President Donald Trump warned China on Saturday that it should strike a <a href="https://www.wionews.com/world/china-outlines-three-disagreements-in-us-trade-talks-217667">trade deal with the United States</a> now, otherwise an agreement would be "far worse for them if it has to be negotiated in my second term."

Washington and Beijing are locked in a trade battle that has seen mounting tariffs, sparking fears the dispute will damage the global economy.

Two days of talks ended Friday with no deal. China's top negotiator said the <a href="https://www.wionews.com/world/china-says-to-hold-more-trade-talks-with-us-in-beijing-217628">two sides would meet again in Beijing</a> at an unspecified date, but warned that China would make no concessions on "important principles."

"I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky &amp; have a Democrat win -- in which case they would continue to rip-off the USA for $500 Billion a year," Trump said in a tweet Saturday.

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I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky &amp; have a Democrat win - in which case they would continue to rip-off the USA for $500 Billion a year....
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1127337211777757191?ref_src=twsrc%5Etfw">May 11, 2019</a></blockquote>
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"The only problem is that they know I am going to win (best economy &amp; employment numbers in US&nbsp;history, &amp; much more), and the deal will become far worse for them if it has to be negotiated in my second term. Would be wise for them to act now, but love collecting BIG TARIFFS!"

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....The only problem is that they know I am going to win (best economy &amp; employment numbers in U.S. history, &amp; much more), and the deal will become far worse for them if it has to be negotiated in my second term. Would be wise for them to act now, but love collecting BIG TARIFFS!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1127337212813742082?ref_src=twsrc%5Etfw">May 11, 2019</a></blockquote>
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Trump had accused Beijing of reneging on its commitments in trade talks and ordered new punitive duties, which took effect Friday, on $200 billion worth of Chinese imports, raising them to 25 per cent from 10 per cent.&nbsp;

He then cranked up the heat further, ordering a tariff hike on almost all remaining imports -- $300 billion worth, according to US Trade Representative Robert Lighthizer -- from the world's second-biggest economy.

Those tariffs would not take effect for months, after a period of public comment.

Trump also said Saturday that firms could easily avoid additional costs by producing goods in the United States.&nbsp;

"Such an easy way to avoid Tariffs? Make or produce your goods and products in the good old USA. It's very simple!" he tweeted, echoing a similar message he sent Friday -- and even retweeted.

Only a week earlier, the <a href="https://www.wionews.com/world/us-officials-says-china-trade-talks-constructive-217600">United States and China had seemed poised</a> to complete a sweeping agreement.

Washington wants Beijing to tighten its intellectual property protections, cut its subsidies to state-owned firms and reduce the yawning trade deficit; China wants an end to tariffs as part of a "balanced" deal.

While supporters laud Trump as a tough negotiator, free-trade-minded Republicans have warned that the tariffs could do real damage to the economy, and many farmers -- including Trump supporters -- say the tariffs have hit their bottom line.&nbsp;

As the trade war spread, China imposed $110 billion in duties on farm exports and other US goods.&nbsp;

Republican Senator Chuck Grassley, from the farm state of Iowa, cautiously welcomed the new tariffs but urged negotiators to reach a quick solution "so we can avoid prolonged tariffs, which we know have an impact on the US economy."

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President Donald Trump warned China on Saturday that it should strike a trade deal with the United States now, otherwise an agreement would be "far worse for them if it has to be negotiated in my second term.

President Donald Trump warned China on Saturday that it should strike a trade deal with the United States now, otherwise an agreement would be "far worse for them if it has to be negotiated in my second term." Washington and Beijing are locked in a trade battle that has seen mounting tariffs, sparking fears the dispute will damage the global economy. Two days of talks ended Friday with no deal. China's top negotiator said the two sides would meet again in Beijing at an unspecified date, but warned that China would make no concessions on "important principles." "I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win -- in which case they would continue to rip-off the USA for $500 Billion a year," Trump said in a tweet Saturday. I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win - in which case they would continue to rip-off the USA for $500 Billion a year.... — Donald J. Trump (@realDonaldTrump) May 11, 2019 × "The only problem is that they know I am going to win (best economy & employment numbers in US history, & much more), and the deal will become far worse for them if it has to be negotiated in my second term. Would be wise for them to act now, but love collecting BIG TARIFFS!" ....The only problem is that they know I am going to win (best economy & employment numbers in U.S. history, & much more), and the deal will become far worse for them if it has to be negotiated in my second term. Would be wise for them to act now, but love collecting BIG TARIFFS! — Donald J. Trump (@realDonaldTrump) May 11, 2019 × Trump had accused Beijing of reneging on its commitments in trade talks and ordered new punitive duties, which took effect Friday, on $200 billion worth of Chinese imports, raising them to 25 per cent from 10 per cent. He then cranked up the heat further, ordering a tariff hike on almost all remaining imports -- $300 billion worth, according to US Trade Representative Robert Lighthizer -- from the world's second-biggest economy. Those tariffs would not take effect for months, after a period of public comment. Trump also said Saturday that firms could easily avoid additional costs by producing goods in the United States. "Such an easy way to avoid Tariffs? Make or produce your goods and products in the good old USA. It's very simple!" he tweeted, echoing a similar message he sent Friday -- and even retweeted. Only a week earlier, the United States and China had seemed poised to complete a sweeping agreement. Washington wants Beijing to tighten its intellectual property protections, cut its subsidies to state-owned firms and reduce the yawning trade deficit; China wants an end to tariffs as part of a "balanced" deal. While supporters laud Trump as a tough negotiator, free-trade-minded Republicans have warned that the tariffs could do real damage to the economy, and many farmers -- including Trump supporters -- say the tariffs have hit their bottom line. As the trade war spread, China imposed $110 billion in duties on farm exports and other US goods. Republican Senator Chuck Grassley, from the farm state of Iowa, cautiously welcomed the new tariffs but urged negotiators to reach a quick solution "so we can avoid prolonged tariffs, which we know have an impact on the US economy." ×

Trade deal will become far worse if negotiated in my second term: Donald Trump warns China

Will A Potential Trade War Hurt The U.S. More Or China More? A trade war will hurt supply chains, financial markets and as a consequence the global economy. Palki sums up the latest on the ongoing trade dispute between China and the U.S and explains why a trade war is akin to the U.S. shooting the global economy on the boot and asking it to run a marathon

Gravitas: Is a U.S-China trade war around the corner?

In the backdrop of the <a href="https://www.wionews.com/world/tariffs-will-bring-in-far-more-wealth-to-our-country-than-even-phenomenal-deal-of-traditional-kind-donald-trump-217507">US-China trade war</a> and the impasse at the World Trade Organisation (WTO), a WTO ministerial of 22 developing countries will take place in New Delhi next week.&nbsp;

In the meeting, which will take place next week, the countries are expected to deliberate on a common position on unilateral measures being taken by few countries among other issues of interest.&nbsp;

India's commerce ministry in a release said the meeting is being held at a time when the "multilateral rule-based-trading system is facing serious and grave challenges" and in the recent past, "there have been increasing unilateral measures and countermeasures by members".

US president Donald Trump on Friday tweeted on the ongoing trade spat&nbsp;with China. "Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch," he tweeted even as Washington imposed increased tariffs on Chinese goods.

The meet will also discuss the impasse in the Appellate Body of the WTO which could impact the existence of a Dispute Settlement Mechanism at the global body and further impact the position of the WTO as an effective multilateral organisation.

The Appellate Body based in Geneva hears appeals brought by the WTO members and consists of 7 members. The US has blocked the nomination of new members at the body.

Next week's meeting will have 16 developing countries, 6 least developed countries (LDC) along with Director General, WTO Roberto Azevêdo. Countries that will participate in the meeting include Argentina, Bangladesh, Barbados, Benin, Brazil, Central African Republic (CAR), Chad, China, Egypt, Guatemala, Guyana, Indonesia, Jamaica, Kazakhstan, Malawi, Malaysia, Nigeria, Oman, Saudi Arabia, South Africa, Turkey and Uganda.&nbsp;

Bangladesh, Central African Republic and South Africa have confirmed their participation. Vice ministers, senior officials and ambassadors of respective countries will be in attendance during the meeting.&nbsp;

China will be represented by an assistant minister and its envoy. A joint statement is expected by the end of the two day meet.&nbsp;

In the backdrop of the US-China trade war and the impasse at the World Trade Organisation (WTO), a WTO ministerial of 22 developing countries will take place in New Delhi next week.

In the backdrop of the US-China trade war and the impasse at the World Trade Organisation (WTO), a WTO ministerial of 22 developing countries will take place in New Delhi next week. In the meeting, which will take place next week, the countries are expected to deliberate on a common position on unilateral measures being taken by few countries among other issues of interest. India's commerce ministry in a release said the meeting is being held at a time when the "multilateral rule-based-trading system is facing serious and grave challenges" and in the recent past, "there have been increasing unilateral measures and countermeasures by members". US president Donald Trump on Friday tweeted on the ongoing trade spat with China. "Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch," he tweeted even as Washington imposed increased tariffs on Chinese goods. The meet will also discuss the impasse in the Appellate Body of the WTO which could impact the existence of a Dispute Settlement Mechanism at the global body and further impact the position of the WTO as an effective multilateral organisation. The Appellate Body based in Geneva hears appeals brought by the WTO members and consists of 7 members. The US has blocked the nomination of new members at the body. Next week's meeting will have 16 developing countries, 6 least developed countries (LDC) along with Director General, WTO Roberto Azevêdo. Countries that will participate in the meeting include Argentina, Bangladesh, Barbados, Benin, Brazil, Central African Republic (CAR), Chad, China, Egypt, Guatemala, Guyana, Indonesia, Jamaica, Kazakhstan, Malawi, Malaysia, Nigeria, Oman, Saudi Arabia, South Africa, Turkey and Uganda. Bangladesh, Central African Republic and South Africa have confirmed their participation. Vice ministers, senior officials and ambassadors of respective countries will be in attendance during the meeting. China will be represented by an assistant minister and its envoy. A joint statement is expected by the end of the two day meet.

Amid US-China trade war, 22 WTO countries to meet in New Delhi next week

US oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck, as investors have been fearing that a protracted tariff war would harm global economic growth.

Brent crude futures were at $70.85 a barrel at 0021 GMT, up 48 cents, or 0.7 per cent, from their last close. Brent closed little changed in the previous session.

US&nbsp;West Texas Intermediate (WTI) crude futures were at $62.29 per barrel, up 59 cents, or 1 per cent, from their previous settlement. WTI closed the last session down 0.7 percent.

Analysts said oil was drawing support on renewed hopes that a China-US&nbsp;trade deal after US President Donald Trump said he received a "beautiful letter" from Chinese President Xi Jinping.

Trump quoted the letter as saying: "Let's work together let's see if we can get something done."

Still, traders remained on edge as Washington prepares to go ahead with plans to hike tariffs on hundreds of billions of dollars of goods imported from China at 12:01 a.m. EDT on Friday(0401 GMT on Saturday).

"The outcome of the US-China trade talks remains uncertain," said Alfonso Esparza, Senior Market Analyst at OANDA.

"Global growth forecasts were hit by tariff escalation last year, before a ceasefire and negotiations kicked up a notch."

The trade optimism comes amid efforts by the Organisation of Petroleum Exporting Countries to crimp supply, as well as expectations that demand will rise.

The US&nbsp;Energy Information Administration expects global oil demand to rise by 1.4 million barrels per day (bpd) this year.

US oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck, as investors have been fearing that a protracted tariff war would harm global economic growth.

US oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck, as investors have been fearing that a protracted tariff war would harm global economic growth. Brent crude futures were at $70.85 a barrel at 0021 GMT, up 48 cents, or 0.7 per cent, from their last close. Brent closed little changed in the previous session. US West Texas Intermediate (WTI) crude futures were at $62.29 per barrel, up 59 cents, or 1 per cent, from their previous settlement. WTI closed the last session down 0.7 percent. Analysts said oil was drawing support on renewed hopes that a China-US trade deal after US President Donald Trump said he received a "beautiful letter" from Chinese President Xi Jinping. Trump quoted the letter as saying: "Let's work together let's see if we can get something done." Still, traders remained on edge as Washington prepares to go ahead with plans to hike tariffs on hundreds of billions of dollars of goods imported from China at 12:01 a.m. EDT on Friday(0401 GMT on Saturday). "The outcome of the US-China trade talks remains uncertain," said Alfonso Esparza, Senior Market Analyst at OANDA. "Global growth forecasts were hit by tariff escalation last year, before a ceasefire and negotiations kicked up a notch." The trade optimism comes amid efforts by the Organisation of Petroleum Exporting Countries to crimp supply, as well as expectations that demand will rise. The US Energy Information Administration expects global oil demand to rise by 1.4 million barrels per day (bpd) this year.

Oil rallies on hopes for US-China trade deal

Wall Street's main indexes fell on Thursday ahead of critical trade negotiations between the United States and China, though they pared losses significantly after US President Donald Trump said reaching a deal this week was possible.

US stocks had fallen more than 1% earlier in the session but recovered much of those losses after Trump said he had received a "beautiful letter" from Chinese President Xi Jinping. Negotiators will meet at 5 pm&nbsp;EDT (2100 GMT) on Thursday, Trump said. They are set to continue talks through Friday.

Still, the United States has not backed down from hiking tariffs on $200 billion worth of Chinese goods to 25% on Friday. Trump also said that paperwork had been initiated to levy 25% tariffs on a further $325 billion worth of Chinese goods.

Even with the possibility of further tariffs going into effect, some investors remained optimistic that a trade agreement was within reach. That likely kept Thursday's declines in check, said John Stoltzfus, chief investment strategist at Oppenheimer Asset Management.

"We may very well see tariffs put in place tomorrow, but it's going to get resolved," Stoltzfus said. "It's too impractical for either side to extend this into a protracted trade war."

The Dow Jones Industrial Average fell 138.97 points, or 0.54%, to 25,828.36, the S&amp;P 500 lost 8.7 points, or 0.30%, to 2,870.72 and the Nasdaq Composite dropped 32.73 points, or 0.41%, to 7,910.59.

The S&amp;P 500 index briefly slipped below its 50-day moving average, a closely watched indicator of momentum, during the session but ended above that level.

Materials and technology stocks posted the steepest declines among the S&amp;P 500's sectors, dropping 0.8% and 0.7%, respectively.

Shares of chipmakers, which get a large portion of the revenue from China, continued to slide, with the Philadelphia semiconductor index ending 1.2% lower. The index has fallen 6% so far this week and is on pace to post its biggest percentage weekly loss since December.

Chipmaker shares were also pressured by an underwhelming profit growth forecast from Intel Corp. Intel shares fell 5.3% and were the biggest drag on the S&amp;P 500.

Trade-sensitive industrial bellwethers were also hit, with Boeing Co shares falling 1% and 3M Co shares dropping 1.9%.

The CBOE Volatility Index, a gauge of investor anxiety, rose for the fourth consecutive session and is at its highest level in more than three months.

In a bright spot, Tapestry Inc shares jumped 8.5%, the most among S&amp;P companies, after the Coach handbag maker beat quarterly profit estimates and announced a $1 billion share buyback plan.

Chevron Corp shares gained 3.1%, providing the biggest boost to the Dow and the S&amp;P 500, after the oil company said it would not raise its $33 billion offer to buy Anadarko Petroleum Corp.

Declining issues outnumbered advancing ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favoured decliners.

The S&amp;P 500 posted two new 52-week highs and 11 new lows; the Nasdaq Composite recorded 37 new highs and 98 new lows.

Volume on US exchanges was 7.75 billion shares, compared with the 6.83 billion-share average for the full session over the last 20 trading days.

Wall Street's main indexes fell on Thursday ahead of critical trade negotiations between the United States and China, though they pared losses significantly after US President Donald Trump said reaching a deal this week was possible.

