Tuesday, April 24, 2018 | ePaper

US, China trade talks sputtering at 100 day deadline

  • Print


Xi Jinping and Donald Trump had agreed to a 100-day plan for trade talks earlier in April.

Reuters, Shanghai :
Bilateral talks aimed at reducing the US trade deficit with China have yielded some initial deals, but US firms say much more needs to be done as a deadline for a 100 day action plan expires on Sunday.
The negotiations, which began in April, have reopened China's market to US beef after 14 years and prompted Chinese pledges to buy US liquefied natural gas. American firms have also been given access to some parts of China's financial services sector.  
More details on the 100-day plan are expected to be announced in the coming week as senior US and Chinese officials gather in Washington for annual bilateral economic talks, rebranded this year as the 'US-China Comprehensive Economic Dialogue.'
"We hope to report further progress on the 100-day deliverables next week," a US Commerce Department spokesman said on Saturday. "That will be the basis for judging the extent of progress."
The spokesman declined to discuss potential areas for new agreements since a May 11 announcement on beef, chicken, financial services and LNG.
Earlier in April, when Chinese President Xi Jinping met US President Donald Trump for the first time at his Florida resort, Xi agreed to a 100-day plan for trade talks aimed at boosting US exports and trimming the US trade deficit with China.
The US goods trade deficit with China reached $347 billion last year. The gap in the first five months of 2017 widened about 5.3 percent from a year earlier, according to US Census Bureau data.
"It is an excellent momentum builder, but much more needs to be done for US - China commercial negotiations to be considered a success," said Jacob Parker, vice president of China operations at the US-China Business Council (USCBC) in Beijing.
There has been little sign of progress in soothing the biggest trade irritants, such as US demands that China cut excess capacity in steel and aluminium production, lack of access for US firms to China's services market, and US national security curbs on high-tech exports to China.
The Trump administration is considering broad tariffs or quotas on steel and aluminium on national security grounds, partly in response to what it views as a glut of Chinese production that is flooding international markets and driving down prices.
North Korea has cast a long shadow over the relationship, after Pyongyang tested what some experts have described as an intercontinental ballistic missile on July 4.
Trump has linked progress in trade to China's ability to rein in North Korea, which counts on Beijing as its chief friend and ally.
"Trade between China and North Korea grew almost 40 percent in the first quarter. So much for China working with us but we had to give it a try!" Trump said on Twitter after the North Korean missile test.
American beef is now available in Chinese shops for the first time since a 2003 US case of 'mad cow' disease, giving US ranchers access to a rapidly growing market worth around $2.6 billion last year.
More beef deals were signed during an overseas buying mission by the Chinese last week.
"There are hopes there will be even more concrete results," Chinese Foreign Ministry spokesman Geng Shuang told a daily news briefing in Beijing on Friday. He did not elaborate.

More News For this Category

Pakistan Pashtun rights movement grows, defying military

Pakistan Pashtun rights movement grows, defying military

AFP, Peshawar :Pakistan's powerful military, long accused by outsiders of backing Islamist militant groups, is facing an unexpected challenge-a charismatic young Pashtun man who won't keep quiet.Fellow Pashtuns have

China karaoke bar fire kills 18 in Yingde

China karaoke bar fire kills 18 in Yingde

BBC online :A fire at a karaoke bar in the southern Chinese city of Yingde has killed 18 people and left five others injured.The fire broke out inside the

Dinner over, Trump, Macron get down to business

Dinner over, Trump, Macron get down to business

AFP :After a friendly dinner at a US landmark, US President Donald Trump and his French counterpart Emmanuel Macron were to get down to business Tuesday on divisive issues

Yemeni family ‘hopeless’ after disabled daughter denied US visa

Yemeni family ‘hopeless’ after disabled daughter denied US visa

Al jazeera :Najeeb al-Omari's eyebrows furrow as he sits on the front steps of his home in the province of Ibb in central Yemen, describing how his daughter, who

Armenia unites to mark Ottoman massacres after leader quits

Armenia unites to mark Ottoman massacres after leader quits

AFP :Armenians on Tuesday marked the anniversary of the massacre of 1.5 million of their kin by Ottoman forces in 1915, in a show of unity a day after

Russian lawyer questions Mueller`s tactics

Russian lawyer questions Mueller`s tactics

AP, Moscow :A Russian lawyer who discussed sanctions with Donald Trump Jr. in New York during his father's 2016 campaign for the U.S. presidency said Sunday that special counsel

Trump`s travel ban faces US SC showdown

Reuters, Washington :The first big showdown at the U.S. Supreme Court over President Donald Trump's immigration policies is set for Wednesday when the justices hear a challenge to the

News In Brief

Xi to meet Modi this weekAFP, BeijingBeijing (AFP) - Chinese President Xi Jinping and Indian Prime Minister Narendra Modi will meet in central China this week, Beijing announced Sunday,

Child rape case heightens India`s Hindu-Muslim divide

Child rape case heightens India`s Hindu-Muslim divide

AFP, Jammu :The internet is being cut for hours on end in Jammu as authorities try to halt protests that have grown in the Kashmir winter capital since the

S Korea halts border broadcasts ahead of Kim summit

S Korea halts border broadcasts ahead of Kim summit

AFP, Seoul :South Korea's military on Monday switched off giant loudspeakers blasting messages towards the North's soldiers at the border, in a conciliatory gesture ahead of Friday's historic inter-Korea