US: U.S., China Consider Rolling Back Tariffs as Part of Initial Trade Deal - - PressFrom - US
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US U.S., China Consider Rolling Back Tariffs as Part of Initial Trade Deal

06:15  05 november  2019
06:15  05 november  2019 Source:   online.wsj.com

China Says Part of Phase 1 Trade Deal Text ‘Basically Completed’

  China Says Part of Phase 1 Trade Deal Text ‘Basically Completed’ China said parts of the text for the first phase of a trade deal with the U.S. are “basically completed” as the two sides reached a consensus in areas including standards used by agricultural regulators. © Reuters The flags of China, U.S. and the Chinese Communist Party are displayed in a flag stall at the Yiwu Wholesale Market in Yiwu, Zhejiang province, China, May 10, 2019. The Saturday comments followed a call Friday with Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

WASHINGTON— U . S . and Chinese officials are actively considering rolling back some tariffs to clinch the partial trade deal under negotiation, according to people familiar with the talks. “If there’ s a deal , [removing] tariffs will be part of it,” a senior administration official said late Monday.

China will struggle to buy billion of U . S . farm goods annually unless the U . S . rolls back tariffs on the coutnry' s products, Bloomberg reported Tuesday. On Friday, President Donald Trump said the

WASHINGTON—U.S. and Chinese officials are actively considering rolling back some tariffs to clinch the partial trade deal under negotiation, according to people familiar with the talks.

a large orange truck parked in front of a building© mike blake/Reuters

“If there’s a deal, [removing] tariffs will be part of it,” a senior administration official said late Monday.

The U.S. and China have agreed in principle to what President Trump has called the first of several phases of an accord to end the dispute that has penalized hundreds of billions of dollars of trade between the two countries.

“Both governments have to give to get,” said Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce, who closely follows the talks. “The two sides are really close to a deal but it will come down to the presidents to make the final call.”

US might extend some tariff exclusions on Chinese imports

  US might extend some tariff exclusions on Chinese imports The US Trade Representative will consider extending certain exclusions for up to one year.In July 2018, the USTR imposed 25% duties on $34 billion worth of Chinese goods. It granted the first set of exclusions for the likes of cellphones and televisions in December of that year, which are set to expire on Dec. 28, 2019. The USTR is now considering extending some exclusions for up to 12 months.

[ U . S .- China trade war worsens, but global markets find a footing.] “I have no idea what’ s going to The renewed brinkmanship has plunged the world’ s two largest economies back into a trade war The United States and China were nearing a trade deal that would lift tariffs , open the Chinese The White House will consider taking additional measures to mitigate the effects of any retaliatory

The tariffs on China by the Trump administration shift what has primarily been a war of words between Washington and Beijing into a full-blown trade Employees at a manufacturing plant in McKeesport, Pa., earlier this year. China said it will hit back by imposing its own tariffs on United States

The “phase one” pact would include Chinese purchases of American farm goods, rules to deter currency manipulation and some provisions to protect intellectual property and open up Chinese industries to U.S. firms, officials have said. The phase one deal was widely expected to deter Mr. Trump from imposing brand-new tariffs on Dec. 15 as planned, but negotiators now are working on a framework that would also roll back some existing tariffs, the people said.

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The Financial Times earlier reported that Trump administration officials were considering cutting tariffs of 15% on about $111 billion in Chinese imports imposed Sept. 1.

Trump says new site in works for next round of China trade talks

  Trump says new site in works for next round of China trade talks President Trump said Thursday that the next round of trade negotiations with China was still on despite Chile canceling the Asia-Pacific Economic Cooperation event at which the two sides had planned to meet. The president said that the White House and Beijing were close to settling on a new meeting place. © Provided by MediaDC: Washington Newspaper Publishing Company, Inc."China and the USA are working on selecting a new site for signing of Phase One of Trade Agreement, about 60% of total deal, after APEC in Chile was canceled do to unrelated circumstances. The new location will be announced soon.

