Last Updated Dec 9, 2018 1:16 PM EST U.S. Trade Representative Robert Lighthizer said March 1 marks a "hard deadline" for the U.S. and China to reach a firm trade agreement.Mr. Trump claimed China had agreed to "reduce and remove" tariffs at a meeting at the G-20 summit in Argentina, but China has been less reluctant to say so — and U.S. administration officials had different takes on how firm any agreement with China was. The two countries are continuing talks for 90 days."As far as I'm concerned, it's a hard deadline," Lighthizer said on "Face the Nation" Sunday. "When I talked to the president of the United States, he's not talking about going beyond March. He's talking about getting a deal. If there is a deal to be gotten, we want to get it in the next 90 days."Transcript: Amb. Robert Lighthizer on "Face the Nation," December 9, 2018Those talks, however, have been complicated by the arrest in Canada of Meng Wanzhou, the chief financial officer of Chinese telecom firm … [Read more...] about March 1 a “hard deadline” for reaching trade deal with China, Lighthizer says
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VANCOUVER, British Columbia — A top Chinese telecommunications executive facing possible extradition to the United States appeared in court Friday as she sought bail in a case that has rattled markets and raised doubts about the U.S. being able to reach a truce in its trade war with China. A prosecutor for the Canadian government urged the court not to grant bail, saying the charges against Meng Wanzhou, the chief financial officer for Chinese telecom giant Huawei, involve U.S. allegations that Huawei used a shell company to access the Iran market in dealings that contravene U.S. sanctions. Prosecutor John Gibb-Carsley said Meng, who has vast financial resources as the daughter of Huawei’s founder, has incentive to flee Canada because she faces fraud charges in the U.S. that could bring up to 30 years in prison. The prosecutor said Meng assured U.S. banks that Huawei and the shell company alleged to have done business with Iran, called Skycom, were separate companies, but … [Read more...] about Chinese executive facing U.S. extradition appears in B.C. court
Video by Reuters HUAWEI VIA ASSOCIATED PRESS Huawei’s chief financial officer Meng Wanzhou in a portrait photo. Wanzhou was to appear in court today to seek bail, the latest development in a surprising legal wrangle that raises doubts about whether a U.S.-China trade cease-fire can hold. VANCOUVER, British Columbia >> A Chinese telecommunications executive was to appear in court today to seek bail, the latest development in a surprising legal wrangle that raises doubts about whether a U.S.-China trade cease-fire can hold. The arrest of Meng Wanzhou, chief financial officer of the Chinese telecom giant Huawei, came as a jarring surprise after Presidents Donald Trump and Xi Jinping agreed to a trade truce last weekend in Buenos Aires, Argentina. Fears of renewed U.S.-China trade hostilities have rattled global financial markets. They tumbled Thursday. Stocks regained their equilibrium today in Europe and Asia after conciliatory words from Beijing but fell again on Wall … [Read more...] about Chinese executive facing U.S. extradition to appear in court
The 13th summit of the Group of 20 (G20) is held in Buenos Aires, Argentina, Nov. 30, 2018.The agreement came after a more than two-hour dinner between the two leaders, held on the sidelines of the Group of 20 summit in Argentina."We will increase efforts to engage with the private sector, the scientific community and all other relevant stakeholders to enhance value addition, productivity, efficiency, sustainability and upgrading in agro-food global value chains and encourage initiatives to reduce food loss and waste", the declaration added.The WTO is on the verge of becoming dysfunctional, just when it is most needed to fulfill its role as umpire in trade disputes and as the watchdog of global commerce."I think that is going to be a very primary reason why we'll probably be ending up getting something that will be good for China and good for the United States".G20 leaders have backed reforms to overhaul the World trade organization (WTO) that regulates worldwide trade disputes. … [Read more...] about Trump and China Called a Truce in the Trade War. Now What?
THE TICKER A worker controls iron at the Thyssenkrupp steel factory in Duisburg, Germany, the biggest steel producer site in Europe. (AP Photo/Martin Meissner) Put 30 days back on the trade war countdown clock. Just hours before steel and aluminum tariffs were set to kick in at midnight for key trading partners, President Trump announced late Monday he is extending their exemptions until June 1. That has given the whole bunch something to cheer about, with the notable exception of the European Union. The White House said it has reached agreements to permanently carve out three of the countries that got exemptions — including Argentina, Australia, and Brazil — and will finalize details soon. South Korea likewise has nailed down terms waving off the steel tariffs as part of a retooled bilateral trade pact. But leaders of Canada, Mexico, and the European Union need to sweat through another month of heat from Washington, as the Trump administration … [Read more...] about The Finance 202: Trump’s tariff delay leaves Europe as the odd one out