Trade talks between U.S. and China aim to 'level playing field'

Trump Trade War- US likely to extend steel and aluminum tariff exemptions- Report

A breakthrough deal to fundamentally change China's economic policies is viewed as highly unlikely during the two days of talks, though a package of short-term Chinese measures could delay Washington's decision to impose tariffs on about $50 billion worth of Chinese exports.

The official China Daily newspaper said in a Wednesday editorial that the talks need some give-and-take.

But after the first day of talks, it's so far, so good.

Treasury Secretary Steven Mnuchin is leading the group, which includes Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer.

China raised with a visiting USA trade delegation the issue of a ban by the United States on its companies selling components and software to ZTE Corp for seven years, the Ministry of Commerce said on Friday.

There are a number of reasons for tamped-down expectations from the talks.

China says it made progress in trade talks with the United States but acknowledged that the two sides remain far apart on some issues.

USA imposes safeguard tariffs on washing machine and solar cell imports.

China, which denies it coerces technology transfers, has threatened retaliation in equal measure, including tariffs on US soybeans and aircraft.

The US Bureau of Economic Analysis (BEA) reports that the US trade deficit narrowed to US$49 billion in March from US$57.7 billion in the previous month.

Meanwhile in northeast China, local governments have directed farmers to expand their soybean plantations, labelling it as "a top political task for current agricultural production". For the US, the chief issue is the direction of Chinese industrial policy.

Trump is seeking to cut the American trade deficit with China - totaling $375 billion (€313 billion) past year - by $100 billion and gain concessions over policies that force foreign companies to share technology with Chinese partners.

Numerous negotiators representing the United States are more comfortable than their Chinese counterparts with the fine points of trade policy.

At the forum, Mr. Ning and others defended the government's support for companies to upgrade and move into higher-level manufacturing and industries of the future.

1 person injured, suspect in custody after Nashville mall shooting, police say
Churchwell was struck in the neck, and later died form his injuries shortly after arriving at Skyline Medical Center. According to Metro Nashville police public information officer Don Aaron, a dispute led to shooting .

US President Donald Trump on Thursday praised his relationship with Chinese President Xi Jinping as the high-powered US delegation began their talks, which are taking place at a state guest house in the western part of the Chinese capital. The president said he has a great relationship with President Xi Jinping.

A USA trade delegation arrived in China on Thursday for talks on tariffs, with state media saying China will stand up to US bullying if need be, but it was better to work things out at the negotiating table.

His administration has threatened to impose new tariffs on roughly $150 billion in Chinese goods.

In early April, China announced tariffs on more than 100 USA goods, including vehicles, plastic goods and agricultural products.

"Even before the recent steel tariffs were imposed by the US, the cumulative effect of the 144 American actions to limit steel imports still in effect today covered 96.8 percent of USA steel imports", the report said.

China says it will start levying tariffs on $3 billion of USA imports including fresh fruits, nuts, wine and pork.

U.S. President Donald Trump has used China's mammoth steel and aluminium sectors as justification for imposing tariffs on global supplies, causing an outcry from many countries.

Messrs. Lighthizer and Navarro favor a tough, broad-based approach to China and the use of tariffs as leverage, while Messrs. Majority insisted on anonymity for reasons of diplomatic sensitivity.

One face outwardly offers soaring and seductive promises of an emerging global economic order that will become more open and equitable as nations increase trade and commerce with China.

Chinese officials have promised to reduce a 25 percent tariff on imported foreign cars by 2022.

Timeline of the dispute from the Peterson Institute for International Economics.

U.S. moves against Chinese smartphone makers Huawei and ZTE, and Beijing's decision to tax American sorghum have ratcheted up the tensions.

It isn't clear whether the administration will adopt these ideas in whole, but they are the kinds of fundamental changes the U.S.is seeking.

Related News:

  • Jazz ready to upset Rockets in NBA: Ingles

    Jazz ready to upset Rockets in NBA: Ingles

    Joe Ingles led the way in scoring for the Jazz with 27 points, knocking down seven threes in nine attempts. He then added four more assists in the fourth quarter to finish with 11 for the game, a new career-high.
    Pittsburgh Penguins vs. Washington Capitals Matchup Preview 4/29/18

    Pittsburgh Penguins vs. Washington Capitals Matchup Preview 4/29/18

    Defensively, the Washington Capitals are allowing 2.9 goals per game and are killing 80.3 percent of their opponents power plays. Washington again got the strong start it wanted; the team has scored first in all but one of its eight playoff games.
    5 talking points from Manchester United vs Arsenal

    5 talking points from Manchester United vs Arsenal

    United open the scoring in the first half as Paul Pogba finished after Alexis Sanchez's header hit the post. It's been a good season for me, I just want to keep working hard and I'm looking forward to next season".
  • HSBC shares fall despite $2bn share buyback

    HSBC shares fall despite $2bn share buyback

    This continues the plan launched by his previous CEO Stuart Gulliver to "pivot" to Asia, and China in particular. The bank's profit shrank mainly as a almost 13% rise in operating expenses outpaced revenue growth of 5.5%.
    May set to avoid London wipeout in local elections

    May set to avoid London wipeout in local elections

    May is also negotiating an exit from the European Union that 60 percent of the capital rejected at the 2016 Brexit referendum. They do not affect seats in parliament, where May has only a slim working majority thanks to a deal with a smaller party.
    Kate Middleton and Prince William announce name of their newborn son

    Kate Middleton and Prince William announce name of their newborn son

    But the Daily Mail tabloid pointed out it was also a favourite for French kings and had "a distinctly Gallic royal flavour". It's thought by some that Charles and Camilla may be waiting to meet the new Prince with his mother, Queen Elizabeth II .
  • Drake jokes about Kendrick Perkins beef on Instagram

