Posted by: 23-01-2019, 07:47
Trump reported bad news for China
Solving the trade imbalance problem will not help to overcome differences between countries.
A photo: AFP
US President Donald Trump is not going to give up his tough stance towards China, which, according to the White House owner, must conduct structural reforms to conclude a trade agreement with Washington. This was reported on Wednesday by Reuters, referring to advisers to the head of state.
«At this stage, the problems causing our concern have not been resolved,” said one of the agency’s interlocutors. According to him, the Trump administration is focused not only on the problems of trade imbalance, but also on deeper issues of the structure of the Chinese economy.
On January 18, Bloomberg reported that, according to its sources, China proposed that the United States increase imports of American goods to eliminate the negative balance of the United States in trade with China as part of resolving a trade dispute between the two countries.
Reuters notes that this proposal does not seem to help in overcoming disagreements between the countries, since the dissatisfaction with the American administration is caused not only by the trade deficit.
According to the head of the National Economic Council of the White House, Lawrence Cadlow, for Trump, the priority is the issue of theft of intellectual property, which the United States accuses China, as well as the practice in which the authorities of an Asian country as a condition of access of their products to their market from foreign investors transfer the rights to use their technology to Chinese partners. Another reason for criticism from Trump is the restriction of property rights for foreign investors in some areas of the Chinese economy.
«The president has talked many times about how important this is and we are not going to back down”, said Cadlow.
Since January 1, Beijing and Washington hold 90-day talks, during which regular meetings are held between representatives of the Chinese and American trade departments. The first round of direct dialogue on these issues took place on January 7–9 in China. The US is demanding that China pursue reforms that will make the Chinese market more open to foreign goods, and will also establish fair conditions for competition from Washington’s point of view.
Recall, China supported the sanctions against Russia.
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