China warns U.S. trade deals off if tariff hike goes ahead
BEIJING — China’s government renewed its threat Thursday to scrap deals with Washington aimed at defusing a sprawling trade dispute as the White House prepared to release a list of Chinese goods targeted for tariff hikes. President Donald Trump has threatened to raise tariffs on up to $150 billion of Chinese goods in response to complaints about Beijing’s trade surplus and technology policy. As part of that, the White House is due to issue a list on Friday of $50 billion of Chinese goods targeted for a 25 per cent tariff.
Beijing has promised to buy more American soybeans, natural gas and other exports but warned after June 3 talks between U.S. Commerce Secretary Wilbur Ross and China’s top economic official, Vice Premier Liu He, that all deals were off if Trump’s threatened tariffs went ahead.