Lighthizer estimates $10-B bought by China so far
By Julie Harker, Brownfield
June 23, 2020
Trade Representative Robert Lighthizer says his office estimates China has purchased $10-Billion-dollars or more in U.S. ag goods this calendar year.
Testifying before the House Ways and Means Committee last week, Lighthizer said he believes China WILL fulfill its phase one commitments this calendar year but quantifying those purchases is a bit challenging.
“Secretary Perdue and I, we have a kind of a methodology to kind of give us a handle on it because the data isn’t designed to tell you what one country is doing in a purchase context. It’s more shipments and the like.”
Lighthizer pointed out...
Trump threat to 'decouple' U.S. and China hits trade, investment reality
David Lawder, Reuters
Jun 23, 2020
WASHINGTON (Reuters) - Conflicting talk from Trump administration officials about “decoupling” the U.S. economy from China is running into a challenging reality: Chinese imports of U.S. goods are rising, investment by American companies into China continues, and markets are wary of separating the world’s biggest economies.
White House trade adviser Peter Navarro gave Asian markets a scare on Monday night by telling Fox News Channel that the U.S.-China trade deal was “over.” U.S. stock futures dropped, the dollar rose, and volatility indices climbed.
Navarro quickly backtracked on Monday night, saying he was referring to a lack of trust between the United States and China over the coronavirus outbreak. President Donald Trump also quickly tweeted that the deal was intact.
On Tuesday, National Economic Council Director Larry Kudlow praised Beijing, telling Fox Business Network “they’ve actually picked up their game” when it comes to the trade deal.
The damage-control efforts by the Trump administration come after Trump said last week that “a complete decoupling from China” was an option, overruling U.S. Trade Representative Robert Lighthizer, who had told lawmakers that decoupling was not realistic...