China: U.S. Trade Officials to visit Beijing
China's commerce ministry said on Thursday that a U.S. trade delegation headed by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit Beijing on March 28-29 for another round of negotiations.Chinese Vice Premier Liu He will travel to the U.S. in early April for more talks, Gao Feng, the commerce ministry spokesman told reporters in a regular briefing.Reporting by Yawen Chen
U.S. Democrats Initially Cool to New NAFTA
Democrats in the U.S. House of Representatives gave a cool reception to the replacement for the North American Free Trade Agreement on Wednesday as the top U.S. trade negotiator opened a campaign to win broad support for the accord in Congress.Several Democrats said a closed-door meeting between United States Trade Representative Robert Lighthizer and their caucus failed to ease their concerns about the new U.S.-Mexico-Canada Agreement's (USMCA) provisions on labor, biologic drugs and some other issues.A USTR spokeswoman declined to comment on the meeting.The support of Democrats…
Mnuchin: China Talks "So far, so good"
U.S. Treasury Secretary Steven Mnuchin said talks with China went well on Wednesday, as the world's two largest economies try to iron out an agreement to resolve their trade dispute."So far, so good," he said when asked by reporters on how the meetings in Beijing went. He did not say who he met.Mnuchin said earlier he hoped for "productive" trade meetings as the two countries seek to end a festering dispute that has seen both sides level tariffs at one other.U.S. tariffs on $200…
China to Halt Additional Tariffs on U.S.-made Cars
China to suspend additional 25 pct tariffs on U.S.-made cars for three months; China's planned tariff halt follows purchase of U.S. soybeans.China will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019, the country's finance ministry said on Friday, following a truce in a trade war between the world's two largest economies.China will suspend 25 percent tariffs on 144 U.S. vehicle and auto part items and 5 percent tariffs on 67 auto items between Jan.
China, U.S. Discuss Road Map for Continuing Trade Talks
China and the United States discussed a road map for the next stage of their trade talks on Tuesday during a telephone call between Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.U.S. President Donald Trump and Chinese President Xi Jinping agreed at a Dec. 1 meeting in Argentina to a truce that delayed a planned Jan. 1 U.S. increase of tariffs to 25 percent from 10 percent on $200 billion worth of Chinese goods.Lighthizer said on Sunday that unless U.S.-China trade talks wrapped up successfully by March 1…
"Huge amount of work to do" in NAFTA talks -Canadian minister
Canadian Foreign Minister Chrystia Freeland said on Wednesday she remained optimistic about progress on negotiations with the United States over a revamp of the North American Free Trade Agreement, but said there was a "huge amount of work to do.""We have had a good meeting yesterday. We've had another good meeting today," Freeland told reporters after emerging from a meeting with U.S. Trade Representative Robert Lighthizer.
Top U.S. Trade Official Sees NAFTA 'breakthrough' in Days
U.S. Trade Representative Robert Lighthizer on Thursday said he hopes there will be a breakthrough in NAFTA trade talks in the next few days, as the U.S continues discussions over the North American Free Trade Agreement.Lighthizer made the remarks at White House meeting of President Trump's Cabinet. Trump told Lighthizer he was in no rush for a resolution over the pact: "We’re either going to do a fair NAFTA for us or we're not going to do NAFTA at all."Reporting by Steve Holland
China Will Hit Back After New US Tariffs
China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions "completely unacceptable".The foreign ministry described Washington's…
US Plans Tariffs on Extra $200 Bln of Chinese Imports
The United States has decided to impose tariffs on $200 billion worth of imports from China after efforts to negotiate a solution to the trade dispute failed to reach an agreement, senior administration officials said on Tuesday.U.S. Trade Representative Robert Lighthizer said the United States would impose tariffs of 10 percent on the additional Chinese imports.The move would be the latest in the escalating trade skirmish between the world's two biggest economies.Trump said last…
NRF: Tariffs Against China Would Destroy 134,000 US Jobs
The Trump administration’s proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce U.S. gross domestic product by nearly $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. The report finds that four jobs would be lost for every job gained. “As administration officials prepare to head to China for trade talks, the livelihoods of American workers hang in the balance,” NRF President and CEO Matthew Shay said.
