China Signals It Could Ease Treasury Purchases to Counter Trump

US President Donald Trump signs trade sanctions against China to retaliate against the alleged theft of American intellectual property

Earlier in March, the USA had passed an order imposing 25 percent tariffs imposed upon steel and aluminium imports claiming to stop the assault on the US.

The commerce ministry warned that a 15 percent tariff on 120 goods worth nearly Dollars 1 billion - including fresh fruit, nuts, ginseng and wine - would be imposed if the United States fails to reach a negotiated agreement.

China has urged the United States to "pull back from the brink" as U.S. President Donald Trump's plans for tariffs on up to $60 billion USA in Chinese goods, while events in the South China Sea and at the United Nations suggest a broader pattern of worsening relations. There was no explanation of the difference between that figure and Trump's $60 billion.

"If there's a trade war between the United States and China, don't blame Donald Trump: "China started it long before he became president", the daily wrote".

Persuading allies to turn away cheap Chinese steel could force China to cut down production even more than it was already planning to.

China's Ministry of Commerce blasted the USA move as underscoring "typical unilateralism and trade protectionism" and said it would take action to protect the country's interests.

"China's response should follow the principle of a precision strike", wrote Mei Xinyu, a researcher at a Commerce Ministry think-tank in an opinion piece for China Daily.

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Trump, however, appears intent on fulfilling election campaign promises to reduce China's huge trade surplus with the United States. In addition, Trump will also direct the US Treasury to propose measures that could restrict Chinese investments in the United States, Eissenstat said. A very conservative calculation, by some estimates, is that trade deficit results in about two million more jobs in China and two million less here. Shen Dingli, deputy dean of the Institute of International Affairs at Shanghai's Fudan University, said the numbers announced so far were "actually quite small" compared to overall trade flows.

The United States today dragged China to the World Trade Organisation, accusing it of unfair technology practices that run counter to the WTO rules.

"There's no trade war; it's just a trick", he said."The U.S came with trade tariffs to say it's not happy".

"We request that China immediately halt implementation and revise these measures", stated the US WTO representative. He predicted tough talks ahead.

American farmers "should be not necessarily infuriated but close to it", said Wayne Humphreys, who farms corn and soybeans and raises hogs and cattle near Columbus Junction, Iowa. Reaction from U.S. industry groups sought to strike a balance, applauding the president for tackling the persistent drain of USA technology to Chinese competitors, but urging negotiations instead of tariffs.

"Currently, we are not looking to get in a negotiation again", a senior USA official told reporters in Beijing.

However, Rosentreich adds, markets could be "overreacting" to Trump's threats to start a trade war.

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U.S. trade representatives at the WTO in Switzerland accused Beijing of altering China's import recycling rules too fast, resulting in a compromised industry that is not able to evolve and could face collapse.

White House officials said the actions came after years of efforts failed to convince China to change its behaviour.

A good bet, trade experts say, is that Mr. Trump is using the tariffs as a bargaining chip to corral allies into adopting a harder line on China.

The administration's calculation seems to be that China will back down on intellectual property theft if faced with less access to USA markets.

"While we share the Administration's commitment to levelling the playing field for American workers and businesses, the ramifications of the tariffs for U.S. agriculture are particularly troubling".

The Chinese commerce ministry says it will impose its tariffs in two stages if the USA and China fail to come to an agreement on trade issues. "Our country must stand up against China's trade blackmail, so I am encouraged that the administration is focused on protecting the technologies that China publicly targeted", Wyden said.

"It's remarkable how badly Xi Jinping has mishandled and damaged the U.S".

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The stakes are high: China is America's largest trading partner.

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