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Chinese Ministry of Commerce: We will sign the trade deal in Washington next week


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One of the steel mills in China
One of the steel mills in China
The United States and China are about to reach an agreement to end the standoff initiated by US President Donald Trump last year and have angered Beijing for imposing additional tariffs on Chinese imported goods, the Wall Street Journal reported on Sunday.

The paper quoted unnamed sources as saying that negotiations between the two sides have witnessed remarkable progress and that there is an agreement on the horizon.The Wall Street Journal pointed out that Beijing is more likely to cut tariffs and lift other restrictions on agricultural and chemical imports and US vehicles.

China could also increase its purchases ofUS products, including natural gas from the Shinner Energy Group.

Washington is also ready to make concessions. The Wall Street Journal said US authorities were not opposed to canceling most of the sanctions imposed on Chinese products last year.

But there are still obstacles, although it is not unlikely that an agreement will be announced at a March 27 meeting between US President Donald Trump and ChinesePresident Xi Jinping .

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Washington delays tariff hike on Chinese goods "until further notice"

Washington delays tariff hike on Chinese goods "until further notice"

05 March 2019 02:54 PM
Direct: the United States, confirmed that it will postpone the increase in tariffs on Chinese goods as planned "until further notice" in reference to avoid escalation on the trade dispute between the two biggest economies in the world.

The US Trade Representative's Office said in a statement on Tuesday that the United States will postpone the scheduled date to increase tariffs on Chinese goods to 25%.

Tariffs of 10 percent to 25 percent were due to increase on January 1, but a trade truce signed between US President Donald Trump and his Chinese counterpart, Xi Jinping in early December, postponed implementation to March 1.

Last week , the US president decided to postpone the expiration date of the three-month trade truce because progress had been made in the ongoing trade talks between the two sides and subsequently postponed tariff increases.

According to the statement, US tariffs on products imported by the United States from China will remain at 10 percent until further notice.

Washington and Beijing are continuing talks on trade issues amid reports that a trade deal could be reached that would remove all US tariffs.

 
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China: We work with America day and night to reach a trade agreement

10:12 - 09/03/2019

 
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China and the United States are still working day and night to reach a trade agreement that meets the interests of the two sides and the world's hopes, said Wang Xuwen , vice minister of commerce on Saturday. 
Wang is heavily involved in trade talks with the United States. 
Wang said at a news conference on the sidelines of the annual meeting of the Chinese parliament that he was optimistic about negotiations with Washington and the two sides were working to reach an agreement to end the tariffs imposed by each side over the other during the trade war because mutual tariffs do not benefit either side. But he said that any commercial mechanism Achieved must be equal and fair.
White House business adviser Clint Willems said on Friday that Donald Trump's administration officials had not made any new plans to send a team to China for direct trade talks, although much work remained to be done to reach an agreement.

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  • yota691 changed the title to The United States and China are about to reach a trade agreement

With the yuan peg to the dollar .. Who manipulates the value of his currency really?

With the yuan peg to the dollar .. Who manipulates the value of his currency really?

 13 March 2019 02:50 PM
Editing: Sally Ismail

Mubasher: Who manipulates his currency? The United States or China! This is the problem that has surfaced recently, especially in light of the trade frictions between the world's two largest economies.

According to an analytical view published by Bloomberg OPINION, US President Donald Trump should look in the mirror: China is not the country manipulating the currency.

The United States has asked Beijing to keep the value of the yuan stable as part of trade negotiations between the two largest economies around the world, according to a report by Bloomberg News, citing sources familiar with the matter.

Washington fears that China could weaken its currency to counter the impact of high US tariffs on imports from the country.

But this perception is unfair. Despite the trade dispute, the People's Bank of China has effectively pegged the yuan to the dollar, tracking the green card cycle.

 

image.jpeg.87b8415fabf0d8007940d85a9d072f54.jpeg

Since 2015, China's central bank has been trying to move its currency into a basket of currencies with little success on the issue.