Wall Street's main indexes fell on Thursday ahead of critical trade negotiations between the United States and China, though they pared losses significantly after US President Donald Trump said reaching a deal this week was possible. US stocks had fallen more than 1% earlier in the session but recovered much of those losses after Trump said he had received a "beautiful letter" from Chinese President Xi Jinping. Negotiators will meet at 5 pm EDT (2100 GMT) on Thursday, Trump said. They are set to continue talks through Friday. Still, the United States has not backed down from hiking tariffs on $200 billion worth of Chinese goods to 25% on Friday. Trump also said that paperwork had been initiated to levy 25% tariffs on a further $325 billion worth of Chinese goods. Even with the possibility of further tariffs going into effect, some investors remained optimistic that a trade agreement was within reach. That likely kept Thursday's declines in check, said John Stoltzfus, chief investment strategist at Oppenheimer Asset Management. "We may very well see tariffs put in place tomorrow, but it's going to get resolved," Stoltzfus said. "It's too impractical for either side to extend this into a protracted trade war." The Dow Jones Industrial Average fell 138.97 points, or 0.54%, to 25,828.36, the S&P 500 lost 8.7 points, or 0.30%, to 2,870.72 and the Nasdaq Composite dropped 32.73 points, or 0.41%, to 7,910.59. The S&P 500 index briefly slipped below its 50-day moving average, a closely watched indicator of momentum, during the session but ended above that level. Materials and technology stocks posted the steepest declines among the S&P 500's sectors, dropping 0.8% and 0.7%, respectively. Shares of chipmakers, which get a large portion of the revenue from China, continued to slide, with the Philadelphia semiconductor index ending 1.2% lower. The index has fallen 6% so far this week and is on pace to post its biggest percentage weekly loss since December. Chipmaker shares were also pressured by an underwhelming profit growth forecast from Intel Corp. Intel shares fell 5.3% and were the biggest drag on the S&P 500. Trade-sensitive industrial bellwethers were also hit, with Boeing Co shares falling 1% and 3M Co shares dropping 1.9%. The CBOE Volatility Index, a gauge of investor anxiety, rose for the fourth consecutive session and is at its highest level in more than three months. In a bright spot, Tapestry Inc shares jumped 8.5%, the most among S&P companies, after the Coach handbag maker beat quarterly profit estimates and announced a $1 billion share buyback plan. Chevron Corp shares gained 3.1%, providing the biggest boost to the Dow and the S&P 500, after the oil company said it would not raise its $33 billion offer to buy Anadarko Petroleum Corp. Declining issues outnumbered advancing ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favoured decliners. The S&P 500 posted two new 52-week highs and 11 new lows; the Nasdaq Composite recorded 37 new highs and 98 new lows. Volume on US exchanges was 7.75 billion shares, compared with the 6.83 billion-share average for the full session over the last 20 trading days.

Wall Street dips as investors await outcome of US-China trade talks

US President Donald Trump said on Wednesday that <a href="https://www.wionews.com/world/us-china-reneged-on-trade-commitments-sparking-trump-tariff-hike-216534">China "broke the deal"</a> it had reached in trade talks with the United States and vowed not to back down on imposing new tariffs on Chinese imports unless Beijing "stops cheating our workers."

The US Trade Representative's office announced that tariffs on $200 billion worth of Chinese goods would increase to 25 per cent from 10 per cent at 12:01 a.m. (0401) GMT on Friday, right in the middle of two days of meetings between Chinese Vice Premier Liu He and Trump's top trade officials in Washington.

Also read:&nbsp;<a href="https://www.wionews.com/world/trump-targets-irans-iron-steel-aluminium-copper-sectors-in-new-sanctions-217134">Trump targets Iran's iron, steel, aluminium &amp; copper sectors in new sanctions</a>

Speaking to supporters at a rally in Florida on Wednesday, Trump accused China of breaking the deal and said that Beijing would pay if no agreement is reached.

"I just announced that we’ll increase tariffs on China and we won’t back down until China stops cheating our workers and stealing our jobs, and that’s what’s going to happen, otherwise we don’t have to do business with them,” Trump told a cheering crowd.

"They broke the deal," he added. "They can't do that. So they'll be paying. If we don't make the deal, nothing wrong with taking in more than $100 billion a year."

Trump's comments fueled a round of selling in Asian markets

Beijing has announced it would retaliate if tariffs rise.

Also read:&nbsp;<a href="https://www.wionews.com/world/explaining-the-us-china-trade-war-which-grabbed-spotlight-in-2018-185043">Explaining the US-China trade war which grabbed spotlight in 2018</a>

"The Chinese side deeply regrets that if the US&nbsp;tariff measures are implemented, China will have to take necessary countermeasures," China's Commerce Ministry said on its website, without elaborating.

The world's two largest economies have been embroiled in a tit-for-tat tariff war since July 2018 over US&nbsp;demands that the Asian powerhouse adopt policy changes that would, among other things, better protect American intellectual property and make China's market more accessible to US companies.

Expectations were recently riding high that a deal could be reached, but a deep rift over the language of the proposed agreement opened up last weekend.

Reuters, citing US government and private-sector sources, reported on Wednesday that China had backtracked on almost all aspects of a draft trade agreement, threatening to blow up the negotiations and prompting Trump to order the tariff increase.

Trump, who has embraced largely protectionist policies as part of his "America First" agenda, warned China on Wednesday that it was mistaken if it hoped to delay a trade deal until a Democrat controlled the White House.

"The reason for the China pullback &amp; attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to 'negotiate' with Joe Biden or one of the very weak Democrats," Trump, a Republican, tweeted on Wednesday.

"Guess what, that's not going to happen! China has just informed us that they (Vice-Premier) are now coming to the US&nbsp;to make a deal. We'll see, but I am very happy with over $100 Billion a year in Tariffs filling US coffers," he added.

In response, Biden's deputy campaign manager, Kate Bedingfield, criticized Trump, saying on Twitter that US farmers, small-business owners and consumers were the ones hit by the tariff battle.

Speaking to reporters, White House Press Secretary Sarah Sanders said the Trump administration had received an "indication" that China wants an agreement.

US stock indexes rebounded slightly from this week's earlier losses after her comments, but the S&amp;P 500 and the Nasdaq closed in negative territory amid caution over trade and some disappointing earnings.

SWEEPING CHANGES

Washington is demanding Beijing make sweeping changes to its trade and regulatory practices, including protecting US intellectual property from theft and forced transfers to Chinese firms, curbs on Chinese government subsidies and increased American access to China's markets.

Trump also has sought massive hikes in Chinese purchases of US farm, energy and manufactured products to shrink a gaping US&nbsp;trade deficit with China.

Sources familiar with the talks said China's latest demands for changes to a 150-page document that had been drafted over several months would make it hard to avoid the US tariff hike on Friday. That increase would affect Chinese imports from computer modems and routers to vacuum cleaners, furniture, lighting and building materials.

Scott Kennedy, a China expert at the Center for Strategic and International Studies in Washington, said the talks were at a delicate stage and much depended on what sort of proposal Liu is bringing to Washington.

"I think the Trump administration is quite serious about imposing tariffs," Kennedy said. "I don't think Liu He would have agreed to come if he was just going to give the US&nbsp;a lecture."

US President Donald Trump said on Wednesday that China "broke the deal" it had reached in trade talks with the United States and vowed not to back down on imposing new tariffs on Chinese imports unless Beijing "stops cheating our workers.

US President Donald Trump said on Wednesday that China "broke the deal" it had reached in trade talks with the United States and vowed not to back down on imposing new tariffs on Chinese imports unless Beijing "stops cheating our workers." The US Trade Representative's office announced that tariffs on $200 billion worth of Chinese goods would increase to 25 per cent from 10 per cent at 12:01 a.m. (0401) GMT on Friday, right in the middle of two days of meetings between Chinese Vice Premier Liu He and Trump's top trade officials in Washington. Also read: Trump targets Iran's iron, steel, aluminium & copper sectors in new sanctions Speaking to supporters at a rally in Florida on Wednesday, Trump accused China of breaking the deal and said that Beijing would pay if no agreement is reached. "I just announced that we’ll increase tariffs on China and we won’t back down until China stops cheating our workers and stealing our jobs, and that’s what’s going to happen, otherwise we don’t have to do business with them,” Trump told a cheering crowd. "They broke the deal," he added. "They can't do that. So they'll be paying. If we don't make the deal, nothing wrong with taking in more than $100 billion a year." Trump's comments fueled a round of selling in Asian markets Beijing has announced it would retaliate if tariffs rise. Also read: Explaining the US-China trade war which grabbed spotlight in 2018 "The Chinese side deeply regrets that if the US tariff measures are implemented, China will have to take necessary countermeasures," China's Commerce Ministry said on its website, without elaborating. The world's two largest economies have been embroiled in a tit-for-tat tariff war since July 2018 over US demands that the Asian powerhouse adopt policy changes that would, among other things, better protect American intellectual property and make China's market more accessible to US companies. Expectations were recently riding high that a deal could be reached, but a deep rift over the language of the proposed agreement opened up last weekend. Reuters, citing US government and private-sector sources, reported on Wednesday that China had backtracked on almost all aspects of a draft trade agreement, threatening to blow up the negotiations and prompting Trump to order the tariff increase. Trump, who has embraced largely protectionist policies as part of his "America First" agenda, warned China on Wednesday that it was mistaken if it hoped to delay a trade deal until a Democrat controlled the White House. "The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to 'negotiate' with Joe Biden or one of the very weak Democrats," Trump, a Republican, tweeted on Wednesday. "Guess what, that's not going to happen! China has just informed us that they (Vice-Premier) are now coming to the US to make a deal. We'll see, but I am very happy with over $100 Billion a year in Tariffs filling US coffers," he added. In response, Biden's deputy campaign manager, Kate Bedingfield, criticized Trump, saying on Twitter that US farmers, small-business owners and consumers were the ones hit by the tariff battle. Speaking to reporters, White House Press Secretary Sarah Sanders said the Trump administration had received an "indication" that China wants an agreement. US stock indexes rebounded slightly from this week's earlier losses after her comments, but the S&P 500 and the Nasdaq closed in negative territory amid caution over trade and some disappointing earnings. SWEEPING CHANGES Washington is demanding Beijing make sweeping changes to its trade and regulatory practices, including protecting US intellectual property from theft and forced transfers to Chinese firms, curbs on Chinese government subsidies and increased American access to China's markets. Trump also has sought massive hikes in Chinese purchases of US farm, energy and manufactured products to shrink a gaping US trade deficit with China. Sources familiar with the talks said China's latest demands for changes to a 150-page document that had been drafted over several months would make it hard to avoid the US tariff hike on Friday. That increase would affect Chinese imports from computer modems and routers to vacuum cleaners, furniture, lighting and building materials. Scott Kennedy, a China expert at the Center for Strategic and International Studies in Washington, said the talks were at a delicate stage and much depended on what sort of proposal Liu is bringing to Washington. "I think the Trump administration is quite serious about imposing tariffs," Kennedy said. "I don't think Liu He would have agreed to come if he was just going to give the US a lecture."

Won’t back down until China stops cheating our workers and stealing our jobs: Trump at Florida rally

The United States will raise tariffs on $200 billion worth of <a href="https://www.wionews.com/world/chinas-xi-jinping-calls-for-early-conclusion-of-us-trade-talks-report-208028">Chinese imports</a> to 25 per cent from 10 per cent effective on Friday, according to a notice posted to the Federal Register on Wednesday.

The US Trade Representative's office will establish a process to seek exclusions for certain products from additional tariffs, the Federal Register notice said.

US President Donald Trump said in a tweet that he would be "very happy with over $100 billion a year in Tariffs filling US coffers."

His comments followed a Reuters report that quoted US government and private-sector sources as saying China had backtracked on almost all aspects of a draft trade agreement with the United States.

Global equities tumbled toward five-week lows as the escalating trade fight fed worries about the world economy and investors sought the safety of bonds and the Japanese yen, which hit a six-week high against the US dollar.

The United States will raise tariffs on $200 billion worth of Chinese imports to 25 per cent from 10 per cent effective on Friday, according to a notice posted to the Federal Register on Wednesday.

The United States will raise tariffs on $200 billion worth of Chinese imports to 25 per cent from 10 per cent effective on Friday, according to a notice posted to the Federal Register on Wednesday. The US Trade Representative's office will establish a process to seek exclusions for certain products from additional tariffs, the Federal Register notice said. US President Donald Trump said in a tweet that he would be "very happy with over $100 billion a year in Tariffs filling US coffers." His comments followed a Reuters report that quoted US government and private-sector sources as saying China had backtracked on almost all aspects of a draft trade agreement with the United States. Global equities tumbled toward five-week lows as the escalating trade fight fed worries about the world economy and investors sought the safety of bonds and the Japanese yen, which hit a six-week high against the US dollar.

US to hike tariffs on $200 billion worth of Chinese imports

By Charles Hankla 
 
Last week President Donald Trump seemed to be on the cusp of a trade deal with China. A couple of threatening tweets later, the odds of ending the 16-month-old US-China trade war have dropped dramatically.

Whether or not American and Chinese trade negotiators ultimately salvage a deal – the US says China backpedaled on a commitment and intends to raise tariffs within days – the episode highlights drawbacks in Trump’s trade strategy, which tends to be protectionist, confrontational and negotiated one on one.

Unfortunately, Trump’s policies are only an acceleration of a trend in international trade that’s been going on for several decades. It’s a move away from multilateralism – in which many countries agree on certain trading principles – and toward bilateralism – which pits nation against nation, raising the stakes.

I am a specialist in the politics of trade. My observations lead me to believe that the increasing abandonment of multilateralism will have pernicious long-term consequences. Not only will trade become more costly for businesses and consumers, it may even make the planet a more dangerous place.

World trade – Trump style

Before we can understand what has changed, we need to revisit how trade deals have historically been done.

In the decades following World War II, the General Agreement on Tariffs and Trade was the center of gravity for trade negotiations. While that system wasn’t perfect, most of the world’s countries could at least participate, to one degree or another, in hammering out the rules of trade.

This multilateral trading order reached its heyday in 1995, with the creation of the World Trade Organisation. But more recently, the system has weakened. Today, most of the world’s new agreements are struck between only two countries or within a single region.

Trump has shown little appetite for continuing the multilateral negotiations his predecessors were working on. He’s also hammered on regional accords, famously renegotiating the North American Free Trade Agreement and withdrawing from the Trans-Pacific Partnership.

Trump’s clear preference is for bilateral deals where the US can use its market power to force concessions from its negotiating partners. But Trump has added a level of confrontation and antagonism to world trade not known in the postwar era.

For evidence, look no further than his threats to raise tariffs on hundreds of billions of dollars of Chinese goods if a deal falls through.

In essence, the United States under Trump has begun to see itself as the victim, rather than the guarantor, of the liberal trading order. This new perspective has made American negotiators more willing to extract temporary concessions from trading partners, even when these come at the cost of destabilizing the system as a whole.

Rules upon rules

One pernicious consequence of abandoning multilateralism is the mounting complexity and discriminatory nature of global trading arrangements.

In international trade, the fewer rules there are the better. One real benefit of the WTO system is that the same rules, more or less, apply to everyone.

But the world’s increasing rejection of multilateralism is creating a complex web of trade regulations that are tremendously hard to navigate. The number of preferential trade agreements jumped from just over 50 in 1990 to nearly 300 in 2010.

More deals like these mean that one set of rules is overlaid by more rules that only apply when trading with specific countries in certain goods and services. For this reason, the economist Jagdish Bhagwati has called bilateral deals “termites in the trading system.”

These “termites” and the informational burdens they create have real costs for companies and consumers, whether in Europe, Asia or the United States. And this growing complexity weakens competition by giving certain companies an edge over others based on their national origin, distorting the efficiency of global markets.

In the end, these burdens can discourage smaller companies from engaging in global commerce, make it more expensive for even the largest businesses and drive up the cost of products for consumers.

Trade conflicts

A second drawback to Trump’s approach is that it increases the risk of war, at least over the long term.

As the political economist David Lake has pointed out, one purpose of the trading system that the US helped set up after World War II was to forestall mutually antagonistic trading blocs like the ones built by Adolf Hitler or, earlier, by the European and Japanese colonial powers.

The origins of the two world wars may have been principally political, but there is little doubt that economic conflicts between blocs contributed to the military tensions.

During the postwar era, the multilateral system took a major step toward insulating trade from such international disputes and strategic competition. Outside of relations with the communist bloc, which only later participated in multilateral trade deals, there is ample reason to believe that economic interdependence helped produce the “long peace” of that period.

For this reason, we should all be worried about the wobbly state of the global trading system. Bilateral and regional deals are making it easier for large countries to use trade policy more explicitly as an arm of foreign and military policy.

Modern bilateral deals are not recreating the colonial systems of the past, but they do tend to center on major powers in what some scholars have called a “hub” and “spoke” pattern. The “hub” often enjoys significant influence over the “spoke,” and not just in commercial affairs. China’s overtures to African countries over a free trade deal, for example, are likely linked to its strategic interest in securing access to national resources.

While I’m not suggesting that these deals are likely to trigger a shooting war anytime soon, an increasingly fractured world will gradually reduce interdependence among countries – which can act as a strong incentive to avoid a fight.

If the rising number of bilateral deals become an instrument of security policy, and trade increasingly flows only to strategically friendly countries, we should all prepare for more violent conflict in the future. 
 
(Charles Hankla is Associate Professor of Political Science, Georgia State University) 
 
(This article was originally published on The Conversation. Read the <a href="https://theconversation.com/trumps-one-on-one-approach-to-china-has-dangerous-implications-for-global-trade-and-world-peace-116505">original article)</a>

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL) 
 
&nbsp;

By Charles Hankla Last week President Donald Trump seemed to be on the cusp of a trade deal with China. A couple of threatening tweets later, the odds of ending the 16-month-old US-China trade war have dropped dramatically.

