We asked the Democrats running for president how they would negotiate with China on trade. Here’s what they said

China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. On the intellectual property theft, we know that much of the IP theft is state-backed. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help


China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. On the intellectual property theft, we know that much of the IP theft is state-backed. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help
We asked the Democrats running for president how they would negotiate with China on trade. Here’s what they said Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: tucker higgins
Keywords: news, cnbc, companies, practices, property, running, negotiate, democrats, wto, trade, american, president, asked, theft, rights, heres, intellectual, china, chinas


We asked the Democrats running for president how they would negotiate with China on trade. Here's what they said

China’s President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. Nicolas Asfouri | AFP | Getty Images

With trade negotiations between the U.S. and China stalled and an escalating trade war threatening global markets, President Donald Trump has said that the Chinese are “DREAMING” that he will be defeated by a Democrat in 2020. But Democrats have not said much about their own plans for negotiating with the Chinese. To learn more, CNBC asked the 21 top Democrats running for president about their views. We asked them what they believe is working under Trump — and what they would change. We also asked whether human rights issues in China, where the U.S. has said more than a million Muslims are held in concentration camps, should be part of any trade deal. Lastly, we asked about what they would do about China’s efforts to tighten its military grip on the South China Sea, where more than $3 trillion of trade passes annually. Below, unedited, are our questions and the answers we received from the seven Democrats who responded. Those Democrats are Sen. Bernie Sanders, I-Vt., Rep. Eric Swalwell, D-Calif., Rep. Tim Ryan, D-Ohio, former Maryland Rep. John Delaney, Rep. Seth Moulton, D-Mass., Miramar, Florida, Mayor Wayne Messam and spiritual coach Marianne Williamson. Two other Democrats provided partial responses. A spokesperson for Sen. Michael Bennet, D-Colo., provided an excerpt from the senator’s platform that is included as a response to the first question. An aide to Texas Rep. Beto O’Rourke wrote in a statement: “Holding China accountable should not come at the expense of American workers. That is why we must not settle for any deal that does not respect intellectual property, level the playing field in the Chinese market, nor end unfair trade practices. We must advance progress based on shared interests and core democratic values.” Joe Biden, the Democratic front runner, did not respond to CNBC’s survey as of publication time but has dismissed China’s economic competitiveness while on the campaign trail, earning some criticism from his fellow contenders. “China is going to eat our lunch? Come on, man,” Biden told a crowd in Iowa earlier this month. He described himself as a “fair trader” and said he has been “arguing for a long time that we should treat other countries the way in which they treat us, which is, particularly as it relates to China: If they want to trade here, they’re going to be under the same rules.” CNBC provided the questions to each campaign on May 6. What do you think is the best approach to addressing China’s practices with regard to intellectual property theft, technology transfer, industrial subsidies and other matters in which the two countries are at odds. Is it through multinational organizations like the World Trade Organization and the United Nations? Will you take any action unilaterally? If so, what action? Sanders: It is in the interests of the United States to work to strengthen institutions like the WTO and the UN rather than trying to go it alone. American concerns about China’s technology practices are shared in Europe and across the Asia-Pacific. We can place far more pressure on China to change its policies if we work together with the broader international community and the other developed economies. International institutions also offer China a template for reforming its own internal intellectual property and industrial practices. Swalwell: I’m a member of the House Permanent Select Committee on Intelligence, as well as of the Judiciary Subcommittee on Courts, Intellectual Property, and the Internet, so I’ve seen first-hand the economic espionage that China commits and the adverse impact it has on American businesses. China has not been forthright in even admitting that intellectual property theft and technology transfer occurs. Nor is China transparent on its industrial subsidies. Curbing China’s dishonest practices must be a part of any negotiation; as president, I would hold China accountable. On the intellectual property theft, we know that much of the IP theft is state-backed. In order to combat this we must take a multi-pronged approach — both defensive and offensive. We must have a strong enforcement mechanism with which to hold China accountable for their actions and continue to impose penalties when theft occurs. China has made promises to institute reforms of their policies governing IP rights, technology transfers and cyber-theft of trade secrets in the past but we know these are not being imposed. Read more: Eric Swalwell of California joins 2020 presidential race The legal and diplomatic approaches have not been completely effective, it is critical that we implement other actions such as developing early warning systems, particularly when it comes to the stealing of defense technology. This can be done through private-public partnerships. We must also be ready to take counter action when a theft is detected. It is vital that we continue to have a multinational approach to addressing these issues. We can’t go it alone; we must involve allies — and other victims of China’s practices — such as Japan, South Korea, Australia and New Zealand.

