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China calls on US to ‘cease and desist’ from endangering trade relations

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Beijing forcefully denounced President Donald Trump’s decision Thursday to impose tariffs on billions of dollars in Chinese goods, accusing him of putting the two economies on course for a trade war.

“If a trade war were initiated by the US, China would fight to the end to defend its own legitimate interests with all necessary measures,” China’s embassy in Washington said in a statement.
“We urge the US to cease and desist,” the embassy said, warning that by endangering China-US trade relations Washington will “eventually end up hurting itself.”

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In the latest in a series of aggressive moves on trade, mostly targeting China, Trump authorized new sanctions on up to $60 billion of Chinese imports to retaliate against “theft” of American intellectual property.

The tariffs and the goods targeted will be identified in the coming weeks, but Trump said they could be as high as 25 percent – what he called a “reciprocal tax.”

The embassy’s statement was issued moments after markets closed on Wall Street but investors had already taken Trump’s move as a bad omen, with the benchmark Dow Jones Industrial Average falling more than 700 points amid fears of a tit-for-tat trade confrontation.

Washington accuses Beijing of forcing US companies to enter joint ventures and transfer technology and trade secrets to their Chinese partners. At the same time US companies are not able to license intellectual property in China.

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US officials also allege China has hacked US networks and conducted industrial espionage to steal intellectual property.

The embassy said China had shown “sincerity in making reasonable suggestions” and made “great efforts” to deal with the current trade imbalance with the United States.

The United States recorded a record $337.2 billion trade deficit with China last year, and Trump demanded it be reduced by $100 billion.

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For the second time in a month, events in Washington whipped anxiety that Trump’s “America First” confrontations with major trading partners were headed toward full-scale trade conflict.

But Commerce Secretary Wilbur Ross suggested the new measures on intellectual property were in fact a way of bringing Beijing to the table, calling them “the prelude to a set of negotiations.”

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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Texas governor busted sending racist call-to-arms a day before El Paso attack: ‘take matters into our own hands’

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On Thursday, Gov. Greg Abbott (R-TX) tweeted out a message of unity and promised to work to reduce violence in his state, in the wake of the shooting in El Paso that left 22 dead and dozens more injured:

Today we had hearings responding to the tragic shooting in El Paso.

We focused on community healing, combating domestic terrorism, reducing hateful ideologies, & keeping guns out of hands of deranged killers while respecting 2nd Amendment rights.

We’ll keep TX safe.#txlege pic.twitter.com/ymct4aiSgK

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Facebook bans far-right website from pro-Trump advertising after they try to skirt transparency rules

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On Thursday, NBC News reported that Facebook has banned the Epoch Times from placing political advertisements, after the right-wing website tried to conceal its multimillion-dollar dark money streams and get around the social network's political advertising transparency rules in its propaganda supporting President Donald Trump.

The Epoch Times had tried to skirt rules by running ads under puppet names like "Honest Paper" and "Pure American Journalism," confusing users about who was really behind the ads.

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Former Overstock CEO tells Fox News the Feds wanted him to sleep with Russian spy Maria Butina

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Longtime Overstock CEO Patrick Byrne resigned on Thursday after issuing a bizarre press release that caused the company's stock to tank.

Byrne then went on Fox News to claim that federal officials urged him to have a romantic relationship with Russian spy Maria Butina.

He claimed that the government told him they never asked citizens to engage in romantic relationships, but it was "such a national security risk" that the government asked Byrne, then in his fifties, to sleep with Butina, who was at the time in her twenties and half his age.

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