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


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Economy News - Baghdad

A US trade delegation in Beijing will conclude meetings with Chinese officials and return to the United States later on Wednesday after "a few good days," a US official said.

Asian stock markets jumped after the talks extended to a third unplanned day, fueling optimism that the world's two largest economies could reach a trade deal to avoid a global confrontation that could seriously disrupt the global economy.

Ted McKinney, US Deputy Secretary of Agriculture for Trade and External Agricultural Relations, made the remarks to reporters at the hotel where the delegation is staying.

"I think it went well, it was good for us," McKinney said. He gave no details.

The meetings this week were the first direct talks since US President Donald Trump and his Chinese counterpart Xi Jinping agreed in December to a 90-day truce in a trade war that triggered a shake-up in global financial markets.

The negotiations, originally scheduled for Monday and Tuesday, were extended for an additional day, with signs of progress on issues including the purchase of agricultural and energy goods from the United States and the opening up of Chinese markets.

But sources familiar with the talks told Reuters on Tuesday that the two sides disagreed on China's structural reforms demanded by Trump's administration to stop charges of theft and forced transfer of US technology and how Beijing would honor its commitments.

Trump said that if no agreement was reached by March 2, he would push forward customs duties to 25 percent from 10 percent of China's $ 200 billion in imports as China's economy slows sharply. China, for its part, charges counter-charges in response to US fees.

But with the conclusion of the meetings in Beijing on Tuesday night, Trump chirped, "The talks with China are going very well."

The US team is headed by US Deputy Trade Representative Jeffrey Gereish, and includes the deputy ministers of agriculture, trade, energy, treasury and senior White House officials.

Wang Xu-wen, vice minister of commerce of China, is leading the vice-ministerial talks as his country's representative, but Liu He, deputy prime minister and chief economic adviser to the president, attended a meeting on Monday.


Views 27   Date Added 01/09/2019

 
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China: We have made progress in trade talks with Washington

China: We have made progress in trade talks with Washington
 
 

10 January 2019 02:16 PM
Direct: China confirmed that it has made progress in trade talks with the United States , which was held this week, on the structure of such technology and intellectual property rights of forced transport issues.

The three-day round of talks between Washington and Beijing ended Wednesday in the Chinese capital, the first face-to-face negotiations since US President Donald Trump and his counterpart Xi Jinping met in Buenos Aires last December and agreed to a 90-day trade truce in their trade war.

The negotiations were originally planned to last only two days but lasted for three days because the two sides were serious, said a spokesman for the Chinese Ministry of Commerce, Gao Fanh, at a news conference on Thursday.

He stressed in his comments that issues such as the forced transfer of technology, intellectual property rights, tariff barriers and cyber attacks were an important part of the trade talks, saying: "There has been progress."

He stressed China's confidence in the possibility of reaching an agreement with the United States on trade conditions.

Trade frictions have been aggravated by the two largest economies around the world last year, with the United States imposing tariffs on Chinese goods worth $ 250 billion, which was met with retaliation by Beijing.

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Chinese FM calls for economic agreement with the United States as soon as possible

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Chinese FM calls for economic agreement with the United States as soon as possible

Chinese Foreign Minister Wang Yi said that his country and the United States need to reach an agreement on trade issues as soon as possible in order to calm the people of both countries and the world at large. "The two sides need to make concessions, reach an agreement as soon as possible, broadcast good news to the peoples of the two countries and calm the whole world," Wang Yi said in an interview with the People's Daily on the occasion of the 40th anniversary of the establishment of diplomatic relations between China and America.

The Chinese minister pointed to the remarkable progress of trade consultations between the two countries, stressing that dialogue is the only way to solve the problem. According to the Chinese Foreign Minister, Sino-US trade and economic cooperation is mutually beneficial in nature, as well as being an engine of Sino-US relations.

Both sides have a desire to expand bilateral cooperation, and there is a need and wisdom to reach a mutually acceptable agreement.

Trump pledged to increase tariffs on Chinese imports worth 200 billion dollars on March 2 if China does not address the theft of intellectual property rights, the forced transfer of technology and other non-tariff barriers.

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China Bows To Emperor Trump — Offers 6 Yr Buying Spree of American Goods to Reduce Trade Deficit to ZERO

January 20, 2019

 Joshua Finkelberg

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President Donald Trump looked the Chinese communist snakes dead in their shifty eyes and pulled a Dirty Harry, essentially saying: “Go ahead, make my day!”

Well, our vicious oriental adversaries are apparently not feeling very lucky. After months of a trade war, China is announcing their willingness to go on a buying spree of US goods in order to supposedly fix the growing trade deficit.

