WASHINGTON (Reuters) – The United States of america, and is China’s top trade negotiators were set to meet on Thursday for the first time since the end of July and trying to find a way out of a 15-month trade war if new irritants between the world’s two largest economies and threatened the hope of progress.
FILE PHOTO: US Trade Representative Robert Lighthizer, gestures in the direction of the Minister of finance, Steven Mnuchin, as he talks with a Chinese Vice-Minister Liu He, before they pose for a family photo at the Xijiao Conference Center, Shanghai, China, on July 31, 2019. Ng Han Guan/Pool via REUTERS/File Photo
The Chinese Vice-Minister Liu He, U.S. Trade Representative Robert Lighthizer, and the Minister of finance, Steven Mnuchin and will strive to keep the small differences may be enough to avoid a planned Aug. 15 the rate will increase to $250 billion of Chinese goods.
However, the atmosphere surrounding the talks was soured by the U.s. Commerce Department ‘ s decision on Monday to blacklist the 28th, Chinese public security agencies, the technology and the control of the companies, citing violations of the rights of the Muslim minority in china’s Xinjiang province. A day later, the U.s. State Department imposed visa restrictions on Chinese government officials in connection with the Xinjiang problem.
If the negotiations break down, through Dec. 15, almost all of the Chinese import goods into the United States of america — for more than $500 million may be subject to punitive fees in the event of a dispute broke out when the U.S. President and Donald Trump’s time in office.
The Minister of trade, Wilbur Ross, said in Sydney on Thursday, that the costs were to work out, which to Beijing to pay close attention to the US concerns about the business practices.
“We don’t like the rates, or, in fact, we would prefer not to have to use it, but after several years of discussion and not action, as prices are finally forcing China to pay close attention to our concerns,” Ross said in remarks prepared for delivery on the first official visit to Australia.
Even though some of the reports in the media suggested the two sides consider it a “mid-term” deal, which would postpone a scheduled further in U.S. tariffs in exchange for additional purchases of American farm products, He has on several occasions rejected this idea, insisting that he wants to be a “big deal” with Beijing, it addresses the core of the intellectual property rights related issues.
Speaking to reporters in Washington on Wednesday, He said: “If we are to be able to make a deal, we’re going to make a deal, there’s a good chance.”
“In my opinion, China wants to make it a lot more than I do,” He added.
The two sides have been at loggerheads over the U.S. demand that China improve the protection of U.s. intellectual property rights, the end to cyber theft and forced technology transfers to Chinese companies, competition, industrial subsidies, and the increase of U.S. companies that have access to the largely closed Chinese market.
However, the Chinese government surprised and angered by the AMERICAN “black list” of Chinese companies, including video-surveillance-gear maker, Hikvision, (002415.SERIES), including the suspension of U.S. visas for some of the Chinese officials told Reuters that Beijing had reduced expectations for a significant progress of the talks.
“I’ve never seen that China has to respond with concessions to a person to throw down the gauntlet in this fashion,” said Scott Kennedy, a China trade expert at the Center for Strategic and International Studies in Washington. “It suggests to me that the US has found that progress was impossible, everyone is just going through the motions.”
- Factbox: Almost all of the goods that are traded between the US and China are the rates as of 15 December
Other hot spots that have popped up in the last couple of days, China’s high-speed action to cut business ties with the National Basketball Association’s team of the official’s tweet, in support of Hong Kong pro-democracy protesters.
However, in a possible easing of tensions, The New York Times reported that of the Trumpet, the administration will soon issue licenses to allow some AMERICAN companies to sell non-sensitive goods to China’s top telecom equipment maker, Huawei Technologies.
The report cited unnamed people familiar with the matter. A Commerce Department spokesman said the agency has not given a direction. Huawei in May, will be at the same trade time influence of Hikvision, as the United States of america, said the company is able to spy on customers, a claim that Huawei denies.
Reporting by David Lawder; Editing by Simon Cameron-Moore