US in Talks with China on Trade
White House trade adviser Peter Navarro said on Monday that United States is in talks with China after Washington announced plans to impose tariffs on up to $60 billion of Chinese products. In an interview with CNBC, Navarro said Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer were negotiating with Chinese counterparts to resolve outstanding trade differences. "We're hopeful there that China will work with us to basically address some of these practices," Navarro said. (Reporting by David Lawder Editing by Eric Beech)
Trump Tariffs: EU Seeks Permanent Exemption
European Union leaders called on Friday for a temporary exemption from U.S. import duties on steel and aluminium to be made permanent, saying they reserved the right to respond in an "in a proportionate manner" to protect the bloc's interests. The 40-day exemption granted by Washington was like U.S. President Donald Trump "putting a gun to our head", Belgium's prime minister complained. The EU's trade negotiator demanded that the United States drop "artificial deadlines". Trump said on Thursday he would suspend tariffs for the EU…
Trump Names China Critic Lighthizer as US Trade Rep
U.S. President-elect Donald Trump on Tuesday named Robert Lighthizer, an official in the Reagan administration and harsh critic of China's trade practices, to be his chief trade negotiator, responsible for better deals aimed at reducing U.S. trade deficits. Trump, who promised during his presidential campaign to renegotiate international trade deals like NAFTA and punish companies that ship work overseas, said in announcing his choice that Lighthizer would help "fight for good trade deals that put the American worker first."Lighthizer is a former deputy U.S.
Senate Panel OKs Lighthizer for US Trade Rep
The Senate Finance Committee on Tuesday approved President Donald Trump's choice for U.S. Trade Representative, bringing Robert Lighthizer a step closer to taking office as U.S. trade disputes with Canada and Mexico heat up. The panel also voted to approve a legal waiver for Lighthizer from a 1995 law that prohibits people who did work on behalf of foreign governments from serving as the top U.S. trade negotiator. Lighthizer did work on behalf of the Brazilian agriculture agency in the late 1980s and assisted a colleague with work for a Chinese electronics industry group in 1991.
US Trade Rep Says No Deadline Set for NAFTA Deal
U.S. Trade Representative Robert Lighthizer said on Wednesday there was no deadline for completing NAFTA trade talks between the United States, Canada and Mexico even as lawmakers warned that U.S. business would be hurt by prolonged negotiations. "There is no deadline. My hope is that we can get it done by the end of the year, but there are a lot of people who think that is completely unrealistic," Lighthizer told a Senate Finance Committee hearing to discuss the USTR's budget. Under U.S. law, Lighthizer, a veteran trade lawyer, will be the principal U.S. negotiator on NAFTA, although U.S.
US Outlines Priorities for NAFTA Negotiations
The United States on Monday outlined its priorities for renegotiating the NAFTA trade agreement and said it would focus on ensuring better access for U.S. goods exported to Canada and Mexico in order to reduce the U.S. trade deficit. In the document sent to Congress for revamping the North American Free Trade Agreement, U.S. Trade Representative Robert Lighthizer said the administration would strive to eliminate unfair subsidies and market-distorting trade practices. "Too many Americans have been hurt by closed factories…
US Trade Chief Says He's Not Focused on Ending NAFTA
U.S. Trade Representative Robert Lighthizer said on Tuesday he is not focused on terminating the North American Free Trade Agreement and is only trying to negotiate an update that "rebalances" the pact to reduce U.S. trade deficits. "We don't really have a plan beyond trying to get a good agreement," Lighthizer told reporters after the fourth round of NAFTA modernization talks wrapped up. "If we end up not having an agreement, my guess is all three countries would do just fine. We have a lot of trade, a lot of reasons to trade." (Reporting by David Lawder; editing by Grant McCool)
U.S. Wants Export Caps in Return for Scrapping Tariffs
The United States has set conditions for scrapping its planned punitive tariffs on steel and aluminum imports from Europe, German magazine Der Spiegel reported, including capping U.S.-bound exports of the metals at 2017 levels. The European Union has been pushing for talks to avert a trade war since U.S. President Donald Trump announced he would slap tariffs on a raft of high-value European exports in retaliation for alleged steel and aluminium dumping. The conditions named by U.S.