China had hoped that if Xi traveled to the U . S . to sign a phase one trade deal it would be as part of China has stated for months that a final deal must include the removal of all punitive tariffs China ’ s government has signaled it will hit back over the blacklist, and the companies have denied wrongdoing.

China will struggle to buy billion of U . S . farm goods annually unless the U . S . rolls back tariffs on the coutnry' s products, Bloomberg reported Tuesday. The deal would avert a new round of tariffs on China , and includes an agreement by the Chinese to purchase up to billion worth of agricultural

Retailers and apparel producers have widely criticized those tariffs, and it is that tranche of levies that officials are currently considering rolling back. The senior administration official said China would also ease some duties on U.S. imports.

The negotiations haven’t yet concluded, and Mr. Trump and top Chinese officials are yet to sign off on a final version of the phase one pact. Mr. Trump has applauded tariffs both as tools to win trade concessions and as economic barriers to imports that he sees as harming American industries.

Hawkish officials have defended the China tariffs, and Republicans in Congress have broadly supported Mr. Trump’s efforts to confront China with a variety of tools.

Still, most top economic officials opposed the Sept. 1 tariffs, since they directly affect the price of imported consumer goods.

For weeks, Chinese officials and the international business community have sought to build support for reducing tariffs in exchange for the farm-product purchases or other concessions from Beijing. A spokesman for the Chinese embassy in Washington didn’t immediately reply to a request for comment.

World's biggest trade deal to be delayed to 2020: Draft ASEAN statement

  World's biggest trade deal to be delayed to 2020: Draft ASEAN statement The signing of the world's largest trade pact will likely be kicked back to 2020, according to a draft statement by Southeast Asian leaders, delaying a deal craved by China to offset a painful tariff war with the US. © TANG CHHIN SOTHY The Association of Southeast Asian Nations will likely delay finalising a regional trade pact at a summit in Bangkok The 16-nation Regional Comprehensive Economic Partnership (RCEP) spans from India to New Zealand and includes 30 percent of global GDP and half of the world's people.

15 tariffs is being considered as part of negotiations and a potential signing trip this month. Another source briefed on the talks said Chinese Trump had said on Friday evening that negotiations on the initial phase agreement were going well and he hoped to sign the deal with Xi at a U . S . location when

WASHINGTON (Reuters) - The United States and China appear close to a deal that would roll back U . S . tariffs on at least 0 billion U . S . President Donald Trump and Chinese President Xi Jinping could seal a formal trade deal at a summit around March 27 given progress in talks between the two

Eliminating some of the tariffs could widen the scope of the phase one deal to include more provisions overall. That would allow Mr. Trump to showcase a broader initial deal, since it isn’t clear when any future phases might be negotiated. Rolling back tariffs could also improve rapport if negotiators on both sides want to pursue a phase two and phase three.

Most major structural issues that affect U.S. businesses would likely be left to future negotiations.

Mr. Trump and Chinese President Xi Jinping had been expected to sign the phase one deal, if completed, at a gathering of Asia-Pacific leaders in Chile, but the government in Santiago canceled the gathering due to national protests. Washington and Beijing officials are now considering bringing the two leaders together elsewhere.

“If we get the deal, the meeting place will come very easily,” Mr. Trump said Sunday. “It’ll be someplace in the U.S.”

Write to William Mauldin at [email protected] and Alex Leary at [email protected]

Trump says China trade talks moving along nicely, but deal has to be right .
U.S. President Donald Trump said on Saturday that trade talks with China were moving along "very nicely," but the United States would only make a deal with Beijing if it was the right deal for America. © Reuters/ALY SONG Containers are seen at the Yangshan Deep Water Port in Shanghai Trump told reporters at Joint Base Andrews before leaving for a visit to Tuscaloosa, Alabama, that the talks had moved more slowly than he would have liked, but China wanted a deal more than he did.

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