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

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China confirms its intention to resume trade talks with Washington

 20 June 2019 01:15 PM
Directly : Ministry of Commerce in China confirmed that senior officials have and from the United States will hold trade talks after instructions from their leaders.

China hopes the United States will listen to its manufacturers, stop tariff threats and launch trade war, said Geo Feng, spokesman for China's Ministry of Commerce.

On Tuesday, the Chinese president agreed to meet with his US counterpart on the sidelines of the Group of 20 summit in Japan next week.

Trade talks between China and the United States stalled last month after decisions to increase tariffs on each other's imports.

However, the Beijing government has confirmed that key differences from the US side remain, including the elimination of all additional tariffs.

Both sides are in agreement on commercial procurement and the balanced context of each trade agreement.

China stressed: "These three basic things are not reachable compromises on them."

Asked whether China's basic conditions for resuming trade talks were still linked to the three issues, Feing said, "The basic position for the trade talks has been constant ... Our basic demands must be met."

 

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China calls on America to give up winning mentality at all costs

Economy | 11:10 - 23/06/2019

 

 

 

Continue to Mawazine News 
The official Chinese People's Daily called on the United States to abandon the win-win mentality at any cost, and take into account the interest of its citizens and the international community as well, rather than wage a trade war against China. 
The Communist Party of China (CPC) newspaper urged the United States to abolish duties on all Chinese goods, stressing that the only way to resolve trade issues is through "equal dialogue". 
The resumption of trade negotiations between Beijing and Washington was renewed ahead of a meeting between Chinese President Xi Jinping and his US counterpart Donald Trump in Japan, where the two will take part in the G20 summit this week. 
The Office of the US Trade Representative is holding seven-day sessions to hear testimony from manufacturers and other business sectors likely to be affected by Trump's proposal for a new round of tariffs on Chinese goods worth $ 300 billion.
All previous sessions showed "enormous" opposition to tariff increases by citizens from all walks of life, but this made no difference, the Chinese newspaper said. 
"It seems that some in the United States are waving a cartoon stick to promote what is called an 'industry competitive advantage'," Reuters quoted the Communist Party of China (CPC) newspaper as saying. 
Earlier Friday, the US National Retail Federation said the proposed tariffs on Chinese goods include mobile phones, computers can afford consumers in the United States an additional cost of $ 12.2 billion every year. End 29 / s

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US trade agreement with China up 90%

 26 June 2019 01:58 PM
Direct: US Treasury Secretary Stephen Menochin said about 90 percent of the US-China trade deal has been completed.

"We have completed about 90 percent of the deal, and I think there is a way to complete this," Manouchein told CNBC in Bahrain on Wednesday.

He expressed confidence that US President Donald Trump and his Chinese counterpart Xi Jinping could make progress in stalled trade talks at the Group of 20 summit in Japan this weekend.

The Treasury Secretary said the message the US wanted to hear was that China wanted to return to the negotiating table and follow up the talks.

"I think this is because there is a good result for their economy and for the US economy to get a balanced trade and continue to build on that relationship.

But Menuchin did not give details about the remaining 10 percent of the trade deal or what points needed to finalize a deal between the two sides.

The US Secretary of State expressed optimism about the possibility of moving forward with a plan.

 

[yota691]

Report: Washington is ready to postpone the application of new tariffs against China

 26 June 2019 12:00 pm
Direct : According to press reports that the United States was prepared to suspend the next round of additional tariffs on goods coming from China worth $ 300 billion.

People familiar with the matter told Bloomberg on Tuesday that the decision, which is still under consideration, is likely to be announced after the meeting between the US president and his Chinese counterpart at the end of the week.

The sources, not named by the agency, confirmed that the United States would not accept any additional tariff terms as part of a reopening of the negotiations, and that the summit between Donald Trump and Shei Jin was not expected to include a detailed trade agreement.

"The United States is ready to delay the new tariffs at the moment because Beijing did not agree to meet otherwise."

Trump is scheduled to meet the Chinese president on the sidelines of the summit of the 20 leaders in Japan on Saturday to discuss trade issues.

