Home Tags Posts tagged with "us and china relation"

us and china relation


The US has launched an investigation into China’s intellectual property policies.

United States Trade Representative Robert Lighthizer said his office had “determined that these critical issues merit a thorough investigation”.

The move was expected after President Donald Trump asked Bob Lighthizer to review China’s practices.

China has voiced “serious concern” over the investigation, which could result in US trade sanctions.

The annual cost to the US economy from counterfeit goods, pirated software and theft of trade secrets has been estimated at up to $600 billion.

Image source Flickr

US and China Trade Talks Fail

Donald Trump Criticizes China Following North Korea’s Test of Long-Range Missile

Kushner Companies Cancels China Business Pitch after Namedropping Allegation

On August 18, the US announced it planned to look into hacking and reports that the Chinese government is steering investment into US companies in key industries as a way to gain access to new technology.

US officials will gather comments and hold a hearing in October as part of the so-called Section 301 investigation.

Penalties might be targeted against individual companies, or more wide-ranging, which will shape China’s reaction.

On August 15, China’s commerce ministry warned: “If the US side takes actions that impair the mutual trade relations, disregarding the facts and disrespecting multilateral trade rules, China will not sit idle.”

Salvează

The US and China have failed to agree on trade after contentious talks in Washington.

The two sides did not issue a joint statement or action plan after the meeting and canceled scheduled press conferences.

The US was critical of China’s trade surplus and demanded “more fair” trade arrangements.

Separately, President Donald Trump indicated that tariffs on Chinese steel were still a possibility.

In his opening remarks to the annual US-China Comprehensive Economic Dialogue, Commerce Secretary Wilbur Ross criticized China’s $347 billion trade surplus with the US, saying it was not the product of market forces.

Donald Trump Says US Could Solve North Korea Nuclear Threat Without China’s Help

In a brief statement after the talks, Secretary Ross and Treasury Secretary Steven Mnuchin offered few details and little indication of any progress on contentious issues.

Image source Flickr

The statement said: “China acknowledged our shared objective to reduce the trade deficit which both sides will work cooperatively to achieve.”

The contentious issue of steel tariffs was expected to be a difficult topic at the talks, but the two sides did not issue any statements on this.

The US blames China’s excess capacity for a global steel glut that is hurting US producers, and has threatened to impose tariffs.

US Steel stocks were sharply higher as investors interpreted silence on the issue as an increased likelihood of US action on Chinese steel.

Donald Trump Questions Whether US Should Continue One China Policy

According to Reuters, after the market closed, President Trump told a reporter that steel tariffs “could happen”.

Experts thought it was unlikely that the talks would produce any significant agreements on the most thorny issues.

In addition to steel, the US was expected to push China on its subsidies for state-owned enterprises.

China was expected to focus on US refusals to sell Beijing advanced technology products.

It was unclear whether the talks covered US demands for China to put more pressure on North Korea over its nuclear and missile program.

President Trump has previously signaled that China might obtain improved trade terms in exchange for help on North Korea.

In May, the US and China reached a trade deal that opens the Chinese market to US credit rating agencies and credit card companies.

China also agreed to lift its ban on US beef imports and accept US shipments of liquefied natural gas.