Trump Confident About Reaching Trade Deal with China

08 January, 2019, 00:18 | Author: Rachel Logan
  • Sino-US trade talks to be held in China next week Beijing

China and the United States will hold vice ministerial-level trade talks in Beijing on January 7-8, as the two sides look to end a dispute that is inflicting increasing pain on both economies and roiling global financial markets.

Lighthizer's office was also responsible for the original report a year ago that laid out allegations of Chinese theft of U.S. intellectual property and formally kicked off the tariff process. So far, China and the U.S. have slapped tariffs on $300 billion worth of each other's goods.

The ministry said that it would host the USA team on January 7-8 for high-level talks, during which representatives of both parties will discuss "implementing the important consensus" mapped out by Trump and Xi.

"We have a massive trade negotiation going on with China".

A team of US negotiators led by Deputy US Trade Representative Jeffrey Gerrish will sit down with their Chinese counterparts next week to follow up on agreements reached between US President Donald Trump and Chinese President Xi Jinping on the sidelines of the G-20 summit in Buenos Aires in December, the Chinese Ministry of Commerce announced Friday.

United States factory activity slowed more than expected in December, according to the Institute for Supply Management (ISM), while Chinese data on Monday showed its manufacturing activity contracted for the first time in more than two years.

More news: Trump criticizes Democrats’ intention to raise issue of his impeachment

Beyond iPhones designed in California, engines made in OH or soybeans grown in Iowa, the trade issue the U.S.is pursuing is the protection of American technology in China. "Can they compromise? We'll see".

Back in Argentina, the two leaders agreed a 90-day truce on new tariffs, which is set to expire on March 1. -China trade war and a slowdown in demand hit production in many economies, offering little reason for optimism as the new year begins.

Since the agreement there have been tentative signs that China is ready to make concessions to the United States in order to lessen the impact of the trade war on its economy, with the Wall Street Journal reporting in December that Beijing is preparing to replace its Made in China 2025 plan with a new economic blueprint that would aim for increased access to China for foreign companies.

The Dow dropped 660 points, or 2.8%, on Thursday after Apple (APPL ) warned it will badly miss its quarterly sales forecast because of weaker growth in China and the trade war.

USTR said the U.S. delegation would also include under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.

"Apple makes its product in China".

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