Saturday, 23 March, 2019

China may have convinced the United States to ease up on ZTE sanctions

China knows what it's doing in negotiations with President Donald Trump on trade China knows what it's doing in negotiations with President Donald Trump on trade
Patty Aguilar | 25 May, 2018, 21:24

Mnuchin said that the US will hold off on the potential of $150 billion in additional USA tariffs on Chinese imports as the nations continue trade negotiations.

"Our Trade Deal with China is moving along nicely, but in the end we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion", Trump said on Twitter on Wednesday. But many US concerns about China's economic practices remain unresolved: its acquisition of American technologies; the country's plans to subsidize the growth of advanced domestic industries such as artificial intelligence and clean energy; and USA companies' access to China's markets.

After three days of talks, the Trump administration said it was holding off on imposing new tariffs on China.

China must continue to be strong & tight on the Border of North Korea until a deal is made. Trump's economic team hinted at a way forward on the company in television interviews, although the message was muddled.

It seems the Senators are going to hold Trump accountable to his and his administrations hostility towards China.

The divisions are apparent in Trump's public actions.

White House advisers have previously said the ban against ZTE was being reexamined, and the firm would still face "harsh" punishment, including enforced changes of management and at board level. Now a new American bill is being mooted to expand the powers of the Committee on Foreign Investment in the United States (CFIUS) to target Chinese tactics more effectively.

China imported 280,208 vehicles, or 10% of total imported automobiles, from the USA last year, according to China's Passenger Car Association, an industry trade body.

Senator Marco Rubio claims the Trump administration "surrendered" to China, adding that he will push Congress to block any possible deal between ZTE and the USA with "veto-proof" congressional action. He said Congress will begin working on a veto-proof legislative fix.

"I can assure you this president is very focused on protecting American technology", said Mnuchin. But this is too important to be over.

Memorial Day weekend filled with activities in Fox Valley
Organizers believe this is the oldest consecutively running Memorial Day parade in the nation and it was started in 1868. It is recommended you bring something that will help you carry the flags with you as place flags to honor the fallen.

Turkish lira plummets against dollar
He added that he supported any action by the central bank to put a brake on the slide in the lira and achieve price stability. Analysts at Commerzbank said in a note that Turkey was going through a "currency crisis".

Trump orders investigations into import of automobiles, auto parts
Trump brought a little-used weapon to his fight to protect auto workers: Section 232 of the Trade Expansion Act of 1962. Trump has regularly complained that other countries impose higher tariffs on imported vehicles than the US does.

On Tuesday, China's Ministry of Finance announced a plan to cut taxes from 25% to 15% for most foreign cars starting July 1, among other measures.

Chinese officials had viewed the US punishment as an attack exposing their country's dependence on imports of key technologies. "President Xi [Jinping] has played President Trump and Secretary [Steven] Mnuchin".

The bottom line is that Trump is capitalizing on the leverage provided by his giant home market to alter trade in ways that benefit targeted industries - which is what China does.

In a 32-2 vote, the Senate Banking Committee advanced legislation Tuesday that limited the president's ability to ease sanctions on Chinese telecom companies, requiring the administration first prove to Congress that the company is complying with USA law. "We will see what happens", he said.

"Sadly #China is out-negotiating the administration & winning the trade talks right now. China has committed to lower tariffs on many things and made structural changes to protect our technology".

Trump on Thursday scrapped the historic summit with Kim Jong Un, set to take place June 12 in Singapore, to discuss the "denuclearization" of North Korea.

Trump has been insistent about reducing the trade deficit - which the White House has blamed for the loss of millions of U.S.jobs - between the two countries and has taken aim at China's practice of intellectual property theft.

China's tariffs on cars have long angered President Donald Trump.

The president's misgivings open the prospect that a trade war Treasury Secretary Steven Mnuchin had declared "on hold" is at risk of resuming.

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