If you’re China and listening to that, do you really think Trump wants to make a long-term deal?
The squeeze remains on.
Donald Trump has promised major US companies his administration will
process their applications to supply Huawei quickly.
The president on Monday met with chief executives from seven large technology
companies, including microchip makers Qualcomm, Broadcom and
Micron, as well as Google, which sells its Android operating software
to Huawei for use on its smartphones.
According to the White House, the chief executives asked the president
to swiftly process their applications to export to Huawei, following
Mr Trump’s announcement that a ban on selling to the Chinese company
would be relaxed.
A spokesperson for Mr Trump said: “The CEOs expressed strong support
of the President’s policies, including national security restrictions
on United States telecom equipment purchases and sales to Huawei. They
requested timely licensing decisions from the Department of Commerce,
and the President agreed.”
Companies have been seeking clarity on US policy since Mr Trump
said the ban he previously announced would be eased, following a
meeting with Xi Jinping, the Chinese president.
Meanwhile the Trump administration has been urging companies to submit
applications since that decision, according to people briefed on the
situation, in the hope of pleasing Beijing amid US-China trade talks.
China on Wednesday urged the Trump administration to “make up its mind” about reaching a trade deal with Beijing, warning that additional tariffs could send negotiations further off track. — South China Morning Post, July 17
We state emphatically,
Nobody Wins In A Trade War
We’re not sure how to even keep score in a trade war. The relative performance of stock markets? Economies?
Trade Deficit
President Trump likes to look at the bilateral trade deficit. However, during his tenure, the cumulative trade deficit with China has increased by almost $100 billion, 8 percent higher relative to the prior 28 months before he took office.
The U.S. will not levy new tariffs on Chinese exports, Chinese state media said after bilateral talks between Donald Trump and Xi Jinping on the sidelines of the Group of 20 summit in Osaka.
The world’s two biggest economies have agreed to restart trade talks, Xinhua news said, adding that the two sides will have discussions on “specific” issues.
The two leaders met for the first time in nearly seven months on Saturday, again on the sidelines of a global meeting, in an attempt to turn the heat down on a boiling trade war.
Trump is angry at the trade imbalance between the two countries, and has imposed rounds of tariffs on goods the U.S. imports from China. China retaliated by raising tariffs.
As the bilateral meeting began, Xi said he is prepared to exchange his thoughts and that he hopes to set the direction of China-U.S. relations “based on coordination, cooperation and stability.”
He added, “cooperation and dialogue are better than friction and confrontation.”
Trump responded by saying, “It would be historic if we can do a fair trade deal.”
“This could be a very productive meeting,” he said. (more…)
