Published: Sun, March 25, 2018
Life&Culture | By Ben Goodman

United States and China clash at United Nations over Beijing's proposed resolution

United States and China clash at United Nations over Beijing's proposed resolution

In justifying the tariffs, Washington said a review of alleged Chinese intellectual property and technology transfer practices, launched by the Trump administration in August 2017, had found a range of "unfair" practices in China, including restrictions on foreign ownership that forced foreign companies to transfer technology.

On March 23, the US President imposed massive trade tariffs amounting to Dollars 60 billion on China, in an effort to stop the latter from stealing "intellectual property" from American companies.

The U.S. tariffs aimed at China's intellectual property policies follow two other major trade actions by Trump, with worldwide tariffs on solar panels and on steel and aluminium.

"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 US President claims China has for years engaged in unfair trade practices that have hurt US firms. But in a sign that he will still turn to the WTO when it suits his interests, Trump had his government file a complaint through the organization to try to stop China from allegedly stealing technology from USA companies that operate there.

"China doesn't hope to be in a trade war, but is not afraid of engaging in one", the Chinese commerce ministry responded in a statement.

The section authorizes the US government to investigate trade practices by foreign countries that "burden, restrict, or discriminate against United States commerce".

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The suspected vehicle bomb, which also wounded at least four people, targeted the motorcade, the source said. Prosecutor General Nabil Sadek ordered an "urgent and wide inquiry".

In a presidential memorandum signed by Trump yesterday, there will be a 30-day consultation period that only starts once a list of Chinese goods is published. A probe was launched past year under Section 301 of the 1974 US Trade Act.

"There is genuine systemic risk", said Joseph Francois, the managing director of the World Trade Institute at the University of Bern, Switzerland.

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

China's commerce ministry warned it could impose tariffs on USA pork, fresh fruit, nuts, ginseng, wine and aluminium scrap if a negotiated agreement could not be reached. He has shown few signs of acquiescing to US pressure.

Instead, the Trump administration wants Chinese leaders to address more basic structural issues that interfere with market forces, said the official. -China relations and the global economy are likely to remain in a state of uncertainty over the next 12 to 18 months.

Mr. Xi "has spent the past few years cultivating the image of a strongman, and it would be very surprising if he were not to retaliate", Ian Shepherdson, chief economist with Pantheon Macroeconomics, said in a client note.

If there is a trade war, the first shots were fired by China many years ago, US officials say, and it is Beijing that has long "gamed" the rules of the World Trade Organization for its own benefit. -China trade will raise operating costs, and tech companies could even face retaliation for doing business in China.

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