The US administration said the aim of the meeting was to create a path for a trade deal, after talks stalled last month.

One source pointed out that although each side wanted to secure significant concessions from the other side, the two sides agreed to stop peer-to-peer statements and to target a truce that could calm the financial markets, while the two sides resumed talks.

 

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"Bank of America." Oil is expected to drop to $ 30 if the yuan is devalued

 26 June 2019 11:45 p
Bank of America Merrill Lynch sees further deterioration in bilateral relations between the United States and China could trigger a series of events that could eventually lead to a fall in oil prices by more than 50 percent.

"The issue of trade and Iran has become one issue, and it will end up making oil prices at $ 30 a barrel a possible scenario," Frisico Blanche, head of global commodities at the US bank, told Bloomberg on Wednesday.

The Bank of America analyst said President Donald Trump could decide to raise tariffs on China's remaining imports of $ 300 billion if no agreement was reached with the Chinese president at the summit of the 20.

"This may cause the Chinese authorities to make the yuan weaker and make dollar-denominated oil more expensive for the world's biggest crude importer and halt global demand growth," Blanche said.

"Beijing can also ignore US sanctions against Iran and resume crude imports from there," Blanche said. "You could get 2 million extra barrels of oil from Iran and as demand for crude falls on the other hand, where do you think prices can go?"

Bank of America expects Brent and Nymex to reach $ 63 and $ 56 a barrel respectively in the second half of this year.

By 8:40 am GMT, the benchmark Brent crude for August delivery rose 1.3 percent to $ 65.90 a barrel.

US crude futures for August delivery rose 1.8 percent to $ 58.87 a barrel.

 

[yota691]

Report: China's president will give Trump terms of settlement of trade deal

 27 June 2019 02:01 PM
Direct: A recent report said that Chinese President Xi Jinping is expected to extend his US counterpart , Donald Trump conditions expected to be met by the United States before settling commercial conflict.

A report published by the Wall Street Journal, quoting Chinese officials, said on Wednesday that one of the conditions Beijing is preparing is to ask the United States to lift the ban on the sale of US technology to Huawei Technologies.

According to the report, China also expects the United States to drop all tariffs on Chinese goods in addition to stop efforts to push Beijing to buy more US exports.

Chinese goods valued at $ 200 billion exported to the United States are subject to US tariffs of 25 percent.

President Donald Trump and President Xi Jinping are due to meet in Osaka, Japan, this weekend on the sidelines of the G-20 summit .

"We urge Washington to stop the pressure and punitive measures on Huawei and other Chinese companies," spokesman Gao Feng said Thursday.

 

[yota691]

This is something to watch...

 

 

 

US bank: Trump may lower the value of the dollar more

 

The 
number of readings: 99

 

 

 

Agency of the orbit -
Baghdad

The value of the US dollar has fallen to a minimum since August last year for the Russian ruble.

Bank of America confirms that this is not the final limit, because US President Donald Trump may decide to devalue the US currency. The bank, one of the country's largest financial institutions, has warned investors that the US authorities intend to float the dollar. Trump will take this decision under the banner of spreading stability in the economy.

"If the Federal Reserve's move to cut interest rates appears to be insufficient, then the likelihood of official intervention in the monetary issue will increase," said Michelle Meir, an economist at Bank of America and a currency analyst at Ben Randall.

In 2018, the US economy grew by 2.9 percent, but by the end of the year, it slowed significantly.

According to the International Monetary Fund, the US GDP growth rate will decline over the next two years. Experts predict a recession by 2021, due to a huge government debt of over $ 22 trillion and a $ 1 trillion budget deficit resulting from a sharp increase in the cost of servicing this debt, as well as a sharp escalation of the trade war with China.

These experts predict that the 'soft' recession may occur in 2020, despite the expected reduction in interest rates.

Experts point out that Trump publicly and explicitly abandoned the "strong dollar" policy that his predecessors held in power.

Trump believes that the 'strong dollar' hinders the export of US goods and services, and only exacerbates the trade deficit. In 2018, the index reached an unprecedented figure of $ 621 billion. If the dollar becomes cheaper, the foreign consumer will prefer to buy US goods, which will increase production and reduce the deficit in foreign trade.

