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China says ready to defend its interests in U.S. trade spat
The United States has violated international trade rules with an inquiry into intellectual property and China is ready to defend its interests, Vice Premier Liu He told U.S. Treasury Secretary Steven Mnuchin, state media said on Saturday. U.S. President Donald Trump plans to impose tariffs on up to $60 billion in Chinese goods for what he calls misappropriation of U.S. intellectual property under Section 301 of the 1974 U.S. Trade Act. The escalating tension sent shivers through financial markets as investors foresaw dire consequences for the global economy if trade barriers start going up. In a telephone call with ... (full story)