US-China Trade Negotiations get Stalled
High-risk trade negotiations between US and China run into trouble when the two countries try to finalize trade agreements on a limited basis.
TRIBUNBATAM.id - High-risk trade negotiations between US and China run into trouble when the two countries try to finalize trade agreements on a limited basis.
Launch CNBC, Thursday (11/14/2019), the US is currently trying to secure stronger concessions from China to regulate intellectual property protection and stop the practice of forced technology transfer in return for withdrawing some tariffs.
From some information about the closest US and China sources, both parties experienced a deadlock in the agreement. However, the US and China said that in principle they have an agreement that must be agreed to since a month ago.
The Wall Street Journal first reported that the two countries experienced obstacles in trade talks. It also said that China was hesitant to commit to the US in relation to certain agricultural products in the context of a potential agreement.
China agreed to buy up to 50 billion dollars in US agricultural goods, as part of a phase one trade agreement as President Donald Trump said last month.
The two countries reached an agreement last month and began working to complete a limited trade agreement which is expected to be signed by the end of this month.
China insisted on returning existing tariffs as part of the agreement, but the US showed resistance to the abolition.
White House economic adviser Larry Kudlow said that there would be no tariff adjustments until a trade agreement with China was made.
The Trump administration has imposed tariffs of more than 500 billion US dollars on Chinese goods, while Beijing imposes a duty of around 110 billion US dollars on American products. (*)
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