Last week, Trump fiercely attacked ECB President Mario Draghi and accused him of deliberately cutting the euro against the dollar.

Trump consistently asserts that China deliberately reduces the value of its currency - the yuan, making its exports cheaper and increasing the trade imbalance with the United States.

But experts fear that Trump's continuation of the 'weak dollar' policy could undermine the growth of the US economy.

[yota691]

658 viewsJun 25, 2019, 10:29am

Trump's Wish For A Lower Dollar Finally Comes True

 

Charles Wallace Contributor 

Policy

U.S. President Donald Trump speaks at the White House. T Photographer: Kevin Dietsch/Pool via Bloomberg

 © 2019 BLOOMBERG FINANCE LP

President Trump has finally got his wish: The almighty U.S. dollar is finally moving lower against other currencies, even the Chinese renminbi. But the change is more likely the result of the weaker U.S. economic outlook than foreign governments caving to Washington’s pressure.

While these are tiny adjustments, hopes that the dollar will stop being world’s reserve currency are probably misplaced for the foreseeable future. With the U.S. dollar as reserve currency, the United States must as a matter of accounting run up huge trade deficits, which Trump has repeatedly argued against.

 

 

 

“We think the U.S. dollar peaked on June 18 and expect a 5%-6% move lower in the (dollar index) through year-end,” said Hans Redeker, a currency strategist at Morgan Stanley in London, in a note to clients. What’s the reason? “The Fed changed matters last Wednesday by turning more dovish earlier. The pressure point of growth-negative news has switched from pressuring equity prices lower to lowering U.S. rate expectations.”

In foreign exchange markets, it is axiomatic that as a country’s interest rate moves lower, so does the value of its currency in terms of other currencies that keep their interest rates stable. Now that the Federal Reserve is talking about a possible rate cut, that is putting downward pressure on the dollar, which is great for American exporters but not so cool for American tourists headed to Europe.

 

Unlike many of his predecessors who argued for a strong dollar, Trump had raised the prospect of a currency war last when he lashed out at Mario Draghi, head of the European Central Bank, for talking about possible stimulus measures for the European economy. It was the same sort of thing the Fed is also considering. Draghi’s statements caused the euro currency to drop against the dollar.

Trump said in a tweet that Draghi was “making it unfairly easier for them to compete against the USA. They have been getting away with this for years, along with China and others.”

The fact is that the world currency markets trade more than $1 trillion a day, and currencies move up and down according to policy initiatives that are announced such as Draghi’s comments about stimulating the European economy.

But another fact is that in 1958 the world’s then major trading nations agreed to use the dollar in international settlements. But a Belgian economist named Robert Triffin correctly foresaw that with all those U.S. dollars flowing out to other countries, the US would always run a current account deficit, which includes the trade deficit. The only alternative would be to drive up interest rates to attract the dollars back to the U.S., but that might cause a recession.

Paradoxically, because of the U.S. withdrawal from the Iran nuclear accord, a number of countries, including Russia, China and Iran are exploring the creation of an international reserve currency other than the dollar. It’s felt that the U.S. has weaponized the dollar by blocking other countries from making payments to third parties such as Iran and Syria.

The problem is that no other country wants its currency to be the world’s reserve currency because then its exports would collapse and it would run up a huge trade deficit, just as the U.S. has done.

That leaves creating an international currency such as the International Monetary Fund’s Special Drawing Rights. But doing run-of-the-mill business in SDRs would a huge pain.

[yota691]

China buys US soybeans before meeting Trump and Shi

28 June 2019 10:39 PM
Direct : China bought more than half a million tonnes of US soybeans this week, before the upcoming meeting between the two leaders.

US President Donald Trump will meet his Chinese counterpart Xi Jinping on Saturday to discuss outstanding trade issues on the sidelines of the G20 summit in Japan.

China bought 544,000 tons of US soybeans for about 200 million US dollars this week, the largest since March, US Agriculture Department data showed on Friday.

Chinese buyers have made purchases of soybeans from the United States amid hopes that the Trump-Wuxi meeting will result in a trade truce or a solution to the outstanding issues between them.

