Beijing – This week, Chinese and US negotiators focus on a trade agreement that will allow their presidents to hold a possible summit, taking into account people with knowledge of the issue.
both governments are trying to narrow the still big gap between the concessions China wants to offer and what the Short administration will accept. Medium-level officials began discussions with the Chinese Ministry of Commerce on Monday. Then, a high-level US delegation headed by sales representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will hold two-day talks on Thursday with Chinese Vice President Liu He and his companion.
Both sides expect to push the ground, said people to complete it at a meeting between President Trump and Chinese President Xi Jinping. The date for such a session was not set. Last week Mr. Short decided to reject the meeting before March 1
. you agree to extend the deadline for Chinese goods to 200 billion. US dollar rates will fall to 25% from 10% at 12:01, Saturday, March 2.
Some p. meeting, stating that market expectations for a transaction would reduce its leverage effect as soon as the summit is held. After January Finally, Vice-President Liu went to Washington for a round of talks, p. Lighthizer has warned that if both parties do not take further steps this month, he will advise him. Short for "We Can't Finish"
Qilai Shen / Bloomberg News
Since then there have been signs that Mr Short will reconsider. "He's about to meet President Xi shortly," senior Kellyanne Conway said in an interview with Fox News on Monday. "This president wants to come to an agreement."
Until now, Beijing still did not want to rely on the issues that it sees as the most important in communist party power. This includes abolishing government subsidies for state-owned companies and other policies that underpin the state-led economic model. Washington sees such steps as are necessary to create a level playing field for American businesses operating in the second world.
When Liu was in Washington, Chinese officials talked about buying Chinese agricultural and energy products and services, accelerating China's market opening efforts in sectors such as financial services and production, and improving the protection of US intellectual property rights, according to people who reported discussions. The Chinese leadership believes that all these measures are in the interests of the nation
The splitting of the splinters has survived in areas such as Beijing can deal with US complaints that Chinese authorities and companies are pushing US companies to share technology and what Washington is calling for a protectionist industrial policy in Beijing that favorable to state-controlled companies at the expense of US competitors
Beijing denies that US companies are still under pressure from technology transfer. Instead, Chinese officials said that foreign companies are sharing technology on a voluntary basis in exchange for access to Chinese markets. The issue of forced technology transfer is the main reason for US support for Beijing in recent years, and major companies complained about threats and pressures to transfer proprietary information and technology to Chinese partners.
More on US and China Trade Conflict
Last Year's Recommendation p. For the Lighthizer office, the US-China Business Council, representing more than 200 American businesses engaged in China, has proposed several ways that Beijing could address such issues. One of them was the introduction of independent, transparent regulatory groups, which, as they say, occasionally occur with expert councils, which are currently reviewing new products before commercial production, by commercial secrets of foreign companies. This week, it is likely that China will be proposing but leaving issues such as China's industrial policy to presidents, as people say
The next challenge facing both sides is how to make sure that Beijing respect their promises. US officials, who have been complaining for years of poor Chinese follow-up, are trying to make provisions to allow Washington to reintroduce Chinese commodity rates if Beijing fails to complete certain phases – "send back" in the trade or leave existing taxes and phase out if Beijing meets agreed criteria.
The Chinese negotiators returned to both ideas, saying that these mechanisms would violate China's sovereign rights. Former US negotiators say Beijing may be more acceptable in the selection process
Wendy Cutler, a former US Trade Representative office negotiator, said Korea had agreed to such a provision in the US-Korea Free Trade Agreement. The answer would also be easier than leaving the tariffs until Beijing reaches certain guidelines, she said, because compliance issues are usually not clear and US tariffs would be politically complex
Both Washington and Beijing have economic incentives to prevent tariff fighting. China's economy is slowing down faster than expected, with more than half of the 31 provinces in the country failing to meet their growth targets last year. Partly because September The US applied 10 percent. In addition, the tariffs applied to exports of Chinese exports to the USA by 2018 are subject to the China's $ 50 billion tariffs have been exceeded
. On the other hand, the US also feels like the slowdown in China's rebates and China's economy. "The trade ceasefire will not end unless both parties recognize that no one will overcome the war on trade," said Yu Yongding, a member of the 50-member Forum of Chinese Economists, an advisory group advising Chinese policy makers.
to Lingling Wei, firstname.lastname@example.org, and Bob Davis, email@example.com