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


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Washington and Beijing are nearing completion of some parts of the partial trade agreement

Washington and Beijing are nearing completion of some parts of the partial trade agreement

 25 October 2019 06:54 PM
Direct: The US Trade Representative 's office said the United States and China Ohrzata progress in the negotiations and were close to end parts of the first phase of commercial transactions.

The Trade Representative's office said in a statement on Friday that trade negotiators from China and the United States have made progress on specific issues and are about to finalize some parts of the agreement, according to the network "CNBC" America.

US Trade Representative Robert Lighthizer and Treasury Secretary Stephen Mnuchin held talks with Chinese Vice Premier Liu He on Thursday.

"Discussions will continue continuously at the level of deputy officials, and managers will have further discussions in the near future."

Earlier this month, US President Donald Trump announced that Washington and Beijing had reached a very important partial agreement to be completed over three weeks.

Trump said the agreement would address issues including intellectual property and financial services, as well as China's pledge to buy $ 40 billion to $ 50 billion in US agricultural products.

The world's two largest economies are seeking a trade deal in a bid to end a series of tariffs, with a partial deal expected to be signed next month at the Asia-Pacific Economic Cooperation summit.

 
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Signs of a breakthrough in the trade dispute between China and America

 
Capitals / Agencies
 
WASHINGTON (Reuters) - Washington and Beijing are making "progress" on key issues in their trade dispute, the office of US trade representative Robert Lighthizer said on Monday, and talks between representatives of the world's two largest economies will continue.
US President Donald Trump spoke last week of progress in drafting a preliminary trade agreement with China, likely to be signed next month, but details were still rare, while the two sides did not announce the withdrawal of trade duties on goods worth hundreds of billions of dollars. 
Dollars.
 
Discussions continue
US Trade Representative Whitehaiser and Treasury Secretary Stephen Munchen spoke by telephone with Chinese Vice Premier Liu He about the "first phase of the US-China trade agreement," the trade representative's office said.
The office said in a statement: "They have made progress on specific issues and the parties are close to the completion of some sections of the agreement," according to "AFP".
The statement did not provide any further details, but pointed out that the talks "will continue at the level of deputies and directors and will be brought together another phone call in the near future."
 
Economic cooperation
"China is obliged to increase purchases of US agricultural products, and the agreement also covers intellectual property, financial services and currency exchange," Bush said.
Trump expected the signing of the agreement with the Chinese president before the Asia-Pacific Economic Cooperation summit in Chile next month.
"We are doing very well with China. China wants an agreement. They want to get some fee reductions," Trump told reporters on Friday.
 
Freight charges
The White House suspended a significant increase in duties on Chinese goods worth $ 250 billion on October 15, but a new 15 percent increase on other goods worth $ 150 billion is still listed for entry into force in December.
The Chinese economy has been suffering for more than a year from the repercussions of a trade dispute with Washington, which has been translated by mutual imposition of additional customs duties on hundreds of billions of dollars worth of goods.
GDP growth in the second quarter was 6.2 percent, the lowest level in at least 27 years.
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Information / Baghdad

The Chinese Ministry of Commerce announced that the Chinese and US negotiating teams reached a preliminary agreement on trade between the two countries.

Chinese Deputy Prime Minister Liu He had a telephone conversation with US Trade Representative Robert Lighthizer and Treasury Secretary Stephen Mnuchin.

The Chinese Ministry of Commerce said in a statement on Friday that the two sides "had a serious and constructive discussion on how to address the main points of concern and reached agreement on principles."

The ministry said the two sides also discussed the arrangement of the following discussions on the subject.

For his part, the US Trade Representative's office announced "progress in various areas" during the Whitehouse and Manuchein discussions with China.

The US office did not confirm the initial agreement announced by the Chinese side.

The United States and China are working on an agreement on trade that is intended to end the "trade war" waged by the administration of US President Donald Trump earlier.

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Trump says trade deal with Beijing to be signed "somewhere in the US"

Trump says trade deal with Beijing to be signed "somewhere in the US"

 04 Nov 2019 12:43 PM
Direct: US President Donald Trump said that the first phase of the trade deal with China will be signed somewhere within the United States.

Trump said in comments with reporters at the White House last weekend that the signing of the trade deal would happen once it was completed.

The US president pointed out that he is looking at several sites to sign the trade deal, which could be "Iowa" one of them.

