October 19, 2021

Ukraine Breaking News

Ukraine Breaking News | The Latest News In Ukraine

China: US must cancel tariffs – Roce Today

China said on Saturday that it pressured the United States to eliminate tariffs in talks between top trade officials from countries that Washington saw as a test of bilateral engagement among the world’s largest economies.

Virtual talks between US Trade Representative Katherine Tai and Chinese Vice Premier Liu He followed Tai’s announcement Monday that he would seek “frank” talks and keep China on its commitments under an agreement. “Phase 1” trade negotiated by former President Donald Trump.

“The Chinese side has negotiated the cancellation of tariffs and sanctions and clarified its position on China’s economic development model and industrial policies,” Chinese state news agency Xinhua said after the talks, held on Friday, Friday. Washington.

Tai intended to use the call, the latter of the two, to see if the bilateral engagement can address U.S. complaints about Beijing’s business and subsidy practices, a USTR official said.

“Ambassador Tai and Vice Premier Liu reviewed the implementation of the US-China Economic and Trade Agreement and agreed that the two sides will consult on some outstanding issues,” the USTR said in a statement.

Xinhua said the two sides “expressed their main concerns and agreed to resolve each other’s reasonable concerns through consultation.”

“Both sides agree to continue to communicate with an equal approach and mutual respect, and to create the conditions for the healthy development of economic and trade relations between the two countries and the recovery of the world economy,” he said.

The United States cites China’s “authoritarian” approach

In a briefing prior to the call, a senior USTR official said Tai would provide Liu with an assessment of China’s performance in implementing the Phase 1 deal, including promised purchases of U.S. assets that failed to meet targets. .

When asked about the shortcomings, Chinese Ambassador to the United States Qin Gang told Chinese TV Phoenix in an interview on Friday that Beijing has always kept its promises in state-to-state relations, the embassy said in a published summary. Saturday.

He said Beijing implemented the deal sincerely and consistently, despite the serious challenges posed by the coronavirus pandemic, including what it called “tangible steps” on protecting intellectual property and opening up the financial sector.

He accused Washington of simultaneously acting to impose barriers and restrictions on Chinese companies in the United States.

Tai would raise concerns about China’s “non-market” economic practices, the US official said.

“We recognize that Beijing is increasingly outspoken that it is doubling down on its authoritarian state-centered approach and is resilient to address our structural concerns,” the official said, adding that as a result, Washington will focus on improving the competitiveness of the United States. on market diversification and “limiting the impact of Beijing’s harmful practices”.

The Phase 1 agreement in January eased a long tariff war between the world’s two largest economies. It has largely focused on China’s promise to increase purchases of US agricultural and manufacturing products, energy and services by $ 200 billion over two years, along with increased safeguards for copyrights, trademarks and other forms of intellectual property.

The Trump administration has foreseen a Phase 2 negotiation to follow to address more difficult issues such as subsidies to state-owned enterprises and China’s strategic industrial policies.

The official said Tai’s future engagement with China will depend on “how China responds to tonight’s call” and declined to discuss possible next steps, but added that Tai will not seek to negotiate Phase 2.

[ https://rocetoday.com/chinaus-must-cancel-tariffs/?utm_source=rss&utm_medium=rss&utm_campaign=chinaus-must-cancel-tariffs https://d26toa8f6ahusa.cloudfront.net/wp-content/uploads/2021/07/30214746/a-quiet-place-part-2-bigs-16.pdf