While the U.S. does not have to go through the World Trade Organization and can invoke Section 301 if they are to impose tariffs against China (even though it still has to file a simultaneous complaint with the WTO), the WTO can still be a useful partner. In fact, the WTO has an obligation to enforce the rules they have set up, otherwise it is left to the United States to impose punishment. We should hold the WTO to its obligation. It is also important that U.S. companies acknowledge when theft is occurring by China. In the past, companies have not wanted to impinge on their business with China so they’ve turned a blind eye. I would ensure that reporting this theft it is a win-win for American companies through fair trade practices. Lastly, government departments must coordinate with each other and with U.S. companies. The departments of Commerce and the Treasury, the U.S. Trade Representative and the U.S. State Department must all be aligned to tackle the problem of IP property theft in coordination with the private sector. I would continue to make sure the Justice Department brings criminal cases against the companies that violate trade agreements and steal our trade secrets and intellectual property. I would boost our Trade Representative’s investigation of China’s activities by adding more staff and funding. Ryan: When it comes to China stealing intellectual property from the United States, there is no doubt that multinational organizations need to play a part in holding them accountable. These actions are a serious national security and economic risk for the United States. At the same time, I think our government must take further action when it comes to creating safeguards against China’s actions. That is why I have cosponsored legislation the Fair Trade with China Enforcement Act, which would hold China accountable and create necessary regulations when it comes to trade with China, including prohibiting the sale of national security sensitive technology and intellectual property to China. Read more: Ohio Rep. Tim Ryan — who once tried to take down Nancy Pelosi — is running for president Delaney: China has acted like pirates, stealing intellectual property, building illegal islands, and not playing by the rules. I will build a broad coalition of U.S. allies and have a unified front against China (this will involve working with multinational organizations but also doing a lot more), I will unify our business community against these practices by preventing them from depositing intellectual property funded by taxpayers into joint ventures with China, and I will re-enter the TPP to compete with China. We can hold China accountable and have a productive relationship with them. Read more: What being a successful businessman taught Rep. John Delaney about politics Moulton: These options aren’t mutually exclusive. We should address cybersecurity and intellectual property theft issues directly with China and use the WTO to negotiate trade disputes and establish clear enforcement mechanisms. Protecting our international property is a national security issue, and we need to build a cyberwall to protect against Chinese and Russian attacks. We should start by strengthening the Cyber Threat Intelligence Integration Center created under President Obama and improve the information-sharing between the private sector and government on cyber threats. As we press China on trade and intellectual property theft, we need to demonstrate our resolve in ways that actually help American workers. Donald Trump has shown he knows nothing about trade. An initial analysis of the net effect of the tariffs is that they are costing the United States economy $1.4 billion a month, and the cost of the tariffs is being passed on to U.S. farmers, companies, and consumers. Read more: Seth Moulton is the latest Democrat running for president. Here are his biggest policy priorities, from green jobs to a public option The United States led the 15 years of negotiations that enabled China to join the WTO and we should reap the benefits of that successful diplomatic effort. Our negotiators secured unprecedented changes to China’s economic and trade policies as conditions for membership, including requiring a dramatic opening of China’s telecom, banking, and insurance sectors, along with the lowering of tariffs on key agricultural products to almost zero. The point is: WTO leverage works. China’s membership in the WTO has been a huge boon to the United States, with U.S. exports to China increasing by 500 percent and agricultural exports increasing by 1000 percent since China joined the organization. Going forward, the WTO should absolutely be involved in establishing trust in trade negotiations and in providing the mechanisms for the enforcement of trade agreements. Bennet: Instead of slapping tariffs on our allies and perpetrating a trade war, Michael believes we need to do the hard work of building coalitions to counter Chinese predatory economic practices, like intellectual property theft and economic espionage, that harm American workers, businesses, farmers, and ranchers. In order to compete with and counter an increasingly authoritarian China, Michael believes we must reinvest in our alliances, champion democratic values like the rule of law and human rights, and sharpen our efforts to combat technology threats that undermine U.S. economic and national security.

