China eyeing Trump’s late May Japan trip for potential Xi summit

One trip in particular that’s risen to the top of the list: Trump’s expected visit to Japan at the end of May, putting him in the Asia-Pacific region around the time negotiations are expected to conclude. An administration official acknowledged holding the summit in Asia is China’s preference, though it remains unclear where the final location will be. Trump has said the summit could happen on either continent and that he expects a resolution by the end of May. The two sides have been discussing


One trip in particular that’s risen to the top of the list: Trump’s expected visit to Japan at the end of May, putting him in the Asia-Pacific region around the time negotiations are expected to conclude. An administration official acknowledged holding the summit in Asia is China’s preference, though it remains unclear where the final location will be. Trump has said the summit could happen on either continent and that he expects a resolution by the end of May. The two sides have been discussing
China eyeing Trump’s late May Japan trip for potential Xi summit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: kayla tausche
Keywords: news, cnbc, companies, president, trump, potential, negotiations, xi, china, visit, trip, late, end, trumps, japan, eyeing, summit


China eyeing Trump's late May Japan trip for potential Xi summit

As the U.S. and China work through the final stages of trade negotiations, Chinese officials are identifying international travel dates on President Donald Trump’s calendar that might offer potential for a summit off of U.S. soil, according to three sources briefed on negotiations.

One trip in particular that’s risen to the top of the list: Trump’s expected visit to Japan at the end of May, putting him in the Asia-Pacific region around the time negotiations are expected to conclude.

Neither the White House nor the Embassy of Japan would confirm the trip, in which Trump would be the first foreign leader received by Crown Prince Naruhito after he accedes to the throne on May 1.

But the three sources briefed on the negotiations, requesting anonymity to protect their relationships with the Trump administration, said it’s one option being considered. An administration official acknowledged holding the summit in Asia is China’s preference, though it remains unclear where the final location will be. Trump has said the summit could happen on either continent and that he expects a resolution by the end of May.

“I would say we’ll know over the next four weeks,” Trump told reporters gathered in the Oval Office on April 5 for an event with the Chinese vice premier. “It may take two weeks after that to get it papered, but over the next fairly short period of time, we’re going to know.”

While that timeline would put the target end date right around Trump’s trip to Japan, Treasury Secretary Steven Mnuchin said talks would not be bound by an “arbitrary timeline,” and the South China Morning Post threw cold water on a deal being done by then.

Erin Ennis, senior vice president at the US-China Business Council, suggested a later June meeting – perhaps on the sidelines of the G20 at the end of the month – would be more feasible.

“It seems like both sides want to have the deal completed first before they’re willing to discuss when and where a summit would happen,” Ennis told CNBC.

In late January, China initially invited Pres. Trump to meet Pres. Xi on the island of Hainan in the South China Sea. The White House countered with Mar-a-Lago, one venue that still remains under consideration. But China has also suggested that if its president were to travel to the U.S. solely to announce a trade agreement, it would need to be in the form of an official state visit. The two sides have been discussing a potential state visit by Xi since 2018.

The May 26-28 trip was previously reported by the Japan Times.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: kayla tausche
Keywords: news, cnbc, companies, president, trump, potential, negotiations, xi, china, visit, trip, late, end, trumps, japan, eyeing, summit


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Europe may be playing spoiler to the elusive US-China trade deal

The trade statistics from the U.S. Commerce Department indicate that — on Trump’s watch — China pocketed a U.S. trade surplus of $829.3 billion between January 2017 and January 2019 (the latest U.S. data point available). I believe that the Chinese are making a mistake by challenging the U.S. on such a sensitive issue. Had Beijing made such a gesture of smart statecraft, it would have smoothed the way to a fast and reasonable trade agreement. China has now become the EU’s second-largest trade pa