According to Bloomberg News, the buying spree would last for six years and aim to reduce the trade deficit to zero. The United States is allegedly unimpressed at the offer and are demanding more. This is a true “Art of the Deal” maneuver, considering China is the first to blink during this still-ongoing trade war.

“If China switches its imports from other countries to the U.S. — less Brazilian soybeans, more U.S. soybeans — that might help deal with their bilateral problem with the U.S., but at the expense of worsening imbalances with other countries,” said Tom Orlik, who works as chief economist for Bloomberg Economics.

“Over the years, China has used the offer of purchasing more technologies with national security applications as a gambit in trade negotiations,” Orlik added. “That’s always been unacceptable to the U.S. because of the strategic costs.”

Certain experts believe that this is another ploy by China to get the US to back off without permanently changing structural factors that will continue to give China an edge over the US in global trade.

“You can’t get rid of the bilateral deficit unless you shift the location of final electronics assembly out of China. The math doesn’t work,’ said Brad Setser, the former deputy assistant secretary for international economic analysis in the Treasury Department, to Bloomberg.

Of course, we should always expect the Chinese to be up to dirty, underhanded tricks as it is what they do best. Nevertheless, the fact that they are capitulating to Trump is an encouraging sign. It shows that Trump’s strong style is muscling concessions out of the belligerent Chinese.

The tough talk from Trump is achieving serious results. While the corporate hacks at the Heritage Foundation and CATO Institute may whine about muh tax hikes, Trump is showing the power of the tariff in terms of improving economic gains for real Americans. The Founding Fathers would be proud!

 

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China calls on the United States for a win-win relationship

China calls on the United States for a win-win relationship
 
 

23 January 2019 10:07 PM
Direct : Chinese Vice President said that the conflict between Beijing and Washington conflict hurt the interests of both sides, calling for the need to find a solution on this dispute.

Washington and Beijing have been locked in a mutual trade battle for several months, but both sides are now seeking to end their dispute through talks.

Wang Chi-Shan, in a speech on the sidelines of the Davos forum, said Wednesday that the United States and China can not do without each other.

"Because of the fundamental relationship between the two sides, there must be mutual benefits and a win-win relationship for both Washington and Beijing," he said.

US officials were expected to meet with their counterparts from China on the sidelines of the Davos forum, but US President Donald Trump apologized for attending the economic conference due to the longest government closure in history.

The world's two largest economies are expected to reach a deal before the deadline for a pre-agreed trade truce expires in March.

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29-01-2019 08:11 AM

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Baghdad

WASHINGTON (Reuters) - US President Donald Trump will meet with China's top trade negotiator this week in talks aimed at resolving the trade dispute between Washington and Beijing, US Treasury Secretary Stephen Menochin said .

Deputy Prime Minister Liu Hie is leading a 30-member delegation to Washington as the two countries work to reach an agreement before a three-month trade truce expires on March 1 .

"We expect significant progress in these meetings," Menuchin told reporters.

The trade war between China and the United States, which has seen heavy duties on goods worth more than $ 360 billion, has stirred up tensions in the market for months .

While Trump set up the escalating US trade deficit with China at the top of his priorities, US officials also call for far-reaching reforms of China's industrial policy to curb China's alleged theft of US technology and China's big government intervention in the market .

"The enforcement of any agreement and the protection of US intellectual property and the end of China's compulsory policy of joint ventures is a requirement to enter the Chinese market, the three most important issues on the agenda.

"We want to make sure that when we reach an agreement, it will be possible to implement this agreement," he said. "There is an agreement with China that they understand this."

Observers said China would reject any US demand that would be a barrier to the 'Made in China 2025' plan, which began in 2015, and aims to make China a global leader in technology in robotics, telecommunications and renewable energy vehicles.

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  • yota691 changed the title to Prepare A Meeting Between The US President And His Chinese Counterpart In Vietnam
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- US President Donald Trump and his Chinese counterpart, Xi Jinping, may meet in Da Nang, Vietnam, later this month, a South China Morning Post source said.

The two presidents are considering a bilateral summit on Feb. 27-28, just before the end of the lull in their trade war, due to end on March 1, the Hong Kong daily reported Sunday.

Trump said a few days ago that he looked forward to meeting with Shi to resolve the trade dispute. He said Xi sent him a message saying he also wanted to reach an agreement before March 1.

On December 1, 2018, the two presidents agreed to suspend their trade war for 90 days.

