China warns of imposing Dollars 3 bn trade tariffs on US

China eyes measures against US imports to balance tariffs on steel, aluminium

The Trump administration already poked China in January with tariffs on imported solar panels.

Following a memorandum from President Trump, on August 18, 2017, the US Trade Representative initiated an investigation under Section 301 of the Trade Act of 1974 into the government of China's acts, policies, and practices related to technology transfer, intellectual property, and innovation.

"Trump left enough flexibility in how that $50 billion is calculated that he has room to make some headway with China even if the USA ultimately does impose some tariffs", said Height Capital analyst Clayton Allen in an email.

"Reports indicate that "apparel" and "textiles" will be on the list, but there has been nothing more specific than that to date", HPFA counsel Robert Leo noted in an email to association members yesterday afternoon.

The Retail Industry Leaders Association (RILA) and the Information Technology Industry Council (ITI) say the tariffs punish American consumers and businesses more than China. Trump also asked the Treasury Department to impose restrictions on Chinese investment in American companies.

The US claims under the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) relate to China's discrimination against foreign intellectual property rights holders (Article 3) and failure to ensure patent rights for foreign patent holders (Article 28).

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

There is a chance select product categories could get exempted from the tariffs.

But while the US 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.

Chinese citizens took to social media to register their backing for a resolute response to Mr Trump's package of tariffs. He said Trump and Xi agreed a year ago on a 100-day agenda of trade-liberalization measures but Beijing failed to act on about half of them.

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

China had warned the United States on Friday that it was "not afraid of a trade war" as it threatened tariffs on $3 billion worth of U.S. goods in retaliation.

The tensions reflect the dueling nationalistic ambitions of Trump and his Chinese counterpart, Xi Jinping. He has shown few signs of acquiescing to US pressure.

The country could also take further measures, such as targeting USA agriculture - 60 percent of U.S. soya beans are sold to China. But officials say they are determined to press ahead with what one called "a long-overdue attempt to rectify what for a very, very long time has been a very imbalanced commercial relationship".

The spokesman of the Chineses ministry of commerce said in Beijing today that althoiugh China does not want to indulge in any trade war with the United States but it is fully prepared to defend its interests. -China trade war ranked as the most-read topic on Friday.

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