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Home / Business / Trump reportedly made concessions to China News before trade talks

Trump reportedly made concessions to China News before trade talks



With trade talks between the United States and China, which were resumed this week, the US appears to have made some concessions that could help ease tensions between the two to reduce the largest economies in the world. [19659002] The New York Times newspaper reported that the US is considering granting licenses to American companies that allow them to deliver non-sensitive components to Chinese telecommunications giant Huawei. In May, US President Donald Trump, citing unknown sources, suggested banning Huawei from buying parts and technology from US suppliers.

However, Trump gave the green light for licensing in early October. US companies should supply Huawei with some equipment.

Leading negotiators on both sides will meet on Thursday for the first time since the end of July to find a way out of a 1

5-month trade war that forced them to change their supply chains and impact the global economy.

China calls on the US to end allegedly undue pressure on Chinese companies, including Huawei, said Foreign Ministry spokesman Geng Shuang at a press conference in Beijing.

Regardless, the US is also considering a currency pact with China as part of a trade agreement, the Bloomberg news agency reported, citing unknown sources as well.

This agreement could also suspend next week.

The monetary agreement was agreed by the United States in the year before the demolition of trade talks. Further negotiations on core issues such as intellectual property and forced technology transfers will follow, Bloomberg reported.

Chinese Deputy Prime Minister Liu Er is to lead the Chinese delegation in trade talks with US Trade Representative Robert Lighthizer and the Treasury Secretary Steven Mnuchin on Thursday and Friday in Washington, DC.

However, just a few hours earlier, the upcoming talks were reportedly cut by one day as subordinate discussions failed to reach agreement on key issues, unnamed sources told the South China Morning Post (SCMP).

A stumbling block, according to SCMP, was the question of forced technology transfer, which the Chinese delegation did not want to address.

Discussions on an Interim Agreement Come after the Trump Administration A week later, pressure intensified on Beijing when Chinese technology companies were blacklisted for their alleged role in repression in the far west of Xinjiang. The US has also imposed visa bans on officials linked to the mass detention of local Muslims.

At the same time, there was a dispute over freedom of expression between China and the US National Basketball Association (NBA), triggered by a tweet The director-general of Houston Rockets, who supports Hong Kong's demonstrators, has underlined the tensions.

Tariffs Work: US

Meanwhile, US Secretary of Commerce Wilbur Ross said on Thursday that tariffs on Chinese goods and services work as they force China to pay attention to US concerns.

Ross said the US would have preferred not to impose tariffs on Chinese goods more than a year ago, triggering a trade war that slowed global trade and threatened decades-old systems, but this has forced Beijing to act.

"We do not like tariffs, in fact we would prefer not to use them, but after years of discussion and action, the tariffs are finally forcing China to compromise our interests," Ross said in a speech during an official visit in Australia.

Without a major breakthrough, Trump will increase the USD 250 billion Chinese tariff on Tuesday by another five to 30 percent.

Further duties are due to enter into force on 15 December.

On Wednesday, a Chinese official said the country was still open for a part-trade deal with the US, which may include l arge purchases from US commodities, but added that success depends on that Trump will stop further duties.

Ross added that the US is "not against" trade with China, but that China's trade practices have "arrived worse" and that the country has had to comply with global trade regulations.


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