China trade: tariff and non-tariff barriers
- Author: Zachary Reyes Feb 28, 2019,
Feb 28, 2019, 18:44
Trump tweeted that the two sides had made "substantial progress" on structural issues, including protection of intellectual property and an end to the forced transfer of US technology.
Trump has issued positive but cryptic statements and tweets about the delay and the nature of progress made at the weekend, saying that a deal with Beijing is "very, very close" and talking about a "signing summit" with Chinese President Xi Jinping.
The survey of 314 USA businesses by the American Chamber of Commerce in China provided a full accounting of challenges U.S. businesses face after Beijing and Washington exchanged tit-for-tat tariffs on billions of dollars in two-way trade.
Investors were also looking ahead to an appearance by Fed Chairman Jerome Powell before a U.S. Senate committee on Tuesday.
Volume on USA exchanges was 7.36 billion shares, compared with the 7.32 billion average for the last 20 trading days.
The Shanghai Composite Index rose 5.6 percent to 2,961.28, its highest close since June 15, and Trump said the negotiations in Washington made "substantial progress".
US crude lost 3.1 percent to settle at $55.48 a barrel in NY after Trump criticized rising oil prices in an early morning tweet.
He did not say when this signing would take place but suggested that it might happen sometime in March should talks continue to progress.
Recent tariffs imposed by the Trump administration have cost US businesses 2.7 billion USA dollars in November 2018 alone, according to data released by Tariffs Hurt the Heartland, a campaign backed by the Washington-based National Retail Federation (NRF), the world's largest retail trade association. -China trade tensions was shared by many analysts. We're going to have a signing summit, which is better still. So the Chinese are clever to offer to buy enough U.S. commodities to cut that very visible imbalance.
The rise in import duties on Chinese goods from 10% to 25% was meant to come into effect on Friday 1 March. "But they also think that maybe the tariffs have done some good in provoking very serious negotiations between the two sides", Stratford told Reuters earlier. By looking squarely at the possible peril that a clash between major economic powers would bring about, both countries are urged to expedite the final round of negotiations.
That helps explain Chinese state media's applause for Trump's concession on his planned tariff increase, a move that is viewed as averting an increasingly damaging commercial conflict.
That probably explains why LaVar has never felt obligated to thank Trump, which apparently still upsets the president enough for him to talk about it nearly a whole two years since the incident.
The major US equity index futures contracts are trading higher on the hopes of a U.S.
"This is good news for business and it's good news for families".
The tariffs directly hit United States businesses, increasing costs and lowering demand from Chinese consumers with some companies even forced to lay off workers, the survey showed.