US Trade Representative Robert Lighthizer played down expectations ahead of the meeting in Beijing, which is due to be followed by more talks in Washington in early April. (Photo: AFP/MANDEL NGAN) US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to resume talks in Beijing with China's top economic official Liu He, the first since China put into law new measures seen as an olive branch in their high-stakes stand-off. While US President Donald Trump has voiced hope that he could soon hold a signing ceremony with his Chinese counterpart Xi Jinping, negotiations have dragged on, suggesting substantial differences remain. But Lighthizer sought to play down expectations ahead of the meeting in Beijing, which is due to be followed by more talks in Washington in early April. "I'm hoping but not necessarily hopeful ... If there's a great deal to be gotten, we'll get it - if not, we'll find another plan," he told National Public Radio earlier this … [Read more...] about US China trade talks to open in Beijing
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Despite facing challenges to reach a deal before a March 2 U.S. tariff hike, two sides will meet next door to the White House in the highest-level talks since U.S. President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war in December. People familiar with the talks and trade experts watching them say that, so far, there has been little indication that Chinese officials are willing to address core U.S. demands to protect American intellectual property rights and end policies that Washington says force U.S. companies to transfer technology to Chinese firms. The U.S. complaints, along with accusations of Chinese cyber theft of U.S. trade secrets and a systematic campaign to acquire U.S. technology firms, were used by the Trump administration to justify punitive U.S. tariffs on $250 billion worth of Chinese imports. Trump has threatened to raise tariffs on $200 billion to 25 percent from 10 percent on March 2 if an agreement cannot be reached. He has … [Read more...] about US, China face deep trade, IP differences in high-level talks
VietNamNet Bridge - Many Hong Kong businesses want to relocate their production bases to other countries, especially Southeast Asia, in the context of the US-China trade war. Jonathan K.S. Choi, chair of Sunwah Group and VinaCapital Vietnam said at In Style Hong Kong – 2018 organized by the Hong Kong Trade Development Council several days ago that Vietnam is a large market where Hong Kong businesses can invest and sell products. He said Vietnam has great advantages in farm produce, which China now buys in great quantities. Sunwah in Vietnam has been exporting Vietnam’s seafood and coffee. Foreign enterprises in China are now looking for places to set up their new factories. Political certainty is one of the most important factor for investors, but they don’t care about the political regime. Vietnam, with its political certainties, is believed to enjoy benefits from the US-China trade war thanks to the young population and low-cost labor force. Regarding knowledge … [Read more...] about Are Hong Kong businesses leaving Vietnam to avoid US-China trade war?
Viet Nam News BEIJING/WASHINGTON — US President Donald Trump threatened to impose a 10 per cent tariff on US$200 billion of Chinese goods and Beijing warned it would retaliate, in a rapid escalation of the trade conflict between the world’s two biggest economies. Trump’s latest move, as Washington fights trade battles on several fronts, was unexpectedly swift and sharp. It was retaliation, he said, for China’s decision to raise tariffs on $50 billion in US goods, which came after Trump announced similar tariffs on Chinese goods on Friday. “After the legal process is complete, these tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced,” Trump said in a statement on Monday. The comments sent global stock markets skidding and weakened both the dollar and the Chinese yuan on Tuesday. Shanghai stocks plunged to two-year lows. China’s … [Read more...] about China slams US ’blackmailing’ as Trump issues new trade threat
File photo of a container being lifted by a crane at the port in Qingdao, in China's Shandong province. (AFP PHOTO) The list - which includes electronics, aircraft parts, medicine, machinery and other goods - has yet to be finalised and is intended as a response to China's alleged theft of American companies' intellectual property and technology. The move comes a day after Beijing imposed duties on about US$3 billion in US exports, a countermeasure widely seen as a warning that Chinese officials will not hesitate to retaliate quickly. "The proposed list of products is based on extensive inter-agency economic analysis and would target products that benefit from China's industrial plans while minimising the impact on the US economy," the office of US Trade Representative Robert Lighthizer said in a statement. The proposed list identifies roughly 1,300 goods but remains subject to a 30-day public review process before it can take effect. China slammed the "unilateralistic and … [Read more...] about US identifies US$50b in Chinese imports facing tariffs