US And China Still Deeply Divided As Trade Talks Begin

Critical US-China trade talks enter second day in Beijing

Nothing but silence still from US-China trade talks

"It seems to work for them".

Trump's stated demands - namely, that China reduce the country's trade surplus to the U.S.by $100 billion and that the country end its plan $300 billion plan to build a high-tech sector known as Made in China 2025 - will likely be dismissed out of hand Beijing. But on numerous most significant trade issues, it remains to be seen how far the Administration is willing to go. The initiative aims to upgrade the country's domestic manufacturing base with more advanced products.

The US government is also aiming to make it harder for China to get hold of key technology by buying up American companies. This has benefited the United States over the years, by strengthening its financial system and currency.

Economists have faulted the administration's focus on reducing trade deficits with specific countries, since it is not a good measure of the benefits of the relationship.

"It is not my objective to change the Chinese system", Lighthizer said. The Washington trade lawyer has long expressed views that China has failed to live up to obligations that came with joining the World Trade Organization in 2001.

As for the USA, its trade representative (USTR) has closely monitored China's WTO compliance since the country joined in 2001.

But Lighthizer said Trump was right that "deficits do matter", adding that the imbalance with China was "completely lopsided", which made it fair to ask if their policies contributed to the increase. China has already announced related concessions this year, including allowing us auto companies access to the Chinese market without a local partner. He has sought a larger role in the administration's dealings with China. But even if China wanted to set more ambitious goals, by what right could the USA block it from attempting to do so?

"On preparation, my guess is that the Chinese side will be much better prepared than ours, in part because they will have mastered the record of US-China trade negotiations".

Experts say China's promises of greater access often turn out to be hard for foreign companies to take advantage of because of delays or onerous requirements they need to meet. Yet the report fails to identify those interventions, which is not surprising, given that the state council has not yet specified the policy tools it will use.

These policies, along with Made in China 2025, have caused concern among United States lawmakers that China is using technologies originally developed in the USA to undermine American security.

This reading is reinforced by the national security strategy that the Trump administration released last December.

May 1, 2018-The Trump administration's proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce USA gross domestic product by almost $3 billion and destroy 134,000 American jobs, according to a new study released today by the National Retail Federation and the Consumer Technology Association.

One hopes that the war drums will be silenced through negotiation and mutual concessions. Chinese companies and researchers need access to Western markets and technology, especially USA technology, to continue to advance.

The foreign business community in China sees such reforms as long overdue and potentially too late: domestic competitors have used decades of being sheltered from foreign competition to establish dominant market positions at home while expanding overseas.

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