Surprise Me!

U.S. seeks to cut trade deficit with China in trade talks

2018-05-17 10 Dailymotion

After somewhat disappointing first round of trade talks in Beijing, the United States and China resumed their second round of meetings in Washington D.C.<br />Amid a more amicable atmosphere, ushered in by President Trump's decision to allow Chinese telecom firms to trade in the U.S., could there be a more positive outcome to the trade talks this time around?<br />Choi Si-young has the details. <br /> The focus of the talks was on narrowing the trade deficit. <br />The U.S. delegation led by Treasury Secretary Steven Mnuchin, Secretary of Commerce Wilbur Ross and Trade Representative Robert Lighthizer sat down with its Chinese counterparts led by vice-premier Liu He to try and settle trade disputes.<br />At the meeting, the US demanded China reduce its trade surplus by 200 billion U.S. dollars by 2020.<br />The U.S. also requested the Chinese government to discontinue support for "China Manufacturing 2025," China's blueprint for upgrading its manufacturing sector.<br /> China seemed receptive to the U.S. demands.<br />The Chinese government is considering removing punitive tariffs on imported U.S. agriculture items.<br />It is also reviewing whether to ease non-tariff barriers like import quotas, government subsidies or customs delays.<br />Such moves come in response to President Trump's surprising decision to lift the ban on Chinese telecommunications firms doing business in the United States.<br /> Adding to the positive outlook on the negotiations is the reduced role of hawkish White House trade adviser and harsh China critic Peter Navarro.<br />He is participating in the discussions at the negotiating table but is not officially on the U.S. representative list.<br />He was on the official delegation at the first round of trade talks in Beijing.<br /> With China displaying a more agreeable posture and fewer hardliners in the US delegation, experts are predicting a more positive result from these trade negotiations than from the previous round in Beijing.<br />Choi Si-young, Arirang News. <br />

Buy Now on CodeCanyon