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Chinas demands for trade reforms unlikely to spur major breakthrough

16 November 2018

Lighthizer has played a key role in negotiating trade deals with South Korea, Canada and Mexico.

The back-and-forth on trade comes ahead of an expected meeting between President Trump and Chinese President Xi Jinping on the sidelines of a G-20 Summit in Argentina at the end of November and in early December. "That'll set if there is going to be a real framework", he said at the ribbon-cutting for Cheniere Energy Inc.'s new liquefied natural gas export terminal in Corpus Christi, Texas.

Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He spoke by phone on Friday, a spokesperson for the agency confirmed on Tuesday, an effort to restart trade discussions ahead of the two leaders meeting, which Trump has boasted would be a "good meeting".

The offer was first reported by Bloomberg News. "If it was just tariffs, I think we could work it out very, very, very quickly". "We can't tolerate abuses of that sort", he said.

U.S. Trade Representative Robert Lighthizer has told some industry executives that another round of tariffs on Chinese imports has been put on hold as the two nations pursue talks, the Financial Times reported on Thursday, citing an unnamed person familiar with the situation.

"If and when there is a deal, it will be on President Donald J. Trump's terms - not Wall Street terms", Navarro, a former economics professor, said during a speech at the Center for Strategic and International Studies in Washington. The EU has already imposed tariffs on $3.4 billion in American products - from whiskey and motorcycles to peanuts and cranberries - in retaliation for the tariffs on European steel and aluminum. The biggest of, which is levied on Chinese imports worth $200 billion, due to increase to 25 percent in January, in case no agreement is signed before that time.

He said that China also needs to make concessions on other issues, including in respect of intellectual property theft, restrictions of access to Chinese markets, compliance with global rules and standards, limiting the freedom of navigation in worldwide waters.

Pence also said China must offer concessions on intellectual property theft, forced technology transfer, restricted access to Chinese markets, respect for worldwide rules and norms, and efforts to limit freedom of navigation in global waters, among other issues.

He believes that this is the best (if not last) chance to China to avoid the scenario of the cold war with the United States.

Vice-President Mike Pence told The Washington Post newspaper the USA could make deals with China at the G-20 but Beijing must offer concessions on technology transfer, theft of intellectual property and other issues. They pose a dilemma for US importers who must decide whether to absorb the higher cost of the goods or pass it on to consumers, and some exporters are hurting from China's retaliatory tariffs.

Chinas demands for trade reforms unlikely to spur major breakthrough