The trade statistics from the U.S. Commerce Department indicate that — on Trump’s watch — China pocketed a U.S. trade surplus of $829.3 billion between January 2017 and January 2019 (the latest U.S. data point available). I believe that the Chinese are making a mistake by challenging the U.S. on such a sensitive issue. Had Beijing made such a gesture of smart statecraft, it would have smoothed the way to a fast and reasonable trade agreement. China has now become the EU’s second-largest trade pa
Europe may be playing spoiler to the elusive US-China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: dr michael ivanovitch, alessia pierdomenico, bloomberg, getty images
Keywords: news, cnbc, companies, spoiler, uschina, elusive, xi, eu, trade, chinese, beijing, deal, united, billion, visit, china, europe, playing, surplus


Europe may be playing spoiler to the elusive US-China trade deal

The trade statistics from the U.S. Commerce Department indicate that — on Trump’s watch — China pocketed a U.S. trade surplus of $829.3 billion between January 2017 and January 2019 (the latest U.S. data point available).

I believe that the Chinese are making a mistake by challenging the U.S. on such a sensitive issue. Granting that Washington may have gone too far in its attempts to control China’s economic policies, Beijing still could have – and should have – preempted all that by reducing its sales to the U.S. while stepping up purchases of American goods and services. That would have shown Beijing’s determination to substantially run down its excessive, and unsustainable, surpluses on U.S. trades.

Had Beijing made such a gesture of smart statecraft, it would have smoothed the way to a fast and reasonable trade agreement. And it is quite possible that such a gesture could have also opened up a new chapter of friendlier, more cooperative and more productive bilateral relations.

Indeed, Chinese President Xi Jinping cannot expect his idea of a “great power relationship” to work while China continues to maintain an excessively unbalanced trade relationship with the United States.

Beijing, of course, has its own reasons for doing what it’s doing, and its attitude on trade issues reflects a much broader view of its relations with Washington.

It is also very likely that China could have been encouraged in its intransigence on U.S. trade by the fact that America’s close friends and allies are all flocking to Beijing in search of trade and investments.

China has now become the EU’s second-largest trade partner, closely behind the United States. Beijing’s share of EU trade has tripled since 2000 to 15.4 percent, and is now only slightly below the U.S. share of 17.1 percent. The big difference is that last year the EU ran a 184 billion euro trade deficit with China, while recording a 140 billion euro trade surplus with the U.S.

A recent visit to Europe by Xi in late March followed by last week’s visit of Chinese Premier Li Keqiang are the latest indications of how much the U.S. “trade war” with China differs from majestic welcoming ceremonies and an eager search for mutually beneficial relations the Chinese statesmen have encountered during their trips to Italy, France, the EU Commission and the Balkans for an annual summit with Central and East European leaders.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: dr michael ivanovitch, alessia pierdomenico, bloomberg, getty images
Keywords: news, cnbc, companies, spoiler, uschina, elusive, xi, eu, trade, chinese, beijing, deal, united, billion, visit, china, europe, playing, surplus


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘New consensus’ reached on US-China trade, says Chinese Vice Premier Liu He

Xi said he hopes both sides will continue to work together to conclude talks on the trade text as early as possible, Xinhua reported. Trump said on Thursday that “we’ll know over the next four weeks” if the two countries have a deal. Greater China markets were closed on Friday. The Trump administration imposed additional tariffs on $250 billion in Chinese imports, while Beijing slapped duties on $110 billion of American goods. Representatives from both countries have been meeting to address thei


Xi said he hopes both sides will continue to work together to conclude talks on the trade text as early as possible, Xinhua reported. Trump said on Thursday that “we’ll know over the next four weeks” if the two countries have a deal. Greater China markets were closed on Friday. The Trump administration imposed additional tariffs on $250 billion in Chinese imports, while Beijing slapped duties on $110 billion of American goods. Representatives from both countries have been meeting to address thei
‘New consensus’ reached on US-China trade, says Chinese Vice Premier Liu He Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: yen nee lee
Keywords: news, cnbc, companies, premier, vice, sides, trade, xinhua, markets, trump, issues, uschina, liu, reached, consensus, chinese, china, countries, xi


'New consensus' reached on US-China trade, says Chinese Vice Premier Liu He

This is what a US-China trade deal may look like 22 Hours Ago | 02:13

Chinese President Xi Jinping, through a message conveyed by Liu, told Trump that both sides have made new and substantial progress on key issues regarding trade in the past month, according to Xinhua. Xi said he hopes both sides will continue to work together to conclude talks on the trade text as early as possible, Xinhua reported.

