World: China Claims Tariffs Will Go, but Others Express Doubts - - PressFrom - US
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World China Claims Tariffs Will Go, but Others Express Doubts

04:15  08 november  2019
04:15  08 november  2019 Source:   online.wsj.com

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.

Beijing’s announcement that the U.S. and China have mutually agreed to roll back tariffs lifted financial markets, adding to optimism that the 18-month trade war is beginning to wind But there are doubts about Beijing’s true commitment to opening its market. Photo: Johannes Eisele/AFP via Getty Images.

“The communication around these complex cases to employees and the investor base is going to be key,” said Matthew Todd, an associate director at S&P Global Ratings. Join the Conversation. China Claims Tariffs Will Go , but Others Express Doubts .

WASHINGTON—Beijing’s announcement Thursday that the U.S. and China have mutually agreed to roll back tariffs as part of a “phase one” trade accord lifted financial markets, but questions remained over how much ground—if any —the Trump administration had agreed to give.

a view of a city street filled with lots of traffic© Qilai Shen/Bloomberg News

Neither the White House nor the U.S. trade representative issued a public response to China’s statement, and there were conflicting reports from within the Trump administration as to whether there was a firm commitment to reduce tariffs.

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The side of Nielsen that issues traditional TV ratings and other media metrics hasn’t kept up with the rise of streaming video or marketers’ desire to understand audiences in more detail than gender and age, said Join the Conversation. China Claims Tariffs Will Go , but Others Express Doubts .

The finance chief of Johnson Controls International PLC is retiring, creating an opening for an executive who can refine the company’s recent transition into a pure-play provider of building-efficiency products and services after shedding other business lines.

Optimism that the trade war was finally nearing an end was raised by comments from a Chinese Commerce Ministry spokesman in Beijing on Thursday.

“If the phase-one deal is signed, China and the U.S. should remove the same proportion of tariffs simultaneously based on the content of the deal,” Chinese Commerce Ministry spokesman Gao Feng said at a regular press briefing. “This is what [the two sides] agreed on following careful and constructive negotiations over the past two weeks,” he said.

One U.S. official concurred that the two sides are planning to roll back tariffs as part of an initial trade pact—which would indicate that reports earlier this week that such a rollback was under consideration had progressed.

But two other people familiar with the administration’s thinking disputed that a formal rollback plan had been agreed on.

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WASHINGTON — The United States and China have agreed that an initial trade deal between the two countries would roll back a portion of the tariffs placed on each other ’s products, a significant step toward defusing tensions between the world’s largest economies.

The total represents a decline from the full-year record total of about million issued by the commission during the previous fiscal year, when five awards went to tipsters, including the largest award of million, according to the China Claims Tariffs Will Go , but Others Express Doubts .

“There are no plans to roll back any tariffs in exchange for phase one,” said one of the people. Chinese officials are “trying to renegotiate the deal to their advantage.”

Michael Pillsbury, a Hudson Institute expert who advises the Trump administration, said he believed the statement from China’s Commerce Ministry “may represent wishful thinking on the Chinese side more than a specific agreement.”

Former White House chief strategist Steve Bannon said China has mounted a “sophisticated influence operation” to make tariff rollbacks part of any deal.

Still, there is growing pressure on the Trump administration to reach a concession with China as President Trump faces possible impeachment by the House of Representatives and a 2020 re-election campaign.

There are also signs that the tariffs—paid by U.S. businesses and ultimately passed on to consumers—are becoming a drag on U.S. economic growth.

U.S., China Consider Rolling Back Tariffs as Part of Initial Trade Deal

  U.S., China Consider Rolling Back Tariffs as Part of Initial Trade Deal 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. © 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.

The Buffalo plant, as well as other factories near Syracuse and Plattsburgh, is owned by the Fort Schuyler Management Corp., a nonprofit entity led by officials from SUNY Poly and other state agencies. China Claims Tariffs Will Go , but Others Express Doubts .

WASHINGTON — Nervous business owners are spending seven days trying to persuade the Trump administration not to impose tariffs on an additional 0 billion worth of Chinese goods. Most are bracing for disappointment.

In September, the last month for which data are available, American importers paid a record $7 billion in duties. Economic growth slowed below 2% in the third quarter after growing almost 3% for most of 2017 and 2018.

Though the unemployment rate has remained low, job growth has stalled in the manufacturing sector this year.

Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce, welcomed reports that tariffs would be phased out.

“We’re giving up tariffs that hurt our economy, that hurt manufacturers and farmers and consumers and retailers,” Mr. Brilliant said. “In return we’re asking China to make concrete commitments in specific areas—ag purchases, financial services, financial markets—as well as making additional concessions in other areas.”

The U.S. has hit about $360 billion of Chinese imports with tariffs, in four different tranches, and it was unclear Thursday as to how many of these tariffs would be affected or under what timeline. There were also no details as to whether the U.S. would reduce the tariff rate, or remove tariffs entirely.

