Trump wants new US-China trade 'structure'

Angelo Anderson
May 24, 2018

Asked about the company, he said there is no deal yet with China - but it was not clear whether he was speaking specifically about ZTE or about broader trade disputes.

China responded by targeting $US50 billion in United States products, including soybeans, which would deal a blow to Mr Trump supporters in America's heartland.

So, say these titans of the worldwide business press, current White House trade policy really means the United States is willing to trade its sovereignty and dignity to China, a nation who sells intellectual property stolen from us to our enemies, in order to "dodge tariff retaliation on the U.S. Farm Belt" that our Tweeter-in-Chief begged for - and got - with his earlier, "misguided" steel tariffs.

USA stocks slipped after his comments, with all three major indexes down less than 1 percent in late morning trading as analysts anticipated a rocky session.

Trade talks with China come as the world's two largest economies seek to avoid a trade war.

In return for allowing ZTE to live, the U.S. government would back down on tariffs regarding agriculture and expect China to buy more milk, meat and other stuff from U.S. producers.

The Commerce Ministry's statement gave no details of possible new initiatives but promised to "conscientiously implement" the joint statement by China and the US issued Saturday in which Beijing agreed to "substantially reduce" America's trade deficit with China.

In March of a year ago, the company pleaded guilty to illegally shipping usa technology to Iran and North Korea and paid a penalty of $892 million.

Any firm deal is likely to take a long time, according to most observers, and US officials have threatened to return to tariffs, which prompted the current standoff, if needed.

Four days after the two countries suspended plans to impose tariffs on up to $US200 billion ($265 billion) worth of each other's goods, Mr Trump declared in a tweet that a more detailed agreement "will be too hard to get done". Trump then responded by threatening another $150 billion in tariffs.

Trump's proposal ran into immediate resistance in Congress, where Republicans and Democrats accused the president of bending to pressure from Beijing to ease up on a company that has admitted to violating sanctions on Iran.

Trump is seeking to win a major deal with Pyongyang to denuclearize and is eyeing a June 12 summit with North Korean leader Kim Jong Un. On Tuesday, however, Trump raised doubts the meeting would take place as planned, and suggested Kim's recent meetings with Chinese President Xi Jinping had influenced Kim to harden his stance.

Other reports by Iphone Fresh

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