Mon. Mar 30th, 2020

Trump will receive Chinese Vice Premier Liu to deal with the trade pact

US President Donald Trump announced today that he will meet with Chinese Vice Premier Liu He Friday morning at the White House to discuss bilateral trade tensions, just a week before a new rise in tariffs on Chinese imports.

"Great day of negotiations with China. They want an agreement, but do I want it?" Trump said on Twitter.

"I will meet with the vice premier tomorrow at the White House," he added.

Trump's words come minutes after the negotiating leaders of both sides began a new round of talks in Washington.

"Both parties will try to move forward on negotiations between lower-ranking officials in the past few weeks. Topics for discussion will include the forced transfer of technology, intellectual protection rights, services, non-tariff barriers and guarantees," said the presidential spokeswoman, Stephanie Grisham, in a statement.

Together with Liu, the Foreign Trade representative, Robert Lighthizer, and the Secretary of the Treasury, Steven Mnuchin, will be on the negotiating table.

The meeting takes place days before the new tariff increase, scheduled for October 15, from 25 to 30% to Chinese imports worth 250,000 million dollars.

Last September 1 took place the last episode of the commercial war that confronts the United States. and China with the entry into force of the 10-15% increase on Chinese imports worth 112,000 million dollars

In retaliation, China launched 5 to 10% levies on US products valued at $ 75 billion.

Trump has warned that if he is re-elected in the 2020 presidential election, he will be "much tougher" when negotiating a trade agreement and that "in the meantime, the supply chain" of the Asian giant will "crumble."

Wall Street received with optimism the announcement of a meeting between Trump and Liu, and the Dow Jones of Industrials registered an increase of 0.84%, before the round of trade negotiations between the United States and China and from which the markets expect solutions to a tariff conflict that lasts months.

Trade tensions between the two largest world economies, unleashed after Trump's arrival at the White House in 2017, go beyond bilateral relations and have profound global consequences.

In its latest global growth forecasts, released in July, the International Monetary Fund (IMF) lowered its projections of global expansion to 3.2% this year, one tenth less than in April weighed down by doubts about the possible resolution of this dispute .

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