Global News

Trump to call for China IT trade probe on Monday

Trump to call for China IT trade probe on Monday

Trump's call with Xi and his plans to open the broad trade investigation come against the backdrop of rising tensions over North Korea's nuclear and ballistic missile programs.

"We lose hundreds of billions of dollars a year on trade with China". "If China helps us, I feel a lot different towards trade".

At the same time, it could alienate China's leadership, which is urging the Trump administration to limit its confrontational language as it faces off against the regime in Pyongyang. In April, he said he wouldn't label China a currency manipulator, in return for help in dealing with North Korea.

Saturday that Trump spoke with Chinese President Xi Jinping about the upcoming memo during a phone call Friday. During that call, Trump and Xi agreed that North Korea must stop its "provocative and escalatory behaviour" and reaffirmed their commitment to denuclearising the Korean peninsula, according to a White House statement.

United States President Donald Trump on Friday tweeted that military solutions were "fully in place, locked and loaded, should North Korea act unwisely".

Actor Kal Penn has pointed out the president of the United States' posts fit the bill.

US President Donald Trump, left, and Chinese President Xi Jinping at the G20 summit in Hamburg last month.

Senate Democratic leader Chuck Schumer took issue with that assessment.

The administration official who confirmed that Trump would sign the order contended it was unrelated to the showdown with North Korea.

Wall Street finished a hard week on a high note
The Dow Jones industrial average slid 204.69 points, or 0.9 percent, to 21,844.01, just shy of its low point for the day. ASIA'S DAY: South Korea's Kospi sank 1.7 percent to 2,319.71 and Hong Kong's Hang Seng lost 2 percent to 26,883.51.

Trump, in the past, has tied trade policy to national security.

Now, as North Korea presents fresh nuclear danger, those types of consultations appear to be history.

When asked about the delay, the dministration officials did not address the question directly.

"We would like to emphasize that the Chinese government has always attached importance to intellectual property protection", a spokesman said.

The USTR Robert Lighthizer would consider whether to probe China's trade practices under Section 301 of the Trade Act, senior administration officials said, but they declined to say when the USTR's decision would be made.

Michael Wessel, a commissioner on the US-China Economic and Security Review Commission, called the measure "a critical action, and long overdue".

"China's unfair trade practices and industrial policies including forced technology transfer and intellectual property theft harm the USA economy and its workers", a second administration official said. 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.

If the investigation finds that China is harming USA companies, the Trump administration could respond by imposing tariffs, negotiating an agreement with China or other measures, the officials said.


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