USA launches auto import probe, China says will defend interests

Donald Trump Calls For New'Structure For US- China Trade Deal

Donald Trump Calls For New'Structure For US- China Trade Deal

President Donald Trump cast doubt Wednesday on the prospects for talks that are created to head off a trade war between the United States and China.

"Our Trade Deal with China is moving along nicely, but in the end we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion", he tweeted.

The Trump administration's handling of the trade problems posed by China has come under persistent criticism from U.S. policymakers.

Meanwhile, Chinese Vice-Premier Liu He, who held negotiations with the Trump team headed by Treasury Secretary Steven Mnuchin, confirmed that Beijing is ready to boost imports of United States agricultural and energy products, stressing that China is emerging as "the world's largest consumption market".

The message comes one day after the U.S. Department of Commerce announced that it had completed an investigation into certain steel imports from Vietnam and found that China had been funneling its steel dumping through Vietnam to circumvent anti-dumping measures.

Trump's trade tactics, aimed at stemming America's relative economic decline, reflect the same muscular mercantilism that China has used to become rich and powerful.

Growing trade tensions over cars and vehicle parts, particularly with China, could raise risks for USA companies expanding their presence in the country, signs of which are already emerging.

China is aggressively pursuing its territorial claims in the South China Sea - including by militarizing disputed areas and pushing its borders far out into global waters - despite an worldwide arbitral ruling invalidating them.

President Donald Trump said today that at the request of Chinese President Xi Jinping, the U.S. was looking at sanctions against the Chinese telecom giant ZTE. "The United States will send a team to China to work out the details". While Beijing proposed to import large quantities of USA agricultural goods, potentially worth US$60-$90-billion, Washington has hinted that if satisfactory conditions are met, it may resume supplying ZTE with USA chips.

"We believe that European exports of steel and aluminum pose no threat to either the American economy, the steel industry or to American security", said David O'Sullivan, the EU's ambassador to the United States.

There's been a whole lot of winning so far during the Trump presidency - for China.

Ross seemed surprised last week at Trump's demand to reopen a case settled only weeks earlier, and resistant to treat ZTE's fate as a bargaining chip on trade rather than a straightforward enforcement matter. Treasury Secretary Steve Mnuchin led the delegation that included Commerce Secretary Wilbur Ross, U.S. Trade Representative Robert Lighthizer, and chief economic advisers to the president Larry Kudlow and Peter Navarro.

Earlier this month, Reuters reported that Ford Motor Co's imported vehicles were being held up at Chinese ports, adding to a growing list of USA products facing issues at China's borders. "We're looking at the possibility of things turning around here". -China trade talks, Trump said the talks are "a start", but that he's not satisfied.

"The market is pricing in a 90 percent chance that this whole trade war and tariff idea is going to come and go without it being implemented", said James Cordier, president and head trader of OptionSellers.com, an investment firm in Tampa, Florida.

If the European Union doesn't receive permanent tariff relief, it is prepared to complain to the World Trade Organization and to retaliate against the US with tariffs on such iconic USA products as Harley Davidson motorcycles, Levi's jeans and Kentucky bourbon.

"Europe is also going to worry about the effect on others". He added that China has already essentially contracted out around two or three months' worth of buying, primarily from South America.

It may be still early days in the US-China trade conflict. It followed the Trump administration's proposed duties on more than 1,300 imported products in China's machinery, electronics, aerospace and robotics sectors. In addition, 79 types of tariffs for auto parts will fall to 6 percent. Last month, China imposed hefty dumping duties of 179 percent on imports of the grain, which tends to be a cheaper feed alternative to corn.

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