Reuters: U.S. says March 1 'hard deadline' for trade deal with China
WASHINGTON (Reuters) - U.S.-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, U.S. Trade Representative Robert Lighthizer said on Sunday, clarifying there is a “hard deadline” after a week of seeming confusion among President Donald Trump and his advisers.
Global markets are jittery about a collision between the world’s two largest economic powers over China’s huge trade surplus with the United States and U.S. claims that China is stealing intellectual property and technology.
“As far as I am concerned it is a hard deadline. When I talk to the president of the United States he is not talking about going beyond March,” Lighthizer said on the CBS show “Face the Nation,” referring to President Donald Trump’s recent decision to delay new tariffs while talks proceed.
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Update #1: March 1 a "hard deadline" for reaching trade deal with China, Lighthizer says (CBS)
Update #2: US trade rep: 90 days is a 'hard deadline' for trade deal with China (The Hill)
WNU Editor: There is some common ground, but both sides are still far apart .... Forget Trump-Xi trade war ‘truce’, the US-China rivalry is just getting started (Cary Huang, SCMP). As to how both sides are approaching these talks. In Cary Huang's post the Chinese presented to the Americans 142 items, and classified them as either “agreeable for mutual concession”, “negotiable” or “unacceptable”. On the U.S. side, the specifics are basic .... no intellectual property theft, buy more American products, and do not restrict U.S. access into the Chinese market.
2 comments:
That's just impossible to have a common ground. The main problem is "intellectual property" and China cannot give up on that. That said we are going to a "iron curtain of economy" which is very close to the iron curtain we had with USSR. We know the end.
Jac... no one knows the end in this. Currently, as China is making so many mistakes (it's nightmarish Citizen surveillance and punishment system, the militarization of the South China sea and with it the cause of hostility towards China by almost all its neighbours, etc.), and as Trump is in power - and he really knows what he is doing with regards to China, and how to power play them, I would agree: It looks great for the US. But, if he gets impeached, or looses the next election, and you get another weak president. Then all bets are off. The US was really, truly being taken advantage off for a long time. Trump's stance on China could be the signature accomplishment - or failure - of his presidency. I certainly salute him for trying. I hope more people will get behind him and realize the importance of his actions that go beyond sleazy talk (which I would just ignore, as long as he gets the big items done. I prefer a DOer over a talker/nice polished politician)
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