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Chinese officials generally view the U.S. actions as a broad effort to thwart China’s inevitable rise to a dominant position in the global economy. They deny that China requires or coerces technology transfers, saying that any such actions are commercial transactions between American and Chinese firms. At the same time, China is looking to make a deal with Trump to ease U.S. tariffs on Chinese goods and to directly reduce the trade imbalance between the world’s two largest economies through increased purchases of U.S. goods, including soybeans and energy. Beijing has also taken some steps to open up to more imports, including lowering tariffs on imported cars and allowing foreign companies in some sectors to own a majority of their operations in China.
U.S, President Donald Trump has imposed punitive tariffs on $250 billion worth of imported goods from China so far — a 25 percent duty on $50 billion worth of machinery, semiconductors and other technology-related products, and 10 percent tariffs on a broader, $200 billion range of goods that includes many chemicals, building materials, furniture and some consumer electronics, Thus far, Trump has spared many consumer goods including cell phones, computers, clothing and footwear from tariffs, But if no deal is reached by March 2, Trump has threatened to impose new tariffs on about $267 billion worth of goods, effectively gold wedding cufflinks the remainder of imports from China..
Yes. China has imposed tariffs of 25 percent on $50 billion worth of U.S. goods, including soybeans, beef, pork, seafood, whiskey, ethanol and motor vehicles. Beijing also has imposed tariffs of 5 to 10 percent on another $60 billion worth of U.S. goods, including liquefied natural gas, chemicals, frozen vegetables and food ingredients. So far, Beijing has spared imports of U.S. commercial aircraft largely made by Boeing Co. Since Trump and Chinese President Xi Jinping agreed in December to pursue the current round of talks, China has also suspended tariffs on U.S. made autos and has resumed some purchases of U.S. soybeans.
The United States rebuffed some initial offers by China in the spring of 2018 to increase purchases of U.S, goods, opting instead to proceed with tariffs, In Buenos Aires in December, presidents Trump and Xi agreed to negotiate over structural issues, including “forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture,” the White House said in a gold wedding cufflinks statement, But there was little progress on these issues at a round of talks among mid-level officials in Beijing earlier in January, Instead, Chinese officials offered to substantially increase purchases of U.S, products in an effort to eliminate the U.S, trade deficit with China over a period of years..
WILL U.S. OFFICIALS ACCEPT A DEAL BASED MAINLY ON PURCHASES?. Trump has been optimistic about a deal, saying a weakening Chinese economy gives Beijing incentive to negotiate. But the president’s advisers say that he will not soften his demands that China make structural reforms on IP and related issues. Some Trump administration officials, including Wilbur Ross, have tried to temper expectations for this week’s meetings, saying that the two countries “are miles and miles” from resolving their trade differences. A key U.S. demand is creating a mechanism for regular reviews of China’s progress on following through on any reform pledges that it makes, a plan that would maintain a perpetual threat of U.S. tariffs.
The two sides could report some progress toward a deal though another stalemate on core structural issues would be viewed as a negative sign for a deal by March, and investors would brace for higher tariffs, But trade negotiations often go down to the wire, so a final outcome is not likely before the end of February, and any agreement will need the approval of Trump and Xi, If enough progress is made, the two sides also could decide to extend the deadline and keep negotiating, as often happened during talks gold wedding cufflinks last year to replace the North American Free Trade Agreement..
BEIJING (Reuters) - Earnings at China’s industrial firms shrank for a second straight month in December, putting pressure on policymakers to support industries hurt by slowing prices and weak factory activity amid a protracted U.S.-Sino trade war. The downbeat data points to more troubles ahead for the country’s vast manufacturing sector already struggling with a decline in orders, job layoffs and factory closures as China’s economic growth slows to its weakest in nearly three decades.
China’s economy expanded 6.6 percent in 2018 and growth is set to slow further this year as Beijing’s efforts to reduce debt risks depress the property market and curb credit flows to the private sector, while a crackdown on pollution dents industrial activity, Industrial profits in December fell 1.9 percent from a year earlier to 680.8 billion yuan ($100.9 billion), weighed down by weak factory-gate prices and soft demand, the National Bureau of Statistics gold wedding cufflinks (NBS) said on Monday, This is on top of a decline of 1.8 percent in November - the first contraction in profits in nearly three years..