Progress in US-China talks stall, Huawei remains on the table

Clay Curtis
July 18, 2019

Data from China this week showed the economy slowed to the weakest pace in at least 27 years.

According to Al-Jazeera news reports, U.S. trade representative Robert Lighthizer and treasury secretary Steven Mnuchin are expected to hold another telephonic conversation this week with the Chinese top trade negotiators, and the two may pay an official visit to Beijing for talks if their phone talks are productive, Munchin has said on Monday.

Mnuchin and U.S. Trade Representative Robert Lighthizer will speak on the phone with their Chinese counterparts, the Treasury Secretary said in an interview along the sidelines of the G7 meeting in Chantilly, France.

Trump resumed pressure on China through tweets this week about the ongoing trade tensions.

Other than citing the loss of market share for some United States businesses operating in China, Bi offered no evidence to support his claim that the trade war had adversely affected the U.S. economy more than China's.

Meanwhile, China out of nowhere added a new member to its negotiating team, commerce minister and hard-liner Zhong Shan, who was present at last month's G-20 summit, and participated in a telephone conversation with USA representatives last week.

One source familiar with the negotiations said the USA side wants China to clarify what negotiating document will form the basis for further talks before locking in a firm date for the in-person meeting.

The revenues raised by President Trump's tariffs on China are not even enough to cover the cost of bailing out farmers hit hardest by his trade war.

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With this year marking the 70th anniversary of the People's Republic of China's founding, politics necessitates healthy growth, said Raymond Yeung of ANZ bank.

The trade war with the USA has hit demand for China's goods, compounding slowing demand from the rest of the world.

China's gross domestic product grew 6.3 percent in H1 year on year, according to the report from the country's National Bureau of Statistics published on Monday.

There is an official expectation for GDP growth in 2019 between 6 percent and 6.5 percent which will, in turn, be lower than 2018.

Not long after China released its economic data on Monday, Trump said in a tweet: "The United States tariffs are having a major effect on companies wanting to leave China for non-tariffed countries".

The US and China restarted negotiations following a truce at the G20 summit in June.

Both China and the United States wanted to reach a trade deal, not China alone, Geng said.

President Donald Trump said Tuesday that there's still a long way to go to reach a deal with China, threatening to slap tariffs on another $325 billion of Chinese goods.

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