China says in principle door is open to talks with U.S. on trade Security guards walk in front of containers at the Yangshan Deep Water Port in Shanghai, China April 24, 2018 - PHOTO: REUTERS BEIJING (REUTERS) - China's door to talks is open in principle, the country's Foreign Ministry said on Monday, a day after Beijing warned that any trade and business deals reached with Washington would be void if the United States implemented tariffs. The United States and China have threatened tit-for-tat tariffs on goods worth up to US$150 billion each, as U.S. President Donald Trump has pushed Beijing to open its economy further and address the United States' large trade deficit with China. The two countries ended their latest round of negotiations on Sunday, with U.S. Commerce Secretary Wilbur Ross and his delegation leaving Beijing without making a public statement, and China making no mention of any new agreements. Following Chinese Vice Premier Liu He's talks with Ross, China … [Read more...] about China says in principle door is open to talks with U.S. on trade
U s exports to canada
U.S. trade mission seeks structural changes to China's economy-Mnuchin United States Secretary of the Treasury Steven Mnuchin holds a news conference after the G7 Finance Ministers Summit in Whistler, British Columbia, Canada, June 2, 2018 – PHOTO: REUTERS BEIJING/WHISTLER (REUTERS) - The United States wants trade talks in Beijing over the weekend to result in structural changes to China's economy, in addition to increased Chinese purchases of American goods, U.S. Treasury Secretary Steven Mnuchin said on Saturday. U.S. Commerce Secretary Wilbur Ross arrived in Beijing on Saturday with an interagency team of U.S. officials for talks on long-term purchases of U.S. farm and energy commodities, just days after Washington renewed its threats to impose tariffs on Chinese goods. The purchases are partly aimed at shrinking the US$375 billion U.S. goods trade deficit with China. Mnuchin, speaking at a G7 finance leaders meeting in Canada where he was the target of U.S. allies' … [Read more...] about U.S. trade mission seeks structural changes to China’s economy-Mnuchin
The U.S. trade deficit recorded its biggest increase in more than 1-1/2 years in October as exports of soybeans and other products fell, suggesting trade would be a drag on growth in the fourth quarter. The Commerce Department said on Tuesday the trade gap rose 17.8 percent, the largest increase since March 2015, to $42.6 billion. Higher imports due to rising domestic demand also contributed to the widening of the deficit. When adjusted for inflation, the deficit rose to $60.3 billion from $54.2 billion in September. "This widening of the trade deficit at the start of the fourth quarter puts trade on track to subtract a little more than one percentage point from fourth-quarter GDP growth," said John Ryding, chief economist at RDQ Economics in New York. Exports contributed 0.87 percentage point to the third quarter's 3.2 percent annualized rate of increase in gross domestic product. The jump in exports in the last quarter largely reflected a surge in soybean shipments to China after a … [Read more...] about U.S. trade gap widens as exports of soybeans, other products drop
The United States has floated excluding tobacco products from a key section of a 12-nation Pacific trade deal and signaled it may present a formal proposal to trading partners at talks in Australia, sources briefed on the negotiations said. Dropping tobacco from the investor-state dispute settlement, or ISDS, section of the Trans-Pacific Partnership would prevent tobacco companies taking action against any TPP government under those legal protections, for example over health care measures. Marlboro maker Philip Morris International is challenging Australia's plain packaging laws, which ban branded cigarette packs, under the country's investment treaty with Hong Kong, arguing that the laws breach intellectual property rights. One source, who has knowledge of the negotiations but asked not to be named because of the sensitivity of the discussions, said the United States had floated the idea of a carve-out for tobacco under ISDS among senior TPP officials. No language had yet been … [Read more...] about U.S. floats cutting tobacco from part of Pacific trade pact: sources
Vietnam is currently among the leading exporters to the lucrative American market with its main export earners being textiles, seafood, footwear and woodwork, the Vietnamese Ministry of Trade said March 21. Based on export figures in January this year, Vietnam is the 33rd largest exporter of the U.S., according to the ministry. In January, Vietnam's exports to the U.S. reached 537 million USD, up 42.1 per cent over last year's same period, the ministry said. … [Read more...] about Vietnam one of the largest exporters to U.S.