Trump said on Thursday that “we’ll know over the next four weeks” if the two countries have a deal.

Greater China markets were closed on Friday.

The U.S. and China — the two largest economies in the world — are engaged in a tariff fight that started last year. The Trump administration imposed additional tariffs on $250 billion in Chinese imports, while Beijing slapped duties on $110 billion of American goods.

Representatives from both countries have been meeting to address their differences on issues such a trade imbalance and alleged forced technology transfers from American firms to their Chinese partners. Tensions between the U.S. and China have roiled global markets and hit economic activity worldwide.

— CNBC’s Jacob Pramuk and Kayla Tausche contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: yen nee lee
Keywords: news, cnbc, companies, premier, vice, sides, trade, xinhua, markets, trump, issues, uschina, liu, reached, consensus, chinese, china, countries, xi


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

After China, the US will ratchet up trade tensions with the EU, OECD chief economist warns

Once the U.S. and China have reached a trade deal, the world’s largest economy will amplify tensions with the European Union, according to the chief economist of the Organization for Economic Co-operation and Development (OECD). Her comments come as market participants continue to monitor the prospect of a comprehensive trade agreement between Washington and Beijing. On Thursday, President Donald Trump said the U.S. had found common ground on some of the toughest points in trade talks, adding a


Once the U.S. and China have reached a trade deal, the world’s largest economy will amplify tensions with the European Union, according to the chief economist of the Organization for Economic Co-operation and Development (OECD). Her comments come as market participants continue to monitor the prospect of a comprehensive trade agreement between Washington and Beijing. On Thursday, President Donald Trump said the U.S. had found common ground on some of the toughest points in trade talks, adding a
After China, the US will ratchet up trade tensions with the EU, OECD chief economist warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: sam meredith, vcg, getty images, win mcnamee
Keywords: news, cnbc, companies, warns, chief, tensions, eu, economist, trade, oecd, worlds, points, president, world, china, deal, ratchet, xi


After China, the US will ratchet up trade tensions with the EU, OECD chief economist warns

Once the U.S. and China have reached a trade deal, the world’s largest economy will amplify tensions with the European Union, according to the chief economist of the Organization for Economic Co-operation and Development (OECD).

Her comments come as market participants continue to monitor the prospect of a comprehensive trade agreement between Washington and Beijing.

On Thursday, President Donald Trump said the U.S. had found common ground on some of the toughest points in trade talks, adding a deal could be agreed in the next four weeks.

Chinese President Xi Jinping reportedly echoed the optimism over a possible deal, but the White House warned some sticking points remain unresolved.

“Even once we are done with the U.S. and China, the U.S. will turn to Europe,” Laurence Boone, chief economist at OECD, told CNBC’s Steve Sedgwick at the Ambrosetti Workshop in Italy on Friday.

“So, I think by undermining the multi-lateral rules-based system on trade, we have just injected a massive dose of uncertainty in the world that will stay with us for a long time.”


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: sam meredith, vcg, getty images, win mcnamee
Keywords: news, cnbc, companies, warns, chief, tensions, eu, economist, trade, oecd, worlds, points, president, world, china, deal, ratchet, xi


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Airbus wins China order for 300 jets as Xi Jinping visits France

Airbus signed a deal worth tens of billions of dollars on Monday to sell 300 aircraft to China, coinciding with a visit to Europe by Chinese President Xi Jinping and matching a China record held by U.S. rival Boeing. The deal between Airbus and China’s state buying agency, China Aviation Supplies Holding Company, which regularly coordinates headline-grabbing deals during diplomatic visits, will include 290 A320-family jets and 10 A350 wide-body jets. French officials said the deal was worth some