China had committed to import at least 20 million tons of US soybeans after Trump and Shi met at the G20 summit in Argentina late last year.

US farmers planted 80 million acres of soybeans this spring, the smallest area since 2013, the data said.

 

[yota691]

Trump: Trade talks with China are "back on track" and no new fees

Economy | 01:41 - 01/07/2019

 

 

 

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US President Donald Trump said trade talks with China were "back on track" after making concessions, including not imposing new tariffs and cutting restrictions on Huawei Technologies to ease tensions with Beijing. 
Trump said China had agreed to make new non-specific purchases of US agricultural products and return to the negotiating table. No deadline has been set for progress towards an agreement. There are still major differences between the two largest economies in the world

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China: Existing US tariffs must be canceled to implement trade agreement

04 Jul 2019 02:19 PM
Direct : China stressed that the US tariff list should be canceled if it shall implement the trade agreement between Washington and Beijing.

China's trade ministry said Thursday that trade teams from both countries were in contact, signaling trade talks would resume.

The US administration announced yesterday that telephone talks with Chinese negotiators are scheduled for next week.

At the end of last week, the two presidents agreed to resume trade talks, stop tariffs on mutual imports and lift the ban on Huawei.

"China now welcomes the US president's decision not to introduce new tariffs on its goods," he said, in response to a question as to whether the trade truce could continue.

The United States currently applies customs tariffs of 25 percent on imports from the United States worth 250 billion dollars.

 

[yota691]

Washington and Beijing are working to lift the war from a $ 360 billion trade

Economy | 11:41 - 06/07/2019

 

 

 

Mawazine News 
US officials have announced a date for high-level trade talks with China next week by telephone, but so far no meeting has been scheduled for US and Chinese officials face to face. 
Efforts to prepare for a new round of talks come a week after President Trump and his Chinese counterpart Xi Jinping met in Japan and agreed to resume their stalled negotiations. 
But Beijing this week showed no sign of softening its stance. The Commerce Department said any decision required Washington to raise tariffs on Chinese imports last year. 
"I know they are working to set a date for face-to-face meetings," Larry Kodlo, chief economic adviser to the White House, told Fox Business Network on Friday.
"I do not know if this will happen next week, I think the phone calls are this week, but face-to-face talks may need another week, but I do not want to go that way." 
An official at the US Trade Representative's office told AFP that efforts were under way to set a date for contact between senior negotiators next week. 
At the same time, the South China Morning Post reported Friday that the talks were due to resume in Beijing next week. 
Trade talks between Washington and Beijing have stalled since May, when Trump accused Chinese negotiators of backing away from core commitments they had made during previous months of negotiations.
Beijing and Washington have imposed duties on goods worth $ 360 billion in bilateral trade since last year, triggering financial markets and pressure on the industry, and raised fears of weakening the global economy.

[yota691]

China calls for accelerated yuan conversion of world currency

Economy | 02:55 - 06/07/2019

 

 

 

 

 

Follow up - Mawazine News

China's Export and Import Bank Chairman Hu Xiaolian called on Saturday to speed up reforms aimed at turning the Chinese currency into a global currency and warned that external risks linked to global trade protection could hurt the financial sector. 
"There have been barriers in terms of trade, investment, inter-firm cooperation, technology exchange and so on. This makes us really fear that the financial sector, which is fueling the economy and an important supporter of globalization, will be adversely affected," she said. 
China is locked in a trade war with the United States, which has led to the exchange of goods by the two countries for hundreds of billions of dollars. The US administration also tightened control over Chinese companies, including telecom giant Huawei, which was barred from entering the US market and effectively curtailed its ability to buy US technology.
The change in the trade and investment environment points to the country's need to better plan for any potential problems, Hu said. 
"I think the pace of converting the yuan into a global currency should move at a faster pace," she said. 
China's currency conversion to a global currency has suffered a setback since 2016 due to tougher government restrictions to curb overseas capital outflow under the yuan's weakness. 
Hu stressed the need to strengthen the ability of the Chinese financial sector as a whole to compete as a precondition for the Chinese currency to become global, including efforts to modernize financial institutions, expand opening and financial modernization and remove distortions in loan pricing.

