Tariff talks: USA and China keep on track for deal - Eire

Tariff talks: USA and China keep on track for deal - Eire

Chinese President Xi Jinping and U.S. President Donald Trump attend a welcoming ceremony November 9, 2017, in Beijing, China.

U.S. President Donald Trump looks on during a meeting with China's Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer (R) in the Oval Office at the White House in Washington, U.S., February 22, 2019.

Still, the tariffs on $200 billion worth of Chinese imports had been set to rise to 25% from the current 10% if no deal was reached by Friday.

Companies that responded to a questionnaire last week want an end to Chinese pressure to hand over technology, unequal enforcement of laws and other chronic problems, said Tim Stratford, chairman of the American Chamber of Commerce in China. American companies in China increasingly worry U.S.

Trump's decision to delay the tariff increase has been greeted with a mixture of relief and dread among USA industry groups and lawmakers, many of which are increasingly fed up with what they say is China's failure to live up to its World Trade Organization commitments.

The fight is over US complaints that Beijing steals technology or pressures companies to hand it over.

Shares of USA equipment maker Caterpillar and US aircraft maker Boeing, both sensitive to global trade, rose 1.97 percent and 0.67 percent, respectively. Lastly, how is the USA going to hold China accountable?

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Reuters reported that both sides were drafting MOUs on cyber theft, intellectual property rights, services, agriculture and non-tariff barriers to trade, including subsidies.

This change appears to apply at least through the planned summit with Chinese President Xi Jinping in late March. Also indications of more good news to come.

The comments appear to reflect support for US officials including Trade Representative Robert Lighthizer who want changes in industrial policy that Beijing's trading partners say violate its free-trade obligations.

Should Trump feel compelled to cut a deal, even if it means having to forgo some of the major sticking points on the list of USA priorities, that could pave the way for more oil and gas exports to China. -China trade talks have been one of the major drives of the market rally, experts noted. It lost 3.1 percent to settle at $55.48 a barrel in NY after Trump criticized rising oil prices in an early morning tweet.

According to data released by Tariffs Hurt the Heartland - a campaign backed by NRF - recent tariffs imposed by the administration cost US businesses $2.7 billion in November 2018 alone.

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

Thirty percent of the respondents said they had suffered a loss in China in 2018, up from 26 percent the year before, and 20 percent said they don't expect their market share in China to grow this year.

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