Messam: The strained trade relations between the U.S. and China is a complex issue that should be confronted with a measured and sober disposition. The combined approach of multinational organizations and unilateral action should be leveraged to protect intellectual property, technology assets, and trade secrets. Before engaging trade wars that could have detrimental impacts to American businesses and our economy, we must seek to solve our trade differences diplomatically. Where multinational organization negotiations don’t work, I would seek specific and direct trade remedies not limited to: • tariffs • blockade on imports of stolen intellectual property Read more: Little-known Florida mayor becomes the latest Democrat vying to take on Trump in 2020 Williamson: The United States Intellectual Property is some of the most valued in the world. According to the USTR, by stealing our intellectual property, China costs American businesses between $225 billion and $600 billion annually. We must use all tools at our disposal to ensure China respects intellectual property law. This will include working with and leveraging the power of the international community to make certain that China engages in fair trade. The U.S. government must also enlist the help and cooperation from American businesses to help solve this problem. Increased internal controls, more robust screening and standardized best practices will make it more difficult for Chinese agents to operate. Many opportunities are a matter of simple theft. More diligence will help curb crimes of opportunity. Lastly, a firm no nonsense stance against China on every front will be necessary to send a clear message that these practices won’t be tolerated. Should a trade deal with China address human rights issues? If not, will your administration address human rights in China and, if so, how? Sanders: Yes. Labor protections are very weak in China, and the rights of workers are an essential component of human rights. The Trump administration has proven itself indifferent to labor rights, and apparently would prefer that American workers are reduced to the position of Chinese workers, rather than that labor everywhere enjoy basic protections and strong standard of living. The Trump administration has also done nothing to pressure China over its abhorrent treatment of the Uighur and Tibetan peoples. Future trade negotiations should, for example, target American corporations that contribute surveillance technologies that enable China’s authoritarian practices. Swalwell: Yes, a trade deal must have a component to address human rights activity. We must be a model for the world and call out countries such as China that violate human rights. Ryan: Yes. As the United States negotiates any future trade deal with China, we must address the human rights violations. The actions we have seen from the Chinese government when it comes to the inhumane treatment of the ethnic minorities is inexcusable. And no future trade agreement can ignore these violations. Delaney: Human rights are a priority to the Delaney Administration.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: tucker higgins
Keywords: news, cnbc, companies, practices, property, running, negotiate, democrats, wto, trade, american, president, asked, theft, rights, heres, intellectual, china, chinas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

EU belittles US claims as ‘frankly childish’ at WTO Airbus hearing

A European Union trade lawyer fired withering put-downs at U.S. claims for damages due to subsidies for European planemaker Airbus in a recording of a dispute hearing made available by the World Trade Organization (WTO) on Tuesday. The EU lawyer, whom diplomats identified as James Flett, described some U.S. claims in the case as “frankly childish” and said some of the data appeared to have been provided by Airbus’ U.S. rival Boeing Co. The two firms’ rival claims have fuelled almost 15 years of


A European Union trade lawyer fired withering put-downs at U.S. claims for damages due to subsidies for European planemaker Airbus in a recording of a dispute hearing made available by the World Trade Organization (WTO) on Tuesday. The EU lawyer, whom diplomats identified as James Flett, described some U.S. claims in the case as “frankly childish” and said some of the data appeared to have been provided by Airbus’ U.S. rival Boeing Co. The two firms’ rival claims have fuelled almost 15 years of
EU belittles US claims as ‘frankly childish’ at WTO Airbus hearing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01
Keywords: news, cnbc, companies, childish, data, airbus, flett, claims, trade, damage, subsidies, belittles, hearing, lawyer, frankly, boeing, eu, wto, dispute


EU belittles US claims as 'frankly childish' at WTO Airbus hearing

A European Union trade lawyer fired withering put-downs at U.S. claims for damages due to subsidies for European planemaker Airbus in a recording of a dispute hearing made available by the World Trade Organization (WTO) on Tuesday.

The EU lawyer, whom diplomats identified as James Flett, described some U.S. claims in the case as “frankly childish” and said some of the data appeared to have been provided by Airbus’ U.S. rival Boeing Co.

The two firms’ rival claims have fuelled almost 15 years of litigation at the WTO. After both were found to have received illegal subsidies, each side wants to gain the upper hand by winning the right to trade sanctions to compensate for economic damage.

The latest comments, released as an audio recording on Tuesday, were made at a dispute hearing in February. Hearings are normally secret, but a few are made public.

An unnamed U.S. trade lawyer spoke first for about 30 minutes, saying the U.S. calculation was “eminently straightforward and logical”, amounting to an annual $10.8 billion in damages.

Denying such a level of sanctions would “cement in perpetuity” the damage done by the EU subsidies, which had caused the United States “economic pain” for at least two decades, he said.

After 14 years of litigation it was long past time for the EU to argue about the damage it had done.

“The EU is wrong,” the U.S. lawyer told the hearing.

U.S. President Donald Trump tweeted about the dispute on April 9, promising $11 billion of tariffs. “The EU has taken advantage of the U.S. on trade for many years. It will soon stop!,” Trump wrote.

In a statement that ran to 100 minutes, Flett accused the United States of using double counting and unreliable data to inflate the amount of damage caused by Airbus subsidies and to erroneously claim that the damage was recurring.

In fact, the continuing effect of the subsidies was “precisely zero”, Flett said, describing it as “an inconvenient truth”.

