will be more than halved to 7.1 percent from 15.9 percent, with those on washing machines and refrigerators slashed to just 8 percent, from 20.5 percent now.

The American Chamber of Commerce in China (AmCham) said in a report published yesterday that its member companies are anxious that investigations into China's intellectual property practices and industrial policies could cause tensions to flare again.