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China: Trade deals in jeopardy if U.S. tariffs are implemented

China: Trade deals in jeopardy if U.S. tariffs are implemented

"Trump's strategy does no favors for the moderates like trade negotiator Liu He who are eager to take China down a more manageable path of market and financial reforms, and such reforms would indeed be good for US commercial interests", said James Zimmerman, a partner in the Beijing office of the law firm Perkins Coie and a former chairman of the American Chamber of Commerce in China.

China has warned any agreements with Washington in their talks on settling a sprawling trade dispute "will not take effect" if threatened US sanctions including tariff hikes go ahead.

The Chinese statement said the two sides made "positive and concrete progress", but neither side released details.

Trade tensions between the USA and China, the world's two largest economies, had intensified in April after Beijing said it was slapping duties on 106 American imports following Washington's plans to put new tariff on hundreds of Chinese items.

The statement was made in the light of the yet another round of US-Chinese trade talks, which began on Saturday and continued through Sunday.

The Trump administration's shifting stance on China may complicate Ross's ability to extract concessions from Beijing.

The American Embassy in Beijing did not immediately respond to a request for comment.

China has threatened to retaliate by raising import duties on a $50 billion list of American goods including soybeans, small aircraft, whiskey, electric vehicles and orange juice.

Other officials and technical experts from the Department of Commerce, Department of Treasury, United States Trade Representative, Department of Agriculture, and Department of Energy also took part, the White House said.

"Our meetings so far have been friendly and frank, and covered some useful topics about specific export items", Ross said.

"China is willing to increase imports from all countries in the world including the United States", the statement said.

China's delegation included central bank governor Yi Gang, commerce minister Zhong Shan, and Ning Jizhe, a deputy head of the powerful planning body the National Development and Reform Commission.

Ross had been expected to seek clear commitments from Beijing to boost Chinese imports of United States products in areas such as energy and agriculture.

Before Ross arrived with his team for the two-day talks, the United States and China had threatened tit-for-tat tariffs on goods worth up to $150 billion each.

But US Treasury Secretary Steven Mnuchin denied that the US had abandoned leadership in the global economy and said he had passed on the other countries' strong feelings to Mr Trump.

Trade analysts had warned Ross's hand might be weakened by the Trump administration's decision Thursday to go ahead with tariffs on steel and aluminum imports from Canada, Europe and Mexico.

Mr Ross and Mr Liu held a working dinner on Saturday ahead of their talks.

That might alienate allies who share complaints about Chinese technology policy and a flood of low-cost steel, aluminium and other exports they say are the result of improper subsidies and hurt foreign competitors.

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