March 8, 2021

Trump confirms that negotiations with China on trade "have already begun"

The president of the United States, Donald Trump, confirmed on Monday that negotiations with China to end the trade war between the two powers "have already started", two days after the meeting with his Chinese counterpart, Xi Jinping.

"They have already started," Trump replied to reporters when asked about the negotiations with Beijing after agreeing with the Chinese government a new truce in trade disputes, for which Washington stopped the imposition of new tariffs.

The new round of negotiations has begun through telephone calls, waiting to decide where the next meetings between senior executives of both executives will take place.

The agreement reached by Trump and Xi during the G20 summit in Osaka (Japan) meant that the US has agreed to allow US companies to sell products to Huawei technology.

Trump had threatened before the meeting with imposing tariffs of between 10 or 25% to about 325,000 million dollars in Chinese imports, which had alarmed international markets and numerous companies, who feared price increases in some of the products more quoted by consumers.

The agreement with Xi implies that those levies are off the table for now, but the US it maintains its tariffs on Chinese products worth 250,000 million dollars, and China keeps its liens on US imports for 110,000 million dollars.

The US measures against Chinese technology Huawei focused much of the negotiations in Osaka, since the United States vetoed the sale of components to that Chinese technology this year and maintains an extradition order against its financial director, Meng Wanzhou, who was detained in Canada.

The US Treasury also included Huawei in a blacklist in mid-May that prevents the country's companies from providing them with original components without the approval of the government, suspecting that the Chinese company, leader in the development of 5G technology, could take advantage of those systems for espionage.

As a result, companies such as Google announced that they stopped providing technology services to the Chinese company, a situation that unsettled millions of mobile phone users in the world in the face of uncertainty about future updates of the Android operating system.

The tensions between Washington and Beijing have their roots in the imbalance of the trade balance in favor of China, which exports 419,000 million dollars more than what imports from the United States.

. (tagsToTranslate) Trump (t) confirms (t) negotiations (t) China (t) trade

Source link