China Scraps U.S. Farm Tour, Stoking Pessimism on Trade Deal

22 Septembre, 2019, 16:20 | Auteur: Anatole Charbonneau
  • China Scraps U.S. Farm Tour, Stoking Pessimism on Trade Deal

The Trump administration and China's Communist Party remain far apart on issues that are the basis of their trade dispute, including the USA declaring some Chinese state companies national security risks, and Beijing's refusal to revamp its economic model by eliminating subsidies for state companies. Last month, Trump delayed imposing a 10 percent tariff on Chinese-assembled smartphone, laptops, and video game systems until December 15 amid concerns the trade action would raise prices on goods during the holiday shopping season. The worst-case scenario, he said, is that the president alienates his allies and Iran carries out more attacks on US interests and allies.

Trump has indicated that the United States wants an agreement that addresses China's alleged violations of intellectual property rights. "We are looking for the big deal".

"I hope the US government realises that they are no longer the only economic superpower in the world and that there are many countries that want to benefit from the Iranian market", Foreign Ministry spokesman Abbas Mousavi said, according to state media.

The products stem from a list of more than 1,100 exclusion requests by USA companies, CNBC reported Friday.

According to three Federal Register notices published Friday morning, hundreds of goods that had been subject to three waves of tariffs imposed last year will be exempted from those additional duties for about a year, in response to requests from United States companies which argued that the levies would cause economic hardship.

The United States is asking that China substantially increase purchases of USA soybeans and other farm commodities, a person with knowledge of the planned discussions said.

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The Chinese government's top diplomat, State Councillor Wang Yi, is due to address the United Nations next week, when more than 135 presidents and prime ministers and dozens of ministers were expected to attend the 74th U.N. General Assembly. China's growth has been great for Australia, but we need to make sure that we all compete on the same playing field.

The United States had removed tariffs overnight from over 400 Chinese products in response to requests from USA companies.

"China is a big economy, not as big as the United States, but it's a big economy, and that means we've all got to get on the same page with how the rules work. That's what we're working to achieve", Morrison said. In a comment seemingly aimed at Trump, Tillerson said: "If you ever think about a negotiation as a win/lose, you're going to have a bad experience, you're going to be very dissatisfied, and not very many people are going to want to deal with you". "We've taken in many, many billions of dollars of tariffs". One set, which is based on tariffs on $200 billion worth of goods implemented last September, will expire in August 2020.

Despite Mr Trump's renewed criticism of China, the two countries have been taking steps to ease tension in recent weeks as they try to resolve a dispute that has cast a cloud over the global economy.

"They made a mistake, " Trump said Friday. We've never taken in 100 cents from China. It was always the other way around. And want to make a deal.

Though not specifically addressing Trump's speech on Tuesday, the administration official said he would "affirm America's leadership role in the rules-based worldwide system, and the need to work collectively within the global community to address global challenges".



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