Senior U.S. and Chinese officials have pledged to meet in October to settle thei...
- Senior U.S. and Chinese officials have pledged to meet in October to settle their ongoing trade war but a lasting peace seems more elusive than ever.
Neither side has signaled it would shift from positions that led to the impasse in May, when Beijing revised a draft of the trade deal, removing references to changes in Chinese law. China wants the United States to lift those restrictions, trade deal or no, but Washington is lobbying other countries to reduce dealings with Huawei, and has threatened to blacklist other Chinese firms.
China, they said, offered to bring subsidies in line with World Trade Organization guidelines but had not detailed how it would do that. Things have escalated since. Those U.S. tariffs are now due to rise to 30% from Oct. 1, the 70th anniversary of the current Chinese state. Another $300 billion of Chinese imports face 15% U.S. tariffs, some of which began Sept. 1, with the rest to start Dec. 15.
China’s Liu, also the chief trade negotiator, on Thursday also spoke about downward pressure on the Chinese economy, but said Beijing had sufficient policy tools to deal with any difficulties.
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