China to go Head-to-Head with US Over Duties & Intellectual Property

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On Wednesday May 30th, China reacted to Washington’s unexpected announcement that the US will pursue import duties and other restrictions on investments from Chinese companies. China said it was ready to fight back, if Washington intended to ignite the fires of a so-called trade war.

On May 29th, the United States threatened to impose tariffs on imports from China in the amount of USD $50 Billion, and said they would use it in case Beijing didn’t resolve the issue of appropriation of US intellectual property. It should be pointed out that during the business visit of US Secretary of Commerce Wilber Ross to the PRC in May earlier this year, the parties agreed on taking measures aimed at reducing the trade imbalance.