In this file:

 

·         A lot on the line as China negotiations near possible tipping point

·         Grassley supports Trump’s tough China stance

·         Exclusive: China backtracked on nearly all aspects of U.S. trade deal - sources

·         As tariff hike looms, China asks U.S. to meet it halfway, denies backtracking

 

 

A lot on the line as China negotiations near possible tipping point

 

By Mark Dorenkamp, Brownfield

May 8, 2019

 

There’s a lot on the line as negotiations continue with China amid President Trump’s threat to increase tariffs Friday.

 

Dave Salmonsen with American Farm Bureau says he believes the President is employing a pressure tactic.

 

“Trying to get the Chinese to make the deal, get it closed, so we can move on and hopefully take these tariffs off (and) get back to normal marketing over time.”

 

While Farm Bureau isn’t in favor of additional tariffs, he tells Brownfield they do want to get a deal done.

 

“In the near term, it looks like we’re going to watch this unfold. Hopefully it will result in a good trade deal that will benefit U.S. agriculture and other industries. But for right now it seems to be part of the negotiating world with China that we’re in.”

 

Beyond securing more purchases of U.S. ag goods...

 

more, including audio [6:16 min.]

https://brownfieldagnews.com/news/a-lot-on-the-line-as-china-negotiations-near-possible-tipping-point/

 

 

Grassley supports Trump’s tough China stance

 

By Ken Anderson, Brownfield

May 8, 2019

 

President Trump’s latest threat to proceed with higher tariffs on Chinese goods has caused some grumbling in the ag community. Some who have been supportive of Trump are now starting to question his trade strategy.

 

But Iowa Senator Chuck Grassley says he supports Trump’s tough stance with the Chinese.

 

“I have some sympathy for Trump’s lack of patience with the Chinese,” Grassley says. “Enough is enough. It’s time to strike a strong, enforceable deal. I urge the Chinese negotiators to bring these talks to a halt—to a successful close.

 

Grassley says any agreement with China must have strong enforcement provisions.

 

“When all the dust settles…we have to show that these were worthwhile negotiations,” Grassley says...

 

more, including audio [1:22 min.]

https://brownfieldagnews.com/news/grassley-supports-trumps-tough-china-stance/

 

 

Exclusive: China backtracked on nearly all aspects of U.S. trade deal - sources

 

David Lawder, Jeff Mason & Michael Martina, Reuters 

May 8, 2019

 

WASHINGTON/BEIJING (Reuters) - The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.

 

The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.

 

In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

 

U.S. President Donald Trump responded in a tweet on Sunday vowing to raise tariffs on $200 billion worth of Chinese goods from 10 to 25 percent on Friday – timed to land in the middle of a scheduled visit by China’s Vice Premier Liu He to Washington to continue trade talks.

 

The stripping of binding legal language from the draft struck directly at the highest priority of U.S. Trade Representative Robert Lighthizer - who views changes to Chinese laws as essential to verifying compliance after years of what U.S. officials have called empty reform promises.

 

Lighthizer has pushed hard for an enforcement regime more like those used for punitive economic sanctions – such as those imposed on North Korea or Iran – than a typical trade deal.

 

“This undermines the core architecture of the deal,” said a Washington-based source with knowledge of the talks.

 

“PROCESS OF NEGOTIATION” ...

 

FURTHER TALKS THIS WEEK ...

 

more

https://www.reuters.com/article/us-usa-trade-china-backtracking-exclusiv/exclusive-china-backtracked-on-nearly-all-aspects-of-us-trade-deal-sources-idUSKCN1SE0WJ

 

 

As tariff hike looms, China asks U.S. to meet it halfway, denies backtracking

 

Yawen Chen & Se Young Lee, Reuters

May 9, 2019

 

BEIJING (Reuters) - China appealed to the United States to meet it halfway to salvage a deal that could end their trade war, with its chief negotiator in Washington for two days of talks hoping to stave off U.S. tariff hikes set to be triggered on Friday.

 

The two sides had appeared to be converging on a deal until last weekend, when U.S. President Donald Trump announced his intention to raise tariffs with his negotiators saying that China was backtracking on earlier commitments.

 

“The U.S. side has given many labels recently, ‘backtracking’, ‘betraying’ etc...China sets great store on trustworthiness and keeps its promises, and this has never changed,” Commerce Ministry spokesman Gao Feng said on Thursday.

 

Gao told reporters in Beijing that it was normal for both sides to have disagreements during the negotiating process.

 

Trump told supporters at a rally in Florida on Wednesday that China “broke the deal”, and vowed not to back down on imposing new tariffs on Chinese imports unless Beijing “stops cheating our workers”.

 

A protracted trade war between the world’s two largest economies would damage global economic growth, and investors pulled their money out of stock markets this week amid fears of the prospective agreement unraveling.

 

Gao said the decision to send the delegation led by Vice Premier Liu He to Washington despite the tariff threat demonstrated China’s “utmost sincerity”.

 

“We hope the U.S. can meet China halfway, take care of each others’ concerns, and resolve existing problems through cooperation and consultations,” he said.

 

Gao urged the United States to eschew unilateral action, while warning China was fully prepared to defend its interests.

 

“China’s attitude has been consistent and China will not succumb to any pressure. China has made preparations to respond to all kinds of possible outcomes.” He did not elaborate.

 

U.S. government and private sector sources previously told Reuters that a draft trade agreement was riddled with reversals by China that undermined core U.S. demands.

 

In each of the seven chapters of the draft, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: Theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

 

The stripping of binding legal language from the draft struck directly at the highest priority of U.S. Trade Representative Robert Lighthizer - who views changes to Chinese laws as essential to verifying compliance after years of what U.S. officials have called empty reform promises.

 

U.S. TARIFFS ...

 

STRONG MENTALITY  ...

 

ECONOMIC IMPACT  ...

 

more

https://www.reuters.com/article/us-usa-trade-china-commerce/as-tariff-hike-looms-china-asks-u-s-to-meet-it-halfway-denies-backtracking-idUSKCN1SF0N3