China says trade with USA has no connection to North Korea

15 August, 2017, 00:42 | Author: Chad Mckenzie
  • China North Korea

He also decried white nationalist groups two days after a woman was killed by a purported white nationalist after violence broke out at a Virginia rally.

Any cargo already on its way to China will be cleared as usual by customs ahead of the sanction deadline, the Chinese government said.

"China has no real effective leverage to de-escalate the situation if both Trump and North Korea's Kim (Jong-un) are reckless", said Xu Guoqi, a foreign relations expert at the University of Hong Kong.

China is concerned that the president's plan may start a trade war.

To comply with the latest United Nations sanctions on North Korea, China is restricting imports of coal, iron, iron ore, and lead from North Korea, according to The Washington Post.

U.S. officials, who spoke on condition of anonymity, bluntly accused China on Saturday of "stealing our intellectual property" - long a concern of Western companies seeking a share of the enormous Chinese market. Many US businesses must create joint ventures with Chinese companies and turn over valuable technology assets, a practice that Washington says stifles US economic growth.

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Michael Froman, former USTR under the Obama administration, echoed his view, saying the Obama administration tended to skip the process of Section 301 and "go straight to bringing cases against China at the WTO". -China trading relationship. But analysts have cautioned that Trump faces a huge challenge in his desire to significantly reduce the USA trade deficit with China, which previous year stood at more than $300 billion.

While Beijing has promised to open more industries to foreign companies, it also has issued new rules on electric auto manufacturing, data security, Internet censorship and other fields. The official spoke on condition of anonymity to discuss the order before Trump's formal announcement.

Despite the tough sanctions imposed on North Korea, the USA is said to be preparing military options in case the UN-imposed penalties fail. "If China helps us, I feel a lot different toward trade".

"There's always a possibility of smugglers, but I think the government and state-owned companies and lawful private sector business will generally implement the government's orders".

However, Beijing is increasingly frustrated with Pyongyang and joined in approving a UN Security Council ban on August 5 on coal and other key goods.

China will halt import of coal, iron, iron ore and seafood from its ally North Korea from tomorrow, as it implements new United Nations sanctions amid US President Donald Trump's warnings to Pyongyang over its nuclear programme.

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In a statement later, Lighthizer said the investigation would be a top priority for his office.

"Beijing could play the role of a chairman at these talks and boost its influence not only regarding North Korea but also South Korea and Japan", said political analyst Willy Lam.

Zhang Liangui, an worldwide relations professor at the Central Party School, said the latest ban would slash Pyongyang's foreign trade revenue but there was still a big question mark over its effectiveness.

Would China fight for N Korea? "China's forced technology transfer is highly institutionalised", the official said.

President Trump, after meeting with Secretary of State Rex Tillerson and U.N. Ambassador Nikki Haley this evening announced he would be speaking with president Xi tonight.

Should an investigation find wrongdoing, Trump could impose tariffs against Chinese imports, which would mark a significant escalation in his efforts to reshape the trade relationship between the world's two largest economies.

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