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PORT MORESBY (Reuters) – The United States will not give up its trade dispute with China and could even double its tariffs unless Beijing complies with US demands, Vice President Mike Pence said Saturday. .
FILE PHOTO: Mike Pence, US Vice President, speaks at a joint press conference at Istana or Singapore's Presidential Palace on November 16, 2018. Yong Teck Lim / Pool via REUTERS
In a speech delivered at an Asia-Pacific Economic Cooperation (APEC) summit in Papua New Guinea, Pence launched China's trade and security challenge in the region.
"We have taken decisive action to address our imbalance with China," Pence said. "We have applied tariffs on Chinese goods worth $ 250 billion and we could more than double that number."
"The United States, however, will not change course as long as China does not change its habits."
This harsh warning is likely to be a new nuisance for the financial markets, who had hoped for a thaw in the Sino-US dispute and perhaps even agreement at a G20 meeting to be held later this month in Argentina.
US President Donald Trump, who does not attend the APEC meeting, is due to meet Chinese President Xi Jinping in Argentina.
Saturday's Pence warning contrasted with Trump's remarks on Friday when he said he could not impose more tariffs after China sent a list of measures to the US willing to take to resolve trade tensions.
Trump has imposed tariffs of $ 250 billion on imports from China to impose concessions on a list of demands that would alter the terms of trade between the two countries. China reacted by applying import duties on US products.
Washington calls on Beijing to improve market access and intellectual property protection for US companies, reduce industry subsidies and reduce the $ 375 billion trade deficit.
There was no trace of compromise on the part of Pence.
"China has been profiting from the United States for many years. Those days are over, "he told delegates assembled aboard a cruise liner moored in Fairfax Harbor, Port Moresby.
He also focused on China's territorial ambitions in the Pacific and, in particular, Xi's "Belt and Road" initiative to expand land and sea linkages between Asia, Africa and Asia. Europe with billions of dollars in infrastructure.
"We do not offer constrictor belts or one-way roads," said Pence.
While not directly referring to China's claims on various controversial waters in the region, Mr. Pence said the United States would work to help protect maritime rights.
"We will continue to fly and navigate where international law permits and where our interests require it. Harassment will only strengthen our resolve. "
A few minutes ago, Xi spoke at length about his initiative and the need for free trade in the region.
"This is not an exclusive club closed to non-members, nor a trap, as some have called it," Xi said of his original project.
He also called protectionism a "short-sighted approach" that was "doomed to failure".
"History has shown that confrontation, whether it's a cold war, a hot war or a trade war, will not produce any winners." "said Xi.
Report by Jonathan Barrett, Tom Westbrook, Charlotte Greenfield and Philip Wen; written by Wayne Cole and Swati Pandey; Edited by Robert Birsel