Trump had previously proposed Iowa as a site to formalize the trade agreement.

The deal was due to be signed this month during a meeting with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation summit in Chile before it was canceled due to unrest in the country.

The US president wrote in a tweet last week through his official account "Twitter" that the announcement of the location of the deal will be signed soon.

Meanwhile, US Commerce Secretary Wilbur Ross said Sunday that Alaska and Hawaii, as well as sites in China, are all possible locations for Trump and Xi to sign the deal.

Ross is also optimistic that the United States will strike a preliminary agreement with China this month before working on additional boilers.

 
 
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Date: 2019/11/5 11:42  54 read times
China's president pledges more openness and free trade
BEIJING (Reuters) - Chinese President Qi Jinping vowed on Tuesday to open up more in the Chinese economy, saying the world should "tear down walls" at a trade fair in Shanghai.
Chi spoke to an audience including French President Emmanuel Macron, who was at the forefront of the opening of the China International Imports Fair, which Beijing organizes annually to show its willingness to liberalize its enormous markets, amid criticism that it surrounded these markets with some form of protection.
He said the international community "should continue to demolish the walls rather than build them, firmly reject protectionism and unilateralism, and constantly reduce trade barriers."
However, Qi Jinping did not elaborate, so he is unlikely to calm foreign critics who accuse China of pursuing protectionist measures and failing to implement reforms it has promised.
As China and the United States continue to make efforts to sign a partial trade agreement announced last month, the Chinese president has avoided addressing the issue of retaliatory tariffs with the United States.
The contrast between Che's speech today and his speech last year was apparent at the height of the confrontation with Washington, when he addressed the US administration, criticizing "protectionism", "isolationism" and "jungle law," without naming the United States in particular.
In remarks after Chi, Macron complained that the trade war between the United States and China "only creates losers" and adversely affects global growth.
He hoped that the two giant economic powers would be able to reach an agreement that "preserves the interests" of other trading partners, led by the European Union.
Macron denounced "unilateral steps and the use of cartoons as a weapon", without naming Trump directly. But he also said the opening of Chinese markets should be "faster and more transparent."

At a summit in Bangkok, Prime Minister Narendra Modi said he feared that cheap Chinese goods could flow into Indian markets, leading to "an unsustainable trade deficit."
The Comprehensive Regional Economic Partnership Agreement was supposed to include several Asian countries, 30 percent of global gross domestic product, and about half of the world's population.
But in Shanghai he hoped "the agreement will be signed and come into force soon."
He also said China would be "happy" to reach free trade agreements with other countries, adding that his country's officials would speed up negotiations on an investment agreement with the EU, as well as another with Japan and South Korea.
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China sets the reference price of the yuan at the highest level since August

China sets the reference price of the yuan at the highest level since August

 06 Nov 2019 01:50 PM
Direct: China set the yuan exchange rate on Wednesday at the highest level since early August, amid trade optimism.

The People's Bank of China (PBOC) set the benchmark yuan on Tuesday at 7.0080 yuan per dollar, the highest level since Aug. 8.

The Chinese central bank allows the local currency to move within a 2 percent margin compared with the maximum reference price in the up and down trends.

The decision comes a day after the Chinese currency traded below 7 yuan per dollar in yesterday's trading for the first time since early August.

According to many statements recently that there is optimism in the trade situation between the United States and China in anticipation setting a date and venue of the deal signed partial commercial.

By 10:29 am GMT, the Chinese yuan rose against the US dollar by 0.2 percent to drop the green paper to 6.9985 yuan.

 
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China: We agreed with Washington to eliminate tariffs at various stages

China: We agreed with Washington to eliminate tariffs at various stages

 07 November 2019 11:06 AM
The United States and China have agreed to phase out tariffs on each other's goods, the Ministry of Commerce said.

A spokesman for China's Ministry of Commerce, Gao Geng, said Thursday that the two sides had agreed in the past two weeks to drop tariffs imposed during the months-long trade war at different stages, citing Bloomberg.

A spokesman for the Chinese ministry that the amount of tariffs to be canceled can be negotiated amid the assertion that the recent talks were constructive.

He added that the volume of tariff reduction that will come in the first phase, which will be signed in the coming weeks, will depend on the content of that agreement.

Geng said he had no further information on where or when the first phase of the trade deal would be signed.