By Charles Hankla Last week President Donald Trump seemed to be on the cusp of a trade deal with China. A couple of threatening tweets later, the odds of ending the 16-month-old US-China trade war have dropped dramatically. Whether or not American and Chinese trade negotiators ultimately salvage a deal – the US says China backpedaled on a commitment and intends to raise tariffs within days – the episode highlights drawbacks in Trump’s trade strategy, which tends to be protectionist, confrontational and negotiated one on one. Unfortunately, Trump’s policies are only an acceleration of a trend in international trade that’s been going on for several decades. It’s a move away from multilateralism – in which many countries agree on certain trading principles – and toward bilateralism – which pits nation against nation, raising the stakes. I am a specialist in the politics of trade. My observations lead me to believe that the increasing abandonment of multilateralism will have pernicious long-term consequences. Not only will trade become more costly for businesses and consumers, it may even make the planet a more dangerous place. World trade – Trump style Before we can understand what has changed, we need to revisit how trade deals have historically been done. In the decades following World War II, the General Agreement on Tariffs and Trade was the center of gravity for trade negotiations. While that system wasn’t perfect, most of the world’s countries could at least participate, to one degree or another, in hammering out the rules of trade. This multilateral trading order reached its heyday in 1995, with the creation of the World Trade Organisation. But more recently, the system has weakened. Today, most of the world’s new agreements are struck between only two countries or within a single region. Trump has shown little appetite for continuing the multilateral negotiations his predecessors were working on. He’s also hammered on regional accords, famously renegotiating the North American Free Trade Agreement and withdrawing from the Trans-Pacific Partnership. Trump’s clear preference is for bilateral deals where the US can use its market power to force concessions from its negotiating partners. But Trump has added a level of confrontation and antagonism to world trade not known in the postwar era. For evidence, look no further than his threats to raise tariffs on hundreds of billions of dollars of Chinese goods if a deal falls through. In essence, the United States under Trump has begun to see itself as the victim, rather than the guarantor, of the liberal trading order. This new perspective has made American negotiators more willing to extract temporary concessions from trading partners, even when these come at the cost of destabilizing the system as a whole. Rules upon rules One pernicious consequence of abandoning multilateralism is the mounting complexity and discriminatory nature of global trading arrangements. In international trade, the fewer rules there are the better. One real benefit of the WTO system is that the same rules, more or less, apply to everyone. But the world’s increasing rejection of multilateralism is creating a complex web of trade regulations that are tremendously hard to navigate. The number of preferential trade agreements jumped from just over 50 in 1990 to nearly 300 in 2010. More deals like these mean that one set of rules is overlaid by more rules that only apply when trading with specific countries in certain goods and services. For this reason, the economist Jagdish Bhagwati has called bilateral deals “termites in the trading system.” These “termites” and the informational burdens they create have real costs for companies and consumers, whether in Europe, Asia or the United States. And this growing complexity weakens competition by giving certain companies an edge over others based on their national origin, distorting the efficiency of global markets. In the end, these burdens can discourage smaller companies from engaging in global commerce, make it more expensive for even the largest businesses and drive up the cost of products for consumers. Trade conflicts A second drawback to Trump’s approach is that it increases the risk of war, at least over the long term. As the political economist David Lake has pointed out, one purpose of the trading system that the US helped set up after World War II was to forestall mutually antagonistic trading blocs like the ones built by Adolf Hitler or, earlier, by the European and Japanese colonial powers. The origins of the two world wars may have been principally political, but there is little doubt that economic conflicts between blocs contributed to the military tensions. During the postwar era, the multilateral system took a major step toward insulating trade from such international disputes and strategic competition. Outside of relations with the communist bloc, which only later participated in multilateral trade deals, there is ample reason to believe that economic interdependence helped produce the “long peace” of that period. For this reason, we should all be worried about the wobbly state of the global trading system. Bilateral and regional deals are making it easier for large countries to use trade policy more explicitly as an arm of foreign and military policy. Modern bilateral deals are not recreating the colonial systems of the past, but they do tend to center on major powers in what some scholars have called a “hub” and “spoke” pattern. The “hub” often enjoys significant influence over the “spoke,” and not just in commercial affairs. China’s overtures to African countries over a free trade deal, for example, are likely linked to its strategic interest in securing access to national resources. While I’m not suggesting that these deals are likely to trigger a shooting war anytime soon, an increasingly fractured world will gradually reduce interdependence among countries – which can act as a strong incentive to avoid a fight. If the rising number of bilateral deals become an instrument of security policy, and trade increasingly flows only to strategically friendly countries, we should all prepare for more violent conflict in the future. (Charles Hankla is Associate Professor of Political Science, Georgia State University) (This article was originally published on The Conversation. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Donald Trump’s one-on-one approach to China has dangerous implications for global trade

US-China Talks Were Headed To An Amicable Solution Before US President Trump Decided To Hike Tariffs On China. Is The Trade War Back On The Table?

Gravitas: Fresh Tariffs On China: Trump Spooks Global Markets With A Few Tweets

The head of the International Monetary Fund said Tuesday that <a href="https://www.wionews.com/world/chinas-top-trade-negotiator-to-visit-us-despite-tariffs-216689">fresh trade tensions between the United States and China</a> were the main threat to the world economy.

"Clearly the tensions between the United States and China are the threat for the world economy," Christine Lagarde told journalists at a conference in Paris, adding that recent "rumours and tweets" made an agreement between the countries less likely.&nbsp;

President Donald Trump jolted global markets on Monday by threatening on Twitter that <a href="https://www.wionews.com/world/trump-announces-higher-us-tariffs-on-china-goods-216186">tariffs already imposed on $200 billion in Chinese exports</a> to US would more than double to 25 per cent on Friday from their current level of 10 per cent.

Also speaking at the Paris Forum event, French Economy Minister Bruno Le Maire warned about the impact of a trade war between the world's two biggest economies.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-fresh-tariffs-on-china-trump-spooks-global-markets-with-a-few-tweets-216519/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"We are looking very carefully at the current negotiations between China and the US. We want these negotiations to stick with principles of transparency and multilateralism," he said, speaking in English.

He called on the two sides to "avoid decisions that would threaten and jeopardise world growth in the coming months."

"Raising tariffs is always a deadlock and a negative decision for everybody -- for the US, for China, for the eurozone, for Europe and for growth all over the world," he said.

Le Maire cautioned that during a period of slowdown in world growth there should not be "negative decisions that could accelerate that slowdown."

China said Tuesday its top trade negotiator will visit the United States for talks with his American counterparts this week.

The countries have been locked in talks to resolve tensions that have seen both of them impose tariffs on goods worth $360 billion.

Treasury Secretary Steven Mnuchin has described the negotiations as 90 per cent complete but told reporters that in recent days the talks went "substantially backwards", which he blamed on China reneging on previous commitments.

The head of the International Monetary Fund said Tuesday that fresh trade tensions between the United States and China were the main threat to the world economy.

The head of the International Monetary Fund said Tuesday that fresh trade tensions between the United States and China were the main threat to the world economy. "Clearly the tensions between the United States and China are the threat for the world economy," Christine Lagarde told journalists at a conference in Paris, adding that recent "rumours and tweets" made an agreement between the countries less likely. President Donald Trump jolted global markets on Monday by threatening on Twitter that tariffs already imposed on $200 billion in Chinese exports to US would more than double to 25 per cent on Friday from their current level of 10 per cent. Also speaking at the Paris Forum event, French Economy Minister Bruno Le Maire warned about the impact of a trade war between the world's two biggest economies. "We are looking very carefully at the current negotiations between China and the US. We want these negotiations to stick with principles of transparency and multilateralism," he said, speaking in English. He called on the two sides to "avoid decisions that would threaten and jeopardise world growth in the coming months." "Raising tariffs is always a deadlock and a negative decision for everybody -- for the US, for China, for the eurozone, for Europe and for growth all over the world," he said. Le Maire cautioned that during a period of slowdown in world growth there should not be "negative decisions that could accelerate that slowdown." China said Tuesday its top trade negotiator will visit the United States for talks with his American counterparts this week. The countries have been locked in talks to resolve tensions that have seen both of them impose tariffs on goods worth $360 billion. Treasury Secretary Steven Mnuchin has described the negotiations as 90 per cent complete but told reporters that in recent days the talks went "substantially backwards", which he blamed on China reneging on previous commitments.

IMF chief Christine Lagarde says US-China tensions 'threat' to world economy

The US on Monday said it planned to beef up its Arctic presence to keep<a href="https://www.wionews.com/world/russias-increasing-influence-in-cuba-stirs-ghost-of-cold-war-215866"> Russia's and China's</a> "aggressive behaviour" in check in the resource-rich region.

"The region has become an arena of global power and competition" owing to vast reserves of oil, gas, minerals and fish stocks, US Secretary of State Mike Pompeo warned in a speech in Rovaniemi, northern Finland.

"Just because the <a href="https://www.wionews.com/opinions/polar-bear-invasion-how-climate-change-is-forcing-them-to-change-their-hunting-habits-197555">Arctic is a place of wilderness</a> does not mean it should become a place of lawlessness," he said.

Speaking on the eve of a meeting of the eight members of the Arctic Council, Pompeo took on Beijing and Moscow.

"China's pattern of aggressive behaviour elsewhere will inform how it treats the Arctic," he said.

He warned against scenarios whereby nations become ensnared by debt and corruption, of low-quality investments, militarisation and uncontrolled exploitation of natural resources, all of which he said were potential effects of allowing rising Chinese influence.

"Do we want the Arctic Ocean to transform into a new South China Sea, fraught with militarisation and competing territorial claims?", he said.

While the US and Russia are members of the Arctic Council, China holds only observer status in the cooperation body. Noting that China's most northern tip was 900 miles (1,450 kilometres) from the Arctic, Pompeo swatted down Beijing's attempts to style itself as a "near Arctic state".

"There are only Arctic States and Non-Arctic States. No third category exists, and claiming otherwise entitles China to exactly nothing," he said.

Beijing has invested massively in the region -&nbsp;almost $90 billion between 2012 and 2017, according to Pompeo -- and intends to fully benefit from the advantages of the Northern Sea Route.

The shipping channel, which drastically cuts sailing times between the Pacific and Atlantic by passing north of Russia, is increasingly usable as the ice melts.

China and Russia would like to make the Northern Sea Route a part of the New Silk Road project, a vast Chinese investment programme which several countries, especially the US, see as an attempt to gain control.

Gao Feng, China's special representative for Arctic affairs, reacted by saying; "He said ... It's a competition of powers. OK, competition? Let's see ... Who can get more friends".

In his speech, Pompeo also denounced Russia's "provocative actions", accusing Moscow of wanting to remilitarise the region. 
"Russia is already leaving snow prints in the form of army boots," he said. Under President Vladimir Putin, Moscow has beefed up its military presence in the region, reopening several bases that were abandoned after the fall of the USSR.

The virulence of Pompeo's remarks was noteworthy given the fact he made them just minutes before a bilateral meeting with his Russian counterpart Sergei Lavrov, amid rising US-Russian tensions over Venezuela, among other things.

The two smiled and shook hands in front of the assembled media, but refused to answer questions on the nature of their talks. 
Pompeo later told reporters that he had spoken to Lavrov about Russian interference in US elections, telling the Russian foreign minister that "It's not appropriate. To stifle rival ambitions in the Arctic, the US is "hosting military exercises, strengthening our force presence, rebuilding our icebreaker fleet, (and) expanding Coast Guard funding," Pompeo said.

At Congress' request, the Pentagon is to present a new defence strategy for the Arctic by June 1. Hundreds of US Marines already rotate through Norway to carry out cold climate training, and US planes have returned to Iceland's Keflavik airbase, which they left in 2006.

Meanwhile, Pompeo also reiterated US claims to be "the world's leader in caring for the environment," saying it would take the lead in the Arctic as well.

US carbon dioxide emissions are "on track to drop by nearly half by 2025, the best of any Arctic country," he said.

Asked in the plane carrying him to Rovaniemi about the apparent contradiction between the US commitment to protect the Arctic and President Donald Trump's pledge to leave the Paris climate accord, Pompeo said the accord, signed in 2015, had proven its "ineffectiveness".

The US on Monday said it planned to beef up its Arctic presence to keep Russia's and China's "aggressive behaviour" in check in the resource-rich region. "The region has become an arena of global power and competition" owing to vast reserves of oil, gas, minerals and fish stocks, US Secretary of State Mike Pompeo warned in a speech in Rovaniemi, northern Finland.

The US on Monday said it planned to beef up its Arctic presence to keep Russia's and China's "aggressive behaviour" in check in the resource-rich region. "The region has become an arena of global power and competition" owing to vast reserves of oil, gas, minerals and fish stocks, US Secretary of State Mike Pompeo warned in a speech in Rovaniemi, northern Finland. "Just because the Arctic is a place of wilderness does not mean it should become a place of lawlessness," he said. Speaking on the eve of a meeting of the eight members of the Arctic Council, Pompeo took on Beijing and Moscow. "China's pattern of aggressive behaviour elsewhere will inform how it treats the Arctic," he said. He warned against scenarios whereby nations become ensnared by debt and corruption, of low-quality investments, militarisation and uncontrolled exploitation of natural resources, all of which he said were potential effects of allowing rising Chinese influence. "Do we want the Arctic Ocean to transform into a new South China Sea, fraught with militarisation and competing territorial claims?", he said. While the US and Russia are members of the Arctic Council, China holds only observer status in the cooperation body. Noting that China's most northern tip was 900 miles (1,450 kilometres) from the Arctic, Pompeo swatted down Beijing's attempts to style itself as a "near Arctic state". "There are only Arctic States and Non-Arctic States. No third category exists, and claiming otherwise entitles China to exactly nothing," he said. Beijing has invested massively in the region - almost $90 billion between 2012 and 2017, according to Pompeo -- and intends to fully benefit from the advantages of the Northern Sea Route. The shipping channel, which drastically cuts sailing times between the Pacific and Atlantic by passing north of Russia, is increasingly usable as the ice melts. China and Russia would like to make the Northern Sea Route a part of the New Silk Road project, a vast Chinese investment programme which several countries, especially the US, see as an attempt to gain control. Gao Feng, China's special representative for Arctic affairs, reacted by saying; "He said ... It's a competition of powers. OK, competition? Let's see ... Who can get more friends". In his speech, Pompeo also denounced Russia's "provocative actions", accusing Moscow of wanting to remilitarise the region. "Russia is already leaving snow prints in the form of army boots," he said. Under President Vladimir Putin, Moscow has beefed up its military presence in the region, reopening several bases that were abandoned after the fall of the USSR. The virulence of Pompeo's remarks was noteworthy given the fact he made them just minutes before a bilateral meeting with his Russian counterpart Sergei Lavrov, amid rising US-Russian tensions over Venezuela, among other things. The two smiled and shook hands in front of the assembled media, but refused to answer questions on the nature of their talks. Pompeo later told reporters that he had spoken to Lavrov about Russian interference in US elections, telling the Russian foreign minister that "It's not appropriate. To stifle rival ambitions in the Arctic, the US is "hosting military exercises, strengthening our force presence, rebuilding our icebreaker fleet, (and) expanding Coast Guard funding," Pompeo said. At Congress' request, the Pentagon is to present a new defence strategy for the Arctic by June 1. Hundreds of US Marines already rotate through Norway to carry out cold climate training, and US planes have returned to Iceland's Keflavik airbase, which they left in 2006. Meanwhile, Pompeo also reiterated US claims to be "the world's leader in caring for the environment," saying it would take the lead in the Arctic as well. US carbon dioxide emissions are "on track to drop by nearly half by 2025, the best of any Arctic country," he said. Asked in the plane carrying him to Rovaniemi about the apparent contradiction between the US commitment to protect the Arctic and President Donald Trump's pledge to leave the Paris climate accord, Pompeo said the accord, signed in 2015, had proven its "ineffectiveness".

China's pattern of aggressive behaviour elsewhere informs how it treats the Arctic: Pompeo

The US said that China has back tracked on commitments and trade talks that prompted President Trump to threaten additional Tariffs over the weekend. Watch full video to know more.

US: There's been an ersosion in commitments by China

<a href="https://www.wionews.com/world/china-considers-cancelling-trade-talks-with-us-after-trump-vows-new-tariff-hike-report-216292">China</a> backtracked on substantial commitments it made during <a href="https://www.wionews.com/world/us-china-trade-dilemma-how-to-hold-beijings-feet-to-the-fire-216010">trade talks with the United States</a>, prompting President Donald Trump to impose additional tariffs on Chinese goods slated to go into effect on Friday, top US&nbsp;trade officials said on Monday.

Also read:&nbsp;<a href="https://www.wionews.com/world/explaining-the-us-china-trade-war-which-grabbed-spotlight-in-2018-185043">Explaining the US-China trade war which grabbed spotlight in 2018</a>

The swift deterioration in negotiations between the world`s two largest economies hit global financial markets as investors faced the prospect of an escalation rather than an end to a 10-month-old trade war.