    Drake jokes about Kendrick Perkins beef on Instagram

    The two started exchanging words at halftime. with things getting so heated one of the Cavs players was holding Drake back. Sidenote: I'm fully expecting Drake to drop a weak diss track on Perk within the week.
    Fortnite Season 4 Blows Up The Battle Royale World

    Fortnite Season 4 Blows Up The Battle Royale World

    With Season 4 underway for Fortnite: Battle Royale players have begun chasing down new challenges to complete their Battle Pass. Dust Depot used to have three large warehouses sitting side by side. "Ray has gone missing and no one knows where she is".
    Samsung Galaxy S7, Galaxy S7 Edge Oreo Updates Officially Confirmed, Coming Soon

    Samsung Galaxy S7, Galaxy S7 Edge Oreo Updates Officially Confirmed, Coming Soon

    There's finally good news for Galaxy S7 and Galaxy S7 edge owners who have been waiting for a taste of Oreo for a very long time. Samsung's software update game was quite decent this year, and now the company is looking to one-up that reputation.
  • DeGrom leaves game with hyperextended right elbow

    DeGrom leaves game with hyperextended right elbow

    Soroka, who was recalled from Triple-A Gwinnett earlier Tuesday, allowed one run on six hits and no walks while striking out five. Losing him for any period of time would be a serious blow to the Mets' rotation, with the team now riding high in the NL East.
    Kim Kardashian Finally Speaks Out On Tristan Thompson Cheating On Khloe

    Kim Kardashian Finally Speaks Out On Tristan Thompson Cheating On Khloe

    We hope KoKo is OK - but she's got a pretty wonderful support system in the form of her sisters to lean on in this tough time. Kim talks about how Khloe prefers to deal with hardships on her own. "All we can do is be there for her and the baby".
    Putin, Macron Back Preservation of Iran Nuclear Deal

    Putin, Macron Back Preservation of Iran Nuclear Deal

    News photos from Saturday (April 28) show a patch of discolored grass where the tree stood only a few days earlier. It was feared parasites from the tree could spread to others on White House property.


Most liked

Prince Louis' Birth Certificate Shows William And Kate's Surprisingly Obvious Job Titles
To celebrate the fourth in line to the throne's birthday, Kensington Palace shared a photo of Princess Charlotte of Cambridge taken by Kate Middleton online.

Apple's $100 billion stock buyback overshadows iPhone
The firm now has more flexibility to spend its cash without risking high tax payments, after recent changes tot he tax law. The company also committed to announced it would use an extra $100 billion on share buyout program.

'Free press makes for a stronger democracy'
In his message he said "A free press is essential for peace, justice and human rights for all". The World Press Freedom Day is being marked across the globe today.

Trump hires Bill Clinton impeachment lawyer
McGahn had disagreements with Ty Cobb , a departing lawyer on Trump's legal team, about how to manage legal concerns. The president's legal team knows that would extend the investigation for months and make the president look afraid.

Neighbor sought in murder of young Bucks County couple
Clark told reporters that the victims were in their late 20s to early 30s, and that police had had no previous contact with them. Tuesday when a house painter who was working on the outside of the home found one of the bodies when he came inside.

Amazon Vows To Create 3000 High-Tech Jobs In Vancouver
Another major Canadian city, Toronto, is still in the running for Amazon's official second North American headquarters. QuadReal said construction of the entire project will begin in January , 2019, and be completed in mid-2023.

Shearer urges Liverpool coach Gerrard to take Rangers job
Assistant coaches Jimmy Nicholl and Jonatan Johansson have been put in temporary charge for Saturday's home game with Kilmarnock. He will take some time to consider his options, which include returning to his role at the Rangers Academy.

NSYNC Reunites on the Hollywood Walk of Fame
HOLLYWOOD, CA - APRIL 30: NSYNC is honored with a star on the Hollywood Walk of Fame on April 30, 2018 in Hollywood, California. They also touched on the monumental unveiling of their star on the Hollywood Walk of Fame just a few days before.

What Minister Simon Harris was told ahead of Vicky Phelan case
Last week, Ms Phelan settled her High Court action against a U.S. laboratory for €2.5m. "I don't believe that", she said. The next step will be to publish its Terms of Reference, which will be in about a fortnight's time.

Labour Day 2018: Google celebrates May Day, here's how it all began
The origins of Labour Day date back to the late 19th century, when the trade union and labour movements were growing in the US. This despite the fact that the holiday began in the 1880s in the United States, with the fight for an eight hour work day.

Thousands rally as Armenia protest leader warns of 'political tsunami'
On Monday, thousands of Armenians marched through the capital, demanding that Mr Pashinyan be appointed prime minister. The Armenian constitution dictates that parliament must reconvene next week for another vote.

Oculus Go Standalone VR Headset on Sale Now
According to leaks ahead of the announcement, it was clear that something big was going to happen at Facebook's F8 keynote speech. In essence, the Go is as hassle-free as VR headsets get and that ethos is even reflected in the buttons and ports it offers.

Netanyahu Updated World Leaders on Secret Iranian Nuclear Program Files
He noted that Trump was weighing whether to pull the USA out of the nuclear deal, saying "I am sure he will do the right thing". The U.S. has reportedly verified its authenticity.

Bill Cosby's talk of quaaludes led to conviction, says juror
O'Neill, who presided over both the first trial and the retrial, ruled against the defense on this issue both times. Meanwhile, the jury forewoman released a statement to say that the verdict was based exclusively on the evidence.

New Red Dead Redemption II Trailer Releases This Wednesday
Rockstar Games has been keeping its cards very close to its chest regarding the upcoming epic Red Dead Redemption 2. Much of what we want to see stems from specific narrative details we'd love to hear more about.