China says can't hold US trade talks with 'knife to the throat'

China hikes tariffs on US imports

US, China Exchange New Round of Tariffs in Trade War

Asked this month if Beijing's planned retaliation was a guarantee that Trump would go ahead with the next round of duties, White House trade adviser Peter Navarro said on NPR's Morning Edition that "the president was crystal clear in his statement: if China retaliates, the process will move forward on the additional amount".

China has raised tariffs on $60 billion of USA imports in an escalation of their fight over technology policy following a deadline for President Donald Trump's latest increase. China retaliated with duties on a further $60 billion worth of American products.

Trump threatened last week to add an additional $267 billion in Chinese imports to the target list if Beijing retaliated for the latest U.S. taxes, which would cover almost everything China sells to the US.

The Trump administration has argued tariffs on Chinese goods would force China to trade on more favorable terms with the United States.

The latest round of tariffs between the USA and China went into effect Monday.

American officials say Chinese plans for state-led development of global competitors in robotics and other technologies violate its market-opening obligations and might erode USA industrial leadership.

The United States stands to gain more from Sino-U.S. trade, China's global trade representative Fu Ziying, said at the same press conference.

Adding further to tensions, China's state-backed Global Times newspaper said on Tuesday that conflict with China would "come at a huge price".

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'If this continues, it will destroy in an instant the gains of the last four decades of China-US relations'.

The ongoing escalation in a trade war between the United States and China ratcheted up again on Monday when US tariffs on an additional $200 billion worth of Chinese goods went into effect.

Wang concluded that it was "entirely up to the US" to broker a truce over the current trade war.

Japan and the European Union signed a free trade deal that creates the world's largest open economic area, amid fears that a US-China trade war will diminish the role of free trade in the global economic order. Though Beijing has not revealed what such steps might be, business executives and analysts say it could withhold exports of certain products to the USA or create more administrative red tape for American companies operating in China.

The new USA duties covers thousands of Chinese-made products, including electronics, food, tools and housewares.

But China was able to compensate for the economic impact of the trade war at home, mainly by boosting domestic demand and improving the environment for private businesses, the officials said.

"[The trade war] has cut off connections between industries in different sectors, risking fragmentation of global supply chains", said Luo Wen, vice-minister of the Ministry of Industry and Information Technology.

Hopes for talks to resolve the issue appeared to have been dealt a blow as the Wall Street Journal reported Beijing canceled the visit of a negotiating team expected on Thursday and Friday in Washington. This is the case in other developed countries and is allowed under World Trade Organization rules, he said.

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