Trump tweeted on Sunday that he would <a href="https://www.wionews.com/world/trump-announces-higher-us-tariffs-on-china-goods-216186">raise tariffs on $200 billion worth of Chinese goods </a>to 25 per cent from 10 per cent by the end of the week, and would "soon" target the remaining Chinese imports with tariffs, sending stocks and oil prices lower on Monday.

US Trade Representative Robert Lighthizer, who has been an advocate for tough structural changes in China, said Beijing had reneged on commitments it had made previously that would have changed the agreement substantially.

"Over the course of the last week or so we have seen ... an erosion in commitments by China," Lighthizer told reporters. "That in our view is unacceptable."

Chinese Vice Premier Liu He is expected to be in Washington on Thursday and Friday of this week for further talks.

"We`re not breaking off talks at this point. But for now ... come Friday there will be tariffs in place," Lighthizer said.

Treasury Secretary Steven Mnuchin, considered to be less hawkish toward China, said China`s backtracking became clear with "new information" over the weekend. He declined to give specifics and said the US&nbsp;side had originally hoped to conclude a deal one way or the other this week.

"They were trying to go back on language that had been previously negotiated, very clear language, that had the potential of changing the deal dramatically," Mnuchin said. "The entire economic team ... are completely unified and recommended to the president to move forward with tariffs if we are not able to conclude a deal by the end of the week."

A spokesman at the Chinese Embassy in Washington did not immediately respond to queries about the US assertions.

"We are also in the process of understanding the relevant situation. What I can tell you is that China`s team is preparing to go to the United States for the discussions," Chinese Foreign Ministry spokesman Gene Shuang said earlier in Beijing. "We still hope the United States can work hard with China to meet each other halfway, and strive to reach a mutually beneficial, win-win agreement on the basis of mutual respect."

TRUCE ENDS

Trump`s Sunday announcement abruptly ended a five-month truce in a trade war that has cost the two countries billions of dollars, slowed global growth and disrupted manufacturing supply chains and US farm exports.

Businesses, while largely supportive of Trump`s tough stance on China, want the tariffs to be lifted. Mnuchin said on Monday that the stock market reaction was not affecting US decisions on the trade talks.&nbsp;

A person familiar with the negotiations said the latest dispute came after the Chinese side sought to deal with policy changes through administrative and regulatory actions, not through changes to Chinese law as previously agreed.

"It undermines the core architecture of the deal," the person said, adding that not codifying the concessions would make it difficult to verify and enforce China`s compliance.

Speaking on condition of anonymity due to the sensitive nature of the talks, the person said that under China's system in which the Communist Party has ultimate control, changes in law are the only way to get even a small measure of certainty.

The United States is demanding sweeping changes to China`s economic policies, including better protection of US intellectual property, and ending forced technology transfers from US companies and cyber theft of American trade secrets.

Washington also wants more access to China`s vast markets for US businesses, curbs on industrial subsidies and increased purchases of American products.

Another source familiar with the situation said Trump had reiterated to advisers in recent days that he would walk away from a trade deal with China if it was not strong enough.

The United States imported about $539.5 billion in goods from China in 2018 and exported $120.3 billion, for a record trade deficit of $419.2 billion, according to US Census Bureau data.

Trump lashed out over the US trade deficit with China on Monday. "With China we lose 500 Billion Dollars. Sorry, we’re not going to be doing that anymore!" he tweeted. Trump has said that China was paying existing US tariffs on Chinese imports into the United States, but in reality, mostly US companies importing the goods pay the tariffs.

The United States currently has 25 per cent tariffs on $50 billion worth of Chinese machinery and technology goods, and 10 per cent tariffs on $200 billion worth of products ranging from computer modems and routers to furniture, lighting and building materials.

Negotiations on removing punitive US tariffs has been one of the remaining sticking points. China wants the tariffs to be removed, while US&nbsp;officials want to keep some, if not all, as part of any final deal to ensure China lives up to its commitments.

Mnuchin, who originally had called the talks in Beijing "productive," said Washington had been in the process of planning a summit between Trump and Chinese President Xi Jinping for a successful deal.

China backtracked on substantial commitments it made during trade talks with the United States, prompting President Donald Trump to impose additional tariffs on Chinese goods slated to go into effect on Friday, top US trade officials said on Monday.

China backtracked on substantial commitments it made during trade talks with the United States, prompting President Donald Trump to impose additional tariffs on Chinese goods slated to go into effect on Friday, top US trade officials said on Monday. Also read: Explaining the US-China trade war which grabbed spotlight in 2018 The swift deterioration in negotiations between the world`s two largest economies hit global financial markets as investors faced the prospect of an escalation rather than an end to a 10-month-old trade war. Trump tweeted on Sunday that he would raise tariffs on $200 billion worth of Chinese goods to 25 per cent from 10 per cent by the end of the week, and would "soon" target the remaining Chinese imports with tariffs, sending stocks and oil prices lower on Monday. US Trade Representative Robert Lighthizer, who has been an advocate for tough structural changes in China, said Beijing had reneged on commitments it had made previously that would have changed the agreement substantially. "Over the course of the last week or so we have seen ... an erosion in commitments by China," Lighthizer told reporters. "That in our view is unacceptable." Chinese Vice Premier Liu He is expected to be in Washington on Thursday and Friday of this week for further talks. "We`re not breaking off talks at this point. But for now ... come Friday there will be tariffs in place," Lighthizer said. Treasury Secretary Steven Mnuchin, considered to be less hawkish toward China, said China`s backtracking became clear with "new information" over the weekend. He declined to give specifics and said the US side had originally hoped to conclude a deal one way or the other this week. "They were trying to go back on language that had been previously negotiated, very clear language, that had the potential of changing the deal dramatically," Mnuchin said. "The entire economic team ... are completely unified and recommended to the president to move forward with tariffs if we are not able to conclude a deal by the end of the week." A spokesman at the Chinese Embassy in Washington did not immediately respond to queries about the US assertions. "We are also in the process of understanding the relevant situation. What I can tell you is that China`s team is preparing to go to the United States for the discussions," Chinese Foreign Ministry spokesman Gene Shuang said earlier in Beijing. "We still hope the United States can work hard with China to meet each other halfway, and strive to reach a mutually beneficial, win-win agreement on the basis of mutual respect." TRUCE ENDS Trump`s Sunday announcement abruptly ended a five-month truce in a trade war that has cost the two countries billions of dollars, slowed global growth and disrupted manufacturing supply chains and US farm exports. Businesses, while largely supportive of Trump`s tough stance on China, want the tariffs to be lifted. Mnuchin said on Monday that the stock market reaction was not affecting US decisions on the trade talks. A person familiar with the negotiations said the latest dispute came after the Chinese side sought to deal with policy changes through administrative and regulatory actions, not through changes to Chinese law as previously agreed. "It undermines the core architecture of the deal," the person said, adding that not codifying the concessions would make it difficult to verify and enforce China`s compliance. Speaking on condition of anonymity due to the sensitive nature of the talks, the person said that under China's system in which the Communist Party has ultimate control, changes in law are the only way to get even a small measure of certainty. The United States is demanding sweeping changes to China`s economic policies, including better protection of US intellectual property, and ending forced technology transfers from US companies and cyber theft of American trade secrets. Washington also wants more access to China`s vast markets for US businesses, curbs on industrial subsidies and increased purchases of American products. Another source familiar with the situation said Trump had reiterated to advisers in recent days that he would walk away from a trade deal with China if it was not strong enough. The United States imported about $539.5 billion in goods from China in 2018 and exported $120.3 billion, for a record trade deficit of $419.2 billion, according to US Census Bureau data. Trump lashed out over the US trade deficit with China on Monday. "With China we lose 500 Billion Dollars. Sorry, we’re not going to be doing that anymore!" he tweeted. Trump has said that China was paying existing US tariffs on Chinese imports into the United States, but in reality, mostly US companies importing the goods pay the tariffs. The United States currently has 25 per cent tariffs on $50 billion worth of Chinese machinery and technology goods, and 10 per cent tariffs on $200 billion worth of products ranging from computer modems and routers to furniture, lighting and building materials. Negotiations on removing punitive US tariffs has been one of the remaining sticking points. China wants the tariffs to be removed, while US officials want to keep some, if not all, as part of any final deal to ensure China lives up to its commitments. Mnuchin, who originally had called the talks in Beijing "productive," said Washington had been in the process of planning a summit between Trump and Chinese President Xi Jinping for a successful deal.

China reneged on trade commitments, sparking Trump tariff hike: US officials

US&nbsp;stocks fell on Monday after President Donald Trump pledged to <a href="https://www.wionews.com/world/us-china-reneged-on-trade-commitments-sparking-trump-tariff-hike-216534">raise tariffs on Chinese goods</a>, though Wall Street finished well off its session lows as some investors saw Trump`s comments as a bargaining tactic and expressed confidence in an eventual trade agreement.

But stock futures dropped sharply following the market close after US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin said China had moved away from commitments made over the course of trade negotiations. S&amp;P e-minis were last down 1.3%.

Also read:&nbsp;<a href="https://www.wionews.com/world/explaining-the-us-china-trade-war-which-grabbed-spotlight-in-2018-185043">Explaining the US-China trade war which grabbed spotlight in 2018</a>

US negotiators are now recommending an increase in tariffs on Chinese goods if a trade agreement is not reached by Friday. Lighthizer said his office would likely post a notice on Tuesday about the planned increase in tariffs on $200 billion worth of Chinese goods to 25% from 10%.

On Sunday, Trump had said an increase in the tariffs would go into effect, reversing a decision he made in February to retain the tariffs at 10% as the United States and China made progress on trade talks.&nbsp;

China said on Monday that a delegation was still preparing to go to the United States, but did not mention if Vice Premier Liu He, its lead official in the negotiations, would be part of the team as originally planned.

Trump`s comments inflamed fears of a slowdown in global growth, which have periodically roiled markets over the past year. The benchmark S&amp;P 500 fell as much as 1.6% during the session while US&nbsp;Treasury yields dropped as investors turned to low-risk government bonds.

Yet the major indexes recovered much of their losses in afternoon trading as some investors remained hopeful that a trade agreement would soon be reached.

"It seems like a negotiating stance," said David Lefkowitz, senior Americas equity strategist at UBS Global Wealth Management`s chief investment office in New York. "Our base case still is that China and the United States do find common ground.

"The probability that there is a negative outcome has probably gone up a little bit, but quantifying that, it`s hard to say," he added.

A rise in healthcare shares helped offset the trade-driven losses. At the Sohn Investment Conference on Monday, Glenview Capital Management Chief Executive Larry Robbins said he favored the sector.

The sector got a further lift as Centene Corp shares rose 6.6% after Reuters reported that two hedge funds have built stakes in the health insurer and are exploring a challenge to its planned acquisition of WellCare Health Plans Inc.

But materials, industrials and technology shares dropped as investors moved away from cyclical and trade-sensitive sectors.

Boeing Co, the single largest US exporter to China, fell 1.3%. Chipmakers, which get a sizable portion of their revenue from China, also tumbled. The Philadelphia chip index slid 1.7%. Apple Inc shares, which have also been sensitive to signs of weakness in China, declined 1.5%.

The Dow Jones Industrial Average fell 66.47 points, or 0.25%, to 26,438.48, the S&amp;P 500 lost 13.17 points, or 0.45%, to 2,932.47 and the Nasdaq Composite dropped 40.71 points, or 0.5%, to 8,123.29.

In a bright spot, Anadarko Petroleum Corp shares rose 3.8% after Occidental Petroleum Corp increased the cash component of its $38 billion bid, removing a need for any deal to receive the approval of Occidental`s shareholders.

Occidental is trying to convince Anadarko to accept its offer and abandon the agreed-upon $33 billion sale to Chevron Corp. Shares of Chevron rose 1.0%.&nbsp;

Declining issues outnumbered advancing ones on the NYSE by a 1.45-to-1 ratio; on Nasdaq, a 1.28-to-1 ratio favored decliners.

The S&amp;P 500 posted 19 new 52-week highs and four new lows; the Nasdaq Composite recorded 69 new highs and 33 new lows.&nbsp;

Volume on US exchanges was 6.45 billion shares, compared to the 6.62 billion average for the full session over the last 20 trading days.

US stocks fell on Monday after President Donald Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump`s comments as a bargaining tactic and expressed confidence in an eventual trade agreement.

US stocks fell on Monday after President Donald Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump`s comments as a bargaining tactic and expressed confidence in an eventual trade agreement. But stock futures dropped sharply following the market close after US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin said China had moved away from commitments made over the course of trade negotiations. S&P e-minis were last down 1.3%. Also read: Explaining the US-China trade war which grabbed spotlight in 2018 US negotiators are now recommending an increase in tariffs on Chinese goods if a trade agreement is not reached by Friday. Lighthizer said his office would likely post a notice on Tuesday about the planned increase in tariffs on $200 billion worth of Chinese goods to 25% from 10%. On Sunday, Trump had said an increase in the tariffs would go into effect, reversing a decision he made in February to retain the tariffs at 10% as the United States and China made progress on trade talks. China said on Monday that a delegation was still preparing to go to the United States, but did not mention if Vice Premier Liu He, its lead official in the negotiations, would be part of the team as originally planned. Trump`s comments inflamed fears of a slowdown in global growth, which have periodically roiled markets over the past year. The benchmark S&P 500 fell as much as 1.6% during the session while US Treasury yields dropped as investors turned to low-risk government bonds. Yet the major indexes recovered much of their losses in afternoon trading as some investors remained hopeful that a trade agreement would soon be reached. "It seems like a negotiating stance," said David Lefkowitz, senior Americas equity strategist at UBS Global Wealth Management`s chief investment office in New York. "Our base case still is that China and the United States do find common ground. "The probability that there is a negative outcome has probably gone up a little bit, but quantifying that, it`s hard to say," he added. A rise in healthcare shares helped offset the trade-driven losses. At the Sohn Investment Conference on Monday, Glenview Capital Management Chief Executive Larry Robbins said he favored the sector. The sector got a further lift as Centene Corp shares rose 6.6% after Reuters reported that two hedge funds have built stakes in the health insurer and are exploring a challenge to its planned acquisition of WellCare Health Plans Inc. But materials, industrials and technology shares dropped as investors moved away from cyclical and trade-sensitive sectors. Boeing Co, the single largest US exporter to China, fell 1.3%. Chipmakers, which get a sizable portion of their revenue from China, also tumbled. The Philadelphia chip index slid 1.7%. Apple Inc shares, which have also been sensitive to signs of weakness in China, declined 1.5%. The Dow Jones Industrial Average fell 66.47 points, or 0.25%, to 26,438.48, the S&P 500 lost 13.17 points, or 0.45%, to 2,932.47 and the Nasdaq Composite dropped 40.71 points, or 0.5%, to 8,123.29. In a bright spot, Anadarko Petroleum Corp shares rose 3.8% after Occidental Petroleum Corp increased the cash component of its $38 billion bid, removing a need for any deal to receive the approval of Occidental`s shareholders. Occidental is trying to convince Anadarko to accept its offer and abandon the agreed-upon $33 billion sale to Chevron Corp. Shares of Chevron rose 1.0%. Declining issues outnumbered advancing ones on the NYSE by a 1.45-to-1 ratio; on Nasdaq, a 1.28-to-1 ratio favored decliners. The S&P 500 posted 19 new 52-week highs and four new lows; the Nasdaq Composite recorded 69 new highs and 33 new lows. Volume on US exchanges was 6.45 billion shares, compared to the 6.62 billion average for the full session over the last 20 trading days.

Wall Street falls as White House plans to raise China tariffs

What happens when the planet's <a href="https://www.wionews.com/world/chinas-top-trade-negotiator-to-visit-us-despite-tariffs-216689">two biggest economies</a> play a high-stakes game of chicken?

The world may be about to find out, with President Donald Trump and his Chinese counterpart Xi Jinping both holding favourable enough economic hands to make it hard to predict who blinks first, analysts said.

Hope for an imminent resolution of the China-US trade dispute dimmed after Trump vowed to further raise import tariffs this week to punish China for what he framed as bad-faith negotiating, rocking world markets.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-fresh-tariffs-on-china-trump-spooks-global-markets-with-a-few-tweets-216519/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Here are some of the key questions regarding the impasse.

Why has Trump turned the screws now?That remains unclear but the president has been known to tout strong US economic data or Wall Street gains as evidence that he is "winning" the trade war and as leverage against China.

Recent developments will have given him ample reason to up the ante.

April data indicated vigorous American job growth, a fresh sign of US economic strength that has helped propel the S&amp;P 500 and Nasdaq stock indices to record highs this month. Last month figures showed the world's top economy grew at a faster pace than expected in the first quarter.

How will China react?Beijing's shrewd communist leaders have been negotiating favourable economic arrangements with the world for decades, and few observers would bet on them suddenly capitulating.

Whatever Xi does, he also has reason to hold firm.