The reports yesterday indicated that it is likely to postpone the date of signature until next month, which frustrated investors about ending the ongoing trade war 16 months between the two biggest economies in the world.

 
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The United States collects record $ 7 billion in tariffs in September

The United States collects record $ 7 billion in tariffs in September

 07 November 2019 01:20 PM
From: Sally Ismail

Direct: The trade war cost the Americans a record $ 7 billion due to tariffs last September.

Data from the Heart of Hertland Tariffs, an alliance of trade and agricultural groups opposed to tariffs, revealed on Wednesday that Americans paid a total of $ 7.1 billion in September in the form of high-level tariffs, an increase of about $ 600 million compared to the previous month.

US government revenue from tariffs rose by about 9 percent in September on a monthly basis but increased by more than 59 percent on an annual basis.

According to the data, these tariffs come as negotiations continue between the United States and China on the signing of the first phase of the trade deal.

Consumers and US companies have paid an additional $ 38 billion since the start of the trade war in February 2018 through September 2019.

These new figures are based on the analysis of the US Department of Commerce and compiled by economic consulting firm "Trade Partnership".

 
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Trump: China has tricked us for years but the trade agreement is approaching

Trump: China has tricked us for years but the trade agreement is approaching

12 November 2019 10:38 PM
Direct: US President Donald Trump said that China and the United States fool in trade throughout the years, but pointed out that the two largest economies in the world are close to the commercial transaction.

"Since China's accession to the WTO in 2001, no one has manipulated or benefited from the United States any more," Bush said in his speech at the Economic Club in New York on Tuesday.

Instead of blaming China for that, Trump said former US presidents who negotiated trade deals allowed the deals to be manipulated, damaging American workers, especially those in the industry.

It was not only China that was criticized by the US president, but the EU had a bigger share.

"Many countries impose unusually high tariffs on us, creating impossible trade barriers," he said.

In another context, Trump said that the trade deal with China will occur soon, noting that the United States is close to the completion of a partial trade agreement with Beijing.

 
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17820.jpg
White House economic adviser Larry Kudlow in Washington. Reuters
  

 Arabic and International


Economy News - Baghdad

White House economic adviser Larry Kudlow said there would be no tariff adjustments until a trade deal with China was concluded.

In an interview with CNBC television, Kudlow said the United States and China have made progress on intellectual property theft, financial services, currency stability, commodities and agriculture.

Earlier on Tuesday, US President Donald Trump signaled the possibility of a preliminary trade deal with China "soon" but gave no details on the negotiations.

Kudlow also said he did not believe the United States needed negative interest rates, contradicting Trump's comments that he favored negative interest rates.


Views: 21   Date Added: 13/11/2019

 
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On Oct. 11, President Trump announced a “phase one” trade deal with China. A month later, it looks more like a phase zero deal.

There is, in fact, no trade deal with China. Trump’s negotiators haven’t even agreed among themselves what they want from China, making it a three-way negotiation between China and two factions in the White House.

Trump keeps pumping out smoke, saying at a speech in New York City on Nov. 12, “we’re close. A significant phase one trade deal with China could happen. It could happen soon.” But Trump has been peddling false hope about a China trade deal for nearly a year, and like a desert mirage, this alleged deal is always just out of reach. Last December, after meeting with Chinese President Xi Jinping, Trump said, “It’s an incredible deal. It goes down, certainly, if it happens, it goes down as one of the largest deals ever made.” If you’re wondering what deal that was, well, yes—there was no deal.

A major tell on the hollow of Trump’s trade taunts is dissension in the White House. Hard-liners such as White House economist Peter Navarro want tariffs on Chinese imports indefinitely and a permanent decoupling between the U.S. and Chinese economies. Moderates such as National Economic Council Director Larry Kudlow and Treasury Secretary Steven Mnuchin want to wind down the trade war and get back to normal. Trump himself is a hard-liner who’s in a weak negotiating position and can’t get everything he wants because it would hurt the U.S. economy too much, if he did.

Markets are still optimistic about some kind of de-escalation, because … Trump said so? Stocks have drifted up to new record highs lately, in part because of happy feelings on trade. But it’s worth pointing out that there have now been 13 negotiating rounds between U.S. and Chinese diplomats, and several claims of a breakthrough by Trump. The only thing that has come of it all has been escalating U.S. tariffs matched by intensified retaliation by China.