Airbus signed a deal worth tens of billions of dollars on Monday to sell 300 aircraft to China, coinciding with a visit to Europe by Chinese President Xi Jinping and matching a China record held by U.S. rival Boeing. The deal between Airbus and China’s state buying agency, China Aviation Supplies Holding Company, which regularly coordinates headline-grabbing deals during diplomatic visits, will include 290 A320-family jets and 10 A350 wide-body jets. French officials said the deal was worth some
Airbus wins China order for 300 jets as Xi Jinping visits France Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: yoan valat, afp, getty images
Keywords: news, cnbc, companies, china, airbus, state, wins, jets, worth, order, xi, visits, 300, boeing, significant, jinping, france, trade, deal


Airbus wins China order for 300 jets as Xi Jinping visits France

Airbus signed a deal worth tens of billions of dollars on Monday to sell 300 aircraft to China, coinciding with a visit to Europe by Chinese President Xi Jinping and matching a China record held by U.S. rival Boeing.

The deal between Airbus and China’s state buying agency, China Aviation Supplies Holding Company, which regularly coordinates headline-grabbing deals during diplomatic visits, will include 290 A320-family jets and 10 A350 wide-body jets.

French officials said the deal was worth some 30 billion euros at catalog prices. Planemakers usually grant significant discounts.

The larger-than-expected order, which matches an order for 300 Boeing planes when U.S. Donald Trump visited Beijing in 2017, follows a year-long vacuum of purchases in which China failed to place significant orders amid global trade tensions.

It also comes as the grounding of the Boeing 737 Max has left uncertainty over Boeing’s immediate hopes for a major jet order as the result of any warming of U.S.-China trade ties.

There was no evidence of any direct connection between the Airbus deal and Sino-U.S. tensions or Boeing fleet problems, but China watchers say Beijing has a history of sending diplomatic signals or playing off suppliers through state aircraft deals.

“The conclusion of a big (aviation) contract … is an important step forward and an excellent signal in the current context,” French President Emmanuel Macron said in a joint address with his Chinese counterpart.

The United States and China are edging towards a possible deal to ease a months-long tariff row and a deal involving as many as 200 to 300 Boeing jets had until recently been expected as part of the possible rapprochement.


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: yoan valat, afp, getty images
Keywords: news, cnbc, companies, china, airbus, state, wins, jets, worth, order, xi, visits, 300, boeing, significant, jinping, france, trade, deal


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Italy joining China’s Belt and Road project is ‘geopolitically unwise,’ former prime minister says

Italy’s former prime minister doesn’t approve of the current government’s newly inked partnership with China, calling the decision “unwise” during a conversation with CNBC Monday. “Politically, geopolitically, I deem (it) really unwise from the Italian government to take such a decision without coordination with the European Union and our allies,” Paolo Gentiloni, who served as prime minister from 2016 to 2018, told CNBC’s “Squawk Box Europe.” “Europe is showing its divisions toward China, and t


Italy’s former prime minister doesn’t approve of the current government’s newly inked partnership with China, calling the decision “unwise” during a conversation with CNBC Monday. “Politically, geopolitically, I deem (it) really unwise from the Italian government to take such a decision without coordination with the European Union and our allies,” Paolo Gentiloni, who served as prime minister from 2016 to 2018, told CNBC’s “Squawk Box Europe.” “Europe is showing its divisions toward China, and t
Italy joining China’s Belt and Road project is ‘geopolitically unwise,’ former prime minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: natasha turak
Keywords: news, cnbc, companies, belt, decision, unwise, energy, worth, xi, italy, italian, project, china, billion, road, geopolitically, joining, prime, chinas, minister


Italy joining China's Belt and Road project is 'geopolitically unwise,' former prime minister says

Italy’s former prime minister doesn’t approve of the current government’s newly inked partnership with China, calling the decision “unwise” during a conversation with CNBC Monday.

“Politically, geopolitically, I deem (it) really unwise from the Italian government to take such a decision without coordination with the European Union and our allies,” Paolo Gentiloni, who served as prime minister from 2016 to 2018, told CNBC’s “Squawk Box Europe.”