Substantial parts of the evidence required to support the U.S. case were “missing, incomplete, inconsistent, non-verifiable, and in fact, wholly unreliable”, he added.

The U.S. case included price data for Boeing planes, but it was distorted because the prices mainly related to VIP customers, he said.

“This is really serious, Mr. Chairman, because at the moment, what you’re looking at is numbers, apparently, that have been provided by Boeing. Boeing has a massive commercial interest in the outcome of this process,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-05-01
Keywords: news, cnbc, companies, childish, data, airbus, flett, claims, trade, damage, subsidies, belittles, hearing, lawyer, frankly, boeing, eu, wto, dispute


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Europe slams ‘exaggerated’ US tariff threat and prepares to retaliate

Both sides have now been found guilty of paying billions of dollars of subsidies to gain advantage in the global aircraft manufacturing business. GAM’s Investment Director for Global Equities, Ali Miremadi, said the U.S.’ tariff proposal was “quite bold.” “I have to say the country which is the home to Boeing accusing Europe of state subsidies for Airbus — this is quite bold,” he told CNBC’s “Squawk Box Europe” Tuesday. “It’s very well established that both Boeing and Airbus exist only at the di


Both sides have now been found guilty of paying billions of dollars of subsidies to gain advantage in the global aircraft manufacturing business. GAM’s Investment Director for Global Equities, Ali Miremadi, said the U.S.’ tariff proposal was “quite bold.” “I have to say the country which is the home to Boeing accusing Europe of state subsidies for Airbus — this is quite bold,” he told CNBC’s “Squawk Box Europe” Tuesday. “It’s very well established that both Boeing and Airbus exist only at the di
Europe slams ‘exaggerated’ US tariff threat and prepares to retaliate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: holly ellyatt, regis duvignau
Keywords: news, cnbc, companies, quite, unfair, tariff, subsidies, slams, prepares, threat, eu, boeing, global, retaliate, retaliation, airbus, exaggerated, wto, europe, trump


Europe slams 'exaggerated' US tariff threat and prepares to retaliate

Both sides have now been found guilty of paying billions of dollars of subsidies to gain advantage in the global aircraft manufacturing business.

The EU is still waiting to hear from the WTO about what “retaliation rights” it has after the organization found in 2012 that Boeing too had received billions of dollars in illegal subsidies that had been to the detriment of Airbus. The WTO also ruled in March that the U.S. had failed to comply fully with its earlier ruling to remove all illegal subsidies that Boeing had received.

The European Commission spokesman also said Tuesday that Brussels is ready to retaliate in kind, noting that in the parallel Boeing dispute, “the determination of EU retaliation rights is also coming closer and the EU will request the WTO-appointed arbitrator to determine the EU’s retaliation rights.”

Some analysts have accused the U.S. of double standards. GAM’s Investment Director for Global Equities, Ali Miremadi, said the U.S.’ tariff proposal was “quite bold.”

“I have to say the country which is the home to Boeing accusing Europe of state subsidies for Airbus — this is quite bold,” he told CNBC’s “Squawk Box Europe” Tuesday.

“It’s very well established that both Boeing and Airbus exist only at the discretion of their respective hosts or host governments.”

President Donald Trump tweeted Tuesday that “the EU has taken advantage of the U.S. on trade for many years.”

UBS’ Global Wealth Management’s Chief Economist Paul Donovan noted wryly that Trump had accepted the WTO ruling much more readily than usual.

“The WTO has ruled that Airbus received unfair subsidies from the EU and U.S. President Trump has, rather unusually, decided to agree with the WTO,” Donovan said in a regular podcast Tuesday.

“Whether U.S. President Trump would be quite so willing to accept the verdict of the WTO about unfair assistance from the U.S. to Boeing, which is an ongoing case, is a rather different matter.”


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: holly ellyatt, regis duvignau
Keywords: news, cnbc, companies, quite, unfair, tariff, subsidies, slams, prepares, threat, eu, boeing, global, retaliate, retaliation, airbus, exaggerated, wto, europe, trump


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Russia wins WTO ‘national security’ case in potential boost for Trump

The WTO panel ruling, the first ever on the right to a national security exemption from the global trade rules, can be appealed. The panel also confirmed the WTO’s right to review national security claims, denting U.S. claims that national security was not subject to review by the global trade body. The panel also confirmed the WTO’s right to review national security claims, denting U.S. claims that national security was not subject to review, and said any such claim should be “objectively” true


The WTO panel ruling, the first ever on the right to a national security exemption from the global trade rules, can be appealed. The panel also confirmed the WTO’s right to review national security claims, denting U.S. claims that national security was not subject to review by the global trade body. The panel also confirmed the WTO’s right to review national security claims, denting U.S. claims that national security was not subject to review, and said any such claim should be “objectively” true
Russia wins WTO ‘national security’ case in potential boost for Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: marcos brindicci
Keywords: news, cnbc, companies, wto, case, wins, dispute, wtos, russia, trump, boost, security, ruling, national, trade, claims, review, right, potential


Russia wins WTO 'national security' case in potential boost for Trump

Russia won a dispute about “national security” at the World Trade Organization on Friday, in a ruling over a Ukrainian railway dispute that may also lend support to global automobile tariffs that could be imposed by U.S. President Donald Trump.

