China warns U.S. trade deals off if tariffs go ahead

Commerce Secretary Wilbur Ross hints a trade war could be the result of new EU privacy laws given that the regulations include'unnecessary barriers to trade. If that happens it would be an additional front in a global trade war the President Donald Trum

China warns U.S. trade deals off if tariffs go ahead

China has warned that the United States that the outcome of trade talks will be void if Washington imposes trade sanctions including tariffs on Chinese goods, state media reported Sunday quoting a government statement issued at the end of two-day high-level talks between Chinese and usa trade officials.

Ross was accompanied by agricultural, treasury and trade officials.

"If the United States introduces trade sanctions including a tariff increase, all the economic and trade achievements negotiated by the two parties will not take effect", the Chinese government said in a statement to Xinhua state news agency Sunday, The Associated Press reported.

The statement was made in the light of the yet another round of US-Chinese trade talks, which began on Saturday and continued through Sunday.

Commerce Secretary Wilbur Ross leaves a hotel ahead of trade talks with Chinese officials in Beijing, June 2, 2018.

Ross said at the start of the event they had discussed specific American exports China might purchase, but the talks ended with no joint statement and neither side released details.

China said commitments to buy more American goods would not happen if President Donald Trump carried through on plans revised last week for $50 billion in tariffs on Chinese products.

He said Washington would use its move on Tuesday to slap punitive tariffs on Chinese imports as a bargaining chip.

The United States and China have threatened tit-for-tat tariffs on goods worth up to $150 billion each.Xinhua said China's attitude has been consistent, which is that it is willing to increase imports from all countries, including the United States.

Fiat Chrysler CEO lays out grand plan before he retires
FCA said it is targeting annual sales of 400,000 for the sporty Alfa Romeo brand in 2022, up from the 170,000 expected this year. Marchionne is famous for unfailingly wearing navy blue cashmere sweaters and never a tie, no matter the event.

The purchases are partly aimed at shrinking the $375bn USA goods trade deficit with China.

Treasury Secretary Steven Mnuchin said Saturday the US wants to see "structural changes" in the Chinese economy. Still, Beijing resisted pressure to commit to a specific target of narrowing its annual surplus with the United States by $200 billion.

There was no immediate comment from the United States delegation.

Trade analysts feared that decision might alienate allies who share complaints about Chinese technology policy and a flood of low-cost steel, aluminum and other exports they say are the result of improper subsidies and hurt foreign competitors.

Before Ross arrived with his team for the two-day talks, the U.S. and China had threatened tit-for-tat tariffs on goods worth up to $150 billion each.

China's delegation included central bank governor Yi Gang, commerce minister Zhong Shan, and Ning Jizhe, a deputy head of the powerful planning body the National Development and Reform Commission.

The US pressure over technology policy reflects growing American concern about China's status as a potential competitor and complaints Beijing improperly subsidizes its fledgling industries and shields them from competition.

Ross had a working dinner Saturday evening with Liu, also at the same guesthouse in Beijing.

At the center of the row was the White House's decision to slap tariffs on steel and aluminum produced by key USA allies in the European Union and Canada.

Latest News