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(Reuters) – China has tabled a six-year supply plan to boost imports from the United States to reconfigure relations between the two countries. according to a source close to the file.
With an increase of more than one trillion US dollars in imports, China would reduce to zero the positive balance of its trade balance, which stood at 323 last year. billion dollars according to one of the sources heard by Bloomberg, by 2024
The difference between this offer and that of China was not clear when the US President Donald Trump and the President Chinese Xi Jiping met in Buenos Aires in December. At the meeting, China proposed a commitment of $ 1.2 trillion in purchases, according to US Treasury Secretary Steve Mnuchin.
On January 9, Reuters announced that US officials had taken three days of negotiations with their Chinese counterparts in Beijing to demand more details on China's commitment to make major purchases of US goods. China has proposed similar, albeit modest, commitments at the Washington talks last May.
The report released by Bloomberg sparked a rally on Wall Street, during which the major stock indexes fourth week of gains, partly due to optimism that the US and China will reach an agreement to solve the trade war between the two largest economies in the world. Both parties have imposed reciprocal tariffs that hinder trade worth hundreds of billions of dollars.
Although some of the discussions generated increased interest in US products, US negotiators also focused on issues that would require further changes. in China. This would include the implementation of measures to end the misappropriation of US intellectual property and the reduction of subsidies to industry.
Approaching half of the 90 day truce of the trade war between the United States and China, At the meeting of Trump and Xi at the G20 meeting in Argentina on December 1 few details indicate that progress has been made. On Tuesday, a Republican senator said Robert Lighthizer, one of the US representatives at the trade talks, had told him that he had seen little progress on structural issues.
Data released on Monday show that China's largest exports declined in two years in December, and imports also declined, indicating less vigor in 2019 for the world's second-largest economy and further deterioration in global demand.
(Rishika Chatterjee's Report to Bangalore)
US Requires Periodic Checks on Chinese Trade Reforms
BEIJING / WASHINGTON (Reuters) – US calls for periodic revisions to trade reforms promised by the United States China as a precondition to the trade agreement – and can again resort to tariffs if they wish Beijing does not respect the agreement, sources familiar with negotiations on the end of negotiations
A persistent threat of tariffs hovering over trade in the world's two largest economies would mean that an agreement could not rule out the risk of investing in war-affected badets or businesses commercial. "The threat of pricing will not go away, even if agreed," said one of the three sources close to the talks that required anonymity.
Chinese negotiators were not satisfied with the idea of regular checks.
A Chinese source said that the United States wanted "periodic badessments", but that it was not clear how often.
"This sounds like humiliation," said the source. "But maybe both sides can find a way to get rid of the face of the Chinese government."
The US President Donald Trump's government has imposed import duties on Chinese products in order to pressure Beijing to accept a long list of high-performing requirements.
Changes in China's policies on intellectual property, technology transfer, industry subsidies and other trade issues are among the requirements.
A process of verification of conformity. is unusual in trade agreements and refers to the process used for economic sanctions, such as those imposed on North Korea and Iran.
More often than not, commercial charges are settled by the judiciary, World Trade Organization (WTO) or arbitration groups, as well as other Trump team has blamed the WTO not to have punished China for failing to implement the promised reforms in the area of trade.
The United States also criticizes the WTO dispute settlement process. and seek to promote changes within the organization.
Periodic reviews would be a possible solution to respond to the request of the US Trade Representative, Robert Lighthizer, for the ongoing verification of any pacts between the two countries, three sources close to the negotiations told Reuters.
Brazil's agri-food exports reach a record $ 101.7 billion in 2018 with China, the government said.
SÃO PAULO (Brazil)
The threat of tariffs would help maintain the continuity of reforms, sources said. Reuters) – Brazil's agri-food exports hit a record $ 101.7 billion in 2018, up 5.9% from 2017, according to a statement. the country's Ministry of Agriculture, highlighting China's appetite for domestic products
The previous annual record had been recorded in 2013, when the country had exported 99.9 billion US dollars. Brazil is the world's largest exporter of products such as sugar, coffee, orange juice and soy.
According to the Ministry of Commerce and International Relations, exports to China increased by $ 9 billion last year. The Asian giant is mainly focused on Brazilian soy, due to the trade war between Beijing and Washington.
In the soybean complex, grain was the main product exported, with a record 83.6 million tonnes in 2018. "The increase in the amount exported would not occur without strong Chinese demand . "
On the other hand, the trade in fresh beef reached a record level in the historical series started in 1997. Last year, 1 was exported (+ 12.2%), of which 322,300 tonnes in China.
Pasta also performed well in 2018, thanks to China's request, the ministry secretary said. 9033]! Function (f, b, e, v, n, t, s)
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