“Europe is showing its divisions toward China, and this is not something that will strengthen our position even on trade.”

The Italian government stirred up fresh controversy over the weekend as it officially agreed to join China’s massive Belt and Road Initiative (BRI), becoming the first EU and Group of 7 country to do so.

Chinese President Xi Jinping’s visit to Rome saw a total of 29 deals signed, altogether worth 2.5 billion euros ($2.8 billion). They were focused on agricultural, finance and energy sectors, and opened up new access to the Chinese market for major Italian energy and engineering firms.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: natasha turak
Keywords: news, cnbc, companies, belt, decision, unwise, energy, worth, xi, italy, italian, project, china, billion, road, geopolitically, joining, prime, chinas, minister


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Investor: The US and China will reach a deal, then markets will jump 15%

And, by end June, (the) deal would be signed,” Wong told CNBC’s “Street Signs” on Friday. Wong’s prediction follows the market rally that began at the beginning of this year, roughly coinciding with investors’ increasing expectations that a U.S.-China trade deal could be inked. “Now the investors in China or around the world are expecting a deal to be done. From there, Wong said, markets will be set for another leg up once Trump and Xi reach an accord. China wants all tariffs lifted, and the U.S


And, by end June, (the) deal would be signed,” Wong told CNBC’s “Street Signs” on Friday. Wong’s prediction follows the market rally that began at the beginning of this year, roughly coinciding with investors’ increasing expectations that a U.S.-China trade deal could be inked. “Now the investors in China or around the world are expecting a deal to be done. From there, Wong said, markets will be set for another leg up once Trump and Xi reach an accord. China wants all tariffs lifted, and the U.S
Investor: The US and China will reach a deal, then markets will jump 15% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-22  Authors: tang sue-anne, artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, tariffs, markets, 15, bit, trade, jump, wong, trump, end, china, investor, deal, reach, xi, investors


Investor: The US and China will reach a deal, then markets will jump 15%

Despite all the back and forth between Donald Trump and Xi Jinping’s negotiating teams, the U.S. and China will ultimately come to a trade agreement, according to one investor.

When that happens, markets could soar 15 percent or more for the rest of the year, said Jackson Wong, associate director at Huarong International Securities.

“The rumor is (that by the) end of April, the deal would be 90 percent done. And, by end June, (the) deal would be signed,” Wong told CNBC’s “Street Signs” on Friday.

Wong’s prediction follows the market rally that began at the beginning of this year, roughly coinciding with investors’ increasing expectations that a U.S.-China trade deal could be inked.

“Now the investors in China or around the world are expecting a deal to be done. They have been expecting since the end of last year. So I think the market has been rallying from that point on,” he said.

The ongoing rally, he said, may continue a bit, but there is also a chance it could “consolidate around the current level for about maybe a few weeks.” From there, Wong said, markets will be set for another leg up once Trump and Xi reach an accord.

Such a deal could also have a positive impact on the real economy worldwide, he said.

His analysis comes amid the ongoing trade war between the world’s two largest economies that began about one year ago. That escalating fight has seen rounds of tariffs imposed on items ranging from soybeans to steel, attempts at reconciliation, and Trump declaring the benefits of a trade war on Twitter. Tensions have eased since the presidents of both nations agreed in December to pause any further tariffs while negotiations continued.

The negotiations are focused on both reducing the U.S. trade deficit with China and eliminating some of the systemic impediments to foreign firms succeeding in Asia’s largest economy.

Wong acknowledged that there have been differences of opinion on both sides, but he said he remains positive that both parties will be able to reach a consensus.

“Talks are going not bad,” Wong told CNBC. “The main differences, in my point of view, (are) solvable. China wants all tariffs lifted, and the U.S. wants a say in the new intellectual property theft and transfer policies.”

“If both countries give in a little bit, so maybe, you know, the tariffs will stay a little bit longer, and then China would give (the U.S.) more control over policies, then they can have a final deal,” he said.

Nonetheless, Wong said, the U.S.-China relationship is still rather weak.

