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The US has offered China to hold new trade talks - WSJ

on Thu Sep 13, 2018 7:48 pm
US Presidential Administration Donald Trump has invited the Chinese side to hold another round of trade talks to prevent the introduction of new customs restrictions on Chinese goods, the total cost of which is $200 billion a year.

This is reported by The Wall Street Journal with reference to its sources.

As noted, negotiations should take place by the end of September 2018. The corresponding invitation to take part in the talks has already been sent by US Treasury Secretary Stephen Munchin.

The reason for the proposal to hold another round of trade talks was that some representatives of the American government "felt weak in the position of the Chinese leadership", which is why they hope for a more flexible China position in the conclusion of a new trade agreement.

At the same time, according to The Wall Street Journal, some US leadership intends to insist on introducing new duties on Chinese imports, even if negotiations with China are successful.

In the United States, on July 6, 25% customs duties on goods from China came into force. The total cost of new restrictions is estimated at $16 billion.

In Washington, the introduction of such duties was explained by the fact that "Chinese enterprises conquer US intellectual property and technology, and also Beijing practices unfair practices on the market."

At the same time, the Chinese authorities are planning to introduce similar US customs restrictions on US goods. After that, Trump threatened China with new charges of$ 200 billion.

In general, since the beginning of a trade dispute with China, the United States has imposed customs restrictions on $50 billion in Chinese imports.

In addition, Trump threatened to impose duties on another $267 billion in goods from China.

On the eve of Trump warned a number of American companies , in particular Apple, about the transfer of their production outside of China because of the probable rise in price of their products.

The US Customs has pushed the leaders of China and Russia to deepen bilateral cooperation, in particular to counter Tramp's trade policy.

Recall that on May 29th, it was also learned about Tramp's plans to introduce regular tariff restrictions on additional $50 billion in Chinese goods in mid-June 2018. This decision contradicts the message of the US Ministry of Finance that, at the time of trade negotiations, no new customs duties on Chinese goods will be introduced.

In order to resolve the trade disputes between countries, non-public talks began. Subsequently, there were known US demands for China to stop the "trade war" between the countries.

China and the United States have agreed to increase US $60-90 billion in imports of US goods to resolve trade disputes.

In the United States, they were told that they would insist on signing long-term contracts for the supply of American goods to the Chinese market.

Trade relations between the United States and China were one of Donald Trump's pre-election campaign priorities. Each year, China sells goods to the United States more than $ 300 billion more than American products.

The United States also imposed duties on steel and aluminum. The EU and Canada reported being complaints to the World Trade Organization.

hromadske.ua  In Ukrainian/український
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