TRADE WAR - Tensions Rise More, As China says American Demands are "Arrogant"
CHINA - The Chinese state news agency said on Saturday night that the U.S.A. is attempting to invade China’s economic and political sovereignty, as tensions between the United States (U.S.) and China escalate.
While President Donald Trump is undergoing trade talks in Japan, and an historic meeting with new Emperor, the Chinese state news agency has given the following statement on Saturday night:
At the negotiating table, the U.S. government presented a number of arrogant demands to China, including restricting the development of state-owned enterprises...the [U.S.] is trying to invade China’s economic sovereignty and force to damage its core interests.
Any state-owned businesses in China are able to enjoy subsidies and special benefits, such as: governmental guarantees for debts and even lower interest for bank loans.
The state agency further adds that US meddling is:
...obviously, beyond the scope of trade negotiations and touches on China’s fundamental economic system.
After the last set of trade-talks didn't reach a comprise on May 10 , the result was Beijing saying it will vow to retaliate. Washington then hiked U.S. tariffs by 25 percent on an estimated US$200 billion worth of Chinese goods.
China retaliated further, with higher tariffs on most U.S. imports -- on a revised list of US$60 billion.
U.S President Donald Trump also ordered U.S. Trade Representative Robert Lighthizer to target another US$325 billion of Chinese goods with 25 percent tariffs.
According to state media, on May 18, the Chinese State Councilor and Foreign Minister Wang Yi urged the U.S. government not to go too far in its damaging moves against Chinese interests in a phone conversation with U.S. Secretary of State Mike Pompeo.
Huawei and the fate of Chinese imports
President Trump seems to continue to negotiate against Chinese business interest across the world, in an attempt to put America first. And on, May 16, the Trump administration infamously added Huawei Technologies to a trade blacklist,
The administration immediately enacted restrictions making it difficult for the company to do business with U.S. counterparts. Google has also said it will no longer provide services and future Android updates to China's largest cellphone and electronics manufacturer.