Mubasher: The US administration announced that it will proceed with "pursuing action on trade" by imposing tariffs on Chinese goods. This announcement comes shortly after Washington and Beijing said they reached an initial solution to their dispute.

By 15 June, the Trump administration will impose a 25% tariff on a list of around $50 billion worth of Chinese goods that will later be determined by the US, the White House said in a statement on Tuesday, noting that it would continue legal proceedings against China at the World Trade Organization (WTO).

Moreover, Washington will implement restrictions on investment and “enhanced export controls” for Chinese individuals and entities in relation to the appropriation of “industrially significant technology,” the statement added.

In May, China agreed to boost its purchases of American agriculture and energy products, while the US Department of Commerce told Congress, last week, that a deal has been struck to get Chinese telecoms company ZTE back into business.

Such news pacified fears about a looming trade war between the world’s two largest economies, but US President Donald Trump stated last week that any agreement should have “a different structure,” casting the talks back into uncertainty.

Trump threatened to impose tariffs on almost $150 billion worth of Chinese imports, while China threatened to implement duties on some of the major US imports like soybeans, aircraft, and vehicles.