[yota691]

Chinese bank president calls for accelerated yuan conversion of world currency

 

An employee prepares notes from the Chinese yuan. "Reuters"

Arab and international Economy News Baghdad China's Export and Import Bank Chairman Hu Xiaolian called on Saturday to speed up reforms aimed at turning the Chinese currency into a global currency and warned that external risks associated with global trade protection could hurt the financial sector. "There have been barriers in terms of trade, investment, inter-firm cooperation, technology exchange and so on. This makes us really fear that the financial sector, which is fueling the economy and an important supporter of globalization, will be adversely affected," she said. China is locked in a trade war with the United States, which has led to the exchange of goods by the two countries for hundreds of billions of dollars. The US administration also tightened control over Chinese companies, including telecom giant Huawei, which was barred from entering the US market and effectively curtailed its ability to buy US technology. The change in the trade and investment environment points to the country's need to better plan for any potential problems, Hu said. "I think the pace of converting the yuan into a global currency should move at a faster pace," she said. China's currency conversion to a global currency has suffered a setback since 2016 due to tougher government restrictions to curb overseas capital outflow under the yuan's weakness. Hu stressed the need to strengthen the ability of the Chinese financial sector as a whole to compete as a precondition for the Chinese currency to become global, including efforts to modernize financial institutions, expand opening up and financial modernization, and remove distortions in loan pricing. Views 131   Date Added 06/07/2019

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US official: Treasury Secretary and Trade Representative spoke with Chinese officials today

 09 July 2019 11:40 PM
Direct: A US official said that senior trade officials in the United States held talks with their Chinese counterparts on Tuesday , where Washington and Beijing are working to settle a business deal.

US Trade Representative Robert Laitheiser and Treasury Secretary Stephen Manuchein spoke with Chinese Vice Premier Liu He and Commerce Minister Zhong Shan on Tuesday to continue negotiations, the White House said on Tuesday.

The US official said US and Chinese officials would continue trade talks as needed.

President Donald Trump met his Chinese counterpart Xi Jinping on the sidelines of the G-20 summit in Japan late last month and agreed not to impose new fees and complete the talks.

Earlier in the day, White House Chief Economist Larry Kudlow said Trump's view was that buying US agricultural products was very important for Beijing.

 

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Report: Trump looking for a way to devalue the dollar

10 July 2019 02:16 PM
Mubasher : Press reports said the US president had asked his aides to look for ways to weaken the dollar, with fears that a strong dollar could threaten its economic agenda.

Donald Trump asked about the dollar in a job interview last week with Judy Shelton and Christopher Woller, both of whom he chose for the Fed board seats, Bloomberg quoted sources familiar with the matter as saying on Wednesday.

The sources confirmed that Trump expressed regret that the strength of the currency may ease the economic boom, which is expected to be the reason for his support for the transition to a second term.

At the same time, the sources stressed that Larry Kennedy, Trump's economic adviser and Treasury Secretary Stephen Menuchin, objected to any US intervention to weaken the currency. 

According to the sources, Waller, who is the Federal Reserve's vice president in the state of St. Louis, told Trump that the Fed does not take into account the value of the dollar when it makes its decision on the interest rate.

Last week, Trump wrote in a tweet on the social networking site Twitter that the United States had to tell China and Europe "the game of currency manipulation, we have to compete with them in that, or continue to be dolls that sit and watch politely while other countries continue Her games, as they did for many years. "

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Manochin: Possible phone talks on trade with China this week

 16 July 2019 02:25 PM
Direct: said US Treasury Secretary Stephen Manoucan that he might travel , accompanied by Trade Representative Robert Atheirz to Beijing to hold trade negotiations if the talks over the phone this week constructive.

"We expect to hold another phone call this week, to the extent that we are making significant progress," Manuchen told a news conference with reporters at the White House on Monday.

"I think there is a good chance to go to China later.

The planned telephone conversation is the second time that talks have been held for chief trade negotiators since US President Donald Trump and his Chinese counterpart Xi Jinping met at the G20 summit in Osaka, Japan, at the end of last month.

