US Trade Representative Robert Lighthizer (left) and Treasury Secretary Steven Mnuchin wait to greet Chinese Vice Premier Liu He for trade talks. — AFP Photo WASHINGTON — Critical US-China trade negotiations were heading into a second day on Friday, under the shadow of steep new tariffs on Chinese goods that took effect just after midnight. President Donald Trump got a briefing from his trade negotiators, but made no move to hold off on the tariffs -- dashing hopes there might be a last minute reprieve as the negotiations continued. The punitive duties on US$200 billion in imports from China now will more than double to 25 per cent -- a move Beijing has vowed to retaliate against. Locked in a trade dispute for more than a year, officials from the world's two biggest economies returned to the bargaining table late on Thursday, led by Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin. Since last … [Read more...] about US-China trade talks head into 2nd day as new tariffs hit
Us china trade deficit
The latest round of bilateral trade negotiations between China and the US, which just wrapped up in Beijing, is the second round of high-level talks in 2019. This shows that the world’s two leading economies wish and endeavor to accelerate negotiations before the deadline of the 90-day “trade war suspension” on March 1. After this time, if the two sides still cannot reach an agreement, the US will increase tariffs from 10% to 25% on US$200 billion worth of Chinese goods. However, like the January negotiation in Washington DC, the negotiation round in Beijing on February 14-15 continued to see no breakthrough, as the two sides failed to finalise a deal or issue specific statements. Although both agreed to “have had useful talks”, it can be seen that the only positive result was their consensus on the immediate resumption of negotiations this week in Washington. According to a statement from the White House, the US focused discussions in Beijing on the … [Read more...] about US-China trade talks: Expectations put on the sprint stage
After the US-China trade war broke out in mid-2018, the leaders of the two countries agreed on a 90-day “truce” from December 1, 2018, in order to negotiate a deal seeking to terminate the escalation of trade tensions. If a solution to the aforementioned trade battle fails to be worked out, the US will raise tariffs from 10% at present to 25% on US$200 billion worth of Chinese goods from March 2. In the context of the suspension deadline approaching, US Treasury Secretary Steven Terner Mnuchin said that the two sides are making great efforts to reach a trade agreement before the March 1 deadline. Telling US television channel CNBC, Mnuchin revealed that the US and China have made progress in trade enforcement issues, but added that the two sides still have a lot to do. Previously, trade officials from the two countries had talks in Washington to discuss the direction of cooperation aiming to resolve trade disputes between the two sides. Negotiators touched on the thorniest … [Read more...] about US-China trade war: A common voice risks missing ceasefire deadline
VietNamNet Bridge - Multinationals will have to think carefully about whether to relocate to Vietnam to avoid any negative impact from the US-China trade war, experts say. Multinationals will have to think carefully about whether to relocate to Vietnam International and Vietnamese experts have predicted that there will be a wave of ‘US-China trade war refugees’ coming to Vietnam. As the US has imposed higher taxes, Chinese goods have become less competitive in price in the US market. In such a context, manufacturers can continue making products in Vietnam for export to the US without having to bear high tax rates. Vietnamese experts think that foreign investors will flock to Vietnam in the context of the trade war but wonder if Vietnam is capable of absorbing the huge investment capital flow in the time to come. Nguoi Lao Dong newspaper quoted Takahisa Onose from the Japanese Entrepreneurs Association in HCM City as saying that most Japanese enterprises … [Read more...] about Will foreign investors relocate to Vietnam during the US-China trade war?
Viet Nam News HCM CITY — Authorities should closely monitor the import and export of goods for origin to prevent customs declaration fraud, a seminar heard in HCM City on Friday. With the US-China trade war escalating, Chinese firms could ship their unfinished products to Việt Nam and then export them to the US through a Việt Nam-based firm as an intermediary to avoid tariffs, Ngô Võ Minh Hưng, business director of VIFON, warned. This would affect Việt Nam, as evidenced by the case of steel originating in China but exported from Việt Nam, he said. The US Department of Commerce had decided to slap tariffs on steel produced in Việt Nam using Chinese-origin materials, he said. With the trade war causing difficulties for Chinese firms in exporting to the US, they would increase exports to other countries, including Việt Nam, putting big pressure on local producers, he said. He called on related agencies to better monitor … [Read more...] about Better control of imports-exports needed to shelter VN from US-China trade war: seminar