After talks, China makes vague pledge to buy more U.S. products

China has promised to buy significantly more U.S. agriculture and energy products to help cut the U.S. trade deficit, according to a vague joint statement released Saturday by the two governments after two days of talks in Washington. The statement did not say how much more China would buy or how soon the purchases would take place, and did not indicate whether the United States would back down from plans to impose tariffs on billions of dollars of Chinese goods or remove penalties already imposed on steel and aluminum. “To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services,” the U.S.-China joint statement said. “This will help support growth and employment in the United States. Both sides agreed on meaningful increases in United States agriculture and energy exports. The United States will send a team to China to work out the details.” The high-level talks were led by Vice Premier Liu He for the Chinese and Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and Trade Representative Robert Lighthizer for the United States. “Both sides agreed to continue to engage at high levels on these issues and to seek to resolve their economic and trade concerns in a proactive manner,” the statement said. U.S. officials on Friday said China had offered a plan to boost U.S. exports to China by $200 billion in coming years by reducing tariffs and other trade barriers. However, that language is not reflected in the joint statement in one sign of how much work is left to be done on the agreement. There is also no reference to whether the Trump administration will suspend plans to impose $50 billion to $150 billion worth of tariffs on Chinese goods to pressure Beijing to stop theft of U.S. intellectual property and forced technology transfers. The deadline for public input on the initial $50 billion of goods that could be hit with a new 25 percent tariff ends next week, setting the stage for the administration to actually put the penalties in place. “Both sides attach paramount importance to intellectual property protections, and agreed to strengthen cooperation. China will advance relevant amendments to its laws and regulations in this area, including the Patent Law,” the statement said. The Trump administration is also considering investment restrictions on China as part of the same intellectual property action, and the statement shed little light on whether those are still planned. “Both sides agreed to encourage two-way investment and to strive to create a fair, level playing field for competition,” the statement said. The statement also did not mention whether the Commerce Department will ease criminal penalties on Chinese telecommunications giant ZTE. Trump said last Sunday he wanted the department to back off on ZTE after he spoke to Chinese President Xi Jinping on the matter. However, that has prompted concern in Congress that Trump is using the law enforcement penalty impose on ZTE as a bargaining chip in the overall trade negotiation. The statement is also silent on the future of new U.S. duties on Chinese steel and aluminum products, which prompted Beijing to retaliate by imposing penalties on about $3 billion worth of U.S. food products. Senate Minority Leader Chuck Schumer took note of the statement’s vagueness. “The key to a strong agreement is protecting our intellectual property here in America and stopping the Chinese from keeping out our best goods until we hand over our trade secrets and know how in such things as required joint ventures,” he said in a statement of his own. “The joint statement has nothing specific on those fronts and no amount of immediate and short term purchases of American goods will make up for that.” “Furthermore, there is no mention of ZTE. If the administration capitulates on ZTE and allows it to continue to exist, even if they are fined – they’ve been fined once already – that will signal to President Xi that we are weak negotiators,” the New York Democrat added. source: https://ift.tt/2rXuzdC #Headlines by: DPalmer@politico.com (Doug Palmer)

Original Post: https://ift.tt/2rXuzdC

https://ift.tt/2k8zHrW Curated news from around the web and around the world. Global news, politics, music news, cannabis news and more. Droolin Dog News Full Story

Melania Trump Has Been Released From Hospital

Melania Trump Has Been Released From Hospital New York MagazineMelania Trump Returns to White House in ‘High Spirits’ After Kidney Procedure New York TimesMelania Trump Left The Hospital & Returned To The White House “In High Spirits” After Her Surgery BustleFull coverage source: https://ift.tt/2rTKNVY #Headlines by:

Original Post: https://ift.tt/2rTKNVY

https://ift.tt/2rWjmKm Curated news from around the web and around the world. Global news, politics, music news, cannabis news and more. Droolin Dog News Full Story

Alternative facts are fine in business — but too dangerous for politics

When President Trump promised to run the United States like his businesses, supporters imagined efficiency, strict budgets, and better ‘deals’ for America. As a startup founder who spent 20 years in marketing, I saw something different: A collapse in the use of facts. In many businesses, stretching or denying facts is a strategy for winning deals or internal political battles. Many executives, including Trump, don’t want common facts. In a company, that has company cultural and financial consequences. In a society, it’s corrosive and destructive to the fundamentals of democracy. As President Barack Obama said on David Letterman’s new Netflix… This story continues at The Next Web source: https://ift.tt/2x4DCzx #Headlines by: Bonnie Crater

Original Post: https://ift.tt/2s0ezsr

https://ift.tt/2GxgaKE Curated news from around the web and around the world. Global news, politics, music news, cannabis news and more. Droolin Dog News Full Story

Beijing lands nuclear bombers in the South China Sea in a clear sign that it’s pushed out the US without firing a shot

Beijing lands nuclear bombers in the South China Sea in a clear sign that it’s pushed out the US without firing a shot Business InsiderChina lands bomber on South China Sea island for first time CNBCA heavy new challenge from China out in the South China Sea American Thinker (blog)Air Force bombers land on island airport for first time ecnsAsia in 3 minutes: naughty Chinese tourists in Vietnam; naughty monkeys in Thailand South China Morning PostFull coverage source: https://ift.tt/2IriaJX #Headlines by:

Original Post: https://ift.tt/2IriaJX

https://ift.tt/2GusLhD Curated news from around the web and around the world. Global news, politics, music news, cannabis news and more. Droolin Dog News Full Story

Oakland mayor fires back at Trump after warning immigrants about raids

The mayor’s warning kept federal immigration enforcement from arresting as many as 800 people, according to US Immigration and Customs Enforcement source: https://ift.tt/2LcLn9m #Headlines by: Clark Mindock

Original Post: https://ift.tt/2wSH284

https://ift.tt/2IuIpzj Curated news from around the web and around the world. Global news, politics, music news, cannabis news and more. Droolin Dog News Full Story