The WTO panel ruling, the first ever on the right to a national security exemption from the global trade rules, can be appealed. The panel also confirmed the WTO’s right to review national security claims, denting U.S. claims that national security was not subject to review by the global trade body.

The panel also confirmed the WTO’s right to review national security claims, denting U.S. claims that national security was not subject to review, and said any such claim should be “objectively” true, relating to weapons, war, fissionable materials or an “emergency in international relations”.

“An emergency in international relations would, therefore, appear to refer generally to a situation of armed conflict, or of latent armed conflict, or of heightened tension or crisis, or of general instability engulfing or surrounding a state,” it said.

The ruling, the first ever on national security, can be appealed.

Invoking national security was taboo at the WTO for decades after it was founded in 1995. Diplomats referred to it as “Pandora’s box” which could never be closed once it was opened, and would undermine the discipline of the WTO’s widely accepted rules.

But in the past three years, Russia has cited it in the dispute with Ukraine, Trump has used it to justify tariffs on steel, aluminium and — potentially — autos, and Bahrain, the United Arab Emirates and Saudi Arabia have cited it in a dispute with Qatar.

Ukraine went to the WTO in 2016, complaining of a huge reduction in trade with Asia and the Caucasus region after Russian President Vladimir Putin banned road and rail transport from Ukraine unless the route also went through Belarus.

Russia’s Economy Ministry said that Friday’s ruling had recognised Ukraine’s arguments to be unfounded, and said the issue was of systemic importance for the WTO.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: marcos brindicci
Keywords: news, cnbc, companies, wto, case, wins, dispute, wtos, russia, trump, boost, security, ruling, national, trade, claims, review, right, potential


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

It’s looking like a US-China trade deal is near — and Beijing will get everything it wanted

What are those enforceable structural reforms the U.S. wants China to implement? One of the news leaks from last week’s trade negotiations in Beijing is an example of the key blockages. China wants to work with the WTO to align its policies with existing trade rules and arbitration procedures. That is, in a nutshell, the entire U.S.-China trade problem: Beijing rejects the coercion of an American trade “enforcement mechanism” and wants to operate in the multilateral framework of WTO rules. Beiji


What are those enforceable structural reforms the U.S. wants China to implement? One of the news leaks from last week’s trade negotiations in Beijing is an example of the key blockages. China wants to work with the WTO to align its policies with existing trade rules and arbitration procedures. That is, in a nutshell, the entire U.S.-China trade problem: Beijing rejects the coercion of an American trade “enforcement mechanism” and wants to operate in the multilateral framework of WTO rules. Beiji
It’s looking like a US-China trade deal is near — and Beijing will get everything it wanted Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: dr michael ivanovitch, thomas peter, pool, getty images
Keywords: news, cnbc, companies, industry, uschina, wanted, wants, wto, chinas, near, trade, deal, looking, beijing, washington, china, transfers, apparently


It's looking like a US-China trade deal is near — and Beijing will get everything it wanted

How? Trump was apparently (ill) advised that China’s readiness to reduce the bilateral trade imbalance won’t be enough. No, Washington needed to impose on China enforceable structural reforms. Without that, as has been frequently repeated by U.S. Commerce Secretary Wilbur Ross, China’s destabilizing trade surpluses would be back in no time.

What are those enforceable structural reforms the U.S. wants China to implement?

Essentially, there are three: the protection of intellectual property, the outlawing of forced technology transfers and the cessation of illegal, market-distorting industry subsidies.

China denies any of those violations, leading to an apparently insurmountable stalemate.

It was obvious that China would not accept the claim that its economic and industrial revival was based on decades of intellectual property theft and coerced technology transfers. Beijing says that’s slander and part of Washington’s attempts to smear and contain China.

One of the news leaks from last week’s trade negotiations in Beijing is an example of the key blockages. Reportedly, China would make its industry subsidies compliant with the relevant rules of the World Trade Organization, but it is not willing to discuss that with Washington. China wants to work with the WTO to align its policies with existing trade rules and arbitration procedures. The U.S. can participate in those deliberations as any other WTO member.

