[ad_1]
US. The authorities are debating the reduction of tariffs on imports from China in order to calm the markets and to induce Beijing to make bigger concessions in a trade battle that has shaken the world's economies.
The Secretary of the Treasury has proposed to lift all or part of the duties. Steven Mnuchin in a series of strategy meetings, according to relatives of the internal debate. According to them, the goal is to advance trade negotiations and to obtain China's support for longer-term reforms.
But Mnuchin faces resistance from US Trade Representative Robert Lighthizer, who fears that any concession may be perceived as a sign of weakness,
Debate is taking place as trade officials attempt to find the best way to obtain concessions from China. He has not yet reached President Trump and the results of the talks are not predictable.
While companies shipping goods from China to the United States face higher fees, some have developed creative techniques to avoid paying them. Steven Russolillo from the WSJ goes on the field to explain how some companies are avoiding import duties.
In previous discussions with China, Mr. Trump sided with Mr. Lighthizer on the subject of tariffs rather than Mr. Mnuchin. But this time, the president said he wanted an agreement – and urged Lighthizer to submit one, according to people familiar with the talks.
The United States and China seek to resolve their trade dispute before March. 1 deadline. The next day, at 12:01, customs duties on 200 billion dollars of Chinese goods should increase from 10% currently to 25%. Higher levies could hit US importers and further damage China's already weak economy.
While Mr. Lighthizer leads the trade negotiations, Mr. Mnuchin has actively formulated the administration's strategy. In discussions with members of the trade team, Mr. Mnuchin raised the possibility of proposing to eliminate tariffs during discussions scheduled for Jan. 30 in Washington with the Chinese supreme envoy Liu He, one month before the scheduled date for the conclusion of the negotiations. 19659004] "This could be an arrow in the thrill" of US negotiators, said one of the officials responsible for monitoring the negotiations.
million. Lighthizer took a tough stand in the trade talks, saying China had not respected the agreements and could not be trusted to do so in the future. In talks with China, he said that the United States should only eliminate tariffs when China has shown that it has kept the promises made during the talks.
But Mr. Lighthizer has shown signs of easing his stance, according to people involved in the debate. discussions, including the possibility of eliminating certain tariffs if the United States concludes a solid agreement on 1 March.
A spokesman for the Ministry of Finance said the trading positions "were all at the discussion stage" and that "neither Secretary Mnuchin nor Ambassador Lighthizer has done no recommendation to anybody with respect to tariffs or other parts of the negotiation with China. "The talks are" far from over, "said the spokesperson.
Write to Bob Davis at [email protected] address and Lingling Wei at [email protected] address
Source link
