Published: Fri, May 24, 2019
Global News | By Blake Casey

USA firms in China fear 'retaliation' against Huawei curbs: AmCham

USA firms in China fear 'retaliation' against Huawei curbs: AmCham

And Beijing announced on May 13 it would raise tariffs on $60 billion in US goods in retaliation.

"The U.S. pork industry has been one of the most adversely affected sectors, receiving a one-two punch in the form of a 50 percent punitive tariff from China on top of the existing 12 percent duty and, until recently, a 20 percent punitive tariff from Mexico".

"Particularly in the wake of the decision to put Huawei on the. entity list, there are concerns that the government of China may decide to retaliate against American companies", Mr Stratford said.

The world's two largest economies have been in a standoff since a year ago, when the Trump administration announced it was enacting sweeping tariffs on Chinese goods as it sought to shrink the US trade deficit and prompt Beijing to address accusations that it unfairly forces American companies operating in the country to hand over technology to local partners. Cui Tiankai, China's ambassador to the United States, said, "It's quite clear it is the us side that a few times changed its mind overnight and broke the tentative deal already reached".

"The Chinese government is confident and able to protect the legal interests of Chinese firms", Gao said. As a result, US allies and their companies increasingly have put cooperation with the company on hold.

On Tuesday, some of the world's biggest footwear firms urged Mr Trump to end the United States trade war with China, warning of a "catastrophic" effect on consumers.

Mr Trump also wants to cut America's trade deficit with China, which he says is hurting USA manufacturing.

Fifth Migrant Minor Dies In U.S Custody Since December
That strain is particularly acute in the Rio Grande Valley, which has more unauthorized border crossings than any other region. Border Patrol officials said the family units and unaccompanied children are "looking to be released into the United States".

Not only does the USA accuse China of stealing intellectual property, but it wants Beijing to make changes to its economic policies, which it says unfairly favour domestic companies through subsidies. "But actually the tariff money that we are receiving the revenue we are receiving is what the president has meant to fund, the farmers who are being hurt by retaliatory tariffs".

Groups that represent farmers like the American Farm Bureau and National Farmers' Union said that while they appreciate the assistance for farmers, it's a short-term solution and they would rather have a long-term trade deal with China.

Trump has imposed tariffs on foreign steel and aluminum and thousands of Chinese products.

And it would mean that the next batch of levies would be ready when Trump meets Chinese President Xi Jinping, as expected, at a G20 leaders summit in Japan on June 28 and 29.

That notwithstanding, Trump said there is a "good possibility" Washington will reach an agreement with Beijing to end the escalating trade conflict, and that "it's possible that Huawei would be included in a trade deal". -China trade war, while predicting that the impact on and growth from higher tariffs on Chinese goods would be "de minimis".

China has threatened to retaliate against U.S. sanctions without giving details.

The Trump administration has offered a reprieve before to a Chinese telecommunications company, ZTE Corp., in a similar situation as Huawei. But tariffs are taxes paid by USA importers, and studies have shown that American consumers and businesses usually end up absorbing the higher costs. Do they pay most of it?

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