Deutsche Bank chief economist Torsten Slok lists the trade war as the top threat to the economy, while pointing out that it has depressed not just manufacturing activity in the United States, but also service sector growth, business spending and CEO confidence.

Trump’s China tariffs are now costing the U.S. economy about $75 billion on an annualized basis, according to the American Action Forum. Tariffs due to hit a new class of Chinese imports Dec. 15 would raise the annual cost to around $100 billion. Retaliatory measures by China cost the U.S. economy at least $87 billion more. Farmers and factory workers are bearing the worst of it.

Timing a deal around impeachment

There’s been one small breakthrough. Trump called off a tariff hike that was supposed to go into effect Oct. 15, as a contribution to the “phase one” agreement. He had already raised tariffs by 25% on $250 billion worth of Chinese imports, and threatened to raise it to 30% on Oct. 15. He didn’t. But the 25% tariff is still there.

In this photo taken Wednesday, Nov. 6, 2019, visitors chat near American and Chinese flags displayed at a booth for an American company promoting environmental sensors during the China International Import Expo in Shanghai. Washington and Beijing have agreed to cancel tariff hikes as their trade negotiations progress, a Chinese Commerce Ministry spokesman said Thursday, Nov. 7, 2019. (AP Photo/Ng Han Guan) Nov. 6, 2019, visitors chat near American and Chinese flags displayed at a booth for an American company promoting environmental sensors during the China International Import Expo in Shanghai. (AP Photo/Ng Han Guan)

A Chinese trade spokesman recently said the two sides had agreed to roll back tariffs, if a bunch of things fell into place. The U.S. side gave conflicting reactions to that statement, with Trump himself finally saying there’s been no deal to scrap tariffs. There is a deal. There isn’t a deal. There is a deal. There isn’t a deal. The only constant in the whole trade debacle is American shamology.

The thinking inside the Beltway now is that Trump may want to ink a starter deal with China around the time Congressional impeachment hearings are likely to culminate, to distract from that lousy news. "We think that impeachment politics will drive President Trump to reach a trade deal with China to give voters something tangible to coalesce around,” consulting firm Sandhill Strategy told clients recently. “A late 2019 deal would likely time well to correspond directly with timing of a House impeachment vote. The president could juxtapose a deal with China as a policy accomplishment against Democrats’ political ‘witch hunt’ against him.”

That would only work, however, if Chinese President Xi Jinping agrees to go along with Trump’s timeline. And as impeachment intensifies, Xi may feel emboldened to demand more from his embattled American counterpart. “Phase one” could be a long time coming.

https://www.yahoo.com/finance/news/trumps-phase-one-trade-deal-with-china-is-a-phantom-144712522.html

 

B/A

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1 minute ago, Shabibilicious said:

Remember how Trump said "trade wars are easy to win"?....Think about that for a moment, then remember this particular thread was started in January.  :blink:

 

GO RV, then BV 


Yeah Trump says a lot of things. Obviously people are beginning to understand you can't believe anything he says.

 

B/A

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Just now, bostonangler said:


Yeah Trump says a lot of things. Obviously people are beginning to understand you can't believe anything he says.

 

B/A

 

Maybe if these evil Demonrats would stop harassing Trump he would put down the remote and focus on actual problems that affect Americans.....Hahahaha, just kidding....Donald loves his remote.  :D

 

GO RV, then BV

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1 minute ago, coorslite21 said:

Think about this.......Congress has only been focused on getting rid of Trump.....Myopic....

 

At least Trump is still moving ahead with all the projects he promised he would work on.....between the two....he is the only one working for the people......

Please tell me how I am wrong.....

CL

 

Healthcare, infrastructure, national debt, social injustice and division.....one man's minor issue may be another man's mission.  As always, just my opinion.

 

GO RV, then BV

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1 minute ago, Shabibilicious said:

 

Healthcare, infrastructure, national debt, social injustice and division.....one man's minor issue may be another man's mission.  As always, just my opinion.

 

GO RV, then BV

 

This is what Pelosi and Schiff and company have been working on?.....show me some results on any of your above named projects.....where's the beef?

CL

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18 minutes ago, Shabibilicious said:

Remember how Trump said "trade wars are easy to win"?....Think about that for a moment, then remember this particular thread was started in January.  :blink:

 

GO RV, then BV 

7 billion dollars just in the last quarter alone from China tariffs

That sure isn't loosing. 

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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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