US 'looking for a deal' with China on trade -WHouse adviser

Blanche Robertson
May 16, 2018

This has been the case for decades, and is nothing new, but the question of how to address the $370 billion trade deficit is not an easy riddle to solve. "He has my support", Kudlow said, adding that no agreement had been reached yet.

"Liu faces a dilemma", Hu Xingdou, an independent political economist said.

The widening trade dispute between the world's two biggest economies has taken a toll on both sides.

"The failure to reach any agreement with the U.S. delegation rang alarm bells for many Chinese officials who used to be blindly optimistic", a source said.

Earlier this month, a USA delegation led by Treasury Secretary Steven Mnuchin presented China with a list of demands to tackle allegations of intellectual property theft and other trade policies Washington considers unfair.

Trump has long-promised to crack down on China and raised concerns about an all-out trade war after threatening $150 billion in tariffs and prompting China to retaliate. China may "agree to hold back tariffs on a variety of USA agricultural products it announced in early April as retaliation for US tariffs on Chinese steel and aluminum exports", The Wall Street Journal wrote.

"We're still very far apart", he said.

"But I don't believe we can fully brief that threat if they don't have appropriate security clearances within their own institutions, another challenge that comes out of the backlog issue", Warner said.

Expanding on Trump's message, White House deputy press secretary Lindsay Walters said in a statement, "The President's tweet underscores the importance of a free, fair, balanced, and mutually beneficial economic, trade and investment relationship between the United States and China".

It argued that the tariff talk is already hurting job growth. "It's really divorced from the trade story", Kudlow said.

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It told the office of the U.S. Trade Representative that while it has concerns about Chinese trade practices, its membership is split and it urged the government to take a more targeted approach than tariffs that "put the country at risk of a trade war". There, they heard an outcry about US regulators putting ZTE out of business.

It is also uncertain how willing China would be to make substantial concessions in technology, for example by abandoning its Made in China 2025 plan to boost its domestic hi-tech sector, beyond promising no forced technology transfers, better protection for intellectual property and wider market access.

Rep. Eric Swalwell said Tuesday that President Trump needs to divest himself from his businesses after new reports show China contributed $500 million to a project linked to his family business. "They are working very hard".

If Commerce follows through on Trump's order it would reverse a law enforcement decision by Ross to impose a seven-year denial of export privileges on ZTE, the lawmakers said.

Trump has directed Commerce Secretary Wilbur Ross to review "remedies" for ZTE, Kudlow said.

Senate Democrats also criticized the president for appearing to give in to Chinese pressure on the ZTE sanctions.

Last week, the company announced that it was halting operations.

"It's part of, again, the United States relationship with China, which is complex".

Wikimedia Commons A few days ago, things were looking bleak for China's smartphone company ZTE.

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