That follows the conclusion of the U.S. Trade Representative's Section 301 investigation into China's industrial and intellectual property policies.
The unexpected announcement was met with some surprise, in light of Trump's unbridled enthusiasm for the meeting, and most - including White House staff tasked with briefing the press - thought it meant a summit would at least be postponed.
"Going forward, a reduction in validity of some newly issued visas is part of the National Security Strategy to ensure that intellectual property is not transferred to our competitors", the official said, referring to a document issued by the Trump administration in December.
"We're interested only in economic prosperity and national security", Navarro said, adding that the USA slapping 25% tariffs on $50 billion of Chinese goods is bullish news for American companies and will be a "key part" of USA policy going forward.
"The US Chamber supports the administration's ongoing efforts to deal with China's unfair trade practices and policies".
"The United States will implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology, the White House said in a statement".
Beijing has already pledged to retaliate against the tariffs.
Trump is also still working out what to do about ZTE, the Chinese phone and telecom equipment maker that was crippled by a USA export ban issued last month, in punishment for what the USA said were violations of its sanctions against North Korea and Iran.
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They were welcomed to the White House by US President Donald Trump , who told Holt he had been "incredibly courageous ". Earlier in May, Holt made a desperate Facebook plea for help after a riot at the prison where they were held.
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Operation Protective Edge. "No injuries to the IDF soldiers were reported", the statement added. It said the explosive device had been hidden inside a pair of fence cutters.
China has repeatedly said that it will push ahead with its development of high-tech industries and will not back down in the face of what it sees as threats from Washington.
The United States said on Tuesday that it will continue pursuing action on trade with China, days after Washington and Beijing announced a tentative solution to their dispute and suggested that tensions had cooled. On April 6, 2017 - the same day that Trump and husband Jared Kushner dined with Chinese President Xi Jinping - her eponymous label reportedly won provisional approval for three new trademarks, sparking a strong public reaction.
State news agency Xinhua said China hoped that the United States would not act impulsively but stood ready to fight to protect its own interests.
China cut tariffs on US automobiles and Trump has pledged support for ZTE, a Chinese company affected negatively by USA sanctions. The US will request that tariffs and taxes between the two countries be reciprocal in nature and value.
The American Chamber of Commerce in China (AmCham) said in a report published Wednesday that its member companies are anxious investigations into China's intellectual property practices and industrial policies could cause tensions to flare again.
A crackdown of Chinese investment into "industrially significant technology".
Trump administration officials last month proposed a ban on sales of crucial American technology to ZTE, a giant Chinese telecom company that employs 80,000 people.