Washington finds that unacceptable because it wants to keep the “enforcement control” as a trigger for trade tariffs in case it determines that China violated agreed-upon industry subsidy rules.

That is, in a nutshell, the entire U.S.-China trade problem: Beijing rejects the coercion of an American trade “enforcement mechanism” and wants to operate in the multilateral framework of WTO rules.

Those breakdown lines in a months-long technical dialogue are clear and simple. They leave nothing for the American and Chinese heads of state and government to talk about. Beijing seems to understand that, but Washington apparently believes it can still bring China into its own world.

That is an appalling ignorance of China’s statecraft.


Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: dr michael ivanovitch, thomas peter, pool, getty images
Keywords: news, cnbc, companies, industry, uschina, wanted, wants, wto, chinas, near, trade, deal, looking, beijing, washington, china, transfers, apparently


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

It’s looking like a US-China trade deal is near — and Beijing will get everything it wanted

What are those enforceable structural reforms the U.S. wants China to implement? One of the news leaks from last week’s trade negotiations in Beijing is an example of the key blockages. China wants to work with the WTO to align its policies with existing trade rules and arbitration procedures. That is, in a nutshell, the entire U.S.-China trade problem: Beijing rejects the coercion of an American trade “enforcement mechanism” and wants to operate in the multilateral framework of WTO rules. Beiji


What are those enforceable structural reforms the U.S. wants China to implement? One of the news leaks from last week’s trade negotiations in Beijing is an example of the key blockages. China wants to work with the WTO to align its policies with existing trade rules and arbitration procedures. That is, in a nutshell, the entire U.S.-China trade problem: Beijing rejects the coercion of an American trade “enforcement mechanism” and wants to operate in the multilateral framework of WTO rules. Beiji
It’s looking like a US-China trade deal is near — and Beijing will get everything it wanted Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: dr michael ivanovitch, thomas peter, pool, getty images
Keywords: news, cnbc, companies, industry, uschina, wanted, wants, wto, chinas, near, trade, deal, looking, beijing, washington, china, transfers, apparently


It's looking like a US-China trade deal is near — and Beijing will get everything it wanted

How? Trump was apparently (ill) advised that China’s readiness to reduce the bilateral trade imbalance won’t be enough. No, Washington needed to impose on China enforceable structural reforms. Without that, as has been frequently repeated by U.S. Commerce Secretary Wilbur Ross, China’s destabilizing trade surpluses would be back in no time.

What are those enforceable structural reforms the U.S. wants China to implement?

Essentially, there are three: the protection of intellectual property, the outlawing of forced technology transfers and the cessation of illegal, market-distorting industry subsidies.

China denies any of those violations, leading to an apparently insurmountable stalemate.

It was obvious that China would not accept the claim that its economic and industrial revival was based on decades of intellectual property theft and coerced technology transfers. Beijing says that’s slander and part of Washington’s attempts to smear and contain China.

One of the news leaks from last week’s trade negotiations in Beijing is an example of the key blockages. Reportedly, China would make its industry subsidies compliant with the relevant rules of the World Trade Organization, but it is not willing to discuss that with Washington. China wants to work with the WTO to align its policies with existing trade rules and arbitration procedures. The U.S. can participate in those deliberations as any other WTO member.

Washington finds that unacceptable because it wants to keep the “enforcement control” as a trigger for trade tariffs in case it determines that China violated agreed-upon industry subsidy rules.

That is, in a nutshell, the entire U.S.-China trade problem: Beijing rejects the coercion of an American trade “enforcement mechanism” and wants to operate in the multilateral framework of WTO rules.

Those breakdown lines in a months-long technical dialogue are clear and simple. They leave nothing for the American and Chinese heads of state and government to talk about. Beijing seems to understand that, but Washington apparently believes it can still bring China into its own world.

That is an appalling ignorance of China’s statecraft.


Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: dr michael ivanovitch, thomas peter, pool, getty images
Keywords: news, cnbc, companies, industry, uschina, wanted, wants, wto, chinas, near, trade, deal, looking, beijing, washington, china, transfers, apparently


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China says US report on its WTO compliance lacks factual basis

China opposes a report by the U.S. Trade Representative’s office on its World Trade Organization (WTO) compliance, the commerce ministry said, saying it is inconsistent with the facts. The report was based on U.S. domestic law rather than WTO agreements and multilateral rules, the ministry said in a statement late on Tuesday. A considerable part of the accusations against China in the report exceeded its commitments to the WTO, lacking legal and factual basis, it added. China firmly supports the


