Jump to content
BANGKOK
webfact

China, U.S. to review trade deal, air other grievances on August 15 - sources

Recommended Posts

China, U.S. to review trade deal, air other grievances on August 15 - sources

By David Lawder

 

2020-08-04T205046Z_2_LYNXNPEG731MX_RTROPTP_4_USA-TRADE-CHINA.JPG

FILE PHOTO: Chinese and U.S. flags flutter in Shanghai, China June 3, 2020. REUTERS/Aly Song

 

WASHINGTON (Reuters) - Senior U.S. and Chinese officials will review the implementation of a Phase 1 trade deal and likely air mutual grievances in an increasingly tense relationship during an Aug. 15 videoconference, two people familiar with the plans said.

 

U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, the principal negotiators for the two countries, will participate in the meeting, which is an initial semi-annual review of the pact signed on Jan. 15 and activated a month later.

 

The meeting plans were first reported by the Wall Street Journal. The U.S. Trade Representative's office and the U.S. Treasury did not respond to requests for comment.

 

Under the Phase 1 trade deal signed in January, China had pledged to boost purchases of U.S. goods by some $200 billion over 2017 levels, including agricultural and manufactured products, energy and services.

 

But China, battered by the global coronavirus recession, is far behind the pace needed to meet its first-year goal of a $77 billion increase. Imports of farm goods have been lower than the 2017 level, far behind the 50% increase needed to meet the 2020 target of $36.5 billion. Beijing has bought only 5% of the energy products needed to meet the Phase 1 first year goal of $25.3 billion.

 

One of the people familiar with the plans said Chinese officials hoped to discuss other issues beyond the Phase 1 trade deal implementation.

 

"It's both the normal semi-annual review and also comes at a time when the relationship continues to deteriorate. Naturally there is much to discuss," the person said.

 

Trump has threatened to end the trade pact over China's early handling of the coronavirus, which originated in the Chinese city of Wuhan, and tensions have risen over U.S. sanctions related to China's security crackdown on Hong Kong.

 

The latest irritant between the world's two largest economies is Trump's threat to ban U.S. use of the Chinese-owned video app TikTok unless it is sold to a non-Chinese buyer.

 

White House officials on Tuesday could not say how Trump's suggestion that a portion of the proceeds of the sale -- potentially to U.S. software giant Microsoft <MSFT.O> -- should go to the U.S. Treasury could be implemented.

 

(Additional reporting by Kanishka Singh in Bengaluru; editing by Jonathan Oatis and Tom Brown)

 

reuters_logo.jpg

-- © Copyright Reuters 2020-08-05
 
  • Haha 1

Share this post


Link to post
Share on other sites
Posted (edited)

That´s going to work perfect as long as Trump does not steal the red fire truck from Xi, and that Xi not dig down Trump´s blue police car.

 

As long as both playmates dig deep and refrain from throwing sand in each others eyes, this can be the start of a lifelong friendship.

Edited by Matzzon
  • Thanks 1
  • Confused 1

Share this post


Link to post
Share on other sites

Oh boy bet the you know what’s gonna hit the fan the Chinese are <deleted> off allready they know trumps headed to the dumpster my guess is they are going to stick it to us 

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites

At the end of the day the US and China need each other.  The US is in the toilet and China knows it.  China on the other hand is an emerging/emerged giant with a shrewd business head.  If Trump can control himself and think of the US first, and not himself, I believe a reasonable settlement will be reached which will benefit both sides.  All empires eventually crumble and the US has to realise it has had its day but to make the best of it.

Share this post


Link to post
Share on other sites
2 hours ago, brianp0803 said:

China is likely going to delay and hope Biden gets elected. Unlikely Biden will be able to remain focused long enough to make a fair deal for America. Then China will continue on their path of world economic dominance. 

Standing up to China now will cause some short term pain. But nothing compared to the pain if China is allowed to do anything it wants for 8 more years.

 

 Suggesting playing nice with China so we feel no pain is the same as a mother telling her child to give the bully all you money and your Iphone so he doesn’t hurt you. But maybe some feel it is better to just pay the bully and not risk getting hurt.

