US defence chief visits China as tensions simmer

China and the European Union firmly oppose trade unilateralism and protectionism and think these actions may bring recession and turbulence to the global economy says Chinese vice premier Liu He

In an interview on CNBC, Navarro said the US Treasury Department would report to President Donald Trump on Friday on the issue of China investment restrictions "to defend our technology and intellectual property so that we can prosper in the future".

"They are meeting many of our demands", Kudlow said.

Trump has blamed past USA administrations for being soft on China and allowing the country to become dominant in manufacturing, including in products like steel and aluminum, which are subject to U.S. tariffs, and for failing to protect sensitive technologies.

U.S. officials complain the WTO, the Geneva-based arbiter of trade rules, requires an overhaul because it is bureaucratic, rigid and slow to adapt to changing business conditions.

Don't get me wrong, I try to be objective with Trump because he's done some good stuff such as his tax cuts and his Kim Jong-un work.

"We need more than just talk, we need to demonstrate adherence to worldwide trading rules", said Katainen, proposing reforms to develop new rules for a "global level playing field" in key areas such as "industrial subsidies".

The report comes after President Donald Trump's "America First" administration earlier this month announced new tariffs of 25% on US$50 billion (RM200 billion) in Chinese imports.

Sen. John Thune (R-SC) warned, "With every passing day, the United States loses market share to other countries - product market, some of it unlikely to be recaptured". This unites the European Union and China and the moment.

The bloc imposed tariffs on $3.3 billion of American products Friday in response to U.S. barriers on imports of aluminium and steel, triggering threats of further tariffs on European cars from Trump.

He said markets have misunderstood the president's plans.

Chinese President Xi Jinping said last week that he will not hesitate to retaliate against the United States on trade, The Wall Street Journal reported Monday, citing sources.

China's Commerce Ministry and Foreign Ministry didn't immediately respond to requests for comment.

American tariffs on foreign goods have threatened domestic supply chains and foreign manufacturing strategies for USA multinationals, and they've prompted retaliatory tariffs from trade partners expected to stunt global sales for US companies.

USA officials are also concerned over Beijing's stepped-up campaign to pressure Taiwan, a longtime ally of the United States despite the lack of official diplomatic relations.

Monday's technical agreement on hygiene and inspection requirements, signed during a visit by French Prime Minister Edouard Philippe, means France will be able to export to China once meat companies that have applied for access receive their permits.

"We hope Mattis can take advantage of this visit to seek maximum common ground with China", the newspaper said. Li said French companies were welcome to invest.