China opposes a report by the U.S. Trade Representative’s office on its World Trade Organization (WTO) compliance, the commerce ministry said, saying it is inconsistent with the facts. The report was based on U.S. domestic law rather than WTO agreements and multilateral rules, the ministry said in a statement late on Tuesday. A considerable part of the accusations against China in the report exceeded its commitments to the WTO, lacking legal and factual basis, it added. China firmly supports the
China says US report on its WTO compliance lacks factual basis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kevin lemarque
Keywords: news, cnbc, companies, world, basis, trade, china, compliance, chinas, lacks, trump, office, report, rules, representatives, wto, try, factual


China says US report on its WTO compliance lacks factual basis

China opposes a report by the U.S. Trade Representative’s office on its World Trade Organization (WTO) compliance, the commerce ministry said, saying it is inconsistent with the facts.

The report was based on U.S. domestic law rather than WTO agreements and multilateral rules, the ministry said in a statement late on Tuesday.

A considerable part of the accusations against China in the report exceeded its commitments to the WTO, lacking legal and factual basis, it added.

China firmly supports the multilateral trading system and participates in the reform of the WTO, and clearly opposes unilateralism and protectionism, it added.

Negotiating new World Trade Organization rules to try to rein in China’s “mercantilist” trade practices would be largely a futile exercise, the Trump administration’s trade office said on Monday, vowing to pursue its unilateral approach to protect U.S. workers, farmers and businesses.

The U.S. Trade Representative’s office used its annual report to Congress on China’s WTO compliance in part to justify its actions in a six-month trade war with Beijing aimed at forcing changes in China’s economic model.

President Donald Trump said last week he would meet with Chinese President Xi Jinping in coming weeks to try to seal a comprehensive trade deal with Beijing, but acknowledged it was not yet clear whether a deal could be reached.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kevin lemarque
Keywords: news, cnbc, companies, world, basis, trade, china, compliance, chinas, lacks, trump, office, report, rules, representatives, wto, try, factual


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US trade agency says efforts to rein in China with WTO rule change are futile

Negotiating new World Trade Organization rules to try to rein in China’s “mercantilist” trade practices would be largely a futile exercise, the Trump administration’s trade office said on Monday, vowing to pursue its unilateral approach to protect U.S. workers, farmers and businesses. In an annual report to Congress on China’s WTO compliance, the U.S. Trade Representative’s office said it would be “unrealistic to expect success in any negotiation of new WTO rules that would restrict China’s curr


Negotiating new World Trade Organization rules to try to rein in China’s “mercantilist” trade practices would be largely a futile exercise, the Trump administration’s trade office said on Monday, vowing to pursue its unilateral approach to protect U.S. workers, farmers and businesses. In an annual report to Congress on China’s WTO compliance, the U.S. Trade Representative’s office said it would be “unrealistic to expect success in any negotiation of new WTO rules that would restrict China’s curr
US trade agency says efforts to rein in China with WTO rule change are futile Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: jason lee, afp, getty images
Keywords: news, cnbc, companies, rule, china, chinese, wto, chinas, change, discussions, changes, agency, rein, practices, rules, countries, trade, met, efforts, futile


US trade agency says efforts to rein in China with WTO rule change are futile

Negotiating new World Trade Organization rules to try to rein in China’s “mercantilist” trade practices would be largely a futile exercise, the Trump administration’s trade office said on Monday, vowing to pursue its unilateral approach to protect U.S. workers, farmers and businesses.

In an annual report to Congress on China’s WTO compliance, the U.S. Trade Representative’s office said it would be “unrealistic to expect success in any negotiation of new WTO rules that would restrict China’s current approach to the economy and trade in a meaningful way.”

The report shed little light on any progress made in bilateral talks between the United States and China. The discussions are swiftly approaching a March 2 deadline when the United States has said it will ratchet up tariffs on $200 billion of Chinese goods, lifting them to 25 percent from 10 percent.

Some U.S. allies, including Japan, Canada and the European Union, have begun discussions on the first potential changes and modernizations of WTO rules since the organization’s founding in 1995.

But any WTO rule changes must be agreed by all of the trade body’s 164 member countries, and past efforts have stalled. USTR said it is “highly unlikely” that China would agree to new disciplines targeting changes to its trade practices and economic system.

Chinese officials met with U.S. counterparts in Washington last week for two days of discussions to address U.S. concerns over China’s trade and business practices. Those include key structural issues on forced technology transfer, industrial subsidies, market access and intellectual property rights.

The talks showed signs of progress, with U.S. President Donald Trump saying he would meet with Chinese President Xi Jinping. The two countries have been engaged in a tit-for-tat tariff battle since the middle of 2018, when Washington slapped duties on Chinese goods. Those were met with retaliation from Beijing. The escalating dispute has cost both countries billions of dollars and roiled global financial markets.

