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Beijing threatens Washington to scrap trade agreements if sanctions are imposed


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Beijing threatens Washington to scrap trade agreements if sanctions are imposed

Post by rocky on Sun 03 Jun 2018, 2:29 pm

Beijing threatens Washington to scrap trade agreements if sanctions are imposed

15:35 - 03/06/2018

Information / Baghdad ...
BEIJING (Reuters) - Chinese authorities on Sunday threatened to scrap trade agreements between the two countries if Washington imposed trade sanctions on Chinese goods, including an increase in import tariffs, which the US administration has decided to implement two months ago.
This came in a statement issued after the last meeting in a series of meetings held by representatives of the two countries in order to avoid a "trade war", led the meeting from the US side, the Minister of Commerce, Wilbur Ross, and from the Chinese side, Deputy Prime Minister Liu Hee.
The aim of the meeting was to narrow the large trade gap between the two countries, where China has a very large surplus at the expense of the United States of mutual trade.
China and Beijing have made significant and positive progress, the official Xinhua news agency said, quoting a statement from the Chinese side, adding that the process should be "based on the principle that the two sides will not engage in a trade war."
"If the United States applies trade sanctions, including tariff increases (on Chinese goods), all the results of the trade talks will be null and void," the statement said.
There has been no response from the US side to the statement until now.
The White House, led by President Donald Trump, renewed its threat on Tuesday to impose a tariff increase on the $ 50 billion of goods imported from China that contain technology of industrial interest.
The meeting was held despite US threats, but Beijing said it would reserve the right to respond, according to the Associated Press.
The White House is demanding that the deficit be reduced by nearly $ 200 billion with the Asian giant. The US trade deficit with China last year was about $ 375 billion.
Last April, Washington published a list of 1,300 Chinese products with an additional 25 per cent duty.
In contrast, Beijing decided to impose 25 percent customs duties on 106 US products in response to the action taken by Washington. End 25 T

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