USA and China still "very far apart" on trade, says United States ambassador

Proshare Nigeria Pvt. Ltd

Proshare Nigeria Pvt. Ltd

The spat started with U.S. measures against Chinese steel and aluminium imports, which led to Beijing imposing tariffs on 128 different USA products.

The U.S. -China Business Council (USCBC), which represents 200 American companies that are engaged in business with China, also urged the Trump administration to reconsider its tariff plan.

President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast.

Ikenson said the administration's focus on the $200 billion was "silly", adding that if the USA accepts China's offer to import more goods, Trump can "claim mission accomplished and turn the page". Officials from Beijing are expected to arrive in D.C. armed with a list of items they will offer to import from the meet that goal, The Wall Street Journal reported.

Commerce and ZTE past year settled charges that the Chinese company sold sensitive telecommunications equipment to Iran and North Korea in violation of USA sanctions. "They've admitted to that". "We want to see these things happen sooner than later", he said at a conference in Tokyo.

The United States also needs China's support as it prepares for talks with North Korea that are meant to persuade the Pyongyang regime to abandon nuclear weapons. USA shares were set to drift lower with Dow futures down 0.2 percent at 24,827. "Trump may have recognized that backing off on ZTE clears the path for him to claim at least a partial victory in the U.S".

But lawmakers on both sides of the aisle panned the move. Sen. "There's an economic channel, there's a law enforcement channel, there's a national security channel".

Top Senate Democrat Chuck Schumer accused Mr. Trump of "backing off" and "doing a 180 on China".

USA companies have been largely critical of Trump's protectionist policies, citing added costs to both manufacturers and consumers despite the President's promises.

US Commerce Secretary Wilbur Ross said those and other issues remained a "work in progress" but the trade ministers from Canada and Mexico who were in Washington last week stressed they would not be pressured to reach a deal. -China relations after the administration crippled the company by cutting it off from USA suppliers for allegedly violating terms of a 2017 sanctions settlement, then lying about it. Too many jobs in China lost.

"ZTE, the large Chinese phone company, buys a big percentage of individual parts from US companies".

"I think it could be adjusted", he said. "But it is something that's just out of the norm", said Amanda DeBusk, the chair of the worldwide trade and government regulations practice at the firm Dechert.

One area the world's two most powerful economies likely won't be able to address during discussions this week is China's practice of what is known as technology mercantilism, in which it distorts policies and systems in order to expand domestic technology production. USA companies that export to China have had goods held up in China's ports.

Additionally, The Wall Street Journal (paywall)'s sources point to another possible result of US leniency towards ZTE. "It's possible, depending upon how the trade talks go".

As of Monday, the USTR's Office has received over 2,700 filings of written comments regarding the administration's tariff approach, with major US business groups opposed to tariffs on Chinese products.

Trump spoke to Canadian Prime Minister Justin Trudeau on Monday and discussed bringing the talks to quick conclusion, officials from both countries said.

House Armed Services Chairman Mac Thornberry said Tuesday that he doesn't "see a growing movement in the House" to remove language in the defense authorization bill that would ban government agencies from using technology made by ZTE, China's second-largest manufacturer of telecommunications gear. "We are now in close communication over details of the implementation".

"You've got different channels here", Kudlow said at an event in Washington Tuesday hosted by Axios. ZTE agreed to plead guilty and pay about $1 billion in fines.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.