• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • Science
  • World
  • Lifestyle
  • Tech

US and China struggle to finalise ‘phase one’ trade deal

November 14, 2019

Cenk Uygur says he won’t accept endorsements anymore after Sanders backlash

December 13, 2019

Lindsay de Feliz, Missing British Author, Found Dead and Buried in Woods Near Her Dominican Republic Home

December 13, 2019

Michael Bloomberg presidential campaign spending $4.2 million per day on ads

December 13, 2019

Why Scarlett Johansson and Emma Stone fell for the men of ‘SNL’

December 13, 2019

Can’t find a black Santa? There’s an app

December 13, 2019

How Many Piercings Does BTS’ Suga Have? The Number Has Changed Over Time

December 13, 2019

Europe threatens U.S. with carbon tariffs to combat climate change

December 13, 2019

It Was a Great Day for Trump, Except for That ‘Scam’

December 13, 2019

The 10 most-watched TV series on Netflix right now

December 13, 2019

Megan Rapinoe Endorses Elizabeth Warren In 2020 Presidential Race

December 13, 2019

For Scotland and Northern Ireland, a Weakening of Ties

December 13, 2019

Nemesis’ terrifying growl — a Resident Evil 3 teaser — now haunts the RE2 remake

December 13, 2019
DNYUZ
  • Home
  • News
    • All
    • Business
    • Crime
    • Education
    • Environment
    • Opinion
    • Politics
    • Science
    • U.S.
    • World

    Cenk Uygur says he won’t accept endorsements anymore after Sanders backlash

    Lindsay de Feliz, Missing British Author, Found Dead and Buried in Woods Near Her Dominican Republic Home

    Michael Bloomberg presidential campaign spending $4.2 million per day on ads

    Can’t find a black Santa? There’s an app

    Europe threatens U.S. with carbon tariffs to combat climate change

    It Was a Great Day for Trump, Except for That ‘Scam’

    The 10 most-watched TV series on Netflix right now

    Megan Rapinoe Endorses Elizabeth Warren In 2020 Presidential Race

    For Scotland and Northern Ireland, a Weakening of Ties

    Nemesis’ terrifying growl — a Resident Evil 3 teaser — now haunts the RE2 remake

    Trending Tags

    • Donald Trump
    • Robert Mueller
    • Joe Biden
    • William Barr
    • Elizabeth Warren
    • Bernie Sanders
    • Kamala Harris
    • Nancy Pelosi
    • Alexandria Ocasio-Cortez
  • Tech
    • All
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup

    Samsung didn’t really sell 1 million Galaxy Folds, but does it matter?

    A thief stole unencrypted hard drives filled with 29,000 Facebook employees’ information

    Report on 537 Anti-Drone Systems Shows How Wild the Market Has Become

    Apple and Spotify can now play podcasts on your Alexa-enabled devices

    The New NAFTA Is Better Than No NAFTA at All

    Fender is reinventing itself for the future of music while holding onto its past

    Regulator weighs action against Facebook over plans to integrate WhatsApp, Instagram, and Messenger

    Xbox Series X Launch: 5 Features You Need To Know

    What Boris Johnson’s victory means for Brexit

    AT&T launches consumer 5G in 10 cities, but expects only 5GE-like speeds

    Trending Tags

    • Google
    • Apple
    • Facebook
    • Twitter
    • Amazon
    • Playstation
    • Gaming
    • Samsung
  • Entertainment
    • All
    • Culture
    • Gaming
    • Movie
    • Music
    • Sports
    • Television
    • Theater

    Why Scarlett Johansson and Emma Stone fell for the men of ‘SNL’

    How Many Piercings Does BTS’ Suga Have? The Number Has Changed Over Time

    Michael Kay mourns death of uncle Danny Aiello

    Kim Kardashian’s 2019 Christmas Card Is Her Most Low-Key Yet

    These Celebrity Messages To Taylor Swift For Her 30th Birthday Are So Sweet

    Fox’s ‘Thursday Night Football’ Loses Yards In Season Finale; ABC’s ‘Great American Baking Show’ Returns Cooler

    Apple and Spotify can now play podcasts on your Alexa-enabled devices

    N.F.L. Week 15 Predictions: Our Picks Against the Spread

    The Cats in ‘Cats’ Have Changed After the Creepy Trailer Everyone Hated

    New York Yankees Pursuing Josh Hader Trade After Signing Gerrit Cole and Brett Gardner

    Trending Tags

    • Netflix
    • HBO
    • Hulu
    • Game Of Thrones
  • Lifestyle
    • All
    • Architecture
    • Arts
    • Design
    • Fashion
    • Food
    • Health
    • Photography
    • Travel

    Frail Older Patients Struggle After Even Minor Operations

    Baskin-Robbins’ December 2019 DoorDash Deal Includes Festive Flavors

    There have been at least 1,300 flu deaths in the US so far this season, CDC estimates

