China Says Can't Hold US Trade Talks With "Knife To The Throat"

There is no clear end in sight as the US-China trade war has ramped

The paper was released Monday shortly after US President Donald Trump slapped 10% tariffs on $200 billion worth of Chinese imports.

OIL BOOST: Oil prices continued to rise, with one benchmark hitting a four-year high, after a weekend meeting of OPEC and its allies ended with no decision to increase output despite Trump's call for lower prices. Negotiations "cannot be implemented under the threat of application of tariffs". Trump has threatened another round of tariffs, effectively covering every product the United States imports from China, if Beijing retaliates against Monday's tariffs. "We remain open to continuing discussions with China, but China must meaningfully engage on the unfair trading practices".

If talk about U.S. Industries, they are widely pushing back against the tariffs used by Trump administrations that are forcing China's economy and companies such as Gap Inc.to Walmart Inc. and Samsonite International, which are ready to raise their prices if new tariffs are imposed to the business. In August, the U.S. imposed taxes on $16 billion worth of China's exported produce, prompting China to respond with a similar measure.

"The risks are generally controllable", he said, pointing to the resilience of the Chinese economy, its vast domestic market and demand for investment, and the growing competitiveness of exporters as strengths that will help the country weather the trade war.

Beijing fired back Monday, accusing the United States of making "false accusations" and using "increasing tariffs and other means of economic intimidation in an attempt to force its own interests on China by way of extreme pressure".

Among the USA items expected to be hardest hit, according to an analysis from the Trade News Centre, are printed circuit boards, desktop computers, computer parts and metal and wooden furniture.

"History and reality have repeatedly proven that China-US economic and trade cooperation is a win-win relationship; it is not a zero-sum game", said the commentary. The new tariffs came into force on Monday with Washington pledging to raise the tax to 25 percent at the end of the year.

'How could you negotiate with someone when he puts a knife on your neck?' Wang complained at the press conference.

Defiant in the face of increasing fears about the impact to the USA economy, Mr Trump has threatened to go after 100 per cent of imports from China if the country refuses to change policies he says harm United States industry, particularly the theft of American technology.

President Trump, who has accused Beijing of exploiting the United States on trade, wants to reduce China's $375.6 billion goods trade surplus with America.

The US had invited Chinese trade negotiators to Washington to resume talks earlier this month. The price rise is notably caused by a recent drop in Iran's supply because of US sanctions.

Envoys last met August 22 in Washington but reported no progress.

In announcing the rates for the retaliatory duties last week, the government in Beijing said the tariffs would be effective as of 12:01 p.m. local time on September 24.

"It is very likely President Trump will announce the process for applying tariffs on the remainder of its goods imports from China in coming weeks with implementation in late 2018 or early 2019", the bank said.

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