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Home / Business / Trump allegedly admits China before trade talks | News

Trump allegedly admits China before trade talks | News



With trade talks between the United States and China resuming this week, it appears that the United States has made some concessions that may help reduce the tension between the world's two top economies. [19659002] The New York Times newspaper reported that the United States was considering issuing licenses to US companies that allow them to supply non-sensitive components to Chinese telecom giant Huawei. In May, US President Donald Trump had proposed to ban Huawei from buying parts and technology from US suppliers, citing national security concerns.

But the paper, citing unidentified sources, says that Trump gave the green light in early October for issuing licenses to US companies to supply Huawei with some equipment.

Top dealers from both sides will meet Thursday for the first time since late July to try to find a way out of a 1

5-month trade war that has forced companies to change supply chains and be a drag on the global economy.

China urges US to stop what it described as unreasonable pressure on Chinese companies, including Huawei, Foreign Ministry spokesman Geng Shuang said in a news briefing in Beijing ahead of the talks.

The United States is also separately considering a currency pact with China as part of a partial trade agreement, Bloomberg News Agency reported, citing unidentified sources as well.

Tariffs that are set to increase next week may also be suspended as part of this agreement, it reported.

The foreign exchange measure was something the United States said had been agreed earlier in the year before the trade negotiations collapsed. It is intended to be followed by further negotiations on core issues such as intangible property and technology transfer, Bloomberg reported.

Chinese Deputy Prime Minister Liu Han is scheduled to lead the Chinese delegation in trade talks with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday and Friday in Washington, DC.

However, just hours earlier, the upcoming talks were cut one day as lower-level discussions failed to reach a consensus on key issues, unnamed sources told the South China Morning Post (SCMP).

One of the stumbling blocks was the issue of forced technology transfers, which the Chinese delegation refused to slow down, the SCMP reported.

Discussions about a temporary deal come after the Trump administration this week further heightened pressure on Beijing by blacklisting Chinese technology companies over their alleged role in repression in the western Xinjiang region. The United States also imposed visa bans for officials linked to mass incarceration of Muslims from the region.

At the same time, a fight for free speech between China and the US National Basketball Association (NBA) was sparked by a tweet by the Houston Rockets General Manager supporting Hong Kong's protesters, stressing the tensions.

Tariffs work: United States

Meanwhile, US Secretary of Commerce Wilbur Ross said on Thursday that Chinese goods and services tariffs work while forcing China to take into account US concerns.

Ross said the United States would have preferred not to impose tariffs on Chinese goods more than a year ago, igniting a trade war that slowed global trade and threatened decades-old systems, but added that it has forced Beijing to to shop.

"We don't love tariffs, we actually prefer not to use them, but after years of discussion and no action, tariffs finally force China to pay attention to our concentration of honor," Ross said in a speech while at a official visit to Australia.

Without a significant breakthrough, Trump is set to raise the $ 250 billion Chinese tariff rate by another five percent to 30 percent next Tuesday.

Additional duty rates are scheduled to take effect on December 15.

On Wednesday, a Chinese official said the country was still open to reaching a partial trade agreement with the United States that could include the purchase of some American goods, but added that success was contingent on Trump halting additional tariffs .

Ross added that the United States was not "against" trade with China, but said that China's trade practices had "gotten worse" and that the country needed to comply with global trade regulations.


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