The two leaders agreed to restart the talks, which collapsed in May over the trade deal, but have not set a timeframe for reaching an agreement.

"Everyone wants to reach a deal as soon as possible and that is why we are negotiating and making efforts," he said.

Manuchin believes the two sides are very close to completing a trade deal but there are outstanding issues to be resolved.

 

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Trump: We have a long way to go for a business deal with China

 16 July 2019 08:22 PM
Direct US President Donald Trump said that the United States still has a long way to conclude a trade deal with China.

The US president said at a White House meeting on Tuesday that Washington could impose tariffs on Chinese goods worth $ 325 billion if needed.

Trump explained that China was supposed to buy US agricultural products and that its management was watching to see if Beijing would do so.

US Treasury Secretary Stephen Menuchin said he would travel with trade representative Robert Laitheiser to Beijing for trade negotiations if telephone talks this week were constructive.

Last month, the United States and China agreed not to raise tariffs and return trade talks, but Trump still threatens tariffs, saying Beijing has not kept its promise so far.

 

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IMF: Dollar is above its real value

 

Arab and international Economy News _ Baghdad The International Monetary Fund (IMF) said that the US dollar is above its real value of 6% to 12%, based on the fundamentals of the economy in the near term, unlike the euro, the yen and the yuan.  The IMF rejects US President Donald Trump's use of customs duties to resolve trade imbalances, but his assessment of the dollar as being above its real value is likely to give additional ammunition to Trump in his repeated complaint that the strength of the dollar hampers US exports.  Trump criticizes European and Chinese policies, which he says are leading to a devaluation of the euro and other currencies against the dollar. An IMF annual report on currencies, surpluses and external deficits of major economies shows that current account surpluses remain concentrated in the euro area and other advanced economies such as Singapore, while the deficit remains largely in the US, UK and some emerging market economies.  The IMF, which warned that the US-China trade war could cost the world economy about $ 455 billion next year, said recent trade policy measures weighed on global trade flows, undermined confidence and disrupted investment, but failed to tackle external imbalances so far. .  Instead of exchanging tariffs, surplus and deficit countries, according to the IMF, should revive liberalization efforts and strengthen the multilateral trading rules regime, which has been in force for 75 years. Views 52   Date Added 07/18/2019

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Report: 50 global companies intend to move their business outside of China

 18 July 2019 09:04 PM
Direct: a press report that China is striving to stop more than 50 global company plans to move its business outside of China because of tariffs imposed by the United States.

A report by the Nikkei newspaper said on Thursday that the Chinese government was easing restrictions and offering benefits to prevent the desertion of more than 50 global companies, including Apple and Nintendo, more than a year after Beijing's trade war with Washington.

The report said Apple had informed suppliers that it was considering transferring 15 percent to 30 percent of iPhones outside of China, and HP and Dell were planning to transfer 30 percent of the production of Notbook outside of Beijing.

Tesla is at the forefront of Chinese efforts to prevent foreign companies from leaving the country, where the company is now moving the equipment to its new factory in Shanghai.

The report noted that the electric car company had obtained the place of the plant at a discount from the local government and is likely to have received loans at a cheap price also.

China has begun a gradual opening up of foreign companies since 2018, when trade tensions with the United States deepened. 

China's foreign direct investment rose 3.5 percent year-on-year to nearly $ 70.7 billion in the first half of this year, according to the Ministry of Commerce.

Beijing also announced late last month that it would ease restrictions on foreign investment in seven areas, including oil and gas.

 

[yota691]

MENOSHIN: There is no change in the dollar policy so far

18 July 2019 06:01 PM
Direct : US Treasury Secretary Stephen Manuchen said there is no change in the policy of the dollar so far.

After many accusations against Europe and China of manipulating the local currency, US President Donald Trump said Washington must also manipulate the currency in order to be fair.

"There has been no change in dollar policy, and this is something we can study in the future, but so far there has been no change in that framework," Manuchen told a news conference after a meeting of G7 finance ministers on Thursday.

The US Treasury Secretary declined to comment on the current levels of the green card.

