Trump says to 'stay tuned' as trade negotiations continue between US, China

США и Китаю удастся достичь выгодного соглашения в сфере торговли- Трамп

США и Китаю удастся достичь выгодного соглашения в сфере торговли- Трамп

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.

Cargill's comments come as the US Ambassador to China, Terry Branstad, said the US and China are still "very far apart" on resolving trade frictions. "It's not clear, of course, if he's planning to really reverse it or think of a solution in a larger context, but it is something that is just out of the norm", said Amanda DeBusk, the chair of the global trade and government regulations practice at the firm Dechert, LLP.

China's government has pressed the Trump administration in recent trade talks to lift the sanctions and the president voiced sympathy for ZTE in a tweet Sunday.

The case dates to before Trump took office in January 2007 but the Commerce Department's decision came amid worsening trade tensions between the USA and China centered on technology-related intellectual property.

Trump has long-promised to crack down on China and raised concerns about an all-out trade war after threatening $150 billion in tariffs and prompting China to retaliate.

Chinese officials raised their objections to ZTE's punishment at trade talk in Beijing earlier this month, and the American delegation agreed to report them to Trump. The actions may be linked, and may bear on agricultural trade as well, although Commerce Secretary Wilbur Ross on May 14, 2018 insisted that the sanctions against ZTE had "nothing to do with trade". 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.

ZTE announced last week the USA sanctions would force it to curtail major operations.

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.

In March, Washington introduced a 25 per cent tariff on imported steel and a 10-per cent tariff on imported aluminium.

As part of this, they also entered into an agreement with the United States government.

One area the world's two most powerful economies likely won't be able to address during discussions this week is China's practice of what is known as technology mercantilism, in which it distorts policies and systems in order to expand domestic technology production.

ZTE should not be operating in the United States and should not have easy access to American technology, Rubio said.

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