“Both countries are standing on very fragile grounds and any sudden move on either side would break the trust on each other,” he said. “Investors are still cautious and nervous about that until they can decide a date that Donald Trump and Xi Jinping can meet. Otherwise, anything can be a wildcard.”


Company: cnbc, Activity: cnbc, Date: 2019-03-22  Authors: tang sue-anne, artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, tariffs, markets, 15, bit, trade, jump, wong, trump, end, china, investor, deal, reach, xi, investors


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Europe turns its concerns to China’s growing clout as Xi visits

“To safeguard against potential serious security implications for critical digital infrastructure, a common EU approach to the security of 5G networks is needed.” That has given China maximum leverage in negotiating with EU member countries, almost exclusively on a bilateral basis. During the Cold War, the European Union and the United States achieved a far more elaborate and coherent approach in response to a far less resourceful competitor. The European Union needs a coherent strategy toward C


“To safeguard against potential serious security implications for critical digital infrastructure, a common EU approach to the security of 5G networks is needed.” That has given China maximum leverage in negotiating with EU member countries, almost exclusively on a bilateral basis. During the Cold War, the European Union and the United States achieved a far more elaborate and coherent approach in response to a far less resourceful competitor. The European Union needs a coherent strategy toward C
Europe turns its concerns to China’s growing clout as Xi visits Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: fred kempe, michele tantussi, getty images
Keywords: news, cnbc, companies, eu, week, united, member, visits, approach, chinas, turns, clout, china, states, xi, growing, europe, european, union, concerns, members


Europe turns its concerns to China's growing clout as Xi visits

Chinese President Xi Jinping will visit Italy and France next week amid a European Union firestorm over the dangers of rapidly growing Chinese trade and investments – particularly regarding next-generation telecom technology – and intensifying divisions among its members about how to deal with them.

Western media coverage has understandably focused on the unfolding Brexit drama in London, where British lawmakers failed to agree on a viable path forward. However, what went under-reported was that at the same time the EU took its most significant steps yet – though belated and insufficient – to address China’s increasingly assertive and state-subsidized push into Europe.

After months of study, the European Commission released its “EU-China: Strategic Outlook,” included the clearest and toughest language yet toward China in an EU document. After years of a more benign approach to Beijing, it branded China as “an economic competitor in the pursuit of technological leadership, and a systemic rival promoting alternative models of governance.”

That marks a major shift in thinking ahead of next Thursday’s EU Council meeting in Brussels, bringing together all 28-member country leaders to discuss China the day before Xi lands in Rome. Although the document is couched in diplomatic language, calling upon the EU to “deepen its engagement with China to promote common interests at a global level,” its message is unmistakable on critical infrastructure and Europe’s tech base.

“5G networks will provide the future backbone to our societies and economies, connecting billions of objects and systems, including sensitive information and communications technology systems in crucial sectors,” it says. “To safeguard against potential serious security implications for critical digital infrastructure, a common EU approach to the security of 5G networks is needed.”

To achieve that, the Commission said it will lay out a path following the EU Council meeting. What’s unclear is how effective any approach would be, which would require buy in from 28 nations – 27, if Brexit goes through – which view China through vastly differently lenses.

The challenge is that China for some time has executed a clear plan that has put Europe increasingly at the heart of its global political and economic strategy while Europe has lacked any unified policy of approach of its own. That has given China maximum leverage in negotiating with EU member countries, almost exclusively on a bilateral basis.

Even worse, instead of joining in common cause regarding China, the United States and European Union have been bickering over trade and a host of other issues, from Iran to defense spending. During the Cold War, the European Union and the United States achieved a far more elaborate and coherent approach in response to a far less resourceful competitor.

Greater coordination inside Europe and across the Atlantic could bring considerably more leverage to the negotiating table. The combined EU-US GDP in 2017 of more than $36 trillion was nearly triple that of China, and even the EU GDP alone of more than $17.3 trillion eclipses the $12.2 trillion of Beijing. Instead, China comes to the table with the full weight of six times more GDP than that of Italy, which next week could become the first G-7 member state to endorse China’s Belt and Road Initiative.

