Saturday, 20 July, 2019

U.S. and China still "very far apart" on trade, says United States ambassador

U.S. and China still U.S. and China still "very far apart" on trade, says United States ambassador
Steven Clarke | 15 May, 2018, 17:33

Trump waded into the issue again on Monday afternoon with another tweet, but the objective was unclear. The administration is in contact with China on this issue, among others in the bilateral relationship.

Mr. Trump over the weekend unexpectedly tweeted that he and Chinese President Xi Jinping were "working together" to give ZTE "a way to get back into business, fast", saying too many jobs in China were at stake after the USA government cut off access to its American suppliers.

The White House said the deficit has triggered the loss of millions of U.S.jobs that are consequently added to the Chinese economy.

"Tariffs are hidden, regressive taxes that will be paid by U.S. businesses and consumers, paradoxically harming U.S. competitiveness", the U.S. Chamber of Commerce, the largest business group in the country, said in its written comments submitted on Friday. "They've admitted to that".

"We're still very far apart", he said. He did not say what other options were being discussed.

FBN's Connell McShane and Susan Li on the Trump administration's efforts to reduce the USA trade deficit with China and concerns of a potential recession by 2020.

"A reversal of the ZTE decision could temporarily tamp down trade tensions by allowing the Chinese to make concessions to the USA without losing face", said Eswar Prasad, a professor of trade policy at Cornell University. USA shares were set to drift slightly lower, with Dow futures down 0.4 percent and S&P 500 futures 0.3 percent lower.

Ross said that, while he expected Chinese officials would bring up the issue this week, "our position has been that that's an enforcement action separate from trade".

Here's When You Can Play The Mario Tennis Aces Beta
One of the big Switch exclusives coming this year, Mario Tennis Aces , is getting a beta in June, Nintendo has announced. The total points and winning rate data will be announced on a leader board on the official website afterwards.

Branstad, speaking at a conference in Tokyo, said the Chinese appeared "taken back" by the significance of the list.

Shah also pushed back on the idea that Mr. Trump was retreating from his campaign promise to be tough on China. -China trade talks in Beijing earlier this month where the two countries failed to reach an agreement on the long list of USA demands. It's not clear, of course, if he's planning to really reverse it or think of a solution in a larger context.

Sources said the pressure was on Liu, the 66-year-old Harvard-trained technocrat, to achieve "some kind of agreement" ahead of a planned trip by vice-president Wang Qishan to Washington in early July.

"The United States and China are the two biggest economies in the world". US companies that export to China have had goods held up in China's ports. The Commerce sanctions didn't just imperil ZTE; they also hurt the American companies that sell components to the Chinese company.

The Wall Street Journal reported Monday that the two countries were in talks about such a potential swap: The U.S. would spare ZTE, and Beijing would drop plans to impose tariffs on U.S. farm products.

America's trade deficit with China amounted past year to $337 billion in goods and services. By cutting off access to US suppliers of essential components such as microchips, the ban threatens ZTE's existence, the company has said.

Although Donald Trump hinted that he would reconsider the matter on Sunday, the ban has triggered an upsurge in nationalist sentiment in China and prompted calls to boost domestic self-reliance. "We are now in close communication over details of the implementation", Lu told reporters at a daily news briefing.

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