US Mulls Currency Accord With China in Partial Trade Deal

Negotiators heading to Washington for talks aren't optimistic about securing a broad agreement that would end the trade war between the two nations for good said an unnamed official

Negotiators heading to Washington for talks aren't optimistic about securing a broad agreement that would end the trade war between the two nations for good said an unnamed official

Without significant progress during the talks, US President Donald Trump is set to hike the tariff rate on US$250 billion worth of Chinese goods to 30 per cent from 25 per cent next Tuesday.

Liu is still set to leave on Friday evening, CNBC said, citing a US official.

If negotiations break down again, by December 15, almost all Chinese goods imports into the United States - more than $500 billion - could be subject to punitive tariffs in the dispute that erupted during U.S. President Donald Trump's time in office.

On Wednesday, Bloomberg reported that China could up its buying of American agricultural goods, while sources close to China told the news organization that it would be open to forming a partial trade deal with the USA, if tariffs are suspended.

One of the stumbling blocks was the issue of forced technology transfers, which the Chinese delegation refused to broach, SCMP reported.

"In my opinion China wants to make a deal more than I do", Trump added.

"I've never seen China respond with concessions to someone throwing down the gauntlet in this manner", said Scott Kennedy, a China trade expert at the Center for Strategic and International Studies in Washington.

Some observers expect the U.S. and China will reach a partial agreement on some issues.

At the same time, a fight over free speech between China and the US National Basketball Association (NBA), triggered by a tweet by the Houston Rockets general manager backing Hong Kong's protesters, has underscored the tensions.

The report cited unnamed people familiar with the matter.

For more than a year, the United States and China have been locked in a trade war on issues such as cybersecurity, regulations, intellectual property, subsidies and tariffs.

Notícias recomendadas

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.