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White House approves $50 billion of China tariffs in surprise move

White House approves $50 billion of China tariffs in surprise move

The Trump administration will also move to restrict USA investments and the export of certain US technology to China in what the White House portrayed as an effort to protect national security. Trump is using trade negotiations to recoup the losses.

US Treasury Secretary Steven Mnuchin said the Trump administration had put on hold its plan for punitive trade tariffs against China while the two parties tried to implement the framework agreement.

The announcement came after President Donald Trump made a decision to move ahead with additional tariffs on $50 billion of imports from China, a move that could potentially derail the truce reached last week between the world's two biggest economies.

The Chinese Commerce Ministry said the move breached the recent consensus reached between Washington and Beijing.

The United States and China have been tied-up in a constant bilateral trade war.

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I'm anxious about all the people out there who don't have a circle of friends and followers who come right to their defense". A few hours after Barr's tweet, Wanda Sykes, a consulting producer on the Roseanne show, tweeted she will not be returning.

The Trump administration plans to shorten the length of validity for some visas issued to Chinese citizens, the State Department said today, as President Donald Trump works to counter alleged theft of USA intellectual property by Beijing.

Details of the final tariff list of $50bn of imports to the U.S. will be published by 15 June, with investment and export controls to be announced by 30 June.

China and the United States averted a trade war by reaching an agreement on May 20 under which Beijing agreed to "significantly increase" its purchases of American goods and services to reduce USD 375 billion trade deficit with Washington.

"For instance the United States charges a 2.5 percent tariff on Chinese cars, while China now maintains a 25 percent tariff on cars from the United States", the White House said.

"Those exports are precisely the exports in the China 2025 industries.", said Peter Navarro the White House Director of Trade and Industrial Policy.

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Currently, he said yesterday, Canada is losing US$11.56 billion ( C$15 billion ) annually because of the pipeline constraint. Trudeau's commitments to reconciliation with Indigenous peoples are coming to an unavoidable conflict with this pipeline.

U.S. Commerce Secretary Wilbur Ross is scheduled to visit China on Saturday to negotiate the details of that agreement.

A list of potential tariff targets has already been published by the United States trade representative, which mainly includes intermediate goods used by companies to make other products as well as some consumer goods such as televisions.

The National Retail Federation on Tuesday said it was "disappointed" with the new White House communications, saying the tariffs would raise prices, kill jobs and spur costly retaliation.

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.

"The lack of clarity surrounding the administration's plans is creating significant uncertainty for American businesses, disrupting supply chains and threatening to undermine the economic gains we've seen over the past year". The White House repeated it will slap a hefty 25 per cent tariff on as much as $50bn worth of imports. The dispute was initiated in March over Beijing's "discriminatory technology licensing requirements", the White House said.

OSU baseball: Cowboys named No. 3 seed in DeLand Regional
This marks the third-consecutive season that that Texas Tech has been selected as an NCAA Regional host. The Pirates are the No. 12 overall seed, matched against the victor of the Arkansas regional.

In return, the Commerce Department lifted a seven-year ban on ZTE's purchase of US components that it had just imposed earlier in May.


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