Last Update 22:46
Thursday, 24 October 2019

US lifts tariffs on 400 Chinese products, Trump wants 'complete' trade deal

Reuters , Friday 20 Sep 2019
Yangshan Deep Water Port in Shanghai
File Photo: Containers are seen at the Yangshan Deep Water Port in Shanghai, China August 6, 2019 (Reuters)
Share/Bookmark
Views: 799
Share/Bookmark
Views: 799

US President Donald Trump said his administration was "making a lot of progress" with China on Friday, as deputy-level trade talks continued for a second day and Washington lifted tariffs on over 400 Chinese products.

Trump, speaking to reporters at a White House meeting with Australian Prime Minister Scott Morrison, said the United States was taking in billions of dollars from tariffs imposed on Chinese products, adding that the total would soon reach $100 billion.

Talks were going well, though, he indicated. "I will say this: we're making a lot of progress with China," the Republican president said.

China agreeing to more agricultural purchases would not be enough, he said. "We're looking for a complete deal. I'm not looking for a partial deal," he said, adding that he did not need a deal to happen before the 2020 presidential election.

The Trump administration and China's Communist Party remain far apart on issues that are the basis of their trade dispute, including the US declaring some Chinese state companies national security risks, and Beijing's refusal to revamp its economic model by eliminating subsidies for state companies.

The United States Trade Representative's office issued three Federal Register notices exempting a wide range of products from tariffs in response to requests from US companies, which argued that the levies would cause economic hardship.

The 437 exempted products range from printed circuit boards for computer graphics processors to dog collars, laminated wood flooring and miniature Christmas lights.

Chinese and US negotiators are holding two days of talks that were expected to focus heavily on agriculture, and lay the groundwork for high-level talks in early October that would determine whether the two countries are working toward a solution or headed for new and higher tariffs on each other's goods.

A delegation of about 30 Chinese officials, led by Vice Finance Minister Liao Min, met counterparts at the US Trade Representative's (USTR) office near the White House. Deputy USTR Jeffrey Gerrish led the US delegation.

The United States is asking that China substantially increase purchases of American soybeans and other farm commodities, a person with knowledge of the planned discussions told Reuters.

Chinese delegates will visit American farm regions with US officials next week, in a gesture of goodwill.

Trade experts, executives and government officials in both countries say that even if the September and October talks produce an interim deal, the US-China trade war has hardened into a political and ideological battle that runs far deeper than tariffs and could take years to resolve.

At the White House, Australia's Morrison said a US-China deal would put global trade on a stronger footing.

Observers in Beijing said the new tariff exemptions were a welcome sign, but the trade talks remain on a delicate footing.

The exemptions are "seen as a goodwill signal by China," Hu Xijin, editor of the influential state-run tabloid Global Times, said Friday on Twitter. "Interaction of goodwill between China and the US is still fragile." 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.