Chinese newspaper warns USA not to push too hard on trade

09 January, 2019, 11:59 | Author: Frank Williams
  • The partial shutdown of the US federal government has now entered its third week

He publicly said he's eager to make a deal that benefits both sides while also stressing that China's slowing economy and falling stock market signal the country is more desperate than the US for a speedy outcome.

The source confirmed to Reuters that the talks were "ongoing", but few other details had emerged.

The working level talks held at the Chinese Commerce Ministry were the first round of face-to-face discussions since both sides agreed to a 90-day truce in a trade war that has roiled global markets.

Monday's events also came as China and the US began talks in an attempt to settle a trade war that has cost both countries billions of dollars. China's Ministry of Commerce specifically promoted "new progress" on one of two trade calls during which trade imbalances and intellectual property protections were discussed.

The American delegation is led by a deputy US trade representative, Jeffrey D. Gerrish, and includes agriculture, energy, commerce, treasury and State Department officials.

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports over complaints Beijing steals or pressures companies to hand over technology.

"I think China wants to get it resolved - their economy's not doing well", Mr Trump told reporters on Sunday.

Earlier on Tuesday, China approved five genetically modified (GM) crops for import, a move seen as a "goodwill gesture" by some in the US agriculture industry that could boost China's overseas grains purchases and ease pressure from the United States to open its markets to more farm goods.

More news: LG unveils flexible television that can be rolled up

President Donald Trump expressed optimism that U.S.

Ross, in an interview on CNBC, said the talks in Beijing would help determine whether trade differences between the world's two largest economies could be resolved through negotiations.

Over the past two days, talks have been under way between the USA and China to find a way to end the conflict. The Chinese side firmly opposes the relevant action by the United States side and urges the United States to immediately stop such provocations. "China's development has ample tenacity and huge potential", Lu said.

The two countries have until March 1 before USA tariffs on some US$200 billion in Chinese goods are set to rise to 25 per cent from 10 per cent.

USA officials worry that China's rise as a potential competitor in telecoms, solar power, electric cars and other fields might erode American industrial leadership. And to me those are immediate trade. "We have firm confidence in the strong long-term fundamentals of the Chinese economy".

Official U.S. fuel storage data from the Energy Information Administration (EIA) is due at 1800 GMT on Wednesday.

The Trump administration's calculus regarding how much to stress either increased purchases of USA goods, on the one hand, or structural reforms reflects a divide within the White House.

China and the United States have in the past repeatedly traded barbs over what Washington says is Beijing's militarization of the South China Sea by building military installations on artificial islands and reefs. US Trade Representative Robert Lighthizer has consistently stressed the latter, emphasizing the importance of binding enforcement mechanisms.

Recommended:



Popular

Rivers versus Brady in divisional round of National Football League playoffs
The New England Patriots have basically dominated the National Football League for the past two decades. It was the same guy that helped us get here. "It's a Bill Belichick-led team and defense", Rivers said.

Juventus Reject Arsenal's Aaron Ramsey Swap Deal Proposal
Meanwhile, Arsenal are looking to strengthen their midfield options in January by signing wantaway Barcelona player Denis Suarez. The only one was definitely Bonucci since he was a starter on the top team prior to his arrival.

Dovish Fed Chief Powell Delivers What the Markets Wanted
But it has been gradually reversing that stance over the past year, although the balance sheet still remains above $4 trillion. The head of the Fed, once confirmed by the Senate, can only be removed "for cause", not a policy disagreement.

Scott Thompson: China, not the nice customer we thought?
Diplomatic tension between Canada and China has intensified since Meng's arrest on December 1. Secretary of State Mike Pompeo has said China should free the men.

The Whiteboard: The Chicago Bulls got a good return for Justin Holiday
Payne, 24, was drafted 14th overall by the Oklahoma City Thunder in 2015 and was traded to the Bulls last February. What's more is Holiday has started all 38 games for the Bulls to this point in the 2018-2019 regular season.

Robert Pires sends a message to Unai Emery about Lacazette!
ARSENAL host Fulham in their first match of 2019 as they look to recover from two terrible Christmas away days. Looks like Ozil will not be joining Aaron Ramsey in leaving the club in the next two transfer windows.

Blackpool midfielder hopes home advantage can give Arsenal problems
The north London side won the competition seven times during Wenger's 20-year spell in charge of Arsenal . I am looking at him and he's very concentrated with us now.

Pelosi elected speaker, will lead Dems confronting Trump
As a result, around 800,000 public workers have been unpaid, with about a quarter of the federal government closed for two weeks. Republican Senate Majority Leader Mitch McConnell's office said he would attend the briefing, which is set for Wednesday.

Paul Pogba Looking To Equal Cristiano Ronaldo Record
However, teams such as Benitez's meagrely resourced assortment have to thrive on half chances against high-class opponents. Manchester United continued their winning streak to four matches after beating Newcastle United 2-0 at St James' Park.

Tesla delivers record number of vehicles, cuts prices by US$2,000
Global deliveries to Europe and China will start next month and it will launch a right-hand drive version later in the year. But the company is unprofitable for the first nine months of 2018, and cash flow remains a concern for investors.