President Donald Trump and Xi Jinping are embroiled in a long fight over a trade war, despite slowing domestic economies. FMTNews
US and China have added tariffs on billions of dollars on the others’ goods, broken good faith and traded public insults with each other over a trade war.
US officials have previously said that the resumption of talks would depend on China returning to the original May deal text, but there has been no sign that China has agreed to take that step.They are the removal of tariffs imposed in the trade war, reduction of the scale of US goods purchases that China will make to help reduce the trade imbalance between the two, and the need for a “balanced” text for any trade deal.
China for the first time discussed forced technology transfer as a widespread problem, US officials said then. For its part, the United States weakened demands China end industrial subsidies, which would require a change in China’s state-driven economic model. The United States wanted to keep some tariffs in place to ensure that China met the terms of the deal, but China demanded all tariffs be lifted immediately.
China, which slapped 5% tariffs on US crude oil Sept 1, could postpone additional tariffs due Dec 15. Many of China’s analysts believe Beijing will roll out more measures to boost the economy, minimising the impact of the trade war.China has said it would draft its own list of foreign companies that it deems had harmed Chinese companies.China has also indicated it may strike back through limiting rare earth supplies to the United States.
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