>> President Donald Trump will move ahead on tariffs against $50 billion in goods from China, despite recently putting the trade fight, quote, on hold. The White House on Tuesday said a list of Chinese products facing a 25% tariff will be released by June 15th, along with a range of, quote, enhanced export controls barring China's access to US technology by the end of June.
>> We have been ripped off by China.>> The move comes less than two weeks after Treasury Secretary Steven Mnuchin said the US and China would hold off on tariffs, while they tried to come to an agreement.>> It was just a week ago that we thought we had a deal with China on trade.
Vice Premier, Liu He, had come to Washington and there were talks with Trump Administration officials, and they came out with a laundry list of things that the Chinese were gonna buy from the United States. However, there has been a dispute over the extent of the deficit reduction that would take place under that deal.
The US side was trying to get the Chinese to commit to a $200 billion reduction in the US trade deficit with China. China was not willing to pin that down to a specific figure.>> In mid May, China agreed to boost imports of US grain as well as oil and gas.
Last week the US Commerce Department told lawmakers it was ending an earlier push to ban Chinese phone giant, ZTE. But also last week Trump said, any broad agreement with China would need, quote, a different structure. China's Commerce Minister said the US announcement was surprising, and urged the US to act in line with their previous pledge to hold off on tariffs while the talks continue.
Commerce Secretary Wilbur Ross will visit China for further talks in early June.>> China has become very spoiled.>> Trump has treated tariffs of up to $150 billion of China's goods, to combat what he calls unfair trade practices. China warns of equal retaliation against US imports such as aircraft, vehicles, and soybeans.