U.S. and China make "substantial" trade talk progress

US to delay further tariffs on Chinese goods

On Sunday, February 24th, Trump said via Twitter, "I am pleased to report that the USA has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues".

The American chamber of commerce in china wants a level playing field.

"The tariff postponement simply means that both sides realize that they are nowhere near a viable deal, and to avoid a showdown later this week, they need some breathing room", he said. Even in the interim, China could purchase more shipments as a show of good faith. American companies in China increasingly worry U.S.

Security officers stand guard outside a store for American lingerie retailer Victoria's Secret at an outdoor shopping street in Beijing, Tuesday, Feb. 26, 2019. Instead, China's chief negotiator, Vice Premier Liu He, has emphasised that the Chinese will reduce their large bilateral trade surplus by buying USA soy beans and natural gas.

In his February 5 State of the Union address, Trump said a China trade deal "must include real, structural change to end unfair trade practices, reduce our chronic trade deficit, and protect American jobs".

"If we don't address the underlying structural issues, we will have continued trade frictions", Stratford said in an interview.

Trump's dramatic decision in July to hike duties on Chinese imports split the United States business world.

Tariffs Hurt the Heartland also predicted that American workers would lose almost 1 million U.S.jobs, if tariffs on 200 billion USA dollars of Chinese imports increased from 10 to 25 percent. The import levies were slated to rise to 25 percent on Saturday from 10 percent, a move that would have significantly increased the trade war's economic costs.

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US business communities warmly welcomed the progress made in the latest round of trade negotiations between China and the United States, saying hopes are building up for a potential constructive deal by the two sides to relieve the burden of damaging tariffs.

The president did not set a new date for imposing the higher tariffs should the talks not yield results.

"I am pleased to report that the USA has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues", Mr Trump wrote.

Companies that responded to last week's questionnaire said they want guarantees Chinese anti-monopoly and other laws will be enforced equally against them and local competitors, according to Stratford. "A very good weekend for U.S. & China!" he added. "The majority are in favour". If Beijing continues its self-serving policies, the number of foreign companies that refrain from investing in China will increase.

The two sides remain far apart on demands by Trump's administration for China to end practices on those issues that led Trump to start levying duties on Chinese imports in the first place.

Shares of US equipment maker Caterpillar and USA aircraft maker Boeing, both sensitive to global trade, rose 1.97 percent and 0.67 percent, respectively. That sort of action completely undercuts the complaint by the USA, other governments and human rights groups that the rule of law requires an independent judiciary and not one subservient to the needs or whims of political elites.

The survey found that 89 percent of businesses reported a pessimistic view on the world's most important bilateral trade relationship. She expects relations to "swing between compromise and conflict".

"A growing number of companies are hedging their bets", the report said.

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