    McDonald’s Free Apple Pie Deal On Uber Eats Is Here For The Holidays

    For $350, You Can Now Turn Regular Water Into ‘Functional Lifestyle Water’

    Best Weight Loss Supplement That Could Trim Off Excess Weight

    10 ex-NFL players charged in health care fraud scheme

    US Christmas trees supplies tight, prices up

    What Boris Johnson’s victory means for Brexit

    Former NBA Commissioner David Stern Suffers Sudden Brain Hemorrhage

    Trending Tags

    • Mental Health
    • Beauty
No Result
View All Result
DNYUZ
No Result
View All Result
Home News

US and China struggle to finalise ‘phase one’ trade deal

November 14, 2019
in News
3 min read
250 5
495
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The US and China are struggling to complete a “phase one” deal to halt their trade war, with senior officials in Washington and Beijing still jostling over intellectual property provisions, agricultural purchases and tariff rollbacks after weeks of negotiations. 

According to people close to the talks, Trump administration officials are frustrated that China has not offered enough concessions to justify a reduction in US tariffs on Chinese goods — a longstanding demand from Beijing that has become further entrenched in recent weeks. 

One person with knowledge of the discussions said that China was “absolutely” delaying the truce with its approach, jeopardising the chances that a final agreement could be reached in the coming days, the original target set by both sides. 

“There’s a lot of jockeying going on — it’s a stand-off, in part,” said another person briefed on the talks. 

This week, US president Donald Trump warned that levies on Chinese goods would increase substantially on December 15 if the two sides failed to reach an agreement, suggesting some anxiety within the White House that the talks could fail.

Senior Trump administration officials have conceded that the date of completion might slip, but have publicly dismissed the idea that there has been any setback in the negotiations.

“Look, every day we talk to the Chinese,” Peter Navarro, the White House trade and manufacturing adviser, told Fox Business. “As the president said, we’re going to get a great deal. We’re on a glide path to a phase one agreement,” he added. 

After the US moved to impose its first tariffs on Chinese goods in March 2018, Washington and Beijing have experienced multiple cycles of escalation and de-escalation. In the first half of this year, top officials were discussing a comprehensive peace deal between the world’s two largest economies covering a wide range of sensitive areas, but those talks fell apart acrimoniously, leading to a ramp-up in tariffs over the summer.

Amid growing fears that the trade war was hurting the global economy, Washington and Beijing decided to resume talks in September, although they aimed for a much more limited agreement that would involve less painful concessions on both sides. 

Some parts of that “mini-deal” have been relatively easy to agree, according to people familiar with the talks, including Chinese commitments on currency transparency and market access for US financial services companies.

China has also been willing to ease health and safety-based barriers to agricultural trade, including the approval of new GMO seeds for import. But the biggest sticking point, according to one person briefed on the talks, is that the US is insisting that China agree to “stronger language” on intellectual property and forced technology transfer, which goes to the heart of Washington’s complaints that Beijing is unfairly gaining access to US trade secrets. 

Another irritant on the US side is that China has not agreed to set written numerical targets for a planned ramp-up in purchases of American agricultural products, according to the Wall Street Journal. Mr Trump is seeking to lock in up to $50bn in annual sales of farm goods to China in the deal, more than double the level before the trade war was launched.

Without overcoming those hurdles, the US was reluctant to remove tariffs on $112bn of Chinese goods it imposed in September, a demand that Beijing is sticking to. “The trade war was begun with adding tariffs, and should be ended by cancelling these additional tariffs. This is an important condition for both sides to reach an agreement,” Gao Feng, spokesperson for China’s Ministry of Commerce, said on Thursday, according to CNBC. 

Mr Trump had aimed to seal the agreement with Xi Jinping, China’s president, at the APEC summit this coming weekend, but the gathering of Asia-Pacific leaders in Chile was scrapped because of the civil unrest in the country, removing it as a natural deadline. “It would have forced the US and China to consolidate their positions,” one person briefed on the talks said.

The post US and China struggle to finalise ‘phase one’ trade deal appeared first on Financial Times.

Share198Tweet124Share35

Trending Posts

2020 Democrats Threaten to Boycott Debate Over Labor Dispute

December 13, 2019

Frail Older Patients Struggle After Even Minor Operations

December 13, 2019

American Samoans Should Be Granted U.S. Citizenship, Judge Rules

December 13, 2019

Bernie Sanders Retracts Endorsement of Cenk Uygur After Criticism

December 13, 2019

Justice Department Investigates Experiments on People with Disabilities

December 13, 2019

Copyright © 2019.

Site Navigation

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • News
    • Politics
    • Business
    • World
    • Science
  • Entertainment
    • Gaming
    • Music
    • Movie
    • Sports
  • Tech
    • Apps
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Food
    • Fashion
    • Health
    • Travel

Copyright © 2019.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In