 

12 minutes ago, Isaan sailor said:

Too many China cheerleaders here.  Very suspicious.

Again the same old same old nonsense.

 

Disagreeing with the present approach does not equate 'playing nice with China' or 'cheerleading China'.

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites

An unattributed post has been removed

Share this post


Link to post
Share on other sites
15 hours ago, Tug said:

Oh boy bet the you know what’s gonna hit the fan the Chinese are <deleted> off allready they know trumps headed to the dumpster my guess is they are going to stick it to us 

That is their 500 year plan. The 100 day plan is they don't have to follow their side of the agreement until after November 4th, if then.

  • Like 1

Share this post


Link to post
Share on other sites
3 hours ago, Isaan sailor said:

Too many China cheerleaders here.  Very suspicious.

Cheerleaders? No. Realists, yes.

If the western world wishes to maintain its independence and to  stand up to  China expansionism, it must wean itself of its dependence on China. It will take time. 50 years of stupidity cannot be reversed over night. It will take time to rebuild the factories, to train the skilled workers and to retool, perhaps a decade. It will also require many westerners to rediscover  manual and skilled labour and to understand that there is no shame in doing it.

 

Almost a century and  half ago  ago, the European opium  sellers, at gunpoint,  forced opium on China.  The first US multimillionaire, J.J. Astor made his  fortune on opium smuggling to China,  and the British violently grabbed huge chunks of China, including Hong Kong. The Chinese never forgot this theft, abuse and humiliation. Today, we see that they have  turned the table, on the west making  the west the addicts, dependent upon cheap consumer and essential products. The Chinese were patient and long term strategy focused. Westerners are not. Everything is short term, with an immediate profit. Capitalism run amuck and the end result is economic cannabilism.  

 

I don't want to be subservient to the Chinese, nor at there mercy for the most basic of  supplies. It will  be expensive to  regain economic independence and those who demand an immediate cut, will be the first to complain about the cost of doing so. We need to do it and the sooner the better, but the Trump strategy is non existent. It's all talk, with little thought to how it will get done.

 

What a  farce,when some say Biden will cave in. Well, it wasn't the democrats who argued for the shift of jobs out of the USA. The largest transfers occurred during the heyday of Republican administrations. Everyone was rushing to cash in on China. For the past 50 years, no one makes a profit in China except the Chinese. 

 

 

 

  • Like 2

Share this post


Link to post
Share on other sites
9 minutes ago, OZinPattaya said:

Why is this a China vs. US issue? Where is Britain and the EU where China is concerned? Nowhere, that's where. While all you liberal Brits and Euros bitch about the Orange Man, the fact remains he's the only leader in the West doing a damn thing about China. No? I'm wrong? Then please enlighten me as to what Britain and the entirety of Europe has done in the last decade about the China threat.

 

The fact is China laughs in the face of Britain and Europe because, even combined, it's an utterly spineless group of nations, that probably couldn't even manage to intimidate a tribe of pigmies in the hinterland of South America.

China is laughing much more about Trump (Ok, they will soon laugh about UK. Nothing personal about UK, it will just be too small to have any significant weight). He's only posturing for his electorate and did not achieve anything re China.

 

A rational leader would have sought to find some common position on China, instead of starting a tariff war with the EU and insulting European leaders. A rational leader would also have not aborted the TPP and would have proposed an alternative to the Belt and Road initiative.

 

On top of it, Trump has no credibility in Europe, except maybe for the current Polish and Hungarian proto-dictators. Any sensible government following Trump? Are you kidding?

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites
11 hours ago, brianp0803 said:

China is likely going to delay and hope Biden gets elected. Unlikely Biden will be able to remain focused long enough to make a fair deal for America. Then China will continue on their path of world economic dominance. 

Standing up to China now will cause some short term pain. But nothing compared to the pain if China is allowed to do anything it wants for 8 more years.

 

 Suggesting playing nice with China so we feel no pain is the same as a mother telling her child to give the bully all you money and your Iphone so he doesn’t hurt you. But maybe some feel it is better to just pay the bully and not risk getting hurt.

Your comment is a perfect example of why it´s not possible to make a deal. Thank you for explaining.

  • Thanks 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...