A Chinese trade delegation led by Deputy Prime Minister "Liu He" visited Washington a few days ago to continue negotiations. Both sides expressed optimism after the talks ended.

Trump is scheduled to meet North Korean leader Kim Jong-un later this month.

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08-02-2019 01:23 PM

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Baghdad

US President Donald Trump said on Thursday he had no plans to meet with Chinese President Xi Jinping before March 1, the deadline set by the two countries for a deal on trade .

Trump asked a journalist whether there will be a meeting before the deadline date, he said : 'No .

When asked if there will be a meeting next month or so, Trump said 'I do not know yet ... maybe.'

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 Arab and international


Economy News _ Baghdad

The dollar rose on Monday as concerns mounted that US-China trade talks could not resolve a trade dispute between the world's two largest economies.

The dollar is buoyed by the temptation of the US currency as a haven, while investors gather the world's most liquid currency amid fears of a severe global economic slowdown.

The US currency is headed for gains for the eighth day in a row.

US negotiators will press China this week to reform its approach to intellectual property rights for US firms.

The high-level talks in Beijing are the focus of investors, and many see the chances of a weak trade deal as expected and extend the March 1 deadline to increase US tariffs on imports from China.

The dollar index, which tracks the performance of the greenback against six other currencies, rose marginally to 96.74.

The Swiss franc was up 0.1 percent to 1.0006. 
The euro fell slightly against the dollar to $ 1.1322 while the Australian dollar rose 0.1 percent to $ 0.7096 after a catastrophic week lost 2.2 percent.


Views 0   Date Added 11/02/2019

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US Treasury Secretary hopes for "fruitful" trade meetings in China

12:57 - 13/02/2019

 
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Follow - up - balances News 
US Treasury Secretary Stephen Mnotchen said on Wednesday he hoped that the trade talks will be with China this week "fruitful", as countries seek to conclude an agreement after a dispute between them led to their exchange imposing customs duties on imports from the other State. 
The United States is set to increase tariffs on imports from China worth $ 200 billion to 25 percent from 10 percent if the two sides do not reach an agreement by March 1, adding to the suffering and costs in sectors such as consumer electronics and agriculture. 
As he left his Beijing hotel, reporters asked Manuchen about his hopes of a visit, without elaborating on "fruitful meetings". 
Manochin arrived in the Chinese capital Tuesday with US Trade Representative Robert Laitheiser.
US President Donald Trump said on Tuesday he would allow an extension of the deadline for a trade deal before the fee increases "for a short period" but preferred not to do so and is expected to meet with Chinese President Xi Jinping to finalize the deal sometime. 
Trump said last week he had no intention of meeting with his Chinese counterpart before the deadline for reaching an agreement with China on March 1. 
Menuchin Shalhajzer is due to hold talks on Thursday and Friday with Chinese Vice Premier Liu He, the country's top economic adviser.

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Report: Trump is considering extending the trade truce with China 60 days

Report: Trump is considering extending the trade truce with China 60 days


 February 14, 2019 12:11 PM
Direct : According to press reports that US President Donald Trump plans to extend the trade truce between his country and China for 60 days, at a time when the two countries are seeking to find a solution to their dispute commercial.

People familiar with the matter told Bloomberg on Thursday that Trump said on Tuesday that he was open to extending the period in which it was agreed to stop raising tariffs on Chinese imports worth 200 billion dollars for another two months.

China and the United States have agreed to suspend tariffs and try to reach a trade deal on March 1.

Trump is considering that option if the two countries were close to an agreement that sets out structural changes to China's economic policies, the sources said.

However, the sources indicated that the President stated that he was not inclined to implement that extension.

The sources stressed that Trump is considering the issue of extending the period or not with the aim of granting negotiations a longer period to continue.

Trump said yesterday that the trade talks between his country and China are going very well and both sides are working together to resolve the long-term dispute ahead of the deadline for the end of the trade truce on March 1.

He also announced this week that he was open to postponing the end of the trade truce, but noted that he did not prefer it.

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(Bloomberg) -- President Donald Trump is considering pushing back the deadline for imposition of higher tariffs on Chinese imports by 60 days, as the world’s two biggest economies try to negotiate a solution to their trade dispute, according to people familiar with the matter.

The president said Tuesday that he was open to letting the March 1 deadline for more than doubling tariffs on $200 billion of Chinese goods slide, if the two countries are close to a deal that addresses deep structural changes to China’s economic policies -- though he added he was not “inclined” to do so. The people said that Trump is weighing whether to add 60 days to the current deadline to give negotiations more time to continue.

