China trade war: China remains positive despite any agreement

Lloyd Doyle
May 14, 2019

"Looking forward, we are still cautiously optimistic".

Liu's optimism was tempered by U.S. Treasury Secretary Steven Mnuchin, who told CNBC on Friday that there were no further talks with China planned "as of now".

China and the USA are reportedly split on issues in the trade negotiations including whether all additional tariffs should be removed, according to state media.

"I think that China felt they were beaten so badly in the recent negotiation that they may as well wait around for the next election", Trump said Saturday in a pair of early-evening tweets. Some of them are theft in intellectual property, forced transfer of technology and the rollback of tariffs.

This was supposed to be the weekend when Donald Trump would demonstrate the art of the deal by concluding a trade agreement with China. American Business Representative Robert Lighthizer said that the United States is preparing to raise the fee for taking $ 300 billion of Chinese products into the tax net, which has not come under import duty.

Liu emphasized "differences are significant issues of principle", and "we absolutely can not make concessions on such issues of principle". Some U.S. companies that buy steel, for example, complain that Trump's tariffs on imported steel leave them at a competitive disadvantage.

"The president. ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300bn", US Trade Representative Robert Lighthizer said in a statement.

The Trump administration has raised tariffs from 10 to 25 percent on 200 billion dollars' worth of imports from China. But stocks in the United States regained a number of the missing ground on news that officials have been planning to go ahead for the meetings of this week in Washington.

Shipments take about three weeks to cross the Pacific Ocean by sea, giving negotiators more time to reach a settlement before importers may have to pay the increased charges.

This comes after trade talks with China concluded earlier this week, without an agreement between the two nations.

"China has made it clear to call for the elimination of all additional tariffs to resume normal bilateral trade", the People's Daily said.

The second is about procurement, on which an initial consensus was reached between the leaders of the two countries in Argentina late a year ago.

Mr Liu said the remaining differences were crucial ones "and we will make no concessions on matters of principle".

"Any country needs its own dignity, so the text must be balanced", he said.

This week's talks have also amplified the differences that remain between the two governments as they navigate their own domestic politics as well as a growing worldwide rivalry.

The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any "bitter fruit" that harmed its interests.

As a result, he said, "there is absolutely no need to rush" to make a weak deal with China.

"Of all the Trump policies, if I had to cheer one, this would be it", he said in an interview.

Liu said the two days of talks in the United States were "productive".

The ultimatum that was sudden shook up financial markets, which had anticipated the world's two biggest economies to resolve a standoff above trade, possibly.

Chinese Vice Premier Liu He leaves the Office of the US Trade Representative in Washington on Friday.

Some lawmakers have expressed concern about the effect of the tariffs.

Other reports by Iphone Fresh

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