Offbeat Trump doubts China trade negotiations will succeed

21:40  17 may  2018
21:40  17 may  2018 Source:   cnbc.com

US-China trade talks: Round 2 to take place next week

  US-China trade talks: Round 2 to take place next week Liu He, the Chinese president's top economic adviser, will head to Washington after no breakthroughs emerged from talks last week in Beijing.Chinese President Xi Jinping's top economic adviser, Liu He, will visit Washington next week to continue discussions with President Donald Trump's economic team, the White House said Monday.

Beijing Says Negotiations Impossible As Trump Slams ‘STUPID TRADE ’ Relationship With China . Troubled by China ’s retaliatory actions, Trump threatened China with 0 billion in additional tariffs, causing outrage in Beijing.

And U.S. officials say there's no doubt China is an unreliable business partner. The U.S. Department of State has called the country an "authoritarian state," and Trump has said that the country is cheating the U.S. on trade deals.

President Donald Trump said Thursday that he doubts high-stakes trade negotiations with China will succeed.

"Will that be successful? I tend to doubt it," the president said during an appearance with NATO Secretary-General Jens Stoltenberg. "The reason I doubt it is because China has become very spoiled. The European Union has become very spoiled. Other countries have become very spoiled, because they always got 100 percent of whatever they wanted from the United States."

"But we can't allow that to happen anymore," Trump added.

A Chinese delegation is currently in Washington taking part in talks with top Trump administration officials. The meetings follow a separate round of negotiations in Beijing earlier in the month.

Trump, Xi Ease Trade Tensions With ZTE, Qualcomm Reversals

  Trump, Xi Ease Trade Tensions With ZTE, Qualcomm Reversals Chinese Vice Premier Liu He plans to fly out Tuesday for talks with the U.S., two people familiar with the situation said, signaling progress on trade tensions after President Donald Trump offered a lifeline to beleaguered telecom equipment maker ZTE Corp. Liu, who is President Xi Jinping’s top aide for economic matters, will be accompanied by Commerce Minister Zhong Shan, along with deputy ministers from the commerce, finance and foreign affairs ministries, as well as the central bank, one of the people said. Both asked not to be identified because the schedule isn’t public.

I think that trade wars are deflationary if a trade war stifles worldwide sales. Those who are hoping a Trump trade war will lead to an American industrial revival ought to look at First Solar’s factory in Toledo, Ohio which is fully automated and underpricing China …

Steel and aluminium are poor targets for an American trade war. True, they fit in with US President Donald Trump ’s old-economy, blue-collar support, but they miss the fundamental issue of seeking to rebalance trade with China .

The U.S. and China hope to bring down escalating tensions that threaten to start a trade war and damage the world's two largest economies. U.S. stock markets dipped after Trump's comments, as observers hope trade talks will avoid major tariffs proposed by both countries.

On Thursday, the president contended China "ripped off" the U.S. with its trade practices. He claimed Beijing's trade practices sparked "an evacuation of wealth like nobody has ever seen before."

The president has long argued that China's massive trade surplus with the U.S. constitutes a trade abuse. He has also sought to punish Beijing for alleged intellectual property theft by Chinese companies.

Tensions between Peter Navarro, Trump's trade advisor and a China hawk, and Treasury Secretary Steven Mnuchin have complicated this week's talks. Navarro has sought a tough response to China, which has led him to bump heads with colleagues in the Trump administration.


U.S.-China trade deal 'too hard to get done,' Trump says .
U.S. President Donald Trump on Wednesday signaled a new direction in U.S. and China's trade talks, saying the current track appeared "too hard to get done" and that any possible deal needed "a different structure."​Shipping containers sit on a container ship operated by China Shipping Container Lines Co. at the Eurogate Container Terminal in the Port of Hamburg in Hamburg, Germany.

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