“I think it’s going along very well,” Trump told reporters in the Oval Office this week. “They’re showing us tremendous respect.”

A spokeswoman for U.S. Trade Representative Robert Lighthizer declined to comment.

Chinese officials had initially proposed an extension of 90 days, but that was knocked back by the U.S. side, people familiar with that request said.

Asian stocks steadied and U.S. stock futures climbed. Treasuries slipped and the yen dipped.

Lighthizer and Treasury Secretary Steven Mnuchin are in Beijing for the latest round of high-level talks with Chinese Vice Premier Liu He on Thursday and Friday. A meeting between Lighthizer and Chinese President Xi Jinping is being tentatively scheduled for this week. Trump’s willingness to extend the deadline may depend on the outcome of that meeting, one of the people said.

Trump has indicated he will need to meet Xi to agree on a final deal. While no date has been set, a White House aide this week said the U.S. president still wants to meet his Chinese counterpart soon in a bid to end the trade war.

Negotiations this week are focused on how to enforce the trade deal and putting on paper a framework agreement to present to the two presidents.

In the talks, the U.S. is pushing for wide-ranging changes in the way China manages foreign trade and its own economy. Specifically, Lighthizer has zeroed in on China’s alleged abuses of intellectual property and state sponsorship of companies.

Trump has also railed against the size of the U.S. trade deficit with China, and negotiators have made varying demands about how Beijing addresses this. The goal of “reciprocal trade” has been a clear priority of Trump’s policies.

China wants to have the tariffs that have been imposed so far removed. To get the U.S. to do that, negotiators are trying to focus attention on their efforts to reduce China’s more than $300 billion goods trade surplus. Beijing has offered to ramp up its purchases from the U.S. massively over the next six years in order to even the scales.

It is going to take a lot of work to shrink that. While down from the record peak late last year, China still had a $27.3 billion trade surplus in goods with the U.S. in January, according to data released on Thursday in Beijing.

“The outcome of the China-U.S. high-level economic and trade negotiations may be related to the future development and stability of the world economy,” Chinese Foreign Ministry spokeswoman Hua Chunying said at a regular briefing Thursday in Beijing. “Both parties hope to reach a mutually beneficial agreement. The best thing we can do now is to let both sides concentrate on consultations.”

https://finance.yahoo.com/news/u-weighs-60-day-extension-034939190.html

 

 

 

Maybe Ann Coulter is right. Maybe this guy is a wimp.

Image result for ann coulter trump wimp

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WASHINGTON (Reuters) - US President Donald Trump is weighing various possibilities on how to deal with March 1 deadline for reaching a trade deal with China, White House spokeswoman Sarah Sanders said on Wednesday, adding that the final agreement was based on the Trump meeting and Chinese President Xi Jin Ping personally.

The United States is expected to increase tariffs on Chinese goods if the deadline is not met and the Asian giant is likely to pay the same response. But in the past few days, Trump has indicated flexibility on the deadline by saying on Tuesday he may postpone it a little.

US tariffs on imports from China will rise by $ 200 billion to 25 percent from 10 percent by March 1, increasing pain and costs in sectors ranging from consumer electronics to agriculture.

Sanders also said that reaching an agreement to end the trade war between the two economic giants would require a direct meeting between Trump and Shei, adding that the Mar-a-Lago resort in Palm Beach, Florida would be a good location for such a meeting.

Earlier in the day, Treasury Secretary Stephen Menuchin told reporters in Beijing that the talks between the two countries were going well. Manuchin arrived in the Chinese capital Tuesday with US Trade Representative Robert Laitheiser.

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UPDATE 6- Trump: China trade talks going 'very well' before high-level parley

 
Roberta Rampton and Ben Blanchard
Published 17 Hours AgoReuters
     
     
     
     
     
     

(Updates with Trump comments on trade talks)

WASHINGTON/BEIJING, Feb 13 (Reuters) - U.S. President Donald Trump said on Wednesday trade talks with China were "going along very well" as the world's two largest economies try to resolve their seven-month tariff war ahead of a March 1 deadline for a deal.

U.S. tariffs on $200 billion worth of imports from China are scheduled to rise to 25 percent from 10 percent if the two sides don't reach a deal by then, increasing pain and costs in sectors from consumer electronics to agriculture.

 

Trump told reporters at the White House his administration has a "big team of people, very talented people, over in China right now, negotiating on the China deal."

"It's going along very well. We'll see what happens, but I think it's going along very well. They're showing us tremendous respect," Trump added.

