China approves 13 new Ivanka Trump trademarks in 3 months

01 June, 2018, 21:39 | Author: Sue Mclaughlin
  • President Donald Trump listens to a question in the Oval Office of the White House in Washington

The White House yesterday announced that it will impose a hefty 25 per cent tariff on the $50 billion worth of Chinese goods containing "industrially significant" technology including those related to the "Made in China 2025" programme, days after the two sides reached an agreement and vowed not to launch a trade war against each other.

US President Donald Trump's earlier threats of tariff hikes resulted in very intense negotiations with Beijing "in a way that we haven't seen for so many years", AmCham chairman William Zarit said.

When Trump announced the initial plan to impose tariffs on Chinese goods, he also instructed the Treasury Department to draw up new curbs on investment in the U.S.by Chinese companies.

Specifics of the new limits will be announced by June 30 and will take effect "shortly thereafter", the White House said.

President Donald Trump is moving ahead with steps to protect USA intellectual property by punishing China with broad investment restrictions, litigation at the World Trade Organization and hefty tariffs on $50 billion worth of Chinese goods.

The latest talks focus on USA claims of intellectual property theft by China.

China will cut import tariffs on a range of consumer items including apparel, cosmetics, home appliances, and fitness products starting from July 1, the state council, or cabinet, said on Wednesday.

The Trump administration has sought to reduce the U.S. trade deficit with China by increasing the amount of United States exports to the country.

China responded the next day with a $50 billion list of its own, which heavily targeted agricultural and chemical products and which Beijing has vowed to impose as soon as the USA moves forward with its tariffs.

The tariffs and investment restrictions, as well as a case brought by the U.S. against China before the World Trade Organisation, are the outcome of an investigation launched past year into intellectual property practices in China.

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"If the USA insists on acting arbitrarily and recklessly, China will take firm and powerful measures to safeguard its own legitimate rights", Hua said.

Despite being one of the administration's leading protectionist voices early on, Ross was initially left off a May trade delegation to China led by Treasury Secretary Steven Mnuchin.

Mr Trump had already fuelled uncertainty over trade talks with China, after saying last week that any deal between Washington and Beijing would need "a different structure".

The trade-related actions were announced following a report by the Office of the US Trade Representative regarding China's practices with respect to technology transfer, intellectual property and innovation.

FILE - In this November 9, 2017 file photo, President Donald Trump and Chinese President Xi Jinping shake hands during a joint statement to members of the media Great Hall of the People in Beijing, China.

"We were both surprised by and expecting the statement issued by the White House".

Many experts and US companies, however, warn that China's efforts to protect its high-tech industries and capture USA technology represent the larger threat.

Last week Trump said he had reached a deal to let Chinese telecommunications firm ZTE stay in business.

In a statement, China's Commerce Ministry said the announcement is "obviously in violation" of this recent agreement.

Commerce Secretary Wilbur Ross is scheduled to travel to China this weekend for further discussions.

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