Overblown claim on new China trade deal

It is unclear which institutions they are, though JPMorgan Chase & Co JPM.N and Morgan Stanley MS.N both recently secured other regulatory approvals in China.

In turn, China will be able to send cooked poultry to the US once the two sides resolve “outstanding issues” – mostly related to concerns over safety and hygiene. “This is REAL news!”

Chinese officials have been in our state numerous times over many years to learn more about the high quality beef produced in Nebraska.

“China has shown its sincerity by making compromises, and it showed that China is not just paying lip service [to addressing the bilateral trade imbalance]”, said Yu Miaojie, the deputy head of the National School of Development at Peking University.

Mr Ross denied suggestions that the deal is linked to United States pressure on China to use its economic leverage to get North Korea to give up its nuclear weapons programme. For one, the arrangement upends the idea that the US and China will launch a trade war, Vice Commerce Minister Yu Jianhua said Friday.

But it is the latest sign that the United States president is adopting a less confrontational approach with Beijing. What accounts for this about-face?

In return, China would send a delegation to a USA meeting for foreign investors in July, with the Trump administration promising equal treatment for China despite a push in some circles in Washington for it to take a tougher line on Chinese investment, particularly in strategic sectors. It buys US Treasury notes and is the second-largest lender to the USA government after Japan. China will evaluate eight pending US biotechnology product applications by the end of May. “So I’m quite relieved that we had tangible achievements”. China is neighboring North Korea’s lone major ally.

Ross said there should be an impact on China’s trade surplus with the United States by the end of the year.

Trump’s provocative tweets ran the risk of weakening diplomatic ties with China, potentially jeopardizing decades of carefully calibrated USA diplomatic efforts to normalise relations. How about the ever growing trade deficit with China? While the Trump administration has touted a surge in USA manufacturing, this agreement does little to help that goal. Further extensions of up to three years are possible. -China relations. Sure, the current level of comity between Beijing and Washington may have come at the cost of blatant corruption (congratulations to Ivanka on those trademarks).

“This was pretty much a herculean accomplishment to get this done”, U.S. Commerce Secretary Wilbur Ross told reporters at the White House, according to Bloomberg News.

In truth, the trade wins build on market openings already under way. “Each accusation by Trump that is directed at the European Union or China has pushed these two giants towards each other in a warmer embrace”. Anthony Ruggiero, a senior fellow at the Washington-based Foundation for Defence of Democracies has cautioned Trump not to go too soft on China.

The unexpectedly friendly meeting between the U.S. and Chinese presidents in April is showing signs of bearing fruit – but it is not clear how much.

“This will let China diversify, somewhat, their sources of supply and will provide a huge export market for American LNG producers”, Ross said.

But Trump’s rhetoric toward China has softened in the past month, expressing admiration for Xi and saying he wanted Beijing to help deal with the North Korean nuclear threat.