Asked if he thought a strong dollar was in the interest of the state, he said: "I will not make any specific comments on the dollar policy or the euro-dollar policy."

A newspaper report said the US president had asked his aides to look for ways to weaken the green card.

 

[yota691]

A US delegation will travel to China to resume trade talks next Monday

 23 July 2019 09:19 PM
Direct : Press report said US Trade Representative Robert Aathaysr and senior officials in the United States intend to travel to China next Monday for the resumption of trade talks.

The US Trade Representative and a small team will remain in Shanghai until Wednesday, the Bloomberg news agency quoted unnamed sources as saying on Tuesday.

The meeting is expected to include a broad discussion of outstanding trade issues, the report said.

The talks are the first high-level face-to-face trade negotiations between the world's two largest economies since the talks broke down in May.

The United States and China agreed to return to trade talks and not to increase tariffs during President Donald Trump's meeting with his Chinese counterpart Xi Jinping last month on the sidelines of the G20 summit.

This month, the US president said that slowing China's growth would force it to make a trade deal with the United States.

 

[yota691]

Manochin: US trade delegation will visit China next week

 24 July 2019 04:02 PM
The US Treasury Secretary expressed optimism about the future of trade talks with China next week, but stressed that there are still many issues that need to be discussed.

In a statement to CNBC, Steven Menuchin said on Wednesday that Tejari's team, headed by the US Trade Representative, would travel to Shanghai on Monday for two days of meetings.

This is the first time a US delegation will travel to China after the resumption of trade talks between the world's two largest economies.

"I would like to say that there are still a lot of issues. My expectation is that our next meeting in China will be followed by another meeting in the United States later and we hope to continue to progress," he said.

At present, the United States is applying customs tariffs of 25 percent to China's imports of 250 billion dollars.

But last month, the heads of the world's two largest economies agreed to halt further tariffs.

 

[yota691]

Report: Trump distracts from intervention in the currency

26 July 2019 10:20 PM
Directly: it revealed a news report that President Donald Trump decided not to interfere in the US currency, after inviting officials of the Council of Ministers and senior economic advisers on Tuesday to discuss the issue.

The US president recently said that the United States should manipulate its domestic currency, such as China and Europe, to achieve fair competition.

The CNN network quoted unnamed sources as saying Friday that the main discussion at the meeting was how to weaken the dollar.

Among the ideas discussed were proposals for capital controls, Treasury Secretary Stephen Menochin and economic adviser Larry Kudlo would talk about the dollar in the media, the report said.

Manucheen said this week that the strong dollar is good for the US economy in the long term.

Kudlo also said in remarks today that the United States would not intervene in the local currency after White House officials agreed not to intervene.

The sources added that the meeting ended without a decision on the policy of the US currency, but acknowledged that Trump hopes that the media will continue to appear to the officials in the cause of his cause.

 

[yota691]

Including Gulf states .. Trump calls on the World Trade Organization to delete the status of "developing country" rich countries

 

 

Baghdad

US President Donald Trump on Friday called on the World Trade Organization (WTO) to change the status of a group of member states, including the United Arab Emirates, Qatar and Kuwait, threatening to take unilateral action against it if this does not happen.

In a special note, Trump addressed the United States representative to the Organization by working to push for reform for developing countries.

Trump said the reform should aim to prevent "unilaterally declared" developing countries from harvesting "unfair trade benefits" because of WTO rules.

Trump said in a document that a group of members - the UAE, Qatar, Kuwait, Turkey, China, Hong Kong, Brunei, Macao, Singapore, Mexico and South Korea - described themselves as developing although rich.

The US president vowed that if the WTO did not achieve "substantial progress" in reforming the area within 90 days, it would stop its dealings with those countries as developing countries. He said that the United States would not support any of these countries within the framework of the Organization Economic Cooperation and Development.

"The World Trade Organization (WTO) is going bankrupt while the world's richest countries claim they are developing to circumvent the rules of the organization and get special deals," Trump said in a tweet on Friday. "Enough!"

Trump continued: "Today, the United States Trade Representative directed to take action to stop those countries deceiving the regime at the expense of the United States."