China vows to protect its interests from "reckless" U.S. trade threats

Gao Feng a spokesman for China's Ministry of Commerce addresses reporters in Beijing

Import tariffs for apparel, footwear and headgear, kitchen supplies and fitness products will be more than halved to 7.1 percent from 15.9 percent, with those on washing machines and refrigerators slashed to just 8 percent, from 20.5 percent now.

The announcement in Beijing on Thursday evening followed a recent decision by China to cut its tariff on imported cars to 15 per cent from 25 per cent. Mr Trump also criticised the Chinese auto tariff on Tuesday, noting that the USA tariff on imported cars was just 2.5 per cent.

China's government accused the Trump administration of hurting its credibility by acting erratically on trade and vowed Wednesday to fight back if Washington goes ahead with a threatened tariff hike. Other countries in addition to the United States have voiced similar frustrations with Chinese practices, and progress along this front is vital to stop the theft of American innovation.

Pointing to a pause in the trade dispute, the administration had pointed to China's plans to "significantly increase" its purchases of US goods and services and make "meaningful increases" in USA exports of agriculture and energy products.

"No matter what measures the United States takes, China has the confidence, ability and experience to safeguard the interests of the Chinese people and the country's core interests", the statement said.

Ivanka Trump abruptly left a conference call on Tuesday about a coming fitness event after receiving questions about her company's trademarks in China and her father's exercise regimen. The approval comes in the wake the president's decision not to make good on his much-heralded threat to impose $150 billion in tariffs.

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"We'd rather have talks than tariffs", he said. -China trade tariff talks, President Donald Trump's trade adviser Peter Navarro is disputing the words of his less protectionist colleague, Treasury Secretary Steven Mnuchin.

The White House also stated that it plans to announce new procedures to restrict Chinese investment "related to the acquisition of industrially significant technology" by June 30. "Trade wars do not end well", he wrote.

The changes were foreshadowed in Trump's national security strategy issued in December.

In return, the Commerce Department lifted a seven-year ban on ZTE's purchase of US components that it imposed earlier in May.

As tracked by Bloomberg, during the ship's journey, in mid-April China announced a 179 percent tariff on sorghum imports in retaliation for earlier announced tariffs from the United States.



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