Skip to comments.US asks China to slash trade surplus by $200 billion
Posted on 05/07/2018 2:44:53 PM PDT by cba123
The US has demanded that China cut its US trade surplus by $200 billion, end subsidies for advanced technology industries and sharply cut import tariffs to US levels, two people familiar with US-China trade talks said Friday.
The lengthy list of demands was presented to Beijing prior to the start of talks on Thursday and Friday between top-level Trump administration officials and their Chinese counterparts to try to sort out disputes that have threatened a damaging trade war between the worlds two largest economies.
The talks ended with Chinas Xinhua news agency describing them as constructive, candid and efficient but with disagreements that remain relatively big. The US side has yet to give its account of the talks, and there was no sign that President Donald Trump would back off on his threat to impose tariffs on up to $150 billion in Chinese goods over allegations of intellectual property theft. Speaking with reporters in Washington on Friday, Trump said he was determined to bring fairness to the US-China trading relationship.
(please follow the link, for the full story)
Trump is emphasising the relationship with Xi.
Don't put too much on that personal relationship, President Trump.
You are fighting for America.
Don't back down now.
(continuing with additional text from the article)
I think the US is asking for the impossible. Reducing the deficit by $200 billion by 2020 is quite an unrealistic demand, but it may also be a negotiation tactic to start high first, said Tommy Xie, economist at OCBC Bank in Singapore. In a proposal submitted by the Chinese side, Beijing offered to increase US imports and lower tariffs on some goods, including cars, according to the sources. But China requested that the US treat Chinese investment equally under national security reviews, stop issuing any new restrictions on investments, and halt a proposal to implement 25 per cent tariffs under its Section 301 probe. China also offered to reconsider anti-dumping duties on US sorghum, according to the proposal.
It’s a start
The next proposal should be $300 billion to send a message.
Trump is not bluffing, but he will only be in office until January 2025. Chinese leadership will be there long after and are prepared to out wait the US.
“US has demanded...”
okay, which is it?
What are the Chinese excuses for keeping such a one-sided trade relationship?
What? That will cut Walmart sales by 75%!
I remember back in the 70s and maybe 80s, the Japanese were producing everything and buying up our assets. Granted, it may cause a war but I think the Big Invisible boys will do it again, where they draw in all that export money, collapse the economy and recover them cheaply. The Japanese stagnated for decades afterwards.
Were you in that private meeting where Kerry was telling the Iranians to “just wait Trump out.”
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