China urges US to keep promise on trade issues

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President Donald Trump will move ahead on tariffs against 50 billion dollars in goods from China -DESPITE recently putting the trade fight quote "on hold". The new tariff is part of one of the three major steps that the USA is taking based on the March 22, memorandum signed by President Donald Trump. Trump is using trade negotiations to recoup the losses.

The Global Times, an influential tabloid run by the ruling Communist Party's official People's Daily, said the United States was suffering from a "delusion" and warned that the "trade renege could leave Washington dancing with itself".

The White House announcement came on the heels of stiff criticism from lawmakers of the White House 's negotiating tactics and willingness to soften tough penalties in some cases with no benefit to the US. In front of the WTO board, the Chinese have vehemently argued against these allegations.

Earlier on Tuesday, Washington said it was still considering slapping 25 % tariffs on $50 billion of Chinese goods in retaliation for what the Trump administration says is China's unfair trade practices.

If there is an upside to the roller-coaster ride of Sino-US trade relations, it is that Beijing has never seemed so set on pushing forward with innovative breakthroughs as it has as a result of Trump's constant reminders that China needs to develop its own core technologies.

Previous rounds of tariff cuts since November covered avocados, mineral water, baby carriages, and other high-value but low-volume imports. Despite being one of the administration's leading protectionist voices early on, Ross was initially left off a May trade delegation to China led by Treasury Secretary Steven Mnuchin.

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"On hold now", a person familiar with Qualcomm's talks with the Chinese government said on Wednesday, declining to be identified as the negotiations are confidential.

The White House said in a statement on Tuesday that the tariff will cover goods related to the "Made in China 2025" program. The strategy is a 2015 Beijing initiative promoting the country's information technology, high-end machinery and robotics, aerospace, marine equipment and ships, advanced rail transport, new-energy vehicles, electric power, agricultural machinery, new materials and bio-medical sectors.

Under that agreement, ZTE will remove its management team, hire American compliance officers and pay a fine. Either way, we will know soon enough.

A final list of the imports subject to the tariffs will be released June 15 and the investment restrictions will be announced on June 30. The president also plans to impose restrictions on investment in some Chinese companies.

News that the trade war was off had been widely reported by Chinese media.

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