Mexican Media Brands
China: No Trade Deal Unless U.S. Drops Tariffs
China reiterates that it won’t agree to a trade deal with the U.S. unless it includes an end to punitive tariffs imposed by the Trump administration.
#economics
Share
China reiterates that it won’t agree to a trade deal with the U.S. unless it includes an end to punitive tariffs imposed by the Trump administration.
White House officials have indicated that the U.S. wants to retain some tariffs as a way to enforce a deal. But China says talks will “go backward again” if U.S. negotiators insist on doing so, Bloomberg News reports.
When talks were suspended in May, China made the same demand as a condition for resuming negotiations. China also insists that any hikes in its purchase of U.S. goods must be in line with actual demand. It further asserts that an agreement must be grounded on equality and mutual respect.
Earlier this week President Donald Trump indicated that any trade deal with China should favor the U.S. He also claimed that China President Xi Jinping promised “tremendous” increases in the purchase of American agricultural goods when the two leaders met in Japan last weekend.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.