The Latest: Trump will speak with Xi, then act on tariffs
CAEN, France (AP) — The Latest on the trade dispute between China and the United States, and related developments (all times local):
President Donald Trump says he’ll make a decision about ramping up tariffs on China after he speaks with Chinese President Xi Jinping at a summit this month in Japan.
Speaking Thursday in France, Trump said: “I will make that decision I would say over the next two weeks — probably right after the G-20.” He was referring to a summit with the leaders of developed and developing countries.
Trump ordered tariffs of up to 25% on hundreds of billions of dollars’ worth of Chinese exports and his administration is preparing to extend them to $300 billion more — almost all items shipped to the U.S. from China. Trump ordered the tariffs to pressure China to change its behavior.
China has reciprocated with tariffs of its own, among other measures.
Huawei Technologies has signed an agreement with the Russian telecom company MTS to develop next-generation “5G” networks.
The deal was signed Wednesday in Moscow, as Chinese President Xi Jinping and his Russian counterpart Vladimir Putin looked on.
China has been championing Huawei, the world’s biggest telecoms gear provider, as a national star as the company fights U.S. pressure on many countries to exclude it from nascent 5G networks. U.S. officials say Huawei is a security risk.
MTS said in a statement that it plans to work with Huawei on developing 5G technologies.
Xi is on a state visit to Russia as the two countries grow increasingly close while each contends with friction with the U.S. He also will attend a major investment conference in St. Petersburg on Friday.
China’s Commerce Ministry says it will release a list of “unreliable” foreign companies in the near future.
The Chinese commerce ministry spokesman did not give a specific date Thursday during a weekly briefing. He said no particular company or industry is being targeted, and those that follow Chinese law don’t need to worry.
But he told reporters the process of drawing up the list was underway.
China said that would issue a list of foreign companies and individuals that it deems unreliable after the U.S. blacklisted Huawei Technologies for alleged theft of intellectual property and evasion of Iran sanctions.
U.S. companies will have to seek approval for sales to Huawei once the list takes effect.
China hasn’t said what action it might take against the entities included on its list.