U.S., China to resume trade talks in Washington amid low expectations

  • U.S., China to resume trade talks in Washington amid low expectations
    Independent.t. E.
    American and Chinese officials intend to resume the controversial trade talks on Wednesday under the cloud of the predictions of the President of the United States Donald trump that there will be real progress.
    https://www.independent.ie/business/world/us-china-to-resume-trade-talks-in-washington-amid-low-expectations-37240433.html
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American and Chinese officials intend to resume the controversial trade talks on Wednesday under the cloud of the predictions of the President of the United States Donald trump that there will be real progress.

Discussions among mid-level officials may create a basis for further negotiations, as each country prepares to strike another with the new rates Thursday in a deepening dispute over the economic policy of China.

Trump threatened to impose tariffs on virtually all of the more than $ 500 billion. Chinese products exported to the United States if it meets its requirements.

  • Read more: us stock write trade fear dismissed

The two-day meeting, the first official U.S.-China trade talks with the U.S. Secretary of Commerce Wilbur Ross met with the Chinese economic counselor in June, he Liu in Beijing.

After talks in may, Beijing believes that the assurances from the US that tariffs were on the table. But less than 10 days later, the White house has said it will insist on punitive measures.

China stated that he hoped for calm negotiations to get a “good result on the basis of equality, equity and trust.”

But trump told Reuters on Monday that he did not “expect”. In an interview, said the trade dispute settlement “will take time because China is too good and too long and they become spoiled.”

Trump also accused China of manipulating its currency, the yuan, to offset the impact of tariffs, while claiming the US Central Bank should be more cooperative.

On Tuesday, however, officials trump the administration was largely silent about the next round of negotiations. Representatives of the U.S. Treasury, U.S. trade representative and U.S. Department of Commerce has not responded to inquiries about the Treasury-led meetings.

“These discussions at the working level with representatives of various departments of the administration,” a White house spokesman told Reuters. The official refused to comment further, but noted, own pessimistic comments trump in an interview with Reuters.

“This is to some extent temperature-taking exercise,” said Scott Kennedy, Director of research at the Center for strategic and international studies in Washington. “Expectations were probably low on both sides.”

Previous talks held at the Cabinet of Ministers, including the Deputy Prime Minister of China, Liu he, Minister of the Treasury Steven Mnuchin and trade Ross.

The talks on Wednesday and Thursday will be led on the lower-level officials, Finance Minister David Malpass and Chinese Deputy Commerce Minister Wang Shouwen. Deputy US trade representative Jeffrey Gerrish will also participate.

“Vice Minister of the Ministry of trade is not going to be empowered to make any great offer, but if the Chinese say one interesting thing, maybe you install a second meeting, and the level goes up a step,” said Derek scissors, Chinese scholar from the American enterprise Institute, a Washington think tank.

“But I would say that 80-90pc chance that they are not a waste of time, and therefore, no one in the administration talking about it”, he added.

Trump will eventually have to participate personally in the settlement of disputes with the Chinese President, XI Jinping, scissors said.

Trump administration presses China to make radical changes in economic policy to better protect the intellectual property of the United States, has stopped its efforts of industrial subsidies and open their markets to foreign competition.

In may, the U.S. government presented China with a long list of requirements, which also include reducing trade deficit with China of $200 billion annually. It is unclear whether this list was revised in the last round.

Beijing rejects US charges that it systematically force unfair transfer of US technology and insists that he adheres to the rules of the world trade organization.

Discussions this week are expected to do little to stop the planned activation 25pcs tariffs on another $16 billion in Chinese goods should enter into force at 12:01 a.m. EDT (0401 GMT), along with direct response rates expected from China $16 billion of American goods.

But this is only likely to provoke the opening of the trump of the second list of $200 billion to $300 billion of Chinese goods to be sent with the rates of us.

16 June, when trump first threatened to greatly expand its tariffs with the initial list of 200 billion of Chinese goods, said China’s tariffs on another $200 billion in goods if Beijing responded for a second time.

Erin Ennis, senior Vice President of business Council US-China, said that it was probably well for both parties, to begin with officials a much lower level, which could “get into the weeds” about the problems of protect IP that American companies face in China.

“It’s good that they’re talking, because not talking will not solve the issues, and it only leads to greater rates,” she said.

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