WASHINGTON/BEIJING: China struck a more aggressive tone in its trade war with the United States on Friday, suggesting a resumption of talks between the world's two largest economies would be meaningless unless Washington changed course.The tough talk capped a week that saw Beijing unveil fresh retaliatory tariffs, U.S. officials accuse China of backtracking on promises made during months of talks and the Trump administration level a potentially crippling blow against one of China's biggest and most successful companies.Chinese foreign ministry spokesman Lu Kang, asked about state media reports suggesting there would be no more trade negotiations, said China always encouraged resolving disputes with the United States through dialogue and consultations. "But because of certain things the U.S. side has done during the previous China-U.S. trade consultations, we believe if there is meaning for these talks, there must be a show of sincerity," he told a daily news briefing.CNBC, citing … [Read more...] about China’s tough rhetoric leaves trade talks with US in limbo
China u s relations
U.S. Stocks Slide on Renewed Trade Anxiety
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By Avantika Chilkoti WSJ Akane Otani WSJ Mon., May 13, 2019 U.S. stocks slid Monday, extending a turbulent streak of trading, after officials in Beijing and the White House exchanged fresh threats in a trade fight that many fear could crimp growth. The Dow Jones Industrial Average fell 567 points, or 2.2%, to 25378. The S&P 500 dropped 2.2% and the Nasdaq Composite declined 2.8%. Major indexes have made a sharp retreat from records as trade tensions between the world’s two biggest economies have ratcheted higher. Chinese officials said Monday that they would raise tariffs on roughly $60 billion worth of U.S. imports, following through on threats last week to hit back at the U.S. after its own increase in tariffs went into effect. The moves showed investors that one of the biggest assumptions many had held this year could be in danger of falling apart. Many money managers had credited the stock market’s 2019 rally to a combination of easy monetary … [Read more...] about U.S. Stocks Slide on Renewed Trade Anxiety
Trade frictions raise questions about China’s fentanyl promise
WASHINGTON: China has pledged to stem a flood of the synthetic opioid fentanyl onto America's streets, where it kills thousands of people a month, but U.S. security experts are skeptical about whether Beijing is willing, or even able, to follow through.Ten current and former U.S. officials, congressional sources and China and trade experts told Reuters in interviews that China cooperates only when it believes it will get something in return.In this case, several said, Beijing appears to have offered its help so that it could get the best deal possible from Washington in trade negotiations."Will they enforce this, or is this just another gesture to be used to secure something they want?” said Robin Cleveland, vice chair of the congressional U.S.-China Economic and Security Review Commission, which monitors the national security impact of bilateral trade and economic ties."I think they would hope to leverage it in some meaningful way in the context of trade talks," she said.Those … [Read more...] about Trade frictions raise questions about China’s fentanyl promise
China sentences 6 foreigners for drugs; Canadian gets death
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By Yanan Wang The Associated Press Tues., April 30, 2019 BEIJING - A court in southern China handed down sentences Tuesday to at least six foreigners involved in an international methamphetamine operation, including a Canadian given the death penalty. The Jiangmen Intermediate People’s Court in southern Guangdong province sentenced 11 people who produced more than 63 kilograms (139 pounds) of methamphetamine, an illegal drug. Among them were one American and four Mexicans, who were all given life sentences or death sentences suspended by a period of two years. The court statement did not make clear which individual received what sentence, nor did it give their full names, The Canadian sentenced to death was identified as “Fan Wei,” but it was unclear whether that’s the person’s legal name. A person identified as Wu Ziping, whose nationality was not specified, was also handed the death sentence. The sentence is likely to further strain … [Read more...] about China sentences 6 foreigners for drugs; Canadian gets death
As trade talks reach endgame, US-China ties could hinge on enforcement
BEIJING: U.S. negotiators head to China on Tuesday to try to hammer out details to end the two countries' trade war, including the shape of an enforcement mechanism, the success or failure of which could set the trajectory of ties for years to come.U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing for talks beginning on April 30, followed by a visit by Chinese Vice Premier Liu He to Washington for more discussions starting on May 8.Both sides have cited progress on issues including intellectual property and forced technology transfer to help end a conflict marked by tit-for-tat tariffs that have cost the world's two largest economies billions of dollars, disrupted supply chains and rattled financial markets.Those issues are still on the table, according to the White House, but U.S. officials say privately that an enforcement mechanism for a deal and timelines for lifting tariffs are sticking points.Agreeing to a way to enforce a … [Read more...] about As trade talks reach endgame, US-China ties could hinge on enforcement