Saturday, 22 September, 2018

US, China Discussing Deal on ZTE, Agricultural Tariffs

US, China Discussing Deal on ZTE, Agricultural Tariffs US, China Discussing Deal on ZTE, Agricultural Tariffs
Charlie Simmons | 15 May, 2018, 22:33

The companies are controlled by the Communist Party of China and could be used for operations to compromise USA communications infrastructures, the report said.

He added that US President Donald Trump would like to see a "dramatic increase" in food exports to China. They have been making hundreds of billions of dollars a year from the USA, for many years.

China is likely to offer increasing its purchase of aircraft, autos, natural gas and some agricultural commodities, Dan Ikenson, director of the Cato Institute's Herbert A. Stiefel Center for Trade Policy Studies, told FOX Business.

Expanding on Trump's message, White House deputy press secretary Lindsay Walters said in a statement, "The President's tweet underscores the importance of a free, fair, balanced, and mutually beneficial economic, trade and investment relationship between the United States and China".

The foreign ministry said Vice Premier Liu He will visit the U.S. from Tuesday to Saturday for consultations with U.S. Treasury Secretary Steve Mnuchin.

But he offered an olive branch in calling on US officials to revisit penalties for Chinese company ZTE Corp. for flouting USA sanctions on trade with Iran and North Korea. China, for its part, has stated that it is willing to buy more American goods and services to help reduce the trade deficit.

FBN's Connell McShane and Susan Li on the Trump administration's efforts to reduce the USA trade deficit with China and concerns of a potential recession by 2020.

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The comment took USA trade and security officials by surprise and prompted the president to say in a later tweet that ZTE buys a large amount of parts from US companies and the concession was part of "a larger trade deal with China and my personal relationship with President Xi".

In retaliation, China announced its decision to impose 25 per cent tariffs on a total of 106 goods imported from the US.

It relies on United States microchips and other components for 25-30% of the equipment it produces.

It is no secret that the US has a huge trade deficit with China.

As part of this, they also entered into an agreement with the U.S. government.

President Donald Trump has stepped into the row surrounding the seven year ban on USA companies supplying Chinese telecommunications maker ZTE with software and components. "But be cool, it will all work out!"

Senate Democrats also criticized the president for appearing to give in to Chinese pressure on the ZTE sanctions. "You should care more about our national security than Chinese jobs", Schiff said in a tweet directed at Trump.

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