U.S.-China Trade Standoff May Be Initial Skirmish in Broader Economic War
A yearlong trade war between the United States and China is proving to be an initial skirmish in an economic conflict that may persist for decades, as both countries battle for global dominance, stature and wealth.
Progress toward a trade agreement nearly collapsed this past week, with both sides hardening their bargaining positions. And even if a trade deal is reached, it may do little to resolve tensions between the world’s two largest economies.
The United States is increasingly wary of China’s emerging role in the global economy and the tactics it uses to get ahead, including state-sponsored hacking, acquisitions of high-tech companies in the United States and Europe, subsidies to crucial industries and discrimination against foreign companies. Read More @ https://www.nytimes.com/2019/05/11/world/asia/us-china-trade-war.html?partner=rss&emc=rss
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China still ‘cautiously optimistic’ on U.S. trade talks despite new tariffs
China and the United States have agreed to hold more trade talks in Beijing, Vice Premier Liu He said as U.S. President Donald Trump ordered his trade chief to begin the process of imposing tariffs on all remaining imports from China.
Liu voiced a measured optimism on reaching a deal, but said there were “issues of principle” on which China would not back down.
“Negotiations have not broken down,” Liu, China’s chief negotiator in the talks, said in Washington on Friday, according to state television on Saturday. “Quite the opposite, I think small setbacks are normal and inevitable during the negotiations of both countries. Looking forward, we are still cautiously optimistic,” Liu said. Read More @ https://www.reuters.com/article/us-usa-trade-china/china-still-cautiously-optimistic-on-u-s-trade-talks-despite-new-tariffs-idUSKCN1SH00U?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
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