China Says U.S. Trade Pressure Won’t Work

China Says U.S. Trade Pressure Won’t Work

China's top envoy called on the United States to remain "cool-headed" Thursday as Washington threatened to raise the tariff rate on the next $200 billion of Chinese imports.

Trump set his sights on China during the 2016 presidential campaign and has followed through during his presidency with a protectionist strategy that he says is aimed at strengthening US companies and boosting jobs at home.

The U.S. has said a second round on 16 billion dollars in Chinese imports could be implemented soon.

While a trade dispute is obviously not comparable to a shooting war, the current U.S.

Trump, who has accused China and others of exploiting the United States in global trade, has demanded that Beijing make a host of concessions to avoid the new duties, which could be imposed in the weeks after a comment period closes on September 5.

The Chinese government has warned that the country will retaliate with trade restrictions of equal measure if Trump follows through on the threat.

The administration announced last month it will provide up to $12 billion in relief for farmers who are losing money due to the trade battles.

China's Foreign Ministry spokesperson Geng Shuang said at a press briefing that President Trump's threats at "blackmail" would fail.

China has not accepted outreach from a number of high-level Trump administration officials seeking to restart stalled trade talks in recent weeks.

China has already warned it would retaliate if the U.S. went ahead with the plan, accusing Washington of blackmail.

Officials have cautioned that a specific timetable, the issues to be discussed and the format for talks aren't finalized, but added there was agreement among the principals that more discussions need to take place.

The administration is considering more than doubling planned tariffs on $200 billion in Chinese imports, people familiar with the deliberations told Bloomberg. "Counterintelligence officers say the duo's banking activity could provide a road map of back channels to powerful American entities such as the National Rifle Association, and information about the Kremlin's attempt to sway the 2016 US presidential election".

The news about tariffs for China appeared shortly before the start of the negotiations round between the major world economies.

The Chinese have already proposed buying more USA goods in order to settle the dispute, only to have the White House-which wants to win a broader argument about intellectual property and subsidies-reject the proposal. Since then there have been no meaningful contacts between the two sides. After Liu visited Washington later that month, the nations released a joint statement pledging to reduce the USA trade deficit with China, among other things.

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