EXCLUSIVE: China backtracked on nearly all aspects of U.S. trade deal, according to U.S. government and private sector sources briefed on the talks. davelawder jeffmason1 michaelvmartina
WASHINGTON/BEIJING - The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.
The United States said on Wednesday the higher tariffs would go into effect on Friday, according to a notice posted on the Federal Register. Lighthizer has pushed hard for an enforcement regime more like those used for punitive economic sanctions – such as those imposed on North Korea or Iran – than a typical trade deal.
Lighthizer and U.S. Treasury Secretary Steven Mnuchin were taken aback at the extent of the changes in the draft. The two cabinet officials on Monday told reporters that Chinese backtracking had prompted Trump’s tariff order but did not provide details on the depth and breadth of the revisions. “After 20 years of having their way with the U.S., China still appears to be miscalculating with this administration.”The rapid deterioration of negotiations rattled global stock markets, bonds and commodities this week. Until Sunday, markets had priced in the expectation that officials from the two countries were close to striking a deal.
Changing any law in China requires a unique set of processes that can’t be navigated quickly, said a Chinese official familiar with the talks. The official disputed the assertion that China was backtracking on its promises, adding that U.S. demands were becoming more “harsh” and the path to a deal more “narrow” as the negotiations drag on.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
UPDATE 1-Trump slams China on trade, says won't lose to BeijingU.S. President Donald Trump on Monday slammed China over its trade practices, saying the United States was losing billions to Beijing and vowing to protect American commerce as tension escalated following his weekend threat to hike tariffs. On Sunday, Trump said he would ratchet up tariffs on $200 billion
और पढो »
Exclusive: China backtracked on nearly all aspects of U.S. trade deal - sourcesThe diplomatic cable from Beijing arrived in Washington late on Friday night, wi...
और पढो »
Exclusive: China blocks imports from two Canadian pork producers amid diplomatic spatEXCLUSIVE: Canada farm minister informed that China has blocked two Canadian pork exporters via RodNickel_Rtrs reutersLjungg
और पढो »
Exclusive: Canada farm minister informed that China has blocked two Canadian pork exportersCanada's agriculture minister said on Wednesday that her department officia...
और पढो »
Cramer Remix: China needs us more than we need ChinaJim Cramer explains how the United States has the upper hand in trade negotiations with our stronger, cash fueled economy.
और पढो »
US Navy destroyers sail near disputed islands claimed by China in South China SeaTwo U.S. guided missile destroyers sailed near disputed islands claimed by China in the South China Sea on Monday, the U.S. Navy says in a statement.
और पढो »
Huawei Has Taken Over Apple's Market Share In China; It Will Get WorseWait until Hauwei launches its own operating system. Then even Google will have a new rival.
और पढो »
Trump's top trade negotiator confirms the China tariffs will increase on Friday, accuses Beijing of walking back on trade dealUS Trade Representative Robert Lighthizer confirmed that US tariffs on $200 billion worth of Chinese goods will increase Friday at 12:01 a.m. ET.
और पढो »
Trump just turned up the heat in his trade battle with Beijing. There are 4 major implications for China.With President Donald Trump reescalating the trade war, the economist Julian Evans-Pritchard says China needs to be worried about four things.
और पढो »
China economy tzar to visit US after Trump's tariff threatsChina says its top trade negotiator and vice premier Liu He will visit Washington for a new round of talks this week despite a US pledge to go ahead with a tariff hike on Chinese goods.
और पढो »
Exclusive: Sequoia China to cut up to 20 percent of investment staff as tech growth slows - sourcesSequoia Capital China, widely viewed as a bellwether for Chinese tech investment...
और पढो »