Trump team demands China slash U.S. trade surplus by $200 billion, cut tariffs

[DonViejo]

Source: Reuters



MAY 3, 2018 / 8:44 PM / UPDATED 37 MINUTES AGO

Sue-Lin Wong, David Lawder


BEIJING/WASHINGTON (Reuters) - The United States has demanded that China cut its U.S. trade surplus by $200 billion, end subsidies for advanced technology industries and sharply cut import tariffs to U.S. levels, two people familiar with U.S.-China trade talks said on Friday.

The lengthy list of demands was presented to Beijing prior to the start of talks Thursday and Friday between top-level Trump administration officials and their Chinese counterparts to try to sort out disputes that have threatened a damaging trade war between the world’s two largest economies.

The talks ended with China’s Xinhua news agency describing them as “constructive, candid and efficient” but with disagreements that remain “relatively big.”

The U.S. side has yet to give its account of the talks, and there was no sign that President Donald Trump would back off on his threat to impose tariffs on up to $150 billion in Chinese goods over allegations of intellectual property theft.

Read more: Link to source

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'Relatively big' issues remain on U.S.-China-trade, Chinese state media says

By LOUIS NELSON 05/04/2018 07:57 AM EDT

A Chinese state-run news agency reported Friday that certain disagreements in economic negotiations between the U.S. and China remain “relatively big” even as progress is made on other fronts, according to a Reuters report.

The Xinhua news agency said the U.S. and Chinese delegations had agreed to resolve trade disputes via dialogue, Reuters reported.

"Both sides realized that there are some relatively big differences on some issues. And more work needs to be done to achieve more progress," Xinhua stated.

A delegation of U.S. officials, led by Treasury Secretary Steven Mnuchin, left China Friday after multiple days of talks aimed at President Donald Trump’s priority of resetting the trade relationship between the two nations onto more favorable terms for Washington. The president has complained often about the significant trade deficit the U.S. runs with China and has accused Beijing of unfair trade practices, including allowing intellectual property theft.

“We’re having very good conversations,” Mnuchin told reporters Friday ahead of talks with Chinese officials, according to the AP.

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https://www.politico.com/story/2018/05/04/china-us-trade-568595

[bitterross]

1. I'm sure they'll hop right on that.

As if they really care about what 45 says.

[Eyeball_Kid]

3. Yeah. China's hopping on it with ending the import of soybeans from the US.

Midwestern farmers are in for a world of hurt. Tough guy Trumpy kicks his "forgotten Americans" in the teeth so he can "manhandle" China. Hey! All you Fanboys out there! Is anyone a farmer in Iowa? Illinois? Nebraska? Anyone grow soybeans? oh.. Not any more. China DID import more soybeans from the US than any other nation. Say goodbye to billions.

[Rural_Progressive]

4. No doubt Donnie O will help those same farmers

meet their loan and lease payments on their land and equipment so they can ride this "small amount of pain" out without losing the land and machinery they depend on for their livelihood.

There's just about as much chance of that happening as my pigs taking flight, my herd of unicorns grazing down my pastures, and lollypops and candy canes sprouting from my gardens.

[bucolic_frolic]

2. Whatever you need or use from China, buy it now

We are so vulnerable to this, so many items and parts now made in China

[Wellstone ruled]

5. Hey Donnnie,you lost.

We are now the Second most powerful Economy on Earth,thanks to our POS President. Wilbur Ross thinks it is still 1969 and his Pal Richard Nixon just opened China. Dementia has side effects Wilbur.

[Cicada]

6. Will Trump alienate Chinese buyers of US goods?

The Chinese buy more cars than are sold in the US. Soon the Chinese markets will lead the world in about everything. So we need to be careful that we don’t alienate their consumers. We will need to sell to their increasingly wealthy consumers. If Trump poisons our brand we will suffer.

[Wellstone ruled]

7. We only think short term.

China has just put China First Policy in place. While our Conservative Isolationist Politicians worry about their next reelection,China has eaten our lunch. They are now on a path to total self sufficiency. enough said. We are on our path to third world status and we are damn close to it at this time.