BEIJING,China―Trade tensions between the United States and China heated up on Tuesday as Beijing warned that it “will not sit idle” if a US probe into its intellectual property practices leads to sanctions. Trump on Monday signed a memorandum directing US Trade Representative Robert Lighthizer to determine whether Chinese policies hurt American investors or companies―with retaliatory measures a possible outcome. China’s commerce ministry issued a statement voicing “serious concern” and warning that any US trade protectionism “will definitely harm bilateral trade relations.”“If the US side take actions that impair the mutual trade relations, disregarding the facts and disrespecting multilateral trade rules, China will not sit idle,” the statement said. The new intellectual property inquiry joins numerous investigations launched by Washington into Chinese trade practices, notably those concerning steel and aluminum and their national security consequences, which the Trump administration began earlier this year. “The decision to launch this probe may raise the risk of tit-for-tat trade protectionism,” Zhao said in a note.

Source: The Standard August 15, 2017 06:56 UTC