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

2018-05-17 3 Dailymotion

美中 2차협상, 對美 '무역흑자 감축'에 초점<br /><br /> Trade officials of Washington and Beijing met once again.<br />A more amicable atmosphere was set for their latest sit-down in the U.S. capital, mainly by President Trump's decision on Chinese telecom firms.<br />Choi Si-young provides a closer look into round 2 of their trade talks. <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 /><br /> "We hope to not see the escalation of U.S.-China trade tensions. Of course, we have made preparations for all outcomes."<br /><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 /><br /> "We hope that the relevant departments of the U.S. side will take realistic actions quickly to resolve the (ZTE) case in a just and fair manner."<br /><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 />

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