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China Pledges to Ease Market Access for U.S. Businesses
China’s Premier Li Keqiang says the country is willing to lower barriers to avoid a trade war with the U.S.
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China’s Premier Li Keqiang says the country is willing to lower barriers to avoid a trade war with the U.S.
The Trump administration wants China to immediately slash its $375 billion trade surplus with the U.S. by $100 billion.
The U.S. also has demanded that China reduce its 25% import taxes on U.S. cars, buy more U.S. computer chips, enable American companies to own controlling interest in Chinese companies and drop rules that force companies to give up trade secrets for access to the Chinese market, sources tell The Wall Street Journal.
Li says the two countries should “adopt a pragmatic and rational attitude.” They have been swapping belligerent comments about each other’s trade policies in public but are negotiating in private, Reuters reports.
The Financial Times reports that China has offered to increase the $2.6 billion in U.S. semiconductors it bought last year by reducing purchases from Taiwan and South Korea. The London-based newspaper says China also hopes to finalize rule changes by May that would enable financial groups to acquire majority equity in Chinese securities firms.
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