Beijing to detail trade war stand after calling off USA talks

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China dashed prospects for a near-term resolution to the trade war with the U.S., warning President Donald Trump his threats of further tariffs are blocking any potential negotiations.

Defiant in the face of increasing fears about the impact to the USA economy, Trump has threatened to go after all imports from China if the country refuses to change policies he says harm United States industry, particularly the theft of American technology.

The charges came in a white paper published by China's cabinet, the State Council, and claimed the U.S. had turned toward "unilateralism, protectionism and economic hegemonism" as Trump pursues his "America First" agenda.

The US will levy tariffs of 10% initially, rising to 25% at the end of 2018.

Earlier this week, the U.S. slapped an additional 10 per cent import duties on $200 billion worth of Chinese products, warning Beijing of fresh taxes on another $267 billion in Chinese imports.

The two sides had already slapped tariffs on $50 billion worth of each other's goods.

The white paper blames President Donald Trump's "America First" policy for torpedoing years of progress in settling differences through bilateral forums and exchanges. Beijing has denied that United States firms are forced to transfer technology and sees Washington's demands on rolling back its industrial policies as an attempt to contain China's economic rise.

Secretary of State Mike Pompeo seemed confident on Sunday, however, that the US would win any potential trade war with China.

China, which has accused Washington of being insincere in the negotiations, has decided not to send Vice Premier Liu He to Washington this week, The Wall Street Journal reported late last week.

Ironically, the document was unveiled during the Mid-Autumn Festival period, a major holiday in China.

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The trade tensions have also cast a pall over broader relations between Beijing and Washington, with the two sides butting heads on a growing number of issues.

This week the USA sanctioned a Chinese military procurement organisation, drawing a sharp protest from Beijing and a decision to postpone planned military talks.

"The trade war is now a reality", Fitch chief economist Brian Coulton said in the release.

The meeting was meant to discuss how to de-escalate the ongoing trade war between the United States and China, which began in July.

Analysts believe that China may be waiting for U.S. mid-term elections early next month for any hints of changes in Washington's policy stance.

"With generic polls favouring the Democrats, they may feel that the trade environment will be less hostile after November 6".

"The Trump administration must get its position straight though - what does it want from China, and who is empowered as a negotiator by President Trump to bring the deal home?"

Mr Trump has repeatedly threatened higher tariffs on the remaining Chinese imports should Beijing retaliate against Monday's round.

Even before Trump's election, the United States has complained vigorously that China has been unfair to USA businesses and has stolen technology by forcing firms to reveal secrets as a condition to operate in the fast-growing Asian economy.

Instead, it has warned of "qualitative" measures to retaliate. Business groups say American companies also report Chinese regulators are starting to disrupt their operations through slower customs clearance and more environmental and other inspections.

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