BEIJING — Expectations for a U.S.-Chinese trade truce to avert an American tariff hike rose Friday, though Beijing said any settlement to their costly, long-running conflict must be “mutually beneficial.”
— Expectations for a U.S.-Chinese trade truce to avert an American tariff hike rose Friday, though Beijing said any settlement to their costly, long-running conflict must be “mutually beneficial.”
A “deal is close,” said Myron Brilliant, the U.S. Chamber of Commerce’s head of international affairs, who was briefed by both sides. The deal awaits final approval from President Donald Trump. Trump did not comment to reporters on the talks late Thursday when returning to the White House. “Negotiations must be based on the principles of equality and mutual respect,” said the spokeswoman, Hua Chunying, repeating Beijing’s long-held position. “The deal must be mutually beneficial, a win-win.”The Dow Jones Industrial Average surged 220 points, or 0.8% on Thursday. In Friday trading, Japan’s Nikkei 225 index jumped 2.6% while the Shanghai Composite index advanced 1.5%.The two sides are negotiating an interim “Phase 1” agreement to help resolve their sprawling trade dispute.
The administration alleges — and independent analysts generally agree — that China steals technology, forces foreign companies to hand over trade secrets, unfairly subsidizes its own firms and throws up bureaucratic hurdles for foreign rivals. On Sunday, the administration was set to start taxing an additional $160 billion in Chinese imports, a move that would extend the sanctions to just about everything China ships to the United States.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The US-China trade war: where are we now?
Read more »
China says 'phase one' trade deal reached with U.S.China announced Friday, December 13, a 'phase one' trade deal with the United States that includes a progressive rollback of tariffs and the protection of intellectual property rights, but the two sides have yet to sign the agreement.
Read more »
US and China near deal that would suspend planned tariffsWASHINGTON - The Trump administration and China are close to finalizing a modest trade agreement that would suspend tariffs that are set to kick in Sunday, de-escalating their 17-month trade
Read more »
EU flexes trade muscles after US cripples WTO
Read more »
Authorities seize 12-K kilos of banned frozen duck, chicken from ChinaMore than a thousand boxes of frozen poultry products from China were seized from a container van at Barangay San Rafael Village, Navotas City Wednesday evening.
Read more »
Customs, agri dept to probe smuggled frozen meat from China
Read more »