China, US Trade Talks Progresses

08 January, 2019, 00:15 | Author: Angel Logan
  • US manufacturers say Trump tariffs will bring higher prices, not more jobs

American envoys are due in Beijing for talks Monday in a tariff battle over Chinese technology ambitions.

US President Donald Trump and Chinese President Xi Jinping agreed to the temporary truce on 1 December on the sidelines of the G20 summit in Argentina.

China's commerce ministry said in a statement that a working team led by Deputy US Trade Representative Jeffery Gerrish will come to China to have "positive and constructive discussions" with Chinese counterparts. Its one-sentence announcement gave no other details of the agenda or who else would take part.

Washington and Beijing imposed tit-for-tat tariffs on more than $300 billion worth of goods in total two-way trade previous year, locking them in a conflict that has begun to eat into profits and contributed to stock market plunges. In December, they agreed to stop trading tariffs for a few months. Apple CEO Tim Cook warned investors, "We believe the economic environment in China has been further impacted by rising trade tensions with the United States".

The European Union filed its own challenged in the World Trade Organization in June against Chinese regulations the 28-nation trade bloc said hamper the ability of foreign companies to protect and profit from their own technology.

The Commerce Ministry confirmed that Gerrish would lead the U.S. delegation at the talks.

Data this week pointed to signs of strain in the United States and China at the end of a year ago.

Now China and the United States face a March deadline for talks to end the damaging trade war, or Washington could proceed with a sharp hike in USA tariffs and Beijing could retaliate. The shares closed at US$148.26 on Friday, down about 5.1 percent for the week.

U.S. officials will travel to Beijing for talks on Monday and Tuesday next week, with China's Ministry of Commerce saying it hopes the talks will be "positive and constructive".

"That puts a lot of pressure on China to make a deal", he said.

Tensions between the two nations have been rising for the past year, after tariff disputes between U.S. president Donald Trump and Chinese president Xi Jingping, disrupted exports causing global economic slowdown fears. While USA imposed tariffs worth $250 billion on China since July this year, China has imposed tariffs worth $110 billion on goods imported from USA.

Recommended:



Popular

Kurdish forces must be safeguarded: Bolton
The YPG has turned to the Syrian regime as a counter to the threat from Turkey in the event of a U.S. retreat. That group has been classified as a terrorist organization by both the US and Turkey .

Five teenage girls killed in fire in Poland
Local residents placed flowers and lights in front of the location, a two-storey house with a huge " Escape Room " sign in front. A 25-year-old man was taken to hospital with burns following the fire which broke out around 5pm local time.

MLB Rumors: Manny Machado's Official White Sox Supply Revealed, Harper Chase Continues
Meanwhile, according to NBC Sports Philadelphia , the Nationals are not the only team pursuing Harper seriously. The Washington Nationals reportedly have made a fair share of effort to bring back their homegrown star.

NASA’s New Horizons Shows Image of Snowman-Like Object
At right, the color has been overlaid onto the LORRI image to show the color uniformity of the Ultima and Thule lobes. Jeff Moore , New Horizons Geology and Geophysics team lead, said the appearance of Ultima Thule is remarkable.

Elizabeth Warren Talks Iowa Trip, Drinking Beer On Instagram Live
She is working hard to overcome the misstep before other possible challengers make up their minds about entering the 2020 race. Warren on Monday announced she's launching an exploratory committee for president.

Printing of Rs 2,000 note stops? Here's the truth
He claimed that the government had made a decision to reduce the printing of Rs 2,000 notes at the time of their launch itself. In 2016-17, 328.5 crore Rs 2,000 notes were in circulation. "Printing of notes is planned as per the projected requirement".

Jürgen Klopp says Manchester City still the best team in the world
In recent times, Manchester City had faced the most trouble from Liverpool both in Champions League and Premier League . Michael Owen is tipping Liverpool FC to secure a draw against Manchester City at the Etihad Stadium on Thursday night.

Wizards’ John Wall out with heel injury, will see specialist
The All-Star point guard signed a massive four-year, $170 million contract extension in 2017 that will kick in next season. As the team's starting point guard and half of the All-Star backcourt, Wall will obviously be hard to replace.

Eagle lands on Notre Dame fan at of Cotton Bowl Classic
The Tigers (13-0) and Fighting Irish (12-0) meet in the first game of the semifinal doubleheader. Here's a look at five Crimson Tide players to watch in the game Monday night.

Maurizio Sarri’s injury list grows as ANOTHER Chelsea attacker limps off
He has made a total 499 appearances for both Chelsea and Arsenal, and one more would see him reach his target ahead of his expected departure.