China has had similar leverage in the Balkans, where the European Union and the United States have had increased concerns through its heavy investments through its 16+1 format that groups 11 Central European members of the EU with five non-EU members who may over time become candidates – Albania, Bosnia and Herzegovina, Macedonia, Montenegro and Serbia.

Johannes Hahn, the EU commissioner responsible for enlargement, recently expressed concern that the EU “overestimated Russia and underestimated China” in the Balkans. What concerns him is that heavy borrowing from China among the region’s countries could imperil their already weak economies – and more than half the $9.4 billion in Chinese investments in the region in 2016 and 2017 went to the non-EU countries of this group.

The more immediate concern next week comes in Italy, where the government may sign a leaked memorandum of understanding with China regarding its Belt and Road Initiative, and cooperate in the development of “roads, railways, bridges, civil aviation, ports, energy and telecommunications.”

Italy wouldn’t be the first EU country to sign a BRI deal with China, but it has attracted the most attention because it would be the largest to do so, it is a founding member of the EU, and it is a member of the G7. The agreement would also happen despite disagreements within the Italian government (the foreign ministry is reported to have been cut out) and misgivings among other EU countries. It would happen shortly before an EU-China leaders’ summit on April 9.

At a time when the U.S. should be working more closely with the EU to frame a unified transatlantic approach to China, the atmosphere is instead colored by mistrust.

European leaders worry about President Trump’s indications that he might change his approach toward Huawei as a security threat if China compromises on trade, including an intervention in the potential extradition and prosecution of the Huawei CFO.

The Germans chafed at a letter made public last week from U.S. Ambassador to Germany Richard Grenell to German Economy Minister Peter Altmaier. It stated that U.S. intelligence cooperation with Germany would suffer if the German government allowed Huawei into its 5G networks.

President Xi’s visit to Europe, and then again on April 9 for an EU Summit, should trigger what ought to have happened long ago. The European Union needs a coherent strategy toward China that will unite its members. The United States needs to develop a similar strategy of its own, then join transatlantic talks to galvanize democracies to confront what the EU itself called a “systemic rival.”

The urgent need for a common approach to China should, excuse the term, trump other transatlantic differences.

Frederick Kempe is a best-selling author, prize-winning journalist and president & CEO of the Atlantic Council, one of the United States’ most influential think tanks on global affairs. He worked at The Wall Street Journal for more than 25 years as a foreign correspondent, assistant managing editor and as the longest-serving editor of the paper’s European edition. His latest book – “Berlin 1961: Kennedy, Khrushchev, and the Most Dangerous Place on Earth” – was a New York Times best-seller and has been published in more than a dozen languages. Follow him on Twitter @FredKempe and subscribe here to Inflection Points, his look each Saturday at the past week’s top stories and trends.

For more insight from CNBC contributors, follow @CNBCopinion on Twitter.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: fred kempe, michele tantussi, getty images
Keywords: news, cnbc, companies, eu, week, united, member, visits, approach, chinas, turns, clout, china, states, xi, growing, europe, european, union, concerns, members


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump says he is in ‘no rush’ to complete US-China trade deal

U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations. “I think President Xi saw that I’m somebody that believes in walking when the deal is not done, and you know there’s always a chance it could happen and he probably wouldn’t want that,” Trump said. China has not made any public comment confirming Xi i


U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations. “I think President Xi saw that I’m somebody that believes in walking when the deal is not done, and you know there’s always a chance it could happen and he probably wouldn’t want that,” Trump said. China has not made any public comment confirming Xi i
Trump says he is in ‘no rush’ to complete US-China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, completed, trade, meeting, uschina, summit, xi, president, property, deal, rush, complete, inperson, trump


Trump says he is in 'no rush' to complete US-China trade deal

U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations.

Trump and Chinese President Xi Jinping had been expected to hold a summit at the president’s Mar-a-Lago property in Florida later this month, but no date has been set for a meeting and no in-person talks between their trade teams have been held in more than two weeks.