Chinese people still associate the value of their currency with the dollar, so when the yuan weakens on the strength of the green card, they begin to divert their money abroad.

Last August, when the Chinese currency was heading around 7 yuan per dollar, the People's Bank reintroduced the so-called counter-adjustment coefficient to the economic cycle, admitting that its attempt to move away from its peg to the dollar had failed.

The fact is that if the United States wants the yuan to be stable, it needs to stabilize the green card first.

President Donald Trump has repeatedly criticized the Fed over his Twitter profile for rising interest rates and has not hidden his desire for a weak dollar.

Federal President Jerome Powell changed the course of monetary policy last December, suggesting he may be more cautious about future interest rate increases.

In other parts of the world, this series of American events can easily be seen as currency manipulation.

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Looking at futures for the interest rate on reserve funds, 3-month forward contracts indicate that the market has shifted from expecting to see two further increases in interest rates this year to zero rate hikes.

The value of the currency depends on interest rate differentials at home and abroad, and the question: How does the US keep the dollar stable?

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The monetary policy of the United States raises signs of exclamation abroad. Unlike China, where economic growth is slowing, the US economy and inflation expectations remain at strong levels.

So why do central bank officials choose this time to talk about slowing down the Fed's balance sheet? Can the US Federal Reserve leave the monetary tightening cycle too early?

Certainly, the world wants a stable yuan. China's start to devalue its currency for competitive advantages would create a big dilemma for all other countries, but the United States should solve its problems first.

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Washington, Beijing clash over "belt and road"

 
Morning: Continue
 
 
As the United States and China exchanged sharp criticism at a UN Security Council meeting on "new silk routes" on Monday, Britain lowered its growth forecast for 2019, while Finance Minister Philip Hammond said removing the "doubts" surrounding Brixt was "the most pressing issue" for parliament. The meeting was mainly devoted to a resolution on Afghanistan, but tension between Beijing and Washington forced the Security Council to vote for a temporary extension of the UN mission in this country for six months instead of a year 
complete.
The New Silk Road, officially known as the "Belt and Road" initiative, is a giant Chinese project involving 123 countries that aims to build roads, railways and ports in Asia, Africa, and South and Central America.
 
Corruption and indebtedness
US Ambassador to the United Nations Jonathan Cohn on Friday criticized China for mentioning the initiative in the text of the resolution, "despite its very limited relations with Afghanistan, and its known problems related to corruption, indebtedness, environmental damage and lack of transparency."
China also accused Britain of negotiating Afghanistan at the United Nations "by focusing on China's national political priorities instead of the Afghan people."
The Chinese ambassador to the United Nations Wuhaitao responded to the Security Council, saying that the American accusations "contradict the facts and are full of prejudices."
"It is an economic cooperation initiative aimed at achieving shared growth and prosperity, and has nothing to do with geopolitical considerations."
The US decision on the mission in Afghanistan since 2016 includes a reference to cooperation with China's infrastructure project.
 
Great debt
The American insistence on withdrawing this reference from the text is in the context of criticism by US Vice President Mike Bens in 2018 to this Chinese initiative, as it caused large indebtedness to a number of 
the countries.
Britain has lowered its growth forecast for 2019, while Finance Minister Philip Hammond said removing the "uncertainties" surrounding BRICCAST was "the most pressing issue" for parliament.
The UK economy is expected to grow by 1.2 percent this year, a sharp fall from the government's 1.6 percent forecast in October, Hammond said, introducing new budget data hours before Parliament voted to allow Britain to leave Britain. EU without agreement.
Observers expect the House of Commons to vote in favor of postponing Britain's exit beyond the date of March 29, during a new vote expected 
Thursday.
The parliament overwhelmingly rejected on Tuesday the agreement to withdraw Britain from the European Union, which was agreed with Brussels.
 
