China warns US of scrapping bilateral trade agreements

China warns the United States of scrapping the on-going trade agreements with it if Washington would go on implementing trade measures.

As reported by the ABC news it came after delegations led by US Commerce Secretary Wilbur Ross and China's top economic official Vice Premier Liu as the former wrapped up a meeting on Beijing's pledge to narrow its trade surplus.

Ross mentioned in the meeting that China would buy specific US products though no official statement was released on the same.

Further, no joint statement was released either.

Earlier on Tuesday, the White House renewed the trade war with China as it imposed 25 per cent tariffs on $US50 billion ($66 billion) of Chinese high-tech goods in response to complaints Beijing steals or pressures foreign companies to hand over technology.

In response to that Beijing said that it reserves a right to retaliate.

Earlier the two countries went on a loggerhead with respect to trade tariffs as on June 1, Trump's administration imposed trade tariffs worth 25 per cent were imposed on aluminum and steel imports.

In a strong retaliation, China threatened to impose 25 per cent tariffs on $50 billion worth of US exports.

Taking the US-initiated stringent trade moves forward Trump imposed trade tariffs on country's closest allies - Mexico, Canada, and the European Union.