US, China Still 'Very Far Apart' on Trade - US Ambassador

US, China Still 'Very Far Apart' on Trade - US Ambassador

US, China Still 'Very Far Apart' on Trade - US Ambassador

According to IDC data, ZTE sources more than 40 percent of its components from the US, creating a multibillion-dollar revenue stream for suppliers like Qualcomm and Intel.

"It's an issue of high concern for China that's been raised with the US government and with our administration at various levels", he said.

"A reversal of the ZTE decision could temporarily tamp down trade tensions by allowing the Chinese to make concessions to the US without losing face", said Eswar Prasad, a professor of trade policy at Cornell University.

President Donald Trump has threatened tariffs on imports of Chinese goods, and China has threatened to retaliate with duties on U.S. products, including food items such as pork, beef and soybeans.

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Earlier this month, the United States presented China with a list of demands that tackle allegations of intellectual property theft and other trade policies Washington considers unfair, which had sparked the initial "trade war" concerns as the two countries were imposing tens of billions of dollars in tariffs on each other.

News agency Reuters is reporting that, in prepared comments sent to US Trade Representative Robert Lighthizer, Devry Boughner Vorwerk, Cargill's vice president of global corporate affairs, said: "History has shown that the use of tariffs is unsuccessful in achieving lasting solutions - the current challenges between the United States and China are no different".

Trump appears willing to work with China to help save ZTE - a move that could give him more leverage in ongoing trade discussions.

Trump is seeking to cut the chronic US trade deficit by $100 billion and gain concessions over the policies that foreign companies say force them to share technology in order to gain market access.

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THE QUOTE: "There's a number of data releases that will grab traders' attention today and could determine whether we see an early rebound in stock markets. We want to see these things happen sooner than later", he said at a conference in Tokyo. Trump has proposed imposing tariffs on up to $150 billion in Chinese products. Those could go into effect in June following the completion of a 60-day consultation period, but activation plans have been kept vague.

"The President's Tweet underscores the importance of a free, fair, balanced, and mutually beneficial economic, trade and investment relationship between the United States and China".

"As an American, I do not want some Chinese company spying on me", Colbert said.

Increasing U.S. exports of liquefied natural gas could also be an area the two countries could agree on as bilateral trade talks resume in Washington this week, he said. Time will tell, but it is still a volatile situation, and companies with big exposure in China should be anxious, as should their investors.

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"Trade negotiations are continuing with China".

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