China urges sincerity in Sino-US trade talks | #AsiaNewsNetwork

Negotiations between the United States and China have soured dramatically since early May when Chinese officials sought major changes to the text of a proposed deal that the Trump administration says had been largely agreed

Negotiations between the United States and China have soured dramatically since early May when Chinese officials sought major changes to the text of a proposed deal that the Trump administration says had been largely agreed

China has invited the US delegation to Beijing after the two countries failed to reach a trade agreement in Washington DC this month.

That timeline, which is accelerated compared to previous rounds of tariffs, means the next levies could be ready around the time when Trump is expected to meet Chinese President Xi Jinping at a G20 summit in Japan June 28-29.

"The government is acting very quickly this time to support the domestic high technology industry after Huawei was targeted in the rising trade tension", Wu Kan, an investment manager in Shanghai, told the paper.

Long considered the ballast in a relationship fraught with geopolitical frictions, the US business community in China in recent years has advocated a harder line on what it sees as discriminatory Chinese trade policies.

President Trump, who once declared that trade wars were "good" and "easy to win", has embraced protectionism as part of his "America First" agenda.

Companies in the US are paying nearly all the costs from Donald Trump's tariffs on Chinese imports, International Monetary Fund researchers said in findings that contradict the president's assertions that China is footing the bill. Trump accelerated the war after earlier accusing China of reneging on its commitments in trade talks and ordering new punitive duties on $200 billion worth of Chinese imports by raising them to 25 percent from 10 percent.

"Canada and Mexico may now be able to, and be in a position to, supply the U.S. with some of the steel, aluminum, and/or other goods which tariffs on Chinese imports have made much more expensive, " the researcher explained. An escalating trade war between the us and China could mean higher prices on a broad array of products from toys to clothing.

Trump past year already promised farmers a $12 billion aid package to help mitigate the first wave of Chinese retaliatory measures after Trump slapped tariffs on Chinese imports.

Celebrity Chef Jamie Oliver's restaurant empire on verge of collapse
Rumours had been rife that things had gone sour for the chain, pummelled by takeout apps, intense competition and rising rents. Celebrity chef Jamie Oliver's British restaurant chain filed for bankruptcy protection Tuesday, leaving 1,300 jobs at risk.

The report concludes what most private economists have argued for months: that China doesn't pay US tariffs, American consumers and companies do.

"This package ensures farmers will not bear the brunt" of the trade wars, Perdue said.

Lu said at a Foreign Ministry news briefing that China has reiterated that its door is always open, but negotiations must be meaningful and conducted with sincerity.

A person briefed on the matter said the United States is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision Digital Technology Co Ltd over Beijing's treatment of its Uighur Muslim minority.

China is seeking to support from some of its Asian neighbors and Russian Federation in its escalating tariff fight with the U.S. Based on last year's trade, that leaves about $45 billion in imports from the U.S.

Meanwhile, China's Ambassador to the United States Cui Tiankai on Tuesday blamed the United States for the collapse of trade talks.

According to a separate report Thursday from researchers at the Federal Reserve Bank of NY, the U.S.'s 15 percentage-point increase in tariffs will result in an annual cost of $831 per American household, about double the bill on Trump's 2018 tariffs.

Recommended News

  • Minds uneasy after pet is euthanized to be buried with owner

    Minds uneasy after pet is euthanized to be buried with owner

    Virginia law defines a cemetery as "any land or structure used or meant to be used for the interment of human remains". Lucas discussed how hard euthanasia is for all involved. "It weighs on us as professionals", said Dr.

    Higher energy prices push inflation back above 2pc target

    The increase sent the average household bill up more than 14pc compared to a year ago, while gas bills rose by 7.1pc. The measure of price rises had stood at 1.9% in both March and February, up from a two-year low of 1.8% in January .
    Zoo euthanizes flamingo after child hits it with rock

    Zoo euthanizes flamingo after child hits it with rock

    They can live up to an average of 30 years, according to the university with those in captivity sometimes reaching 60 years old. According The Pantagraph , Tetzloff said that the Bird's broken leg left the zoo no choice but to euthanize the animal.
  • Drake Gifted Custom Raptors/OVO Jacket Worth $769,000 by the Team

    Drake Gifted Custom Raptors/OVO Jacket Worth $769,000 by the Team

    This is the fifth year the tailors have gifted the team's global ambassador with a custom piece to commemorate the season. Drake was presented with the jacket at the Scotiabank Arena by Raptors president Masai Ujiri right before Game 4 began.
    Man arrested in attempt to extort Chiefs' Tyrann Mathieu

    Man arrested in attempt to extort Chiefs' Tyrann Mathieu

    In late April, according to court records, Mathieu was in Kansas City when he got a phone call from Sears, who was in New Orleans. Mathieu kicked off his National Football League career in 2013, when he was selected in the third round by the Arizona Cardinals.
    Eastern Virginia Medical School says probe into Northam's yearbook photo is done

    Eastern Virginia Medical School says probe into Northam's yearbook photo is done

    Northam said initially he was indeed in the photo, but later went back on that remark, saying he spoke in error. Homan became president of the school in 2013 as Northam was running for lieutenant governor.
  • Legal notices for Vivek Oberoi

    Legal notices for Vivek Oberoi

    He also commented that on occasions, something that appears amusing and harmless for some might not appear so for others. They even served him a notice in the same regard. "Someone sent me a creative meme where I was being made fun of".
    Google faces first GDPR investigation in Europe

    Google faces first GDPR investigation in Europe

    A watershed for U.S. privacy law, CCPA was the first law in the United States to include rights inspired by GDPR. Any firm that provides services to this population will need to comply with CCPA.
    Tiger sharks have a diet of land birds

    Tiger sharks have a diet of land birds

    A late 2018 paper highlighted a substantial decline in certain shark populations , part of a worrying global trend . And this, kids, is how you collect the contents of a tiger shark's stomach.
  • European Union  citizens angry at being denied a vote in UK

    European Union citizens angry at being denied a vote in UK

    A spokesman for Leeds City Council said: "We are aware of isolated cases where electors have been turned away from polling stations".
    Amy Schumer returns to the stage 14 days after giving birth

    Amy Schumer returns to the stage 14 days after giving birth

    Similarly, she responded to journalist Jessica Yellin who said 'I can only imagine what a pump room looks like at a comedy club. Another follower enthused, "You can't keep a good woman down!" She later revealed the name of their son as Gene Attell Fischer.
    'American Taliban' to be released from IN  prison

    'American Taliban' to be released from IN prison

    At his 2002 sentencing he said he traveled to Yemen to learn Arabic and then to Pakistan to study Islam. Spann had been questioning Lindh at a prison, when his fellow prisoners staged a bloody revolt.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.