Thursday, 13 December, 2018

China trade talks continue

Where should Europe be innovating? | Oli Scarff  AFP via Getty Images Where should Europe be innovating? | Oli Scarff AFP via Getty Images
Steven Clarke | 07 May, 2018, 03:16

There were "extensive communications" on settling hush-money deal before election Trump asks Pentagon to look at options for withdrawing troops from South Korea: report Adelson helped arrange canceled Pruitt trip to Israel: report MORE said he plans to huddle on Saturday with senior US officials returning from trade negotiations in China.

A trade spat between the top two economies of the world began last month with Mr. Trump imposing tariffs on steel and aluminum imports into the US from China, which also retaliated by imposing additional tariffs worth about $3 billion on 128 USA products.

A US trade delegation is in Beijing this week to discuss a wide range of USA complaints about China's trade practices, from accusations of forced technology transfers to state subsidies for technology development.

The US and China are having "very good conversations", Treasury Secretary Steven Mnuchin told reporters before leaving his hotel Friday morning for the Diaoyutai state guest house, where the talks are being held.

Business Secretary suggests customs transition could be extended
Eurosceptic backbencher Jacob Rees-Mogg criticised "Project Fear" warnings about job losses after Brexit from Mr Clarke this morning.

Trump has previously said that a trade war with China would be "easy to win".

"Our high level delegation is on the way back from China where they had long meetings with Chinese leaders and business representatives".

Washington's demand for a $US200 billion cut from China's USA goods trade surplus doubles Trump's previous request for a $US100 billion cut.

Trump has also demanded "reciprocity" between U.S. and Chinese tariffs, frequently complaining about China's 25 per cent vehicle tariff while the United States equivalent is 2.5 per cent. "Reducing the deficit by $US200 billion by 2020 is quite an unrealistic demand, but it may also be a negotiation tactic to start high first", said Tommy Xie, economist at OCBC Bank in Singapore.

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