Trump administration announces new tariffs on Chinese tech goods amid trade disputes

U.S. President Donald Trump speaks to members of the media before boarding Marine One while departing the White House in Washington D.C. U.S. on Friday

U.S. President Donald Trump's earlier threats of tariff hikes resulted in very intense negotiations with Beijing "in a way that we haven't seen for so many years", said William Zarit, chairman of the American Chamber of Commerce in China.

If the two sides fail to reach an agreement and the USA moves forward with tariffs, Chinese officials have said they plan to retaliate with tariffs of their own on United States exports such as soybeans.

Office of Trade and Manufacturing Policy Director Peter Navarro on the Trump administration's tariffs and trade talks with China.

The trademark approvals were dated May 7, a week before President Donald Trump extended an olive branch on ZTE in his trade tussle with China.

A foreign ministry spokeswoman complained Wednesday that the USA decision to renew a threat to raise duties on a $50 billion list of Chinese goods conflicts with an agreement in mid-May aimed at settling that dispute. But they won't join in if they think the United States is going to suddenly shift gears and just focus on reducing the trade deficit, he said.

But when Trump subsequently said he would ease penalties against ZTE in order to save Chinese jobs, this drew a sharp backlash from his supporters.

Last week, Mnuchin said that "we are putting the trade war on hold". We will consider restrictions on foreign STEM students from designated countries to ensure that intellectual property is not transferred to our competitors, while acknowledging the importance of recruiting the most advanced technical workforce to the United States. And while they do not include apparel and footwear, the industry is concerned about their possible inclusion on any lists extended to additional products imported from China.

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"If Beijing was under the impression that Trump's $50 billion of tariffs were actually on hold, they may find this confusing", Chad Bown, senior fellow at the Peterson Institute for International Economics, said.

But now the truce appears to be over.

On March 22, Trump signed a memorandum announcing that the US would take steps in protecting US IP and domestic technology from "discriminatory" trade practices, announcing plans to enforce tariffs of up to $60 billion on China.

The new investment restrictions and export controls - to be imposed on "industrially significant technology" - will be announced by June 30.

China today said the Trump adminstration is hurting its own credibility by every "flip-flop and U-turn" on trade tariffs, and warned that it does not want a trade war but will take forceful measures to defend its legitimate interests. China had promised to retaliate in a move that threatened a tit for tat trade war.

"The Chinese government will have the necessary measures in place to deal with a United States withdrawal from any settled agreement - if the USA wants to play games, then China would be more than willing to play along and do so until the very end", China's Global Times tabloid commented.

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