local production
"I am fully aware that the House of Commons has other pressing issues to occupy today," Treasury Secretary Hammond told the House of Representatives after announcing that Britain's gross domestic product growth will be much lower than expected this year. The UK economy is also affected by China's slowdown and the tensions of war 
Commercial.
"The vote last night casts doubt on our economy," Hammond said in the budget speech. "Our most pressing task in this council is to remove those doubts."
"Going out without an agreement will mean short- and medium-term turmoil, and a smaller and less prosperous economy in the long run, compared to a consensus exit - higher unemployment, lower salaries and higher prices," he said. 
Shops".
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Trump: China's customs duties may remain in effect for a long time

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  • WASHINGTON (AFP)
History: 21 March 2019

WASHINGTON (Reuters) - US President Donald Trump said on Friday that punitive tariffs he imposed on China to force it to negotiate a trade deal could remain "in force for a long time."

Trump wants to keep the duties on more than $ 250 billion of Chinese products imported into the United States "because we want to make sure that if we conclude an agreement with China, it will respect them" and that the negotiations that have intensified with Beijing since the beginning of the year "are going well" .

Trump added that US trade negotiators will go to Beijing next week for another round of talks between the two countries.

US Trade Representative Robert Laitheiser and Treasury Secretary Stephen Menuchin plan to travel to China next week for another round of trade talks between the two countries, a Trump official said yesterday. The forthcoming direct talks will be the first since Trump postponed a March 1 deadline to avoid a tariff increase On imports from China worth 200 billion dollars from the current level of 10% to 25% The negotiations are aimed at ending an eight-month trade war between the two largest economies in the world.

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 Arab and international


Economy News Baghdad

A US trade delegation led by Trade Representative Robert Laitheiser and Treasury Secretary Stephen Menuchin will visit Beijing on March 28-29 for the next round of negotiations, the Commerce Ministry said on Thursday.

On the other hand, Deputy Foreign Minister Liu He will visit Washington in early April for further talks as the two largest economies in the world seek a trade deal to end months of differences, said Gao Feng, spokesman for the Ministry of Commerce.

Direct talks will be the first since US President Donald Trump postponed a March 1 deadline to avoid raising tariffs on imports from China worth $ 200 billion to 25 percent from their current level of 10 percent.

Trump warned on Wednesday that the United States may keep tariffs on Chinese goods for a long time to ensure Beijing's compliance with any trade agreement, adding to the uncertainty in the talks.


Views 10   Date Added 21/03/2019

 
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Report: China made unprecedented proposals in talks with Washington

Report: China made unprecedented proposals in talks with Washington

 28 March 2019 12:11 PM
Direct : According to press reports that China has made unprecedented proposals in talks with the United States , in particular with regard to the transfer of forced technology.

Sources familiar with the matter told the unnamed agency on Wednesday that China had made proposals on the table and that it had developed more than before, noting that the transfer of forced technology was among those proposals.

The sources confirmed to the agency that the negotiators have made progress on the details of the written agreement, which was subjected to the search in order to identify the concerns of America.

The source added: "If you look at the documents a month ago and compare it with what happened today, we are moving forward in all aspects." At the same time, the source confirmed that it has not yet reached what they aspire to.

"They talked about the forced transfer of technology as never before in terms of scope or detail," he said.

The source stressed that the talks continue as long as there is progress achieved in the core issues, "is likely to continue until May or June no one knows, it is also possible to continue until April do not know."

The US Trade Representative and China's Treasurer are due to visit China to complete the trade talks.

 
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 Arab and international


Economy News _ Baghdad

US Treasury Secretary Steven Menuchin said in a tweet on Friday that he had concluded with US Trade Representative Robert Leahyzer "constructive" trade talks in Beijing.

"I look forward to welcoming Deputy Prime Minister of China to continue these important discussions in Washington next week," he said in the tweet.

And Minochen Shalheiser in the Chinese capital for the first direct meetings between the two sides weeks ago after missing an initial goal of a summit between US President Donald Trump and Chinese President Xi Jinping at the end of March to sign an agreement.


