Just recently President Trump visited Beijing for trade discussions.
- both sides reached a consensus on some trade issues while acknowledging major disagreements on some matters
- both sides outlined a series of tough demands
- both sides agreed to keep discussions on the table
We picked up a few key points in an article by Bloomberg in American Journal of Transportation.
The United States requests from China:
- to reduce support for high-tech industries, allow U.S. companies non-discriminatory access in China
- to cut the trade deficit by at least $200 billion by the end of 2020 from 2018
- to avoid any retaliation
- to drop World Trade Organization cases
- to agree to quarterly reviews of its progress in meeting targets
China requests from the United States:
- to stop its 301 investigation into Chinese intellectual property abuses
- to drop planned 25 percent extra tariffs on Chinese goods
- to end discrimination against Chinese companies in national security reviews
- to open its e-payment market and approve China International Capital Corp.’s application for a financial license
After these discussions, both countries have agreed to continue future discussions, but “any deal appears to be a long way off,” according to a Bloomberg article posted in American Journal of Transportation.