Saving Seafood

Temporary truce reached in US-China trade war

December 3, 2018 — Meeting at the G20 Summit on Saturday, 1 December in Buenos Aires, Argentina, Chinese President Xi Jinping and U.S. President Donald Trump agreed to a détente in their trade war.

In an announcement after the meeting, the White House said Trump had agreed to postpone his plan to ramp up existing 10 percent tariffs on USD 200 billion (EUR 170 billion) of Chinese goods to a 25 percent rate on 1 January, 2019. That move is contingent upon China and the United States coming to terms on a broad collection of disagreements – including intellectual property protection and forced technology transfer and a widening trade deficit – that set the trade war in motion in January 2018.

“This was an amazing and productive meeting with unlimited possibilities for both the United States and China,” Trump said in a statement.

Read the full story at Seafood Source

U.S., China Plot Road Map to Resolve Trade Dispute by November

August 20, 2018 — Chinese and U.S. negotiators are mapping out talks to try to end their trade standoff ahead of planned meetings between President Trump and Chinese leader Xi Jinping at multilateral summits in November, said officials in both nations.

The planning represents an effort on both sides to keep a deepening trade dispute—which already has involved tariffs on billions of dollars of goods and could target hundreds of billions of dollars more—from torpedoing the U.S.-China relationship and shaking global markets.

Scheduled midlevel talks in Washington next week, which both sides announced on Thursday, will pave the way for November. A nine-member delegation from Beijing, led by Vice Commerce Minister Wang Shouwen, will meet with U.S. officials led by the Treasury undersecretary, David Malpass, on Aug. 22-23.

The negotiations are aimed at finding a way for both sides to address the trade disputes, the officials said, and could lead to more rounds of talks.

The talks represent a clear move by Beijing to get relations with Washington back on track that were cordial early in the Trump presidency and involved coordination to rein in North Korea. Those relations have soured, especially after Mr. Trