Money

US Begins Investigation Into China Commerce Practices - Trade Representative

US Begins Investigation Into China Commerce Practices - Trade Representative”

The newspaper said that investigating China's infringements on intellectual property rights, the USA will correct a trade imbalance and at the same time, intensify pressure on China to cooperate with the United States in connection with U.S. policies against North Korea.

Trump said the U.S. would no longer tolerate Beijing's "theft" of U.S. industrial secrets, long a concern of major foreign corporations seeking a share of the huge Chinese market.

Lighthizer's decision to officially launch the investigation after collecting opinions from various circles signaled that a trade war began between the USA and China on a full scale.

"After consulting with stakeholders and other government agencies, I have determined that these critical issues merit a thorough investigation", Lighthizer said.

Beijing last week fired back at Mr Trump's move, warning that "everybody will lose" in the event of a trade war between the world's two largest economies. "We hope that the relevant persons can stop perceive an issue of the 21 century with the zero-sum mentality of the 19th or 20th century". "If a trade war occurs, both sides will be losers", Chinese Foreign Ministry spokesperson Hua Chunying pointed out.

But the country has rarely used the trade tool since the World Trade Organisation began operations in 1995.

More news: Taylor Swift Just Deleted All of Her Instagram Photos
More news: Trump a threat to Iran nuclear deal, warns Rouhani
More news: Yisrael Kristal, the World's Oldest Man, Niftar at 113

President Trump warned China of a trade war, saying that he would designate China as a currency manipulator and impose tariffs Chinese imports during the election process a year ago.

Lighthizer will first need to reach a preliminary finding of unfair practices by China before opening a formal investigation, which could take as much as a year, administration officials said. He has accused the communist nation of cheating the USA economy out of "hundreds of billions of dollars in trade". He recommended pursuing a trade investigation of Beijing's technology policies and anti-dumping action over Chinese exports of steel and aluminum. But, so far, the U.S. has not imposed heavier trade measures on Chinese goods.

China strongly resisted the US Trade Representative's investigation into China's infringements on intellectual property rights.

China said it would halt iron, iron ore and seafood imports from North Korea starting on Tuesday, in accordance with new United Nations sanctions that Beijing voted to approve.

According to Washington, this can mean surrendering technological know-how to Chinese partners.



Like this

Latest


19 August 2017
How North Korea Crisis Could Impact US Dollar
What worries him is a situation where North Korea feels it's about to be attacked and worries it can't win a war. When asked if Guam is part of the United States, Mattis said without hesitation, "Yeah, it sure is".

19 August 2017
Microsoft to Release 'Project Scorpio' Edition of Xbox One X
This special Xbox One X is likely a limited-run console similar to the Day One Edition that Microsoft released for the Xbox One . However, the star of the design has to be the "Project Scorpio" in green letters on the front of the console and the controller.

19 August 2017
Apple's iOS 11 Has A New Security Feature That Disables Touch ID
This is why Apple chose to come up with a way to enable an easier way to unlock the phone in case of any such emergency. The iPhone 8 is expected to come with facial recognition technology , which can be used to unlock the device.

16 August 2017
Is Maria Sharapova a threat at the US Open?
Maria Sharapova has been granted a wild card entry to play in the US Open after 15 months out following a suspension for doping. Sharapova is now world number 148 and was forced to withdraw from the Rogers Cup and the ongoing Cincinnati Open .

15 August 2017
Top US Military Officer Warns North Korea That US Military Ready
Moon, who assumed office this May, added he is "confident the US too will react calmly and responsibly to the ongoing situation". The top priority is the national interest of the Republic of Korea.

13 August 2017
Chelsea make £25m bid for Alex Oxlade-Chamberlain
Manchester United should "break the bank" to sign Arsenal contract rebel Alex Oxlade-Chamberlain to replace Ander Herrera, according to Kenny Cunningham.

12 August 2017
Losing an election not easy; Mahama to Kenyans
Kenya's government is urging citizens to return to work as they wait for results from the presidential election. Former President Thabo Mbeki has given his seal of approval to the Kenyan presidential election.

12 August 2017
Perseid meteor shower to peak this Friday night & early Saturday morning
There are other comet debris trails throughout the year that give us other meteor showers, such as the Leonids in November. The meteors we'll see this weekend are the result of Earth's passage through debris left behind by the Swift-Tuttle comet.

12 August 2017
BC government to fight Kinder Morgan's Trans Mountain expansion
All three organizations noted how Kinder Morgan has yet to obtain the necessary permits to proceed with construction. Supreme Court, where the Squamish Nation is challenging the provincial approval.

11 August 2017
Cat crashes Cardinals, Royals MLB game
Louis Cardinals continue their winning ways over the Kansas City Royals when these two bring the series to St. That's when the fan said it was hers, but now she admits she was just trying to give it a home.



Recommended