China says US agrees to tariff rollback if deal reached

  China says US agrees to tariff rollback if deal reached China and the U.S. have agreed to roll back tariffs on each other’s goods in phases as they work toward a deal between the two sides, a Ministry of Commerce spokesman said. “In the past two weeks, top negotiators had serious, constructive discussions and agreed to remove the additional tariffs in phases as progress is made on the agreement,” spokesman Gao Feng said Thursday.“If China, U.S. reach a phase-one deal, both sides should roll back existing additional tariffs in the same proportion simultaneously based on the content of the agreement, which is an important condition for reaching the agreement,” Gao said.

The US and China have imposed tariffs on each others ' goods, worth billions of dollars worth of annual trade since last year. The duties have hurt trade, acting as a drag on the economies of both countries and putting pressure on their leaders to strike an agreement.

China Claims Tariffs Will Go , but Others Express Doubts .

Mr. Brilliant said one option would be to unwind the 15% tariffs that were imposed Sept. 1 on about $111 billion in goods, and agree to refrain from moving forward with a tariff increase planned for Dec. 15 that would hit major categories of Chinese consumer goods and electronics.

The removal of tariffs has been one of the recurring sticking points in the negotiations. Beijing has pressed the U.S. to end all the tariffs, describing that as one of its bottom lines when talks fell apart earlier this year. Washington has discussed removing tariffs as part of a compliance mechanism, under which tariffs would come off gradually if China fulfills its commitments over time under the trade deal.

It was unclear whether what the Chinese officials described could be considered that compliance mechanism.

Chinese officials have typically declined to characterize the amount of progress in the trade talks, but the officials on Thursday depicted the phasing out of tariffs as a hard-won result. Their statements could be a sign of China’s confidence that it has leverage in closing out the first phase of their deal.

“The Chinese have decided that Trump needs this more than they do, and they’re trying to do what they always do, which is pushing their advantages,” said William Reinsch, a senior adviser at the Center for Strategic & International Studies in Washington. “They’ve been more aggressive on pushing [for removal of] the tariffs than before, and they’ve pushed pretty hard on that.”

Trump could slap steep tariffs on imported cars next week

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“That expresses China ’s greatest sincerity. And we want to resolve some of the differences we face honestly, confidently and rationally. The new 25 percent rate went into effect at 12:01 a.m. Friday. But the higher tariffs will hit only products that leave China after that time, not those already in transit.

President Trump’s new tariffs on Chinese imports, which took effect at 12:01 a.m. on Friday, are taxes that will be paid by Americans. That is a simple fact, and it remains true no matter how many times Mr. Trump insists the money will come from China .

Mr. Trump has expanded and increased tariffs on Chinese imports to pressure Beijing into complying with U.S. demands, while China has retaliated to each increase with tariffs of its own. Last month, he agreed to cancel plans to boost tariffs on some goods—but the U.S. has yet to lower any tariffs once they have been put in place.

The phase-one deal is widely expected to deter Mr. Trump from imposing new tariffs on Dec. 15 as planned.

The U.S.’s top trade negotiator, Robert Lighthizer, has pushed Beijing to let the U.S. establish enforcement offices as part of the deal. When the U.S. announced in October that the two sides would try to resolve the trade dispute in stages, Mr. Lighthizer said the sides agreed to have a “workable dispute- settlement mechanism.”

The Chinese Commerce Ministry’s Mr. Gao reiterated China’s longtime stance that the U.S. is the instigator of the dispute and should take responsibility in de-escalating tensions: “The trade war started with increasing tariffs and should end in removing all tariffs,” he said.

Nick Marro, a trade analyst at the Economist Intelligence Unit, said Mr. Gao’s statement may reflect growing confidence by China that Mr. Trump is eager for a deal.

“China may pick up on this and start playing hardball, because they know that—at least politically—they have the upper hand,” Mr. Marro said.

In Beijing, people following the talks say it makes sense for Chinese negotiators not to give in to U.S. demands, including that China buy about $50 billion of American farm goods within two years.

“Does China even have this big of a demand?” said Shi Yinhong, international studies professor at Renmin University and an adviser to the State Council, China’s cabinet.

Mr. Shi also expressed skepticism whether negotiators had completed terms for a phase-one deal: U.S. deliberations on rolling back existing tariffs, for example, are probably an effort to extract additional concessions from Beijing, he said.

At a conference in Beijing last weekend, several Chinese speakers, including former government officials, said they expect disputes of different types between the U.S. and China to stretch on for decades, whatever the prospects for a near-term agreement.

“The frictions are not just about trade,” said Liu Shijin, deputy director of economic affairs at China’s legislative body. “A lot of areas [for disagreement] haven’t even started yet.”

Write to Josh Zumbrun at [email protected], William Mauldin at [email protected] and Chao Deng 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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