Trump Has Already Won the ‘Trade War’

US Firms Feel Squeeze of Trump's China Policy - June 17, 2019

President Donald Trump said on Tuesday (June 18) he had spoken to Chinese President Xi Jinping and that the two leaders' teams would restart trade talks after a long lull in order to prepare for a meeting at the G-20 summit later this month. -China relations since Trump accused Beijing in early May of reneging on commitments that had brought the world's top two economies close to a deal to end their almost year-long trade war. There are more than 300 companies scheduled for the hearing from the business ranging apparels, toys, fishing, and fireworks. The two nations' economic and trade teams should keep in contact on how to solve differences, according to the statement.

The conflict is expected to be the prime topic during a Trump-Xi meeting on the sidelines of the G20.

There are no meetings scheduled to resume negotiations over US demands that China enforce intellectual property protections and curb forced technology transfers and industrial subsidies.

US business and industry representatives on Monday voiced their frustration over and opposition to a proposed new round of tariffs on Chinese imports, sharing stories on how Washington's trade protectionism would backfire.

Global markets are concerned about Trump's threat to impose more steep tariffs on China, to cover an additional $300 billion in goods, which could hurt the already slowing Chinese economy and spread the gloom worldwide. Lighthizer is to testify today to the Senate Finance Committee and Wednesday to the House Ways and Means Committee.

But while expectations have been raised for a breakthrough during the leaders' face-to-face meeting, Commerce Secretary Wilbur Ross over the weekend downplayed the prospect of a major deal in the near term.

Cheatham's comments were echoed by many more USA business owners who said the new levies would hurt consumers and cause job losses.

Trump has said that China must return to concessions it made in earlier rounds of talks.

"They subsidize their industry, so our people are not paying", Trump said Friday in an interview with Fox News.

Tariffs on 250 billion dollars in Chinese imports are now in effect under a Section 301 trade action. "There's this big thing about tariffs, 'Oh, our people pay.' It's a lot of nonsense". Trump prevailed by convincing the world's manufacturers that they must leave China. During Trump's presidency the U.S. Treasury Department has repeatedly refrained from officially accusing China of manipulating the yuan.

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