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USA and China still "very far apart" on trade, says U.S. ambassador

15 May 2018

"Everyone is looking for some kind of deal", he told Politico in an interview, adding that no agreement had been reached yet.

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. "It's not clear, of course, if he's planning to really reverse it or think of a solution in a larger context, but it is something that is just out of the norm", said Amanda DeBusk, the chair of the global trade and government regulations practice at the firm Dechert, LLP.

"We think highly of the USA statement regarding ZTE's case".

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. Trump has proposed imposing tariffs on up to $150 billion in Chinese products. Commerce Secretary Wilbur Ross said much the same on Monday.

President Donald Trump has insisted that the countries reduce the $370 billion trade deficit with China by $200 billion. In retaliation, Beijing is threatening tariffs on $50 billion in USA products. "Stay tuned!" Trump tweeted on Tuesday.

"We'd like to see China being just as open as the United States", Branstad said. China counterpunched with tariffs on a range of US products, including bourbon and blue jeans.

The U.S. flag is seen in the wine section of a supermarket in Beijing, China, April 5, 2018.

Misuderstandings over, Modi says in Nepal visit
The prime minister also inaugurated a Rs 6,000-crore Arun III project which was expected to generate 900 MW of power. Earlier, in the day Modi was conferred with the guard of honour at a ceremonial function at Nepal Army Pavilion.

Negotiators from the USA and China are scheduled to meet in Washington on Monday, where, after months of trade tensions, Beijing is said to be open to purchasing a wider array of US goods and services.

In March, Washington introduced a 25 per cent tariff on imported steel and a 10-per cent tariff on imported aluminium.

"The Company and related parties are actively communicating with the relevant USA government departments in order to facilitate the modification or reversal of the Denial Order by the USA government and forge a positive outcome in the development of the matters", said ZTE.

ZTE had warned last month that the ban on United States firms supplying it with components threatened its very survival.

Mr Trump's words could help to ease tensions as the world's two largest economies resume talks after months of tariff threats.

Increasing U.S. exports of liquefied natural gas could also be an area where the two countries could agree, he said. Too many jobs in China lost.

USA and China still