Trump's comments echoed those of U.S. Treasury Secretary Steven Mnuchin, who earlier told reporters in Beijing: "So far, so good," when asked about the progress of talks.

Mnuchin, along with U.S. Trade Representative (USTR) Robert Lighthizer, arrived in the Chinese capital on Tuesday for meetings with Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping, on Thursday and Friday. Deputy-level officials started talks on Monday.

The two U.S. cabinet officials will meet with Xi on Friday, the South China Morning Post reported, citing a source briefed on the arrangements. Representatives from the USTR's office and Treasury could not immediately be reached to comment on the report.

Trump met with Liu at the White House when a Chinese delegation came to Washington for talks at the end of January.

The U.S. president had said on Tuesday that the deadline for an agreement could "slide for a little while," but he preferred not to do so. Trump added he expects to meet with Xi to close the deal at some point.

Trump's advisers have described March 1 as a "hard deadline," but Trump told reporters a delay was possible.

Speaking to Fox News on Wednesday, White House Press Secretary Sarah Sanders said: "we'll see what happens on whether or not the president makes a move to change the deadline."

She also raised the possibility of a meeting between the leaders of the two countries, saying Trump's personal retreat at Mar-a-Lago in Florida would make a good venue.

"It will ultimately take ... President Trump and President Xi sitting down face-to-face figuring that out and getting that final deal because they are the only two that'll ultimately be able to nail that down," Sanders said.

Trump has said he did not expect to meet with Xi prior to March 1.

TALKS KICKED OFF MONDAY

U.S. Department of Agriculture Deputy Secretary Stephen Censky said on Wednesday the two presidents were expected to meet "sometime in March," but no dates were set.

"Hopefully they are going to be meeting and will be able conclude a deal," Censky told a renewable fuels conference in Orlando, Florida. "Agriculture has to be part of it. It's a necessary part of the deal."

A growing number of U.S. businesses and lawmakers hope the tariff increase is delayed while the two sides tackle the difficult U.S. demands for major structural policy changes by China. They include ending the forced transfer of American trade secrets, curbing Beijing's industrial subsidies and enforcing intellectual property rights.

The latest round of talks in Beijing kicked off on Monday at the deputy level to work out technical details, including a mechanism for enforcing any trade agreement.

China's Foreign Ministry referred questions on the talks to the Ministry of Commerce, which did not respond to a request for comment.

James Green, a senior research fellow at Georgetown University, believes China is seeking a Xi-Trump meeting, hoping it would make a near-term deal on tariffs far more likely.

"From their point of view, they would have dodged a bullet," Green, who was USTR's top official at the U.S. embassy in Beijing until mid-2018, told Reuters. (Reporting by Philip Wen, Ben Blanchard and Michael Martina in Beijing; Robarta Rampton, David Lawder, Susan Heavey and Lisa Lambert in Washington; Chris Prentice and Jarrett Renshaw in New York; Editing by Clarence Fernandez, Nick Macfie and Jeffrey Benkoe)

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Trump praises economic negotiations with China: very fruitful

01:59 - 17/02/2019

 
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Follow - up to the balance of News 
 US President Donald Trump explained that recent meetings between the negotiators of the United States and China in Beijing to conclude a trade agreement was "very productive." 
"Trade negotiators met in China, where the meetings on trade were very productive," the US president wrote from his home in Florida, in a tweet on Twitter. 
He stressed that the current tariffs "paid by the Chinese to the United States, while in fact paid by US companies, and ultimately the US consumers in an increase in price 
The US negotiators concluded two days of important talks in Beijing on Friday 
The US president sounded optimistic on Friday that the possibility of an end Of the trade war led against Beijing.

Trump confirmed Friday that negotiations were going "very well". "We are closer than ever in this country to conclude a real deal," according to Agence France-Presse 
The United States threatened to raise tariffs from 10 percent to 25 percent after the first of March on the value of 200 billion dollars of Chinese imports annually, in the event of failure to reach an agreement. 
at the end of the round of negotiations that ended meeting with US Treasury Secretary Stephen Mnotchen US negotiator Robert Aathaysr Chinese President Xi Jinping, both sides talked Friday about progress in the negotiations, but also admitted that "difficult issues" are still stuck .
The Americans said their demands were to stop Beijing from asking foreign companies to forcibly transfer technology to their companies as a condition of working in China, to respect intellectual property rights, to end piracy, to lift non-tariff barriers, but also to reduce China's trade deficit with the United States. 
Chinese media have expressed optimism, but US newspapers have said progress has been minimal in the most difficult issues requiring deep structural reforms by Chinese authorities.

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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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