Trump say USA won’t tolerate abusive trade deals

Trump say USA won’t tolerate abusive trade deals

"The US' unilateral trade moves have not only damaged normal China-US trade activities, but also could stunt world economic growth", the state-controlled newspaper reported.

The cuts in tariffs are expected to save Chinese consumers and businesses something in the order of 60 billion yuan ($8.7 billion), according to Reuters, which cites Chinese state radio.

The biggest cuts will apply to machinery, measuring equipment and other kinds of electromechanical devices, which are among China's biggest imports. He first moved to add the additional levies to $50 billion of China's imports this summer, to which China responded in a tit-for-tat manner, putting new taxes on an equal amount of USA products.

In his speech at the United Nations General Assembly, Trump stuck to a hard line on China.

"He may not be a friend of mine any more, but I think he probably respects me", said Mr Trump. Mainland China markets were closed for a holiday.

In Beijing, officials also showed no intention of backing down.

But after a turbulent week of sanctions, tariffs, cancelled meetings and accusations of election meddling, Trump suggested the honeymoon was over as US-China relations sink to their lowest point in years.

"China has all along followed the principle of non-interference", Mr Wang said in the same session.

Xi appears to have seized on his government's limited options, with China Daily running a story on Thursday about his visit to a farm where he stressed the importance of "self-reliance" in food security and manufacturing in the face of trade protectionism.

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Many analysts here say that Trump has left Beijing with little room to maneuver. The Chinese government retaliated with taxes on 5,207 US imports worth about $60 billion. "Yeah, I can't tell you now, but it came - it didn't come out of nowhere, that I can tell you", he told a press conference. "How can they expect Chinese diplomats to go to the United States to negotiate?"

The United States also irked China earlier this week by going ahead with plans to sell a batch of military parts to the self-governing island of Taiwan. "But that's a very stupid strategy", Yu said.

"Trump wants to make it look like China is being coerced into accepting a deal, and of course China will not play along with that", Mei said. To do that, it said, China needs to "expand domestic demand and unswervingly expand opening up".

Trump has threatened to retaliate against China's latest retaliation by targeting an additional $267 billion in Chinese imports. "But this idea is wrong".

The Chinese government's top diplomat also told business people at a meeting in NY that talks could not take place against the backdrop of "threats and pressure", the Foreign Ministry said.

They see initiatives such as "Made in China 2025" as a path to prosperity and global influence.

Wang's comments to Kissinger came a day after a meeting with US business leaders, during which the foreign minister warned the Trump administration's policies could lead to "total destruction" of economic ties with China.

While macroeconomic data such as inflation and GDP growth has remained strong since the start of trade threats, Trump's claims fly in the face of anecdotal stories from USA businesses around the country.

"China and the United States can have competition, but should not use a Cold War mentality to view each other, and nor should they slip into the trap of a zero-sum game", a Foreign Ministry statement on Wednesday quoted Wang as saying. China and the United States may compete with each other, but not resort to a Cold War state of mind in relations with the other side. "Someone has to pay the price for a trade war. Who? It will be the people that will suffer in the end".

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