China cancels trade talks with US

Share

United States tariffs on $200bn worth of Chinese goods and retaliatory tariffs by Beijing on $60bn worth of USA products took effect at 0400 GMT.

Soon after the fresh duties went into effect, China accused the United States of engaging in "trade bullyism" and said it was intimidating other countries to submit to its will through measures such as tariffs, the official Xinhua news agency said.

Earlier, the Trump administration said it needs to confront China over its trading practices to defend US long-term interests even as the escalation risks causing pain for American consumers.

The US imported about $500bn worth of products from China a year ago, compared with $130bn in US goods imported by the Asian country.

Pompeo told Fox News on Sunday.

"We're going to get an outcome which forces China to behave in a way that if you want to be a power - a global power - transparency, rule of law, you don't steal intellectual property".

Trade talks in Washington last month produced no meaningful progress.

The latest tariffs and the threat didn't deter Beijing from launching retaliatory tariffs on American goods worth $60 billion.

More news: Destiny 2 Breakthrough mode arrives next week with new maps
More news: Florida man charged after trying to steal American Airlines jet from airport
More news: Federer, Zverev put Europe on top at Laver Cup

Beijing set its new levies on $60 billion of United States goods at 5 and 10 percent and warned it would respond to any rise in USA tariffs on Chinese products accordingly.

China imports far less from the United States, making a dollar-for-dollar match on any new USA tariffs impossible.

But Trump warned he could ramp up to "phase three", slapping tariffs on approximately $267-billion of additional imports, or the entirety of the goods the U.S. buys from China.

China canceled trade talks with the US and will no longer send Vice-Premier Liu He to Washington next week, the Wall Street Journal reported , without saying where it got the information.

The Chinese government has not made any announcement yet.

The removal of smartwatches and wireless headphones represents a win for Apple, just days after it unveiled its latest smartwatch and three new iPhones as part of a bid to fight back after slipping to third place among smartphone makers.

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.

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

Share