U.S. trade representative office to hear corporations' case against tariffs

15 May, 2018, 22:39 | Author: Charlene Valdez
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President Trump has directed the Commerce Department to look into easing US economic sanctions against China's major telecommunication company linked to illicit trade with rogue states.

WASHINGTON (AP) — In a surprising overture to China, President Donald Trump said Sunday he would help a Chinese telecommunications company get "back into business", saying too many jobs in China are at stake after the USA government cut off access to its American suppliers.

Kudlow, speaking in a live interview with Politico news outlet, said he backed U.S. Treasury Secretary Steven Mnuchin's efforts to reach an agreement with Beijing and that both countries must take action. "Free and open trade, I think that's the solution". Instead, Trump will likely continue upping the ante - betting on China preferring to come to an agreement rather than risk a trade war.

Liu's trip to Washington follows a visit by Mnuchin and other US officials to Beijing earlier this month, where they conveyed a demand that China slash its trade surplus with the U.S.by $200 billion by the end of 2020. Trump has proposed imposing tariffs on up to $150 billion in Chinese products. It would reduce US gross domestic product by almost 3 billion dollars and destroy 134,000 American jobs annually, according to a new study recently released by the federation and the Consumer Technology Association.

Terrorist attacks in Indonesia
Also on Sunday, police said they killed four suspected members of JAD in Cianjur, in West Java province, and arrested two others. Tito Karnavian, Indonesia's highest-ranking police official, told reporters seven victims were killed.

But he offered an olive branch in calling on US officials to revisit penalties for Chinese company ZTE Corp. for flouting USA sanctions on trade with Iran and North Korea. The U.S. accused ZTE of misleading American regulators after it settled charges of violating sanctions against North Korea and Iran.

At the Beijing talks, the Trump administration handed China a list of hard-line demands that trade experts said could make it even more hard to resolve the trade disputes.

The move was announced in a tweet by Trump on Sunday and comes amid pressure from China's government to back off the sanctions on ZTE, a major Chinese government-linked telecommunications giant. Recently, the tariffs have turned into somewhat of a bargaining chip for the Trump administration as negotiations between Washington and Beijing continue this week.

Branstad, speaking at a conference in Tokyo, said the Chinese appeared "taken back" by the significance of the list.

Trump vows to save jobs at China's ZTE lost after United States sanctions
Chinese officials raised objections to the penalties on ZTE when a US negotiating team visited Beijing earlier this month. Oclaro, which earned 18 percent of its fiscal 2017 revenue from ZTE, fell 17 percent.

"The Company and related parties are actively communicating with the relevant USA government departments in order to facilitate the modification or reversal of the Denial Order by the USA government and forge a positive outcome in the development of the matters", said ZTE. China's Commerce Ministry has pledged to immediately.

Increasing U.S. exports of liquefied natural gas could also be an area where the two countries could agree, he said.

ZTE should not be operating in the United States and should not have easy access to American technology, Rubio said. China, for its part, has stated that it is willing to buy more American goods and services to help reduce the trade deficit.

Oil Gains as Israel and Iran Clash After Trump's Sanctions Move
Facing that reality, Le Maire said the European Union should strengthen its own legal arsenal against any such future US threats. And, in their attacks on the Iran deal, some see an attempt to rewrite history.

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