The world's second-largest economy is decelerating from its era of hyper-growth, but it expanded by a better-than-forecast 6.4 per cent in January-March, a sign of stability despite the trade turbulence.

And Chinese stock markets -- among the world's worst in 2018 -- are up significantly this year after Beijing pulled an array of policy and monetary levers to keep the economy chugging.

"Both sides have reason to be confident and ask for more," said Bao Ting, a strategist with Great Wall Securities.

"It's not surprising for negotiations to go back and forth in the final stages" as the two sides drill down on nitty-gritty details, she added.

So whose hand is stronger?Probably Trump's, analysts say, because Xi faces a challenge maintaining the economic growth on which the government stakes its ruling legitimacy, while also implementing tricky reform of inefficient state industries.

Of particular concern is a fresh spike in debt this year as Chinese authorities have relied heavily on eased credit restrictions to juice the economy while they battle Trump's trade pressure.

The International Monetary Fund has previously called China's debt addiction "dangerous".&nbsp;

"This massive credit stimulus has stabilised China’s economy for now but the impact is unlikely to be long-lasting or without complication," said Brock Silvers, managing director of Kaiyuan Capital in Shanghai.

"China could soon regret a missed chance to end to what looks to be a worsening and increasingly risky trade war."

But China has for years used a flood of credit and targeted pump-priming to keep its economic miracle going, and today stands taller than ever.

"That gives China a lot of strength. They have many different ways of keeping things churning," said Christopher Balding, an expert on China's economy at Fulbright University in Ho Chi Minh City.

What if neither side blinks?Stocks fell worldwide after Trump's tariff threat, and an extension of the already lengthy trade standoff could spell more pain.

"If they fail to reach an agreement, China's economy would worsen and global economic growth would slow down," said Bao.

Much depends on whether China retaliates against Trump's move.

China is already wary over escalating the fight and seems unlikely to hit back with more tariffs at the moment and may favour yet more stimulus measures, said Tao Wang, head of China research for UBS.

But that could change. "Certainly the risk of an all-out US-China trade war has increased significantly," Tao said.

China said Tuesday its top negotiator, Vice Premier Liu He, would attend the talks in Washington this week, which Goldman Sachs said in a research note, "would indicate that they believe a deal is still reasonably likely".

Will China ever meet overall US demands?Key US demands include greater access to China's markets, broad reform of a business playing field that heavily favours Chinese firms, and a loosening of heavy state control by Beijing.

But those are the very policies that abetted China's stunning economic rise, and Beijing is unlikely to surrender them, said Balding.

"This is a fundamental clash of worldviews between a capitalist, open economy and a closed communist one," Balding said.

"There aren't a lot of ways to square that circle."

Asking for the moon may just be Trump's "Art of the Deal" approach to securing at least something that he can tout heading into elections next year.

What happens when the planet's two biggest economies play a high-stakes game of chicken? The world may be about to find out, with President Donald Trump and his Chinese counterpart Xi Jinping both holding favourable enough economic hands to make it hard to predict who blinks first, analysts said.

What happens when the planet's two biggest economies play a high-stakes game of chicken? The world may be about to find out, with President Donald Trump and his Chinese counterpart Xi Jinping both holding favourable enough economic hands to make it hard to predict who blinks first, analysts said. Hope for an imminent resolution of the China-US trade dispute dimmed after Trump vowed to further raise import tariffs this week to punish China for what he framed as bad-faith negotiating, rocking world markets. Here are some of the key questions regarding the impasse. Why has Trump turned the screws now?That remains unclear but the president has been known to tout strong US economic data or Wall Street gains as evidence that he is "winning" the trade war and as leverage against China. Recent developments will have given him ample reason to up the ante. April data indicated vigorous American job growth, a fresh sign of US economic strength that has helped propel the S&P 500 and Nasdaq stock indices to record highs this month. Last month figures showed the world's top economy grew at a faster pace than expected in the first quarter. How will China react?Beijing's shrewd communist leaders have been negotiating favourable economic arrangements with the world for decades, and few observers would bet on them suddenly capitulating. Whatever Xi does, he also has reason to hold firm. The world's second-largest economy is decelerating from its era of hyper-growth, but it expanded by a better-than-forecast 6.4 per cent in January-March, a sign of stability despite the trade turbulence. And Chinese stock markets -- among the world's worst in 2018 -- are up significantly this year after Beijing pulled an array of policy and monetary levers to keep the economy chugging. "Both sides have reason to be confident and ask for more," said Bao Ting, a strategist with Great Wall Securities. "It's not surprising for negotiations to go back and forth in the final stages" as the two sides drill down on nitty-gritty details, she added. So whose hand is stronger?Probably Trump's, analysts say, because Xi faces a challenge maintaining the economic growth on which the government stakes its ruling legitimacy, while also implementing tricky reform of inefficient state industries. Of particular concern is a fresh spike in debt this year as Chinese authorities have relied heavily on eased credit restrictions to juice the economy while they battle Trump's trade pressure. The International Monetary Fund has previously called China's debt addiction "dangerous". "This massive credit stimulus has stabilised China’s economy for now but the impact is unlikely to be long-lasting or without complication," said Brock Silvers, managing director of Kaiyuan Capital in Shanghai. "China could soon regret a missed chance to end to what looks to be a worsening and increasingly risky trade war." But China has for years used a flood of credit and targeted pump-priming to keep its economic miracle going, and today stands taller than ever. "That gives China a lot of strength. They have many different ways of keeping things churning," said Christopher Balding, an expert on China's economy at Fulbright University in Ho Chi Minh City. What if neither side blinks?Stocks fell worldwide after Trump's tariff threat, and an extension of the already lengthy trade standoff could spell more pain. "If they fail to reach an agreement, China's economy would worsen and global economic growth would slow down," said Bao. Much depends on whether China retaliates against Trump's move. China is already wary over escalating the fight and seems unlikely to hit back with more tariffs at the moment and may favour yet more stimulus measures, said Tao Wang, head of China research for UBS. But that could change. "Certainly the risk of an all-out US-China trade war has increased significantly," Tao said. China said Tuesday its top negotiator, Vice Premier Liu He, would attend the talks in Washington this week, which Goldman Sachs said in a research note, "would indicate that they believe a deal is still reasonably likely". Will China ever meet overall US demands?Key US demands include greater access to China's markets, broad reform of a business playing field that heavily favours Chinese firms, and a loosening of heavy state control by Beijing. But those are the very policies that abetted China's stunning economic rise, and Beijing is unlikely to surrender them, said Balding. "This is a fundamental clash of worldviews between a capitalist, open economy and a closed communist one," Balding said. "There aren't a lot of ways to square that circle." Asking for the moon may just be Trump's "Art of the Deal" approach to securing at least something that he can tout heading into elections next year.

Donald Trump, Xi Jinping and trade: A high-stakes game of chicken

Oil prices tumbled by more than 2 per cent on Monday after US President Donald Trump on Sunday said he would <a href="https://www.wionews.com/world/trump-announces-higher-us-tariffs-on-china-goods-216186">sharply hike tariffs on Chinese goods</a> this week, risking derailing months of trade talks between the world's two biggest economies.

US West Texas Intermediate (WTI) crude futures were at $60.44 per barrel at 0032 GMT on Monday, down $1.50 per barrel, or 2.4 per cent, from their last settlement.

Brent crude oil futures were at $69.34 per barrel, down $1.51 per barrel, or 2.1 per cent, from their last close.

Trump on Sunday said on Twitter he would drastically hike US tariffs on Chinese goods this week, pulling down global financial markets, including crude oil futures.

The Wall Street Journal reported that Beijing is considering cancelling all trade talks with Washington.

"Trump has taken the proverbial sledgehammer to the walnut this morning ... by threatening to slap a 25 per cent tariff on a mind-boggling $525 billion of Chinese goods by this Friday," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore.

Within the oil industry, there are signs of a further rise in output from the United States, where crude production has already surged by more than 2 million barrels per day (bpd) since early 2018, to a record 12.3 million bpd. That has made the United States the world's biggest producer ahead of Russia and Saudi Arabia.

The number of rigs drilling for gas in the United States fell by 3 to 183 in the week to May 3, while oil-directed drilling rigs rose by 2 to 807, data from oil services firm Baker Hughes showed on Friday.

Oil prices tumbled by more than 2 per cent on Monday after US President Donald Trump on Sunday said he would sharply hike tariffs on Chinese goods this week, risking derailing months of trade talks between the world's two biggest economies.

Oil prices tumbled by more than 2 per cent on Monday after US President Donald Trump on Sunday said he would sharply hike tariffs on Chinese goods this week, risking derailing months of trade talks between the world's two biggest economies. US West Texas Intermediate (WTI) crude futures were at $60.44 per barrel at 0032 GMT on Monday, down $1.50 per barrel, or 2.4 per cent, from their last settlement. Brent crude oil futures were at $69.34 per barrel, down $1.51 per barrel, or 2.1 per cent, from their last close. Trump on Sunday said on Twitter he would drastically hike US tariffs on Chinese goods this week, pulling down global financial markets, including crude oil futures. The Wall Street Journal reported that Beijing is considering cancelling all trade talks with Washington. "Trump has taken the proverbial sledgehammer to the walnut this morning ... by threatening to slap a 25 per cent tariff on a mind-boggling $525 billion of Chinese goods by this Friday," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. Within the oil industry, there are signs of a further rise in output from the United States, where crude production has already surged by more than 2 million barrels per day (bpd) since early 2018, to a record 12.3 million bpd. That has made the United States the world's biggest producer ahead of Russia and Saudi Arabia. The number of rigs drilling for gas in the United States fell by 3 to 183 in the week to May 3, while oil-directed drilling rigs rose by 2 to 807, data from oil services firm Baker Hughes showed on Friday.

Oil prices tumble by more than 2% after Trump announces new tariffs on Chinese goods

US and Chinese officials say a historic deal ending their ongoing trade war could be imminent, but a key question is how can Washington be sure Beijing will live up to its end of the bargain?

With up to 100 Chinese officials reportedly expected next week in Washington, with the possibility of unveiling a grand agreement after months of tensions, that question is hanging over the talks.

Beijing may make eye-popping offers to buy American energy and agriculture exports as a means of cutting the soaring US-China trade deficit ($378.7 billion in 2018, including services trade), but all eyes will be on whether the agreement has any teeth.

US Vice President Mike Pence said Friday the enforcement mechanism would be key to the decision on whether to remove the punishing US tariffs which now cover more than $250 billion in Chinese imports.

"The reason enforcement has become central to this negotiation is the long history of China not living up to the spirit of the commitments it has made in the WTO and in bilateral negotiations with the US and other countries," Edward Alden, a trade expert at the Council on Foreign Relations, told AFP.

US President Donald Trump has repeatedly accused China of stealing from the United States by buying less from America than it sells.

But Trump also has demanded structural changes to the Chinese economy, including an end to the forced transfer of American technology, theft of intellectual property and the massive role the Chinese government plays in markets and industry.

US Trade Representative Robert Lighthizer, who is leading the US delegation along with Treasury Secretary Steven Mnuchin, has insisted Washington will not accept empty promises and will demand verification Beijing is keeping its word.

Reaching trade agreements with China can be especially challenging, given that its regulations are not transparent, Alden said.

"China can change its laws in ways that please the United States, but then use regulatory tools to thwart implementation."

'That's the core'

To ensure strict compliance, US negotiators have proposed monthly, quarterly and semi-annual meetings, with the twice-yearly meetings to involving the most senior officials.

And should American businesses report violations of the agreement, Washington could begin a series of consultations with their Chinese counterparts, and then unilaterally impose new tariffs if no resolution is achieved, according to US media reports.

But China also would have recourse to the same tariff tool in case of a US violation.

"The enforcement mechanism is crucial to the agreement," Doug Barry, spokesman for the US-China Business Council, told AFP.

"Without a credible, time specific, verifiable means to hold parties accountable, we will miss an opportunity to put the trade relationship on a new and better footing."

Alden says the tool under discussion appears novel because bilateral free trade agreements typically resolve disputes through arbitration panels which oversee retaliatory tariffs, similar to the World Trade Organization dispute settlement process.

Businesses on both sides of the Pacific want the talks to wrap up as soon as possible to reduce uncertainty in international commerce at a time when the trade war has weighed on manufacturing sectors in both countries.

Among the top 15 US states exporting to China, many have been hit hard by China's retaliatory tariffs on soy, pork or in the aviation sector, including Alabama, Illinois and Washington State, according to the US-China Business Council.

Companies are calling for the tariffs imposed last year -- which cover more than $360 billion in two-way trade -- to be lifted.

But Washington hopes to retain the ability to resort to tariffs as a cudgel.

"We have to maintain the right to be able to -- whatever happens to the current tariffs -- to raise tariffs in situations where there are violations of the agreement," Lighthizer said in Senate testimony in March.

"That's the core. If we don't do that, then none of it makes any difference."

But, according to Alden, that could create "ongoing uncertainty" for businesses unaware of when either side could seek to impose unilateral tariffs.

US and Chinese officials say a historic deal ending their ongoing trade war could be imminent, but a key question is how can Washington be sure Beijing will live up to its end of the bargain?

US and Chinese officials say a historic deal ending their ongoing trade war could be imminent, but a key question is how can Washington be sure Beijing will live up to its end of the bargain? With up to 100 Chinese officials reportedly expected next week in Washington, with the possibility of unveiling a grand agreement after months of tensions, that question is hanging over the talks. Beijing may make eye-popping offers to buy American energy and agriculture exports as a means of cutting the soaring US-China trade deficit ($378.7 billion in 2018, including services trade), but all eyes will be on whether the agreement has any teeth. US Vice President Mike Pence said Friday the enforcement mechanism would be key to the decision on whether to remove the punishing US tariffs which now cover more than $250 billion in Chinese imports. "The reason enforcement has become central to this negotiation is the long history of China not living up to the spirit of the commitments it has made in the WTO and in bilateral negotiations with the US and other countries," Edward Alden, a trade expert at the Council on Foreign Relations, told AFP. US President Donald Trump has repeatedly accused China of stealing from the United States by buying less from America than it sells. But Trump also has demanded structural changes to the Chinese economy, including an end to the forced transfer of American technology, theft of intellectual property and the massive role the Chinese government plays in markets and industry. US Trade Representative Robert Lighthizer, who is leading the US delegation along with Treasury Secretary Steven Mnuchin, has insisted Washington will not accept empty promises and will demand verification Beijing is keeping its word. Reaching trade agreements with China can be especially challenging, given that its regulations are not transparent, Alden said. "China can change its laws in ways that please the United States, but then use regulatory tools to thwart implementation." 'That's the core' To ensure strict compliance, US negotiators have proposed monthly, quarterly and semi-annual meetings, with the twice-yearly meetings to involving the most senior officials. And should American businesses report violations of the agreement, Washington could begin a series of consultations with their Chinese counterparts, and then unilaterally impose new tariffs if no resolution is achieved, according to US media reports. But China also would have recourse to the same tariff tool in case of a US violation. "The enforcement mechanism is crucial to the agreement," Doug Barry, spokesman for the US-China Business Council, told AFP. "Without a credible, time specific, verifiable means to hold parties accountable, we will miss an opportunity to put the trade relationship on a new and better footing." Alden says the tool under discussion appears novel because bilateral free trade agreements typically resolve disputes through arbitration panels which oversee retaliatory tariffs, similar to the World Trade Organization dispute settlement process. Businesses on both sides of the Pacific want the talks to wrap up as soon as possible to reduce uncertainty in international commerce at a time when the trade war has weighed on manufacturing sectors in both countries. Among the top 15 US states exporting to China, many have been hit hard by China's retaliatory tariffs on soy, pork or in the aviation sector, including Alabama, Illinois and Washington State, according to the US-China Business Council. Companies are calling for the tariffs imposed last year -- which cover more than $360 billion in two-way trade -- to be lifted. But Washington hopes to retain the ability to resort to tariffs as a cudgel. "We have to maintain the right to be able to -- whatever happens to the current tariffs -- to raise tariffs in situations where there are violations of the agreement," Lighthizer said in Senate testimony in March. "That's the core. If we don't do that, then none of it makes any difference." But, according to Alden, that could create "ongoing uncertainty" for businesses unaware of when either side could seek to impose unilateral tariffs.

US-China trade dilemma: How to hold Beijing's feet to the fire

The UN declaring Jaish-e-Mohammed chief<a href="https://www.wionews.com/south-asia/masood-azhar-named-global-terrorist-how-it-will-affect-the-jem-chief-215077"> </a><a href="https://www.wionews.com/pakistan/jem-chief-masood-azhar-designated-as-a-global-terrorist-in-un-sanctions-list-215076">Masood Azhar a global terrorist</a> demonstrates an international commitment to rooting out terrorism in Pakistan and bringing security and stability to South Asia, the Trump administration said Wednesday, expressing hope that Islamabad will take sustained and irreversible action against terror groups operating from its soil.

