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            october 24, 2019

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China blames US for banning sale of American high tech products


China blamed US export restrictions for its record trade surplus with the United States, but expressed hope that a solution can be found to settle the trade dispute before a tariff breaks out.
US President Donald Trump has announced tariffs on as much as US$60 billion against Chinese imports, Reuters reports.
Tariffs will be imposed under Section 301 of the 1974 US Trade Act, focusing on Chinese high-tech goods. President Trump said China has forced US firms to transfer their intellectual property to China as a cost of doing business there.
Chinese Foreign Ministry spokeswoman Hua Chunying said it was unfair for the US to criticise if the United States won't sell wants to buy, referring export controls on some high-tech products.
"How many soybeans should China buy that are equal to one Boeing aircraft. Or, if China buys a certain number of Boeing aircraft should the US buy an equal number of C919s?" Ms Hua said.
However, she said China still hopes it can hold constructive talks with the United States in a spirit of mutual respect to seek a "win-win" solution.
US agricultural exports to China stood at $19.6 billion last year, with soybean shipments accounting for $12.4 billion. Chinese penalties on US soybeans will especially hurt Iowa, the state that backed Trump in the 2016 presidential elections and is home to US Ambassador to China Terry Branstad.

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