The two presidents agreed to a 90-day ceasefire when they met in Buenos Aires in late November. It is less than a month away from that deadline.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: jason lee, afp, getty images
Keywords: news, cnbc, companies, rule, china, chinese, wto, chinas, change, discussions, changes, agency, rein, practices, rules, countries, trade, met, efforts, futile


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Traders start to question sterling’s value as Brexit reaches deadlock

Brexit has entered a standoff phase and sterling traders could be underestimating the possibility of a “no-deal” scenario. Last week’s votes in the U.K. Parliament sent conflicting messages to Brussels. But a similar majority also voted to change the existing Withdrawal Agreement that Prime Minister Theresa May agreed with the EU last year. EU officials have been quick to reject the latter as a possibility, and Gallo believes we are now in a “game of chicken” between Brussels and the U.K. govern


Brexit has entered a standoff phase and sterling traders could be underestimating the possibility of a “no-deal” scenario. Last week’s votes in the U.K. Parliament sent conflicting messages to Brussels. But a similar majority also voted to change the existing Withdrawal Agreement that Prime Minister Theresa May agreed with the EU last year. EU officials have been quick to reject the latter as a possibility, and Gallo believes we are now in a “game of chicken” between Brussels and the U.K. govern
Traders start to question sterling’s value as Brexit reaches deadlock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: david reid, victoria jones – pa images, pa images, getty images
Keywords: news, cnbc, companies, question, wto, brexit, sterling, agreement, deadlock, sterlings, traders, possibility, reaches, markets, brussels, uk, gallo, yeareu, value, start


Traders start to question sterling's value as Brexit reaches deadlock

Brexit has entered a standoff phase and sterling traders could be underestimating the possibility of a “no-deal” scenario.

“Which side will ‘blink first?’ We are not sure, but investors need to assign a reasonably high probability that neither side blinks at all,” Stephen Gallo, the European head of foreign exchange at BMO Capital Markets, said a recent research note.

Last week’s votes in the U.K. Parliament sent conflicting messages to Brussels. On the one hand, most lawmakers indicated they would not support a “no deal” eventuality, where Britain leaves without a formal agreement and has to reply on WTO trading rules. But a similar majority also voted to change the existing Withdrawal Agreement that Prime Minister Theresa May agreed with the EU last year.

EU officials have been quick to reject the latter as a possibility, and Gallo believes we are now in a “game of chicken” between Brussels and the U.K. government. He said the current spot price for sterling versus the dollar, just above at $1.30, didn’t factor in as much Brexit risk as other markets.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: david reid, victoria jones – pa images, pa images, getty images
Keywords: news, cnbc, companies, question, wto, brexit, sterling, agreement, deadlock, sterlings, traders, possibility, reaches, markets, brussels, uk, gallo, yeareu, value, start


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China accuses US of a ‘blatant breach’ of trade policy in WTO meeting

Chinese representatives met with the World Trade Organization on Monday to begin the process of legally challenging United States tariffs on China’s exports, Reuters reported, citing a transcript of the meeting’s discussion. “This is a blatant breach of the United States’ obligations under the WTO agreements and is posing a systemic challenge to the multilateral trading system,” a Chinese representative said in the meeting. “If the United States were free to continue infringing these principles


Chinese representatives met with the World Trade Organization on Monday to begin the process of legally challenging United States tariffs on China’s exports, Reuters reported, citing a transcript of the meeting’s discussion. “This is a blatant breach of the United States’ obligations under the WTO agreements and is posing a systemic challenge to the multilateral trading system,” a Chinese representative said in the meeting. “If the United States were free to continue infringing these principles
China accuses US of a ‘blatant breach’ of trade policy in WTO meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: michael sheetz, kevin lemarque
Keywords: news, cnbc, companies, organization, breach, transcript, chinese, blatant, trading, states, united, trade, accuses, world, china, policy, viability, wto, meeting


China accuses US of a 'blatant breach' of trade policy in WTO meeting

Chinese representatives met with the World Trade Organization on Monday to begin the process of legally challenging United States tariffs on China’s exports, Reuters reported, citing a transcript of the meeting’s discussion.

“This is a blatant breach of the United States’ obligations under the WTO agreements and is posing a systemic challenge to the multilateral trading system,” a Chinese representative said in the meeting. “If the United States were free to continue infringing these principles without consequences, the future viability of this organization is in dire peril.”


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: michael sheetz, kevin lemarque
Keywords: news, cnbc, companies, organization, breach, transcript, chinese, blatant, trading, states, united, trade, accuses, world, china, policy, viability, wto, meeting


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post