Hopes rise over US-China trade resolution - but issues remain

28 February, 2019, 06:42 | Author: Sally Reid
  • US President Donald Trump delays China tariff increase on trade deal 'progress'

China and the United States are inching ever closer to reaching a mutually beneficial and win-win agreement with substantial progress achieved on specific issues in their latest round of high-level economic and trade talks ending on Sunday in Washington.

Reuters reported exclusively on Wednesday that the two sides are starting to sketch out an agreement on structural issues, drafting language for six memorandums of understanding on proposed Chinese reforms.

Well, at the end of this week, the US was set to raise the tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent.

The fight threatens to disrupt global trade and weigh on economic growth that shows signs of faltering. The issues include an enforcement mechanism to ensure that China complies with any agreements.

"Yes, there are challenges -many longstanding, and many past commitments remain unfulfilled", Stratford said in the report. "Once you move from putting together outlines to filling out the details, that is where things would naturally become more challenging".

Washington is demanding Beijing change the way it does business with the United States, demanding more access for USA companies, enforcement of intellectual property protection and an end to industrial subsidies. The remarks follow several days of meetings between teams led by Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He.

For example, in the Paris climate accords, one of the reasons the USA withdrew was because it required next to nothing out of China, which emits 9 billion metric tons of carbon dioxide every year and growing, compared with 5 billion by the U.S.

Iran Foreign Minister Mohammad Javad Zarif resigns as his nuclear deal teeters
However the USA has threatened sanctions on European companies doing business with Iran, putting the future of the deal in doubt. The post included a drawing honoring Fatima, the daughter of the Prophet Muhammad, as Iranians commemorate her birth Tuesday.

The two nations met for a seventh round of talks last week, the third in a month, to try to make headway.

The negotiations appear to be edging towards a comprehensive trade deal that would include six memorandums of understanding that touch upon forced technology transfers, cyber theft, intellectual property rights, services, currency, agriculture, and non-tariff barriers to trade.

Should Trump feel compelled to cut a deal, even if it means having to forgo some of the major sticking points on the list of USA priorities, that could pave the way for more oil and gas exports to China.

Trump approved tariffs on around $200 billion of Chinese imports, including $1 billion in bike products previous year, with the initial round of tariffs coming in to effect on Monday 24 September, starting at 10%.

Recent tariffs imposed by the Trump administration have cost US businesses 2.7 billion USA dollars in November 2018 alone, according to data released by Tariffs Hurt the Heartland, a campaign backed by the Washington-based National Retail Federation (NRF), the world's largest retail trade association. Lastly, how is the USA going to hold China accountable?

USA and Chinese negotiators met in Washington through the weekend, working toward a deal that would end a tit-for-tat tariff battle that began in mid-2018.

In his February 5 State of the Union address, Trump said a China trade deal "must include real, structural change to end unfair trade practices, reduce our chronic trade deficit, and protect American jobs".



$30m payout for wrongly convicted man
Coley had no prior criminal record before the murders, Brown noted, and he was a model prisoner, dedicating himself to religion. An unidentified male's sperm and possible saliva was discovered on a sheet; Coley's DNA was not found in the samples.

Huawei Mate X Vs. Galaxy Fold: Foldable Phone Comparison
Unlike Samsung Galaxy Fold (which sports a notch for camera module), the Oppo phone doesn't have any cutout or notch on unfolding. The stage was darkened so little could be seen other than a big, bright foldable screen - proving that Samsung's phone was real.

House to vote to overturn Trump's emergency declaration
They could hand their president an embarrassing setback, forcing him to use his first veto of his administration. Vice President Mike Pence is expected to discuss the issue with GOP senators during their weekly private lunch.

Mahershala Ali wins second Oscar in three years
Seated in the audience, Lee waved his hands in disgust and appeared to try to walk out of the Dolby Theatre. Other writers from the film declined to address Lee's reaction to the outcome of the best picture contest.

R. Kelly pleads not guilty to sexual abuse charges
Kelly posted bail on Monday afternoon and was released from the Chicago jail where he spent the weekend, officials said. The "Step In The Name Of Love" singer was arrested on several counts of sexual abuse this past weekend.

YouTube loses advertisers over "wormhole into pedophilia ring"
Nevertheless, major advertisers like Epic Games , GNC , and Nestlé have responded by dropping advertising from YouTube . In a statement to GameCentral, a spokesperson for Epic said: 'We have paused all pre-roll advertising .

Spike Lee Wins His First Competitive Oscar
And again, not one other screenwriter who shared the award with Lee had a chance to speak. There was a lot of joy to be had onstage at the 2019 Oscars, but Spike Lee and Samuel L.

100 vehicles gutted in fire at Aero India 2019 show
An unstubbed cigarette butt thrown on dry grass of the parking lot is suspected to have led to the fire on Saturday afternoon. Since the area is replete with dry grass , the accompanying strong winds rapidly spread the fire.

Saudi Arabia announces princess as USA ambassador
Princess Reema bint Bandar, ex-chief of Saudi multi-sports federation, is a graduate in museology from a United States university. She returned to Saudi in 2005 and has been involved in several initiatives both in the private and public sectors ever since.

Manchester United vs. Liverpool
We started really well, exactly like we wanted. "I just don't think we were good enough with our movements or final ball", he said.