Tags: Financial Markets | Trump Administration | China | trade | talks

Report: China to Take Tough Stance on Trade With US

Report: China to Take Tough Stance on Trade With US
(Reuters)

By    |   Monday, 30 April 2018 11:26 AM

China will refuse to deliberate two of President Donald Trump's biggest trade demands next week when American negotiators head to Beijing, The New York Times reports.

Senior Chinese officials have no interest in talking about Trump's proposals to slash America's annual trade deficit with China by $100 billion and to bar Chinese investment in "sensitive" technologies, such as artificial intelligence and electric cars, after his calls for tariffs on $150 billion worth of Chinese goods.

According to the Times, dozens of Chinese officials and their advisers mapped out the government's position to ensure that it is understood abroad.

According to these officials, China will not agree to a deal that includes these two demands, and they won't agree to a deal until Trump calls of his tariff threat.

China is agreeable to shrinking the annual trade deficit, which stands at $375 billion, but not through a mandatory deduction. They would prefer to buy high-tech American goods that have been blocked by the United States. Chinese officials also see American attempts to influence their industrial policy as attempts to stop the country's economic and technological development.

Secretary of the Treasury Steven Mnuchin said Monday that he and other American officials are "looking to have a very frank discussion on trade, on the issues of the trade imbalance."

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China will refuse to deliberate two of President Donald Trump's biggest trade demands next week when American negotiators head to Beijing, The New York Times reports. Senior Chinese officials have no interest in talking about Trump's proposals to slash America's annual trade...
China, trade, talks
216
2018-26-30
Monday, 30 April 2018 11:26 AM
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