Friday, 22 February, 2019

China appeals to U.S. to accept its technology progress

US sends 70 questions to WTO about China's subsidies Fresh round of China-U.S. high-level trade talks start in Washington, DC
Lloyd Bates | 01 February, 2019, 00:09

The two leaders declared a 90-day truce on tariff increases in December; U.S. tariffs on Chinese goods are set to rise from 10 percent to 25 percent on March 1. With a month to go before the deadline, it was unlikely that either side would put their best offers on the table in the next two days, said Erin Ennis, senior vice president of the U.S.

The world's two largest economies are trying to strike a deal on trade by early March to avoid a planned increase in the tariff rate being imposed on Chinese imports by the United States.

He also insisted "no final deal will be made until my friend President Xi, and I, meet in the near future to discuss and agree on some of the long standing and more hard points".

Federal Reserve Chairman Jerome Powell told reporters on Wednesday that prolonged trade talks with China could hurt the United States economy by damping business confidence.

The Trump administration opened high-stakes trade talks with China on Wednesday. Indeed, U.S. heavy equipment maker Caterpillar reported Monday that its China sales were slowing - news that sent its stock price tumbling.

Trump stated in a tweet that he wanted Beijing open the Chinese markets not only to financial services but also to "Manufacturing, Farmers and other U.S. businesses and industries".

President Donald Trump will also meet with Liu on Jan 31. "Without this a deal would be unacceptable!"

In a sign the sides are hopeful of making progress, the Harvard-trained Liu is due to meet Trump during this week's talks.

But Trump also may appear weakened after agreeing to end a five-week government shutdown without extracting any concessions from opposition Democratic lawmakers in a battle over funding to build a wall on the Mexican border.

Court battle over blown call begins
Referee Bill Vinovich did not call for pass interference and the Saints settled for a field goal to take a three-point lead. His arguments tracked positions taken in weekend briefs filed by National Football League lawyers.

This season’s flu shot far more effective than last year’s, researchers find
But the experts say it's not too late to act on something that can go a long way when it comes to avoiding this contagious virus. Henry admits the flu shot is not ideal by any means, but says it's certainly the best protection.

Onnoghen: Supreme Court Justices Boycott Tanko's Inauguration of Elections Tribunals
The president said the CCT ordered him to suspend him until the trial is over. The report had been feasted by the social media quoted Mrs.

Commerce Secretary Wilbur Ross said last week that the US and China are "miles and miles" away from a deal as he noted in a CNBC interview that the nations have "lots and lots of issues" to discuss.

The talks proceeded to a second day despite an unexpected event Wednesday.

After a few minutes, Lighthizer broke the silence with joking small talk about table positioning and appearing in photographs from the meeting between U.S.President Donald Trump and Chinese President Xi Jinping in Argentina previous year. Should the talks fail, U.S. import duties on $200bn in Chinese imports are due to more than double on March 2 - something economists say could help knock the wind out of the global economy's sails.

Trump has not yet directly involved himself in the current round of trade talks with the Chinese delegation, but assured his followers that so far things had gone well.

A crucial component of any progress in the talks, according to USA officials, is agreement on a mechanism to verify and enforce China's follow-through on any reform pledges.

Chinese officials deny that their policies coerce technology transfers. Those tariffs are on top of another $50 billion in USA levies imposed on China a year ago.

Chinese officials are resistant to the wholesale changes sought by the United States and the charges against Huawei - one of China's biggest and most successful technology firms - have added to the political tensions.

Commerce Secretary Wilbur Ross tried to temper expectations for any quick breakthrough in the talks, telling CNBC last week that the two sides are "miles and miles from getting a resolution".

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