China's ambassador to the U.S., Cui Tiankai, told Morning Edition there's room for the two countries to work together in other areas. The USMCA represents an important step in bringing Mexico and Canada closer to high USA standards that have made us the world leader in biotechnology innovation.
This could lead Mexico and Canada to remove their tariffs on USA agriculture products, he said, but that would likely be far into the future. "The tariffs imposed by China to date specifically targeted industries and states that would play an important role in the 2018 election", Pence said during the speech. The firm lowered its ratings for Chinese stocks from neutral to overweight, citing that the trade wars will heighten to a point where its economy is substantially impacted. In retaliation, China announced plans to impose new tariffs of 25 per cent worth United States dollars 50 billion on 106 American products including items like soybeans which could hurt American farmers.
"We're confident that more will join their ranks", he said.
This President is looking to redefine the rules on issues ranging from foreign currency exchange to how U.S. trade partners conduct business with China. "But we also need to get back to genuinely duty-free trading conditions in practice as well". He will say an intelligence official told him that what "the Russians are doing pales in comparison to what China is doing across this country".
The trade spat between the top two economies of the world began in April with Trump imposing tariffs on steel and aluminum imports into US.
He said that in June, Beijing laid out its strategy in a sensitive "Propaganda and Censorship Notice" which stated that China must "strike accurately and carefully, splitting apart different domestic groups" in the United States.
"For example, Google should immediately end development of the "Dragonfly" app that will strengthen Communist Party censorship and compromise the privacy of Chinese customers...", Pence added.
Bloomberg Businessweek cited 17 unidentified intelligence and company sources as saying that Chinese spies had placed computer chips in equipment used by about 30 firms, as well as multiple US government agencies, which would give Beijing secret access to internal networks.
Noting that Beijing is also cracking down on Buddhism, Pence said over the past decade, more than 150 Tibetan Buddhist monks have lit themselves on fire to protest China's repression of their beliefs and culture. Google employees and others have protested the company's plan to build a search engine that would comply with Chinese censorship.
He accused China of "reckless harassment" of the U.S. Navy during operations in the South China Sea. "For a time, Beijing inched toward greater liberty and respect for human rights, but in recent years, it has taken a sharp U-turn toward control and oppression", he said. Farmers said afterwards they were not satisfied. After the institute offered to host a speaker from Beijing that Chinese officials opposed, its website was hit with a cyberattack that originated from Shanghai, he said. The government of Ontario, Canada's most populous province, wrote to Freeland this week asking how the clause will "affect future trade deals between Canada and other nations".
Pence made clear that the United States still adhered to its four-decade policy of recognizing only Beijing but added to applause: "Let me also say that Taiwan's embrace of democracy shows a better path for all the Chinese people".