World shares tick higher on US-China trade deal optimism

US Trade Representative Robert Lighthizer

Equally ironic is the fact that Wednesday's data shows America's economy to be in strong shape. "That would create new opportunities for American firms and American workers". They also did not capture all of the costs to the US economy. That means Trump's presidency will have seen the USA trade deficit-the main metric by which his judges countries to be winning or losing-grow by more than $100 billion.

"I've supported the view that we should try to focus the [current] negotiations on opening up more Chinese markets", Dollar said. That contradicts Trump's claim that China is paying the tariffs.

Trump hit roughly half of Chinese imports with taxes previous year, a move created to kickstart trade negotiations with the goal of increasing exports to that country and stopping the forced turnover of USA technology and theft of intellectual property.

The United States and China are close to reaching a major trade deal that would see both sides lower some of the tariffs imposed during an often-bitter trade war, a report said Sunday.

"The widening trade balance in December is a blow to USA trade policy, Bloomberg economists Tim Mahedy and Carl Riccadonna said".

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Investors are watching this week's session of China's ceremonial national legislature for announcements of policy on currency, trade, industrial development and possible economic stimulus.

The Wall Street Journal said that in the pending agreement, China would lower tariffs on USA -made goods including agricultural products, chemicals and cars in exchange for sanctions relief from Washington, citing people briefed on the matter on both sides.

But America's dependence on imports seems to have increased after the tariffs that Mr. Trump imposed a year ago on foreign steel, aluminum and Chinese products. "A competitive dollar is the most important tool we have to spur economic growth and job creation in the U.S. economy", said Michael Stumo, chief executive of the Coalition for a Prosperous America. "And now that market has been taken away". The U.S. responded with additional tariffs of its own, and China responded in kind.

Pompeo wrote to the committee on September 28 saying his department was looking into a request for sanctions on those responsible for abuses and for controls on exports of technology that facilitates mass detentions and surveillance of ethnic minorities in western China's Xinjiang region, the letter said. Americans are importing far more from overseas than they are exporting-imports grew 7.5% while exports increased only 6.3%. However, the USA wants to continue to have the threat of tariffs as leverage to ensure China will comply with any agreement.

Many details still needed to be worked out, including the terms of an enforcement mechanism to ensure that Beijing follows through on pledges to make changes to policies to better protect USA intellectual property, end forced technology transfers and curb industrial subsidies.

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