The president, speaking to reporters at the White House, said he thought there was a good chance a deal would be made, in part because China wanted one after suffering from U.S. tariffs on its goods.

But he acknowledged Xi may be wary of coming to a summit without an agreement in hand after seeing Trump end a separate summit in Vietnam with North Korean leader Kim Jong Un without a peace deal.

“I think President Xi saw that I’m somebody that believes in walking when the deal is not done, and you know there’s always a chance it could happen and he probably wouldn’t want that,” Trump said.

China has not made any public comment confirming Xi is considering going to meet Trump in Florida or elsewhere.

The president, who likes to emphasize his own deal-making abilities, said an agreement to end a months-long trade war could be finished ahead of a presidential meeting or completed in-person with his counterpart.

“We could do it either way. We could have the deal completed and come and sign, or we could get the deal almost completed and negotiate some of the final points. I would prefer that,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, completed, trade, meeting, uschina, summit, xi, president, property, deal, rush, complete, inperson, trump


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China suggests linking official state visit by Xi to Trump trade deal: Sources

With a U.S.-China trade deal at least weeks away, Chinese negotiators have suggested combining a long-discussed state visit by President Xi Jinping to the United States with the announcement of any forthcoming agreement, according to three sources briefed on discussions. “Our hope is we are in the final weeks of having an agreement,” Robert Lighthizer, the Trump administration’s top trade official, testified to the Senate Finance Committee on Tuesday. “If those issues are not resolved in favor o


With a U.S.-China trade deal at least weeks away, Chinese negotiators have suggested combining a long-discussed state visit by President Xi Jinping to the United States with the announcement of any forthcoming agreement, according to three sources briefed on discussions. “Our hope is we are in the final weeks of having an agreement,” Robert Lighthizer, the Trump administration’s top trade official, testified to the Senate Finance Committee on Tuesday. “If those issues are not resolved in favor o
China suggests linking official state visit by Xi to Trump trade deal: Sources Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: kayla tausche, jim watson, afp, getty images
Keywords: news, cnbc, companies, visit, united, official, xi, issues, weeks, linking, negotiators, trump, trade, sources, deal, talks, suggests, meeting, state


China suggests linking official state visit by Xi to Trump trade deal: Sources

With a U.S.-China trade deal at least weeks away, Chinese negotiators have suggested combining a long-discussed state visit by President Xi Jinping to the United States with the announcement of any forthcoming agreement, according to three sources briefed on discussions.

The two countries had been planning a meeting between the two leaders at President Donald Trump’s private Mar-a-Lago resort in Florida to follow Xi’s late-March visit to Europe, to avoid the optics of a standalone trip to announce a trade deal on U.S. soil.

But U.S. officials have suggested there are too many outstanding details to conclude negotiations by then, making a meeting in March unlikely.

“Our hope is we are in the final weeks of having an agreement,” Robert Lighthizer, the Trump administration’s top trade official, testified to the Senate Finance Committee on Tuesday. But Lighthizer would not commit to a positive outcome, or a resulting meeting, and said many issues remain. “If those issues are not resolved in favor of the United States, we won’t have a deal.”

Since the two countries brokered a temporary truce at the G-20, U.S. negotiators have been seeking commitments and concessions up front, while Chinese negotiators had sought to shelve complicated issues for the two presidents to settle in person.

But that dynamic changed, the three people briefed on the talks said, when Trump walked out on talks with Kim Jong Un in Hanoi, Vietnam, after North Korea sought an end to sanctions. Beijing now wants a deal fully locked in before its leader sits down with Trump, although Trump would still prefer to close the deal himself.

“We could have the deal completed and come and sign — or we can get the deal almost completed and negotiate some of the final points,” Trump said Wednesday. “I would prefer that.”


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: kayla tausche, jim watson, afp, getty images
Keywords: news, cnbc, companies, visit, united, official, xi, issues, weeks, linking, negotiators, trump, trade, sources, deal, talks, suggests, meeting, state


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post