Views 159   Date Added 03/29/2019

 
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 Arab and international


Economy News _ Baghdad

China will continue to suspend the imposition of new customs duties on US vehicles and parts after April 1, in a goodwill gesture following a US decision to defer an increase in tariffs on Chinese imports, the State Council said.

In December, China said it would suspend a new 25 percent increase in US vehicles and parts for three months following a truce in a trade war between the world's two largest economies.

The move was aimed at "continuing to create a new climate for continued trade negotiations between the two sides," the State Council said.

The government said it would announce separately when the suspension would end.


Views 19   Date Added 04/01/2019

 
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Report: Washington gives China until 2025 to fulfill its trade commitments

Report: Washington gives China until 2025 to fulfill its trade commitments

 04 Apr 2019 12:08 PM
Mubasher : According to press reports, the expected agreement between Washington and Beijing will give China until 2025 to meet its commitments on procurement of goods.

According to the agreement, China will pledge to buy more US goods, including soybeans and energy products, by 2025, informed sources told Bloomberg on Wednesday.

Sources told the agency that the agreement also includes that by 2025 foreign ownership will be allowed 100% of US companies to operate in China.

One source said China had so far only agreed to consider non-retaliation if the United States took action against it but did not reach the formal commitment to refrain from countermeasures.

One source told the agency that the text would also include benchmarks likely to be identified within 90 days and 180 days after the signing, during which China would be asked to meet key commitments without giving further details.

Later on Tuesday, China's top trade representative Lu Lu is scheduled to meet US President Donald Trump on the sidelines of his visit to Washington this week.

 
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IMF: Trump plan to reduce trade deficit with China will fail

IMF: Trump plan to reduce trade deficit with China will fail

04 April 2019 12:18 p
Direct : International Monetary Fund warned that US President Donald Trump 's attempts to curb the trade deficit of the United States with China by imposing customs duties first and then start trade negotiations will be doomed to failure.

A study by the IMF said Wednesday that overall economic conditions were more important than tariffs or trade deals in causing or shrinking the trade deficit.

The IMF believes that the US president's decision to impose tariffs on China last year will do little to reduce the trade deficit with Beijing, but may encourage US companies to buy goods from countries other than China.

The IMF pointed out that the imposition of high customs duties on a country had little impact on reducing the trade deficit between the two countries.

The growth of the US trade deficit is often driven by increased spending, not by unfair trade with Washington, the study said.

"Simply put, the US spent more than it produced, so it had to import more goods from its trading partners," the IMF said.

The IMF study concluded that economic trends were the most important in determining trade balances and were consistent with the latest US data showing that the US trade deficit with China rose by about 43.6 billion dollars to 419.2 billion dollars last year as they started a trade war.

The study comes at a time when Washington is trying to reach a trade deal with Beijing to end the dispute between them through negotiations.

 
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 Arab and international


Economy News - Baghdad

The White House said after three days of trade talks with Chinese officials in Washington that the negotiations "have made progress on many key issues" but "much work still remains" to be done.

White House spokeswoman Sara Sanders said US and Chinese negotiators "will remain in constant contact to resolve outstanding issues" in trade talks.


Views 30   Date Added 06/04/2019

 
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US Treasury Secretary: Washington, Beijing agree on mechanism for implementation of trade agreement

US Treasury Secretary: Washington, Beijing agree on mechanism for implementation of trade agreement


 10 April 2019 10:44 PM
Direct : US Treasury Secretary said that the United States and China have reached a mechanism on the implementation of a trade agreement between the two parties.

"We have largely agreed on the implementation mechanism, with China and the United States setting up executive offices to deal with the ongoing issues," Stephen Menuchin told CNBC on Wednesday.

The US Treasury Secretary said that Washington and Beijing are taking the potential trade deal seriously, adding: "We are really focusing on the implementation of the documents of the agreement."

Minuchin said the meeting with Chinese Vice Premier Liu He on Tuesday was "fruitful".

