It’s good to talk, but US-China tensions are far from over

Anna Jefferson
November 3, 2018

The Trump administration has imposed tariffs on $250bn of trade with China this year and has threatened to hit all imports from China, which were worth $505bn last year.

Jacob Parker, vice president of China operations at the U.S.

Hours later, however, the US Justice Department accused another Chinese firm of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China.

President Trump says that China wants to make a trade deal with the U.S.

Despite the promise offered by the Trump-Xi telephone call, the level of tension between the two nations was demonstrated just hours after it ended when the USA filed charges against Chinese technology firm Fujian Jinhua Integrated Circuit Co and its Taiwanese partner.

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"I know they want to make a deal", Trump said. These include outright cybertheft and forcing U.S. companies to hand over trade secrets as the price of admission to the Chinese market.

Trump said he will have dinner with President Xi Jinping of China at the November 30-December 1 summit of industrial and emerging market nations.

In their May telephone conversation, Xi and Trump set out to resolve their trade disputes, but the talks ended in stalemate and the first tariffs followed just weeks later.

The possible warming of relations comes after months of escalating tensions over trade that are threatening to spill into other areas of disagreement, including freedom of navigation in the South China Sea.

Xi told Chinese state media on Thursday that he was willing to meet Trump at the summit and hoped to promote a steady relationship. "President Xi Jinping also stressed that China-U.S. trade has always been serving as ballast and a stabilizer for China-US relations".

Despite reforms, PH 124th in ease of doing business
As a result, the country significantly improved its global ranking in this area to 53, from 82 past year . The latest ranking of 190 countries was topped by New Zealand followed by Singapore and Denmark .

The HSI and Shanghai were already buoyant after Beijing said it would introduce measures to kickstart the stuttering economy following a string of weak data, including growth at its slowest pace in nine years during the third quarter.

A Justice Department indictment targeted two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from USA semiconductor company Micron Technology Inc. "Those discussions are moving along nicely with meetings being scheduled at the G20 in Argentina".

On Wednesday, U.S. Secretary of State Mike Pompeo said China was probably Washington's biggest long-term security challenge and the United States was engaged in a "multi-pronged convince China to behave like a normal nation on commerce" and respect global law.

US-China talks have made little progress since May, when Trump put a stop to a deal that would see China buy more energy and agricultural goods to narrow the trade deficit. "We're doing better than we've ever done". Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1.

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