TRADE WARS
China says in 'close' contact with US as tariff threat looms
by Staff Writers
Beijing (AFP) Dec 12, 2019

Beijing and Washington are keeping in "close" contact over a potential phase-one deal to resolve their trade war, China's commerce ministry said Thursday, days before another possible tariffs salvo.

Negotiators are still trying to hammer out a mini agreement, but tensions could escalate again if President Donald Trump goes through with a planned increase in import levies on Sunday.

Trump had earlier announced a 15 percent tariff increase on $156 billion of Chinese exports to the US, due to be imposed on December 15, and there has been no word from the White House on a possible delay to that date.

The removal of tariffs is a key demand of Beijing's in the talks.

"The negotiating teams are maintaining close communication with each other," China's commerce ministry spokesman Gao Feng said at a press briefing.

He declined to comment on how China would react if a fresh round of import duties was imposed.

But China has previously said it would reimpose a 25 percent tariff on US autos and a five percent tariff on auto parts, starting December 15.

Beijing had lifted those tariffs earlier this year as a goodwill measure while trade talks were underway.

China's state council tariff office in August had announced punitive tariffs of five to 10 percent on over 5,000 goods from the US worth over $75 billion, starting September 1 and December 15.

US-made mango juice, electric buses and chemical products face 10 percent duties from December 15 while smaller aircraft, hand pumps and bearings will be hit with five percent taxes, according to the list.

The new US tariffs would target Chinese goods that were not previously hit by US duties -- including about $12 billion worth of toys, cellphones, laptops and tablet computers.

"The reality is that those tariffs are still on the table," Trump's top economics adviser Larry Kudlow said on Tuesday, although he added that the US president had struck a "constructive and optimistic tone" on China.

The White House has said its tariffs are aimed at forcing China to change unfair trade practices, including subsidies and theft of intellectual property.

Trump has insisted that China should buy $40-$50 billion-worth of US agriculture products as part of the deal, which critics say is unfeasible.


Related Links
Global Trade News

TRADE WARS
As Britain votes, EU leaders plot post-Brexit course
Brussels (AFP) Dec 10, 2019
Europe's new leaders will meet without their troublesome neighbour Britain this week, but Brexit will still loom over a summit otherwise dominated by wrangling over their climate and budget strategies. The new head of the European Council of national leaders Charles Michel, will host European Commission president Ursula von der Leyen and their 27 national counterparts on Thursday and Friday. The 28th seat at the table will be empty. Prime Minister Boris Johnson faces a general election battle on ... read more

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Israel and Czech Republic sign $125 mn missile defence deal

Turkey didn't buy Russian defence system 'to keep in box': FM

Pompeo: Turkey test of Russian defense system 'concerning'

Turkey tests Russian missile defences despite US threats

TRADE WARS
Raytheon receives $28.9M to repair SM-2, SM-6 missiles

Russia to create new radar field against cruise missiles

India opts for advanced Akash Prime Missile to 'protect' its airspace from China, Pakistan

Raytheon awarded an $84.7M contract modification for Evolved Sea Sparrow

TRADE WARS
Raytheon nabs $13.1M for third anti-drone laser system for testing

Developing a digital twin

UBC research highlights need to safeguard drones and robotic cars against cyber attacks

Polish firm's drones, from lifesaver to invisible model, take to the skies

TRADE WARS
General Dynamics receives $730M for next-gen satcom system

Airbus' marks 50 years in Skynet secure satellite communications for UK

Lockheed Martin gets $3.3B contract for communications satellite work

GenDyn nets $783M for next-gen Navy MUOS operations

TRADE WARS
Army develops hearing protection for military working dogs

Northrop Grumman opens Warsaw office for IBCS battle command system

Raytheon awarded additional $386M for foreign Paveway bomb buys

Trump forbids US Navy from expelling SEAL accused of war crimes

TRADE WARS
Canada declines to raise defense spending above 2 percent NATO benchmark

Greece threatens to expel Libya envoy over Turkey deal

Exporter: Russian foreign military sales on pace to hit $13.7B despite U.S. sanctions

EU adopts 13 new projects under PESCO defense-cooperation program

TRADE WARS
'Brain dead' NATO's summit dominated by leaders' feuds

Beijing brushes off NATO fears of China 'challenges'

Where's the 'secret' White House Russia room? diplomat jokes

China's neighbours worried about Beijing's military, economic might: poll

TRADE WARS
SMART discovers breakthrough way to look at the surface of nanoparticles

Visible light and nanoparticle catalysts produce desirable bioactive molecules

Flexible, wearable supercapacitors based on porous nanocarbon nanocomposites

Scientists create a nanomaterial that is both twisted and untwisted at the same time