The US Treasury Secretary said negotiations with the Chinese side would continue on Thursday, adding: "We still have some important issues to address."

"We hope that we can resolve outstanding issues quickly, and if we can complete this agreement, these will be the most important changes in the economic relationship between the United States and China over the past 40 years. 

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MANOSHIN: We hope for a close trade deal with China

MANOSHIN: We hope for a close trade deal with China

29 Apr 2019 04:43 PM
Direct : US Treasury Secretary said that trade talks scheduled to be held in Beijing this week will focus on important issues remain unresolved but on the verge of completion.

"There are still some important issues and there is still more work to be done," Stephen Menuchin told Fox Business on Monday.

"In the case of a full agreement," he said, "it will include real provisions for implementation, those provisions are close to implementation only need a little harmony."

The US Treasury Secretary and Trade Representative are due to start talks with the Chinese Vice Premier on Thursday in Beijing.

The talks will cover trade issues, including intellectual property, the transfer of forced technology, non-tariff barriers, agriculture and services, according to a White House statement.

"We hope the next two rounds in China and Washington will be at the point where we can tell the president that we have a deal or not," Manochin said.

 
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White House: China's trade talks could be resolved within two weeks

White House: China's trade talks could be resolved within two weeks

30 April 2019 09:31 PM
Directly: see the Chief of Staff at the White House that the US President should Donald Trump 's management to learn more about whether they will sign a major trade agreement with China within two weeks.

"When someone asked me how long the negotiations would last, I did not have a specific answer," Mick Mulvani told the Milken Institute's World Conference on Tuesday.

"Negotiations will not last forever," he said. "We are either close to accomplishing something and negotiations will continue, but on the other hand, at some point we may see that we have to stop because these negotiations will not work.

Mulfani believes that this problem will be resolved within the next few weeks.

When asked by Treasury Secretary Stephen Menuchin that the White House could announce an agreement with Beijing in the next two weeks, Mulvani said: "I think this may be appropriate."

The United States and China are conducting trade negotiations late last year on the backdrop of a trade truce between the two sides that was supposed to end in March but was extended until further notice without a fixed date.

 
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@Botzwana Do you really think that a trade agreement has anything to do with an RV? I ask with the utmost sincerity. That's an interesting thought.  Please tell me why you think that.  

If anyone has the same thought, please explain.  Inquiring minds want to know. 

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China is an adversary.  They will be like North Korea, and Iran, smile, shake hands, and sign a piece of paper. The next day it will be business as usual, hacking, spying, stealing, and working their agenda.  They need us for now but make no mistake they are just waiting for the right opportunity to hose us.  Read their 2025 plan.  

 

https://thediplomat.com/2019/02/made-in-china-2025-explained/

 

https://www.china-briefing.com/news/made-in-china-2025-explained/

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3 minutes ago, Botzwana said:

Yes I do Cranman.  I have said it before.  I think this is a much bigger picture than an HCL etc.  Just think...for YEARS Decades in fact, Iraq money was worth 4, 3 to 2 bucks.  Was there an HCL then?  No right?  They were in the Stone age in the forties.  YET, had a currency that was worth it.  No computers etc.  No advanced banking system whathaveya.  

Fair enough.  I like that line of reasoning.  Time will tell.  I hope you are right.  It would be nothing short of excellence to get off this train. 

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Caz, I’ve been writing for months that I thought the RV may have to wait for Trump to get his trade deal done not only with China but Europe, Mexico, Canada, Japan, South Korea, Australia, etc, etc. 

 

We are not going to allow whatever is getting ready to happen, (world currency reset, Iraq getting ready to be an economic powerhouse etc, etc,) without the US being the main beneficiary.  We are not going to hand over the bank to China.  I’m sure Trump and his team may be using the reset, RV as a bargaining chip. ( I have no articles or facts to back this opinion, more of educated guess). We will see but it sure seems everything is lining up.  

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  • yota691 changed the title to Chinese Ministry of Commerce: We will sign the trade deal in Washington next week

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