Welcoming <a href="https://www.wionews.com/world/found-no-objection-to-list-azhar-after-studying-revised-materials-china-215122">China's decision to lift its hold on the proposal</a> to blacklist the Pakistan-based JeM chief, a senior Trump administration official during a conference call with reporters said after 10 years China has done the right thing by lifting its blockade.

"I think China seems to have understood that it was increasingly important that its actions on the international stage on terrorism matched its rhetoric," the White House official said on the condition of anonymity.

Pulwama attack, the official noted was just the latest in the terrorist attacks that this "deadly group"&nbsp;has conducted.

"Designating Azhar demonstrates an international commitment to rooting out terrorism in Pakistan and bringing security and stability to South Asia," the official said, adding that this designation is critically important and it was a long time coming.

This designation, the official said, is in line with Pakistan Prime Minister Imran Khan's stated commitment to crack down on militancy inside Pakistan and his acknowledgement that prosperity and development in Pakistan are contingent on maintaining regional stability.

"So we acknowledged that this designation is a good step forward and we look forward to how Pakistan would use this international designation press forward on its own stated commitment,"&nbsp;the official said.

"The US will continue to monitor the situation in Pakistan to determine whether the recent positive statements from the prime minister will translate into irreversible steps"&nbsp;to end terrorist and militant safe haven inside Pakistan," the official said.

"All too often the world has seen a familiar pattern of Pakistan taking temporary steps against militants following immediately terrorist attacks, only to reverse those positive steps a few months later when the heat is off," the official said, adding that the history of the effort behind this listing demonstrates Pakistan has in the past been reluctant to divorce itself from terrorist proxy groups.

"China's willingness to shield Pakistan in these policies has been unhelpful to establishing regional stability. China acting on behalf of Pakistan has prevented the designation of Azhar on multiple occasions over the last decade,"&nbsp;the senior administration official alleged.

The official noted that this listing that will help to "avoid a re-escalation"&nbsp;of India-Pak tension, by holding Pakistan accountable on its international obligations.

"This designation serves as a forcing function for Pakistan, to implement their stated commitments to peace and stability and to rooting out terrorism from Pakistani soil."

"We have seen Pakistan taking some steps against Jaish-e-Mohammed following the Pulwama attack. However, there are additional steps that Pakistan could take to show an irreversible commitment and to permanently put these kinds of groups out of business,"&nbsp;the official said.

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Lashkar-e-Taiba and Haqqani networks are the other two groups among others, the official said.

"These steps could include things like arresting leaders and disrupting their ability to communicate and travel and shutting down affiliated businesses like their charity wings," the US official demanded.

"We remain hopeful that Pakistan will continue to move in this direction and that today's designation will assist in that effort,"&nbsp;said the senior administration official.

Responding to questions, the two senior officials who briefed reporters did not give any insight into why reference to Pulwama attack was taken off from the final resolution.

The officials said they would not go into the internal deliberations at the UN Security Council.

"China probably came to the conclusion that it needed to do the right thing, be on the right side. And that it can no longer afford for the sake of its international reputation to continue blocking what it was so obvious that down this was a deadly group and that leader is responsible for these deadly attacks,"&nbsp;the official said.

"China came to realise that it should match its action on international terrorism. This was the culmination of a 10 years process," the official said.&nbsp;

The UN declaring Jaish-e-Mohammed chief Masood Azhar a global terrorist demonstrates an international commitment to rooting out terrorism in Pakistan and bringing security and stability to South Asia, the Trump administration said Wednesday, expressing hope that Islamabad will take sustained and irreversible action against terror groups operating from its soil.

The UN declaring Jaish-e-Mohammed chief Masood Azhar a global terrorist demonstrates an international commitment to rooting out terrorism in Pakistan and bringing security and stability to South Asia, the Trump administration said Wednesday, expressing hope that Islamabad will take sustained and irreversible action against terror groups operating from its soil. Welcoming China's decision to lift its hold on the proposal to blacklist the Pakistan-based JeM chief, a senior Trump administration official during a conference call with reporters said after 10 years China has done the right thing by lifting its blockade. "I think China seems to have understood that it was increasingly important that its actions on the international stage on terrorism matched its rhetoric," the White House official said on the condition of anonymity. Pulwama attack, the official noted was just the latest in the terrorist attacks that this "deadly group" has conducted. "Designating Azhar demonstrates an international commitment to rooting out terrorism in Pakistan and bringing security and stability to South Asia," the official said, adding that this designation is critically important and it was a long time coming. This designation, the official said, is in line with Pakistan Prime Minister Imran Khan's stated commitment to crack down on militancy inside Pakistan and his acknowledgement that prosperity and development in Pakistan are contingent on maintaining regional stability. "So we acknowledged that this designation is a good step forward and we look forward to how Pakistan would use this international designation press forward on its own stated commitment," the official said. "The US will continue to monitor the situation in Pakistan to determine whether the recent positive statements from the prime minister will translate into irreversible steps" to end terrorist and militant safe haven inside Pakistan," the official said. "All too often the world has seen a familiar pattern of Pakistan taking temporary steps against militants following immediately terrorist attacks, only to reverse those positive steps a few months later when the heat is off," the official said, adding that the history of the effort behind this listing demonstrates Pakistan has in the past been reluctant to divorce itself from terrorist proxy groups. "China's willingness to shield Pakistan in these policies has been unhelpful to establishing regional stability. China acting on behalf of Pakistan has prevented the designation of Azhar on multiple occasions over the last decade," the senior administration official alleged. The official noted that this listing that will help to "avoid a re-escalation" of India-Pak tension, by holding Pakistan accountable on its international obligations. "This designation serves as a forcing function for Pakistan, to implement their stated commitments to peace and stability and to rooting out terrorism from Pakistani soil." "We have seen Pakistan taking some steps against Jaish-e-Mohammed following the Pulwama attack. However, there are additional steps that Pakistan could take to show an irreversible commitment and to permanently put these kinds of groups out of business," the official said. × Lashkar-e-Taiba and Haqqani networks are the other two groups among others, the official said. "These steps could include things like arresting leaders and disrupting their ability to communicate and travel and shutting down affiliated businesses like their charity wings," the US official demanded. "We remain hopeful that Pakistan will continue to move in this direction and that today's designation will assist in that effort," said the senior administration official. Responding to questions, the two senior officials who briefed reporters did not give any insight into why reference to Pulwama attack was taken off from the final resolution. The officials said they would not go into the internal deliberations at the UN Security Council. "China probably came to the conclusion that it needed to do the right thing, be on the right side. And that it can no longer afford for the sake of its international reputation to continue blocking what it was so obvious that down this was a deadly group and that leader is responsible for these deadly attacks," the official said. "China came to realise that it should match its action on international terrorism. This was the culmination of a 10 years process," the official said.

After 10 years, China has done the right thing: White House official on UN listing Masood Azhar as global terrorist

A former CIA officer could spend the rest of his life behind bars after pleading guilty on Wednesday to <a href="https://www.wionews.com/world/us-diplomat-pleads-guilty-in-china-spying-case-213309">spying for China</a>, the Justice Department said.

Jerry Chun Shing Lee, 54, was arrested in January 2018, suspected of having provided information on a CIA network of informants that was brought down by China between 2010 and 2012.

Lee pleaded guilty before a US District Court judge in the Eastern District of Virginia to conspiring to provide national defence information to China, the Justice Department said in a statement.

Lee, a former CIA case officer, left the Central Intelligence Agency in 2007 and moved to Hong Kong.

According to the Justice Department, he was approached by two Chinese intelligence officers in April 2010.

They offered to pay Lee $100,000 for information and to take care of him "for life" in exchange for his cooperation, it said.

The Justice Department said that in May 2010, Lee created a document on his laptop that described where the CIA assigns officers and the "particular location and timeframe of a sensitive CIA operation."

It said the FBI had also recovered handwritten notes made by Lee related to his work for the CIA.

"These notes included, among other things, intelligence provided by CIA assets, true names of assets, operational meeting locations and phone numbers and information about covert facilities," the Justice Department said.

John Brown, the FBI's assistant director for counterintelligence, said that Lee's actions had "dangerous ramifications."

"By knowingly aiding a foreign government, Mr Lee put our country's national security at serious risk and also threatened the safety and personal security of innocent people, namely his former intelligence colleagues," Brown said.

Ron Rockwell Hansen, 58, a former Defence Intelligence Agency official, faces 15 years in prison when he is sentenced later this year under a guilty plea to a charge of attempting to sell classified information to China.

Former State Department official Kevin Mallory was arrested in 2017 for spying for China.

And another US diplomat, Candace Marie Claiborne, was also arrested recently for taking money from Chinese intelligence officials, though she was not directly accused of supplying information in exchange.

FBI Director Christopher Wray said last week that China poses the most serious intelligence threat to the United States.

Speaking at the Council on Foreign Relations (CFR) in Washington, Wray said China poses a "multi-layered" threat to US interests.

"They're doing it through Chinese intelligence services, through state-owned enterprises, through ostensibly private companies, through graduate students and researchers, through a variety of actors all working on behalf of China," he said.

Lee is to be sentenced on August 23. He faces a maximum sentence of life in prison.

A former CIA officer could spend the rest of his life behind bars after pleading guilty on Wednesday to spying for China, the Justice Department said. Jerry Chun Shing Lee, 54, was arrested in January 2018, suspected of having provided information on a CIA network of informants that was brought down by China between 2010 and 2012.

A former CIA officer could spend the rest of his life behind bars after pleading guilty on Wednesday to spying for China, the Justice Department said. Jerry Chun Shing Lee, 54, was arrested in January 2018, suspected of having provided information on a CIA network of informants that was brought down by China between 2010 and 2012. Lee pleaded guilty before a US District Court judge in the Eastern District of Virginia to conspiring to provide national defence information to China, the Justice Department said in a statement. Lee, a former CIA case officer, left the Central Intelligence Agency in 2007 and moved to Hong Kong. According to the Justice Department, he was approached by two Chinese intelligence officers in April 2010. They offered to pay Lee $100,000 for information and to take care of him "for life" in exchange for his cooperation, it said. The Justice Department said that in May 2010, Lee created a document on his laptop that described where the CIA assigns officers and the "particular location and timeframe of a sensitive CIA operation." It said the FBI had also recovered handwritten notes made by Lee related to his work for the CIA. "These notes included, among other things, intelligence provided by CIA assets, true names of assets, operational meeting locations and phone numbers and information about covert facilities," the Justice Department said. John Brown, the FBI's assistant director for counterintelligence, said that Lee's actions had "dangerous ramifications." "By knowingly aiding a foreign government, Mr Lee put our country's national security at serious risk and also threatened the safety and personal security of innocent people, namely his former intelligence colleagues," Brown said. Ron Rockwell Hansen, 58, a former Defence Intelligence Agency official, faces 15 years in prison when he is sentenced later this year under a guilty plea to a charge of attempting to sell classified information to China. Former State Department official Kevin Mallory was arrested in 2017 for spying for China. And another US diplomat, Candace Marie Claiborne, was also arrested recently for taking money from Chinese intelligence officials, though she was not directly accused of supplying information in exchange. FBI Director Christopher Wray said last week that China poses the most serious intelligence threat to the United States. Speaking at the Council on Foreign Relations (CFR) in Washington, Wray said China poses a "multi-layered" threat to US interests. "They're doing it through Chinese intelligence services, through state-owned enterprises, through ostensibly private companies, through graduate students and researchers, through a variety of actors all working on behalf of China," he said. Lee is to be sentenced on August 23. He faces a maximum sentence of life in prison.

Former CIA officer Jerry Chun Shing Lee pleads guilty to spying for China

Top US and Chinese<a href="https://www.wionews.com/world/mike-pompeo-confident-china-trade-talks-will-not-be-hurt-over-iran-oil-sanctions-214566"> trade negotiators resumed</a> talks on Wednesday as they an eye an endgame to a months-long dispute that has hit businesses with bruising tariffs.

Vice Premier Liu He, a close aide to President Xi Jinping on economic matters, greeted US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to begin what the US side has described as a decisive phase in the talks.

The world's two leading economies have exchanged tariffs on $360 billion worth of goods since President Donald Trump launched a trade war last year.

Mnuchin and Lighthizer exchanged pleasantries with Liu when they arrived at the Diaoyutai state guest house on Wednesday, with the US treasury chief pointing to his red tie and smiling at the vice premier, who wore the same colour.

"Morning. Good to see you," Liu told the Americans, to which Mnuchin replied: "Nice to see you. It's good to be back here." Mnuchin told reporters earlier that he had a "nice" working dinner with Liu on Tuesday night.

Liu is expected to head to Washington on May 8th for further talks.

The US side is pressing China to overhaul its industrial policy by further opening its market to foreign firms, stopping massive subsidies to domestic companies and curbing the alleged theft of American technology.

Beijing has made public displays of concessions, with Xi last week saying China would abolish "unjustified regulations, subsidies and practices that impede fair competition and distort the market".

China has also passed a foreign investment law that promises to protect the intellectual property of overseas companies.

The Financial Times reported on Wednesday that Trump was dropping a key demand in the negotiations, with the US likely to accept a watered-down commitment from China on commercial cyber theft.

Such a concession could remove a major obstacle for a final deal in the fraught talks.

Mnuchin said earlier this week that the sides were close to agreement on tough enforcement provisions in any trade pact.

He also said the talks were in a decisive phase, telling the Fox Business channel "there's a strong desire from both sides to see if we can wrap this up or move on".

"We hope within the next two rounds -- in China and in DC -- to be at the point where we can either recommend to the president we have a deal or make a recommendation that we don't," he said. 
&nbsp;

Top US and Chinese trade negotiators resumed talks on Wednesday as they an eye an endgame to a months-long dispute that has hit businesses with bruising tariffs.

Top US and Chinese trade negotiators resumed talks on Wednesday as they an eye an endgame to a months-long dispute that has hit businesses with bruising tariffs. Vice Premier Liu He, a close aide to President Xi Jinping on economic matters, greeted US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to begin what the US side has described as a decisive phase in the talks. The world's two leading economies have exchanged tariffs on $360 billion worth of goods since President Donald Trump launched a trade war last year. Mnuchin and Lighthizer exchanged pleasantries with Liu when they arrived at the Diaoyutai state guest house on Wednesday, with the US treasury chief pointing to his red tie and smiling at the vice premier, who wore the same colour. "Morning. Good to see you," Liu told the Americans, to which Mnuchin replied: "Nice to see you. It's good to be back here." Mnuchin told reporters earlier that he had a "nice" working dinner with Liu on Tuesday night. Liu is expected to head to Washington on May 8th for further talks. The US side is pressing China to overhaul its industrial policy by further opening its market to foreign firms, stopping massive subsidies to domestic companies and curbing the alleged theft of American technology. Beijing has made public displays of concessions, with Xi last week saying China would abolish "unjustified regulations, subsidies and practices that impede fair competition and distort the market". China has also passed a foreign investment law that promises to protect the intellectual property of overseas companies. The Financial Times reported on Wednesday that Trump was dropping a key demand in the negotiations, with the US likely to accept a watered-down commitment from China on commercial cyber theft. Such a concession could remove a major obstacle for a final deal in the fraught talks. Mnuchin said earlier this week that the sides were close to agreement on tough enforcement provisions in any trade pact. He also said the talks were in a decisive phase, telling the Fox Business channel "there's a strong desire from both sides to see if we can wrap this up or move on". "We hope within the next two rounds -- in China and in DC -- to be at the point where we can either recommend to the president we have a deal or make a recommendation that we don't," he said.

Good to see you, says Chinese negotiator to Mnuchin as US-China trade talks enter final lap

Washington does not see any distinction between core and non-core parts of 5G networks and will reassess sharing information with any allies which use equipment made by China's Huawei, a US&nbsp;cybersecurity official said on Monday.

"It is the United States' position that putting Huawei or any other untrustworthy vendor in any part of the 5G telecommunications network is a risk," said Robert Strayer, deputy assistant secretary for cyber, international communications and information policy at the State Department.

"If other countries insert and allow untrusted vendors to build out and become the vendors for their 5G networks we will have to reassess the ability for us to share information and be connected with them in the ways that we are today," he said.

Sources told Reuters last week that Britain's National Security Council had decided to bar China's Huawei Technologies from all core parts of the 5G network but still allow it in non-core parts with some increased restrictions.

Washington does not see any distinction between core and non-core parts of 5G networks and will reassess sharing information with any allies which use equipment made by China's Huawei, a US cybersecurity official said on Monday.

Washington does not see any distinction between core and non-core parts of 5G networks and will reassess sharing information with any allies which use equipment made by China's Huawei, a US cybersecurity official said on Monday. "It is the United States' position that putting Huawei or any other untrustworthy vendor in any part of the 5G telecommunications network is a risk," said Robert Strayer, deputy assistant secretary for cyber, international communications and information policy at the State Department. "If other countries insert and allow untrusted vendors to build out and become the vendors for their 5G networks we will have to reassess the ability for us to share information and be connected with them in the ways that we are today," he said. Sources told Reuters last week that Britain's National Security Council had decided to bar China's Huawei Technologies from all core parts of the 5G network but still allow it in non-core parts with some increased restrictions.

US will rethink cooperation with allies who use Huawei: Official

China on Monday lashed out at the United States for voicing alarm over the jailing of leaders of Hong Kong's democracy movement, calling Washington's comments a "gross interference".&nbsp;

Four prominent activists were last week jailed for their role in the 2014 Umbrella Movement protests, which paralysed Hong Kong's central business district for months and infuriated Beijing with its show of anger over the city's leadership and direction.

The US State Department on Friday said it was "disappointed" by the jailing and called on the city to respect residents' rights to freedom of speech and peaceful assembly.&nbsp;

"We expressed strong dissatisfaction and resolute opposition to these comments," Chinese foreign ministry spokesman Geng Shuang said at a regular press briefing.

"China urges the US to respect China's sovereignty, respect the rule of law in Hong Kong, respect the judicial independence that the US claims is important, and stop interfering in Hong Kong's internal affairs in any form," Geng said.

"It is a gross interference in China's internal affairs and the internal affairs of the Hong Kong SAR (special administrative region)."

The United States last week also voiced concern over Hong Kong's plans for an extradition treaty with mainland China, under which residents of the international financial hub could become entangled in the communist nation's opaque courts.

Geng defended the policy, calling it necessary to avoid the city turning into a "sanctuary" for fugitives.&nbsp;

Hong Kong enjoys rights unseen in mainland China, but activists have warned of a steady erosion of freedoms.

China on Monday lashed out at the United States for voicing alarm over the jailing of leaders of Hong Kong's democracy movement, calling Washington's comments a "gross interference".

China on Monday lashed out at the United States for voicing alarm over the jailing of leaders of Hong Kong's democracy movement, calling Washington's comments a "gross interference". Four prominent activists were last week jailed for their role in the 2014 Umbrella Movement protests, which paralysed Hong Kong's central business district for months and infuriated Beijing with its show of anger over the city's leadership and direction. The US State Department on Friday said it was "disappointed" by the jailing and called on the city to respect residents' rights to freedom of speech and peaceful assembly. "We expressed strong dissatisfaction and resolute opposition to these comments," Chinese foreign ministry spokesman Geng Shuang said at a regular press briefing. "China urges the US to respect China's sovereignty, respect the rule of law in Hong Kong, respect the judicial independence that the US claims is important, and stop interfering in Hong Kong's internal affairs in any form," Geng said. "It is a gross interference in China's internal affairs and the internal affairs of the Hong Kong SAR (special administrative region)." The United States last week also voiced concern over Hong Kong's plans for an extradition treaty with mainland China, under which residents of the international financial hub could become entangled in the communist nation's opaque courts. Geng defended the policy, calling it necessary to avoid the city turning into a "sanctuary" for fugitives. Hong Kong enjoys rights unseen in mainland China, but activists have warned of a steady erosion of freedoms.

US comments on Hong Kong 'gross interference': China

A French warship passed through the strategic <a href="https://www.wionews.com/world/us-warships-pass-through-taiwan-strait-amid-china-tensions-192610">Taiwan Strait&nbsp;this month</a> as France on Thursday reaffirmed its commitment to "freedom of navigation under maritime law" following a spat with China over the passage of a French warship through the Taiwan Strait earlier this month.&nbsp;

The passage, which was confirmed by China.

"The (French) national navy crosses the Taiwan Strait&nbsp;about once a year, without any incident nor reaction," an aide to French Armed Forces Minister Florence Parly said after China confirmed lodging an official protest over what was seen as a rare passage by a warship from a European power.

Beijing views self-governed and democratic Taiwan as its territory awaiting reunification, and any passage through the Strait is seen as defying that claim.

The French operation comes amid increasing tensions between the United States and China. Taiwan is one of a growing number of flashpoints in the US-China relationship, which also include a trade war, US sanctions and China's increasingly muscular military posture in the South China Sea, where the United States also conducts freedom of navigation patrols.

China said on Thursday it had lodged "stern representations" with France for what it called an "illegal" passage.

"China’s military sent navy ships in accordance with the law and the rules to identify the French ship and warn it to leave," defense ministry spokesman Ren Guoqiang said.

The French strait passage comes against the backdrop of increasingly regular passages by US&nbsp;warships through the strategic waterway. Last month, the United States sent Navy and Coast Guard ships through the Taiwan Strait.

The passages upset China, which claims self-ruled Taiwan as part of its territory. Beijing has been ramping up pressure to assert its sovereignty over the island.

Chen Chung-chi, spokesman for Taiwan's defense ministry, told Reuters by phone the strait is part of busy international waters and it is "a necessity" for vessels from all countries to transit through it. He said Taiwan's defense ministry will continue to monitor movement of foreign vessels in the region.

Washington has no formal ties with Taiwan but is bound by law to help provide the island with the means to defend itself and is its main source of arms.

(Inputs: AFP, Reuters)

A French warship passed through the strategic Taiwan Strait this month as France on Thursday reaffirmed its commitment to "freedom of navigation under maritime law" following a spat with China over the passage of a French warship through the Taiwan Strait earlier this month.

A French warship passed through the strategic Taiwan Strait this month as France on Thursday reaffirmed its commitment to "freedom of navigation under maritime law" following a spat with China over the passage of a French warship through the Taiwan Strait earlier this month. The passage, which was confirmed by China. "The (French) national navy crosses the Taiwan Strait about once a year, without any incident nor reaction," an aide to French Armed Forces Minister Florence Parly said after China confirmed lodging an official protest over what was seen as a rare passage by a warship from a European power. Beijing views self-governed and democratic Taiwan as its territory awaiting reunification, and any passage through the Strait is seen as defying that claim. The French operation comes amid increasing tensions between the United States and China. Taiwan is one of a growing number of flashpoints in the US-China relationship, which also include a trade war, US sanctions and China's increasingly muscular military posture in the South China Sea, where the United States also conducts freedom of navigation patrols. China said on Thursday it had lodged "stern representations" with France for what it called an "illegal" passage. "China’s military sent navy ships in accordance with the law and the rules to identify the French ship and warn it to leave," defense ministry spokesman Ren Guoqiang said. The French strait passage comes against the backdrop of increasingly regular passages by US warships through the strategic waterway. Last month, the United States sent Navy and Coast Guard ships through the Taiwan Strait. The passages upset China, which claims self-ruled Taiwan as part of its territory. Beijing has been ramping up pressure to assert its sovereignty over the island. Chen Chung-chi, spokesman for Taiwan's defense ministry, told Reuters by phone the strait is part of busy international waters and it is "a necessity" for vessels from all countries to transit through it. He said Taiwan's defense ministry will continue to monitor movement of foreign vessels in the region. Washington has no formal ties with Taiwan but is bound by law to help provide the island with the means to defend itself and is its main source of arms. (Inputs: AFP, Reuters)

China protests as French warship passes through Taiwan Strait

How China is replacing America as Asia's military titan

The arrest of a Chinese woman who allegedly brought malicious software to President Donald Trump's Florida resort shows that Beijing poses a threat, Secretary of State Mike Pompeo said Friday.

Zhang Yujing was arrested last week at Mar-a-Lago, where Trump was on one of his frequent visits, after attempting to enter while carrying multiple mobile phones and a thumb drive containing malware, according to court documents.

"I think this tells the American people the threat that China poses, the efforts that they're making here inside the United States not only against government officials, but more broadly," Pompeo said in an interview with CBS News.

"The theft of American intellectual property is a big business to the tune of hundreds of billions of dollars, and President Trump is determined to push back against it," he said.

He was referring to ongoing trade talks in which the United States is pressing China to take action to protect intellectual property.

Pompeo said the administration was looking closely at the arrest but declined further comment, saying the investigation was ongoing.

There has been no evidence presented publicly that Zhang was sent by the Chinese government, although Beijing says it is providing consular assistance.

Zhang was accused of making false statements to federal officers after first claiming to be a member who wanted to use the pool, and then saying she was attending a non-existent Chinese-American friendship event.

The security of Mar-a-Lago itself has drawn scrutiny in light of the unusual situation of a president who frequently hobnobs with members who pay to be part of his club.

The arrest of a Chinese woman who allegedly brought malicious software to President Donald Trump's Florida resort shows that Beijing poses a threat, Secretary of State Mike Pompeo said Friday.

The arrest of a Chinese woman who allegedly brought malicious software to President Donald Trump's Florida resort shows that Beijing poses a threat, Secretary of State Mike Pompeo said Friday. Zhang Yujing was arrested last week at Mar-a-Lago, where Trump was on one of his frequent visits, after attempting to enter while carrying multiple mobile phones and a thumb drive containing malware, according to court documents. "I think this tells the American people the threat that China poses, the efforts that they're making here inside the United States not only against government officials, but more broadly," Pompeo said in an interview with CBS News. "The theft of American intellectual property is a big business to the tune of hundreds of billions of dollars, and President Trump is determined to push back against it," he said. He was referring to ongoing trade talks in which the United States is pressing China to take action to protect intellectual property. Pompeo said the administration was looking closely at the arrest but declined further comment, saying the investigation was ongoing. There has been no evidence presented publicly that Zhang was sent by the Chinese government, although Beijing says it is providing consular assistance. Zhang was accused of making false statements to federal officers after first claiming to be a member who wanted to use the pool, and then saying she was attending a non-existent Chinese-American friendship event. The security of Mar-a-Lago itself has drawn scrutiny in light of the unusual situation of a president who frequently hobnobs with members who pay to be part of his club.

Arrest at Trump's Mar-a-Lago resort shows China threat: Mike Pompeo

China has banned imports from a second <a href="https://www.wionews.com/world/huaweis-cfo-meng-wanzhou-sues-canada-for-violating-her-constitutional-rights-during-arrest-200965">Canadian canola firm</a>, its customs administration said Tuesday, the latest escalation in a burgeoning row between the two countries.

Following the detection of harmful organisms in canola shipments from <a href="https://www.wionews.com/world/china-asks-canada-to-stop-extradition-process-of-huawei-cfo-meng-wanzhou-to-us-200715">Viterra Inc., China's customs</a> authority has decided to revoke the firm's company registration and suspend imports of its canola seeds, it said in an online statement.

China's customs administration will "continue to strengthen the on-site quarantine and laboratory testing and identification of imported Canadian canola seeds," it added.

The ban comes less than a month after Beijing removed the export permit of major Canadian canola firm Richardson International, which was blocked following the discovery of "hazardous pests" in its shipments.

Canadian Foreign Minister Chrystia Freeland decried the decision, and said that were "no scientific reasons for this action."&nbsp;

Prime Minister Justin Trudeau also weighed in, saying on Tuesday that his government is "taking very seriously the situation around canola" and would "continue to work with (China) to resolve this dispute."

He added that Ottawa is considering sending a high-level delegation to China to press the issue.

China defended its ban as "completely reasonable and legal", and said that it had to protect the health and safety of its citizens.&nbsp;

Canada exported more than $3.75 billion&nbsp;worth of canola last year, with almost half of it, or about five million tonnes, going to China, according to industry figures.

Relations between Ottawa and Beijing have been thrown into crisis by the December arrest in Vancouver of Meng Wanzhou -- the chief financial officer of telecoms giant Huawei -- at the request of the United States.

Washington wants to put Meng on trial on fraud charges for allegedly violating Iran sanctions and lying about it to US banks, and the case has become a major headache for Ottawa.

Following Meng's arrest China detained former Canadian diplomat Michael Kovrig and businessman Michael Spavor, in what observers see as retaliation.

Earlier this month, days after Canada launched an extradition process against Meng, China announced it suspected Kovrig of spying and stealing state secrets and alleged fellow Canadian Spavor had provided him with intelligence.

Both men have been denied access to lawyers and allowed only monthly consular visits.

Meng is free on bail in Vancouver as the extradition process continues. Her next court date for the start of extradition hearings is May 8.

China has banned imports from a second Canadian canola firm, its customs administration said Tuesday, the latest escalation in a burgeoning row between the two countries.

China has banned imports from a second Canadian canola firm, its customs administration said Tuesday, the latest escalation in a burgeoning row between the two countries. Following the detection of harmful organisms in canola shipments from Viterra Inc., China's customs authority has decided to revoke the firm's company registration and suspend imports of its canola seeds, it said in an online statement. China's customs administration will "continue to strengthen the on-site quarantine and laboratory testing and identification of imported Canadian canola seeds," it added. The ban comes less than a month after Beijing removed the export permit of major Canadian canola firm Richardson International, which was blocked following the discovery of "hazardous pests" in its shipments. Canadian Foreign Minister Chrystia Freeland decried the decision, and said that were "no scientific reasons for this action." Prime Minister Justin Trudeau also weighed in, saying on Tuesday that his government is "taking very seriously the situation around canola" and would "continue to work with (China) to resolve this dispute." He added that Ottawa is considering sending a high-level delegation to China to press the issue. China defended its ban as "completely reasonable and legal", and said that it had to protect the health and safety of its citizens. Canada exported more than $3.75 billion worth of canola last year, with almost half of it, or about five million tonnes, going to China, according to industry figures. Relations between Ottawa and Beijing have been thrown into crisis by the December arrest in Vancouver of Meng Wanzhou -- the chief financial officer of telecoms giant Huawei -- at the request of the United States. Washington wants to put Meng on trial on fraud charges for allegedly violating Iran sanctions and lying about it to US banks, and the case has become a major headache for Ottawa. Following Meng's arrest China detained former Canadian diplomat Michael Kovrig and businessman Michael Spavor, in what observers see as retaliation. Earlier this month, days after Canada launched an extradition process against Meng, China announced it suspected Kovrig of spying and stealing state secrets and alleged fellow Canadian Spavor had provided him with intelligence. Both men have been denied access to lawyers and allowed only monthly consular visits. Meng is free on bail in Vancouver as the extradition process continues. Her next court date for the start of extradition hearings is May 8.

China bans another Canadian firm from importing canola seeds

The US has accused China of "systematically"<a href="https://www.wionews.com/india-news/chinese-troops-at-india-tibet-border-equipped-with-mobile-howitzers-report-189068"> impeding access to Tibet </a>by imposing restrictions that have barred diplomats and foreign journalists from visiting the remote Himalayan region, drawing a strong reaction from Beijing which warned that Washington's interference in its internal affairs would harm bilateral ties.

The US State Department in a report documented<a href="https://www.wionews.com/world/amid-us-pressure-china-to-cut-waiting-times-for-foreign-tourists-visiting-tibet-189491"> access problems to Tibet</a>. The report to Congress, mandated by the Reciprocal Access to Tibet Act, passed with bipartisan support in December.

"The Chinese government systematically impeded travel to the Tibetan Autonomous Region (TAR) and Tibetan areas outside the TAR for US diplomats and officials, journalists and tourists in 2018," said the report.

Even visits by US diplomats were "highly restricted," it said.

"Chinese government-designated minders followed US diplomats and officials at all times, prevented them from meeting or speaking with local contacts, interrogated them and restricted their movement in these areas," the report said.&nbsp;

The State Department said that China last year rejected five of the nine US requests to visit Tibet.

China sent troops into remote, mountainous Tibet in 1950 in what it officially terms a peaceful liberation and has ruled there ever since.

The Dalai Lama, the highest figure in Tibetan Buddhism, fled into exile in India in 1959 after a failed uprising against the Chinese rule.&nbsp;

While Beijing views the Dalai Lama as a separatist who seeks to split Tibet from China, the 1989 Nobel Peace Prize laureate says he only wants greater rights for Tibetans, including religious freedom and autonomy.&nbsp;

Quoting the Foreign Correspondents' Club of China, the State Department said that only seven international journalists sought permission to visit Tibetan areas last year, compared with dozens in past years.

The report said that China denied access to tourists during times seen as politically sensitive.

In Beijing, foreign ministry spokesman Geng Shuang said that the US report "severely violates the basic norms governing international relations" and interfered in China's internal affairs.

China has opposed the report as it also sends a "seriously wrong message to Tibetan independent and separatist forces. It is highly detrimental to our cooperation and exchanges," he said.

"This so-called report is full bias and totally ignoring the facts. We never accept that. I want to stress that Tibetan affairs are purely China's internal affairs and allow no interference from foreign countries," he said.&nbsp;

China's Tibet is open to people of all countries, he said, adding "considering special geographical and climate conditions, the Chinese government exercised certain protection and management measures over the entry by foreigner".

"This is totally necessary. Our position will never change. We welcome foreigners to visit Tibet. But the condition is that they have to abide by Chinese laws and regulations and go through relevant procedures," he said.

"We urge the US to stop such wrong doing and try to remove the negative effects. We urge the US side to stop using Tibet related issues to interfere in our internal affairs, least it should harm bilateral relations and our cooperation," he said.

The US has accused China of "systematically" impeding access to Tibet by imposing restrictions that have barred diplomats and foreign journalists from visiting the remote Himalayan region, drawing a strong reaction from Beijing which warned that Washington's interference in its internal affairs would harm bilateral ties.

The US has accused China of "systematically" impeding access to Tibet by imposing restrictions that have barred diplomats and foreign journalists from visiting the remote Himalayan region, drawing a strong reaction from Beijing which warned that Washington's interference in its internal affairs would harm bilateral ties. The US State Department in a report documented access problems to Tibet. The report to Congress, mandated by the Reciprocal Access to Tibet Act, passed with bipartisan support in December. "The Chinese government systematically impeded travel to the Tibetan Autonomous Region (TAR) and Tibetan areas outside the TAR for US diplomats and officials, journalists and tourists in 2018," said the report. Even visits by US diplomats were "highly restricted," it said. "Chinese government-designated minders followed US diplomats and officials at all times, prevented them from meeting or speaking with local contacts, interrogated them and restricted their movement in these areas," the report said. The State Department said that China last year rejected five of the nine US requests to visit Tibet. China sent troops into remote, mountainous Tibet in 1950 in what it officially terms a peaceful liberation and has ruled there ever since. The Dalai Lama, the highest figure in Tibetan Buddhism, fled into exile in India in 1959 after a failed uprising against the Chinese rule. While Beijing views the Dalai Lama as a separatist who seeks to split Tibet from China, the 1989 Nobel Peace Prize laureate says he only wants greater rights for Tibetans, including religious freedom and autonomy. Quoting the Foreign Correspondents' Club of China, the State Department said that only seven international journalists sought permission to visit Tibetan areas last year, compared with dozens in past years. The report said that China denied access to tourists during times seen as politically sensitive. In Beijing, foreign ministry spokesman Geng Shuang said that the US report "severely violates the basic norms governing international relations" and interfered in China's internal affairs. China has opposed the report as it also sends a "seriously wrong message to Tibetan independent and separatist forces. It is highly detrimental to our cooperation and exchanges," he said. "This so-called report is full bias and totally ignoring the facts. We never accept that. I want to stress that Tibetan affairs are purely China's internal affairs and allow no interference from foreign countries," he said. China's Tibet is open to people of all countries, he said, adding "considering special geographical and climate conditions, the Chinese government exercised certain protection and management measures over the entry by foreigner". "This is totally necessary. Our position will never change. We welcome foreigners to visit Tibet. But the condition is that they have to abide by Chinese laws and regulations and go through relevant procedures," he said. "We urge the US to stop such wrong doing and try to remove the negative effects. We urge the US side to stop using Tibet related issues to interfere in our internal affairs, least it should harm bilateral relations and our cooperation," he said.

Chinese government systematically impeding travel to Tibet: US State Department report

Senior US officials will visit Beijing for a <a href="https://www.wionews.com/world/trump-team-has-no-plan-to-go-to-china-for-trade-talks-official-202115">new round of trade war talks</a> on March 28-29, followed by a trip to the United States by China's top negotiator in April, the Chinese commerce ministry said Thursday.

The back-to-back trips come as Washington and Beijing battle over the final shape of a trade deal, with American officials demanding profound changes to Chinese industrial policy.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are returning to the Chinese capital next week, commerce ministry spokesman Gao Feng said at a weekly briefing.

After their visit, Chinese Vice Premier Liu He will head to the United States in April to continue the negotiations, Gao said.

President Donald Trump warned Wednesday that US tariffs on Chinese imports could remain in place for a "substantial period", dampening hopes that an agreement would see them lifted soon.

Over the last eight months, the United States and China have slapped tariffs on more than $360 billion in two-way goods trade, weighing on the manufacturing sectors in both countries.

On Friday, China's rubber-stamp parliament approved a foreign investment law to strengthen protections for intellectual property -- a central US grievance -- but critics said the bill was rammed through without sufficient time for input from businesses.

The law was adopted barely three months after a first draft was debated, an unusually quick turnaround for the legislature, which meets once a year.

Unilateral tariffs

Beijing has also expressed willingness to increase purchases of American commodities such as energy and soybeans.

But analysts say Chinese officials will be reluctant to accede to demands that could weaken the Communist Party's hold on power -- such as fully exposing state enterprises to market forces.

Trump initially said he expected to seal any final bargain at a summit with Chinese President Xi Jinping later this month but that deadline has been pushed back as momentum in the talks has slowed.

US negotiators have insisted that any agreement have teeth -- including the ability to impose tariffs unilaterally should China backslide on any commitments to end alleged unfair trade practices.

"We have to make sure that if we do the deal with China, that China lives by the deal," Trump told reporters at the White House Wednesday.

He also said the talks with Beijing were "coming along nicely".

Despite Trump's trade wars, the US trade deficit with China last year hit a record, as American consumers drew in foreign-made goods while weakened US sales of agricultural commodities weighed on American exports.

Senior US officials will visit Beijing for a new round of trade war talks on March 28-29, followed by a trip to the United States by China's top negotiator in April, the Chinese commerce ministry said Thursday.

Senior US officials will visit Beijing for a new round of trade war talks on March 28-29, followed by a trip to the United States by China's top negotiator in April, the Chinese commerce ministry said Thursday. The back-to-back trips come as Washington and Beijing battle over the final shape of a trade deal, with American officials demanding profound changes to Chinese industrial policy. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are returning to the Chinese capital next week, commerce ministry spokesman Gao Feng said at a weekly briefing. After their visit, Chinese Vice Premier Liu He will head to the United States in April to continue the negotiations, Gao said. President Donald Trump warned Wednesday that US tariffs on Chinese imports could remain in place for a "substantial period", dampening hopes that an agreement would see them lifted soon. Over the last eight months, the United States and China have slapped tariffs on more than $360 billion in two-way goods trade, weighing on the manufacturing sectors in both countries. On Friday, China's rubber-stamp parliament approved a foreign investment law to strengthen protections for intellectual property -- a central US grievance -- but critics said the bill was rammed through without sufficient time for input from businesses. The law was adopted barely three months after a first draft was debated, an unusually quick turnaround for the legislature, which meets once a year. Unilateral tariffs Beijing has also expressed willingness to increase purchases of American commodities such as energy and soybeans. But analysts say Chinese officials will be reluctant to accede to demands that could weaken the Communist Party's hold on power -- such as fully exposing state enterprises to market forces. Trump initially said he expected to seal any final bargain at a summit with Chinese President Xi Jinping later this month but that deadline has been pushed back as momentum in the talks has slowed. US negotiators have insisted that any agreement have teeth -- including the ability to impose tariffs unilaterally should China backslide on any commitments to end alleged unfair trade practices. "We have to make sure that if we do the deal with China, that China lives by the deal," Trump told reporters at the White House Wednesday. He also said the talks with Beijing were "coming along nicely". Despite Trump's trade wars, the US trade deficit with China last year hit a record, as American consumers drew in foreign-made goods while weakened US sales of agricultural commodities weighed on American exports.

US trade negotiators to visit China on March 28-29

US President Donald Trump said on Wednesday a<a href="https://www.wionews.com/world/trump-team-has-no-plan-to-go-to-china-for-trade-talks-official-202115"> trade deal with Beijing </a>is coming along nicely, with US trade negotiators going to China next week for another round of talks.

"The deal is coming along nicely," he said to reporters at the White House. Trump said top US negotiators are going to China this weekend "to further the deal."

When asked about lifting tariffs on China, Trump said, "We’re not talking about removing them. We're talking about leaving them for a substantial period of time because we have to make sure that if we do the deal" China abides by it. He did not elaborate.

US&nbsp;Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin plan to travel to China next week for another round of trade talks, a Trump administration official said on Tuesday.

US President Donald Trump said on Wednesday a trade deal with Beijing is coming along nicely, with US trade negotiators going to China next week for another round of talks.

US President Donald Trump said on Wednesday a trade deal with Beijing is coming along nicely, with US trade negotiators going to China next week for another round of talks. "The deal is coming along nicely," he said to reporters at the White House. Trump said top US negotiators are going to China this weekend "to further the deal." When asked about lifting tariffs on China, Trump said, "We’re not talking about removing them. We're talking about leaving them for a substantial period of time because we have to make sure that if we do the deal" China abides by it. He did not elaborate. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin plan to travel to China next week for another round of trade talks, a Trump administration official said on Tuesday.

Trump says trade deal 'coming along nicely' with China

The United States is not in a rush to enter into a <a href="https://www.wionews.com/world/explaining-the-us-china-trade-war-which-grabbed-spotlight-in-2018-185043">trade deal </a>with China, the negotiations for which has been undergoing since December last year, US President Donald Trump said.

At the same time, talks with the Chinese on a bilateral trade deal has been going on quite well, Trump said, amid reports that Chinese President Xi Jinping has postponed his trip to the US president's Mar-a-Lago resort in Florida later this month.

"I think things are going along very well. We'll just see what the date is. I'm in no rush. I want the deal to be right, much more importantly. Somebody said I'm in a rush. I'm not in a rush at all," Trump told reporters at the White House.

"Right now, we're getting billions and billions of dollars of tariffs paid into our coffers. I am not in a rush whatsoever. It's got to be the right deal, and it's got to be a good deal for us. And if it's not, we're not going to make that deal. But I will say that deal is going along very nicely," Trump said.

Responding to a question, Trump said his Chinese counterpart does not end up in what he did in Hanoi last month when he walked out of his summit meeting with North Korean leader Kim Jong-un because the deal on the table was not in the best interest of the US.

"I think President Xi saw that I'm somebody that believes in walking when a deal is not done. And, you know, there's always a chance it could happen, and he probably wouldn't want that. That could be a reason," Trump said when asked about the cancellation of his proposed summit with Xi in Mar-a-Lago.

"But we can do it either way. We can have the deal completed and come and sign, or we can get the deal almost completed and negotiate some of the final points. I would prefer that, but it doesn't matter that much,"&nbsp;he said.

Trump said the US economy is doing very good, but that is not the case with China.

"Our country is doing great. China would like to make a deal and we'd like to make a deal. We'll see. We have a very good relationship. I have a very good relationship with President Xi. We're going to see what happens,"&nbsp;he said.

"But it's an exciting time in terms of trade. We just made a deal with Mexico, Canada. We just made a deal with South Korea. We have other deals that we have cooking,"he said.

Trump reiterated the US was being taken advantage of by everybody.

"What was happening to our country on trade was a horrible thing; that this wasn't done years ago. And I'm not talking about the Obama administration. I'm talking about that and plenty of other administrations before it. That they could have allowed this to happen -- we lost, over the last number of years, almost USD 800 billion a year on trade. Who's making these deals"&nbsp;he said.

"So we're making great deals or we're not going to make them at all. We're going to go tariffs,"said the US President.&nbsp;

The United States is not in a rush to enter into a trade deal with China, the negotiations for which has been undergoing since December last year, US President Donald Trump said.

The United States is not in a rush to enter into a trade deal with China, the negotiations for which has been undergoing since December last year, US President Donald Trump said. At the same time, talks with the Chinese on a bilateral trade deal has been going on quite well, Trump said, amid reports that Chinese President Xi Jinping has postponed his trip to the US president's Mar-a-Lago resort in Florida later this month. "I think things are going along very well. We'll just see what the date is. I'm in no rush. I want the deal to be right, much more importantly. Somebody said I'm in a rush. I'm not in a rush at all," Trump told reporters at the White House. "Right now, we're getting billions and billions of dollars of tariffs paid into our coffers. I am not in a rush whatsoever. It's got to be the right deal, and it's got to be a good deal for us. And if it's not, we're not going to make that deal. But I will say that deal is going along very nicely," Trump said. Responding to a question, Trump said his Chinese counterpart does not end up in what he did in Hanoi last month when he walked out of his summit meeting with North Korean leader Kim Jong-un because the deal on the table was not in the best interest of the US. "I think President Xi saw that I'm somebody that believes in walking when a deal is not done. And, you know, there's always a chance it could happen, and he probably wouldn't want that. That could be a reason," Trump said when asked about the cancellation of his proposed summit with Xi in Mar-a-Lago. "But we can do it either way. We can have the deal completed and come and sign, or we can get the deal almost completed and negotiate some of the final points. I would prefer that, but it doesn't matter that much," he said. Trump said the US economy is doing very good, but that is not the case with China. "Our country is doing great. China would like to make a deal and we'd like to make a deal. We'll see. We have a very good relationship. I have a very good relationship with President Xi. We're going to see what happens," he said. "But it's an exciting time in terms of trade. We just made a deal with Mexico, Canada. We just made a deal with South Korea. We have other deals that we have cooking,"he said. Trump reiterated the US was being taken advantage of by everybody. "What was happening to our country on trade was a horrible thing; that this wasn't done years ago. And I'm not talking about the Obama administration. I'm talking about that and plenty of other administrations before it. That they could have allowed this to happen -- we lost, over the last number of years, almost USD 800 billion a year on trade. Who's making these deals" he said. "So we're making great deals or we're not going to make them at all. We're going to go tariffs,"said the US President.

Not rushing to have trade deal with China: Trump

China and the United States are still working day and night to achieve a trade deal that matches the interests of both sides and the hopes of the world, including eliminating tit-for-tat tariffs, a senior Chinese official said on Saturday.

Chinese Vice Commerce Minister Wang Shouwen said he was optimistic about negotiations with Washington, but added any trade mechanism achieved must be equal and fair.

The governments of the world's two largest economies have been locked in a tariff battle for months as Washington presses Beijing to address long-standing concerns over Chinese practices and policies around industrial subsidies, technology transfers, market access and intellectual property rights.

Advances in talks drove the White House to indefinitely delay hikes in tariffs on $200 billion worth of Chinese imports that were set to kick in on March 2.

Wang, speaking at a news conference on the sidelines of China's ongoing annual meeting of parliament, said slapping tariffs on each other was bad for workers, farmers, exporters and manufacturers.

"It hurts investor confidence and delays corporate investment decisions," said Wang, who has been deeply involved in the trade talks with the United States.

"Now, the economic and trade teams of the two sides are making full efforts to communicate and negotiate in order to reach an agreement in line with the principles and directions decided by the two heads of states," he added.

"That is to remove all the tariffs imposed on each other so that bilateral trade relations between China and the United States can return to normal."The trade talks have seen senior officials shuttling backwards and forwards between Beijing and Washington.

Giving rare details into the talks, Wang said the two countries had been making extra effort to find areas in common. During the talks Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer enjoyed take out food, he said.

"Vice Premier Liu had a hamburger, and Lighthizer had eggplant and chicken," he added, describing a common Chinese dish.

"Throughout the negotiations, there was coffee and tea, but the two of them did not drink any coffee, did not drink any tea. They both drank hot boiled water. This is to find common ground."

It is unclear when or where senior negotiators from both sides will next meet.

Trump administration officials have not made any new plans to send a team to China for face-to-face trade talks though there is much work left to be done to reach a deal, White House trade adviser Clete Willems said on Friday.

China and the United States are still working day and night to achieve a trade deal that matches the interests of both sides and the hopes of the world, including eliminating tit-for-tat tariffs, a senior Chinese official said on Saturday.

China and the United States are still working day and night to achieve a trade deal that matches the interests of both sides and the hopes of the world, including eliminating tit-for-tat tariffs, a senior Chinese official said on Saturday. Chinese Vice Commerce Minister Wang Shouwen said he was optimistic about negotiations with Washington, but added any trade mechanism achieved must be equal and fair. The governments of the world's two largest economies have been locked in a tariff battle for months as Washington presses Beijing to address long-standing concerns over Chinese practices and policies around industrial subsidies, technology transfers, market access and intellectual property rights. Advances in talks drove the White House to indefinitely delay hikes in tariffs on $200 billion worth of Chinese imports that were set to kick in on March 2. Wang, speaking at a news conference on the sidelines of China's ongoing annual meeting of parliament, said slapping tariffs on each other was bad for workers, farmers, exporters and manufacturers. "It hurts investor confidence and delays corporate investment decisions," said Wang, who has been deeply involved in the trade talks with the United States. "Now, the economic and trade teams of the two sides are making full efforts to communicate and negotiate in order to reach an agreement in line with the principles and directions decided by the two heads of states," he added. "That is to remove all the tariffs imposed on each other so that bilateral trade relations between China and the United States can return to normal."The trade talks have seen senior officials shuttling backwards and forwards between Beijing and Washington. Giving rare details into the talks, Wang said the two countries had been making extra effort to find areas in common. During the talks Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer enjoyed take out food, he said. "Vice Premier Liu had a hamburger, and Lighthizer had eggplant and chicken," he added, describing a common Chinese dish. "Throughout the negotiations, there was coffee and tea, but the two of them did not drink any coffee, did not drink any tea. They both drank hot boiled water. This is to find common ground." It is unclear when or where senior negotiators from both sides will next meet. Trump administration officials have not made any new plans to send a team to China for face-to-face trade talks though there is much work left to be done to reach a deal, White House trade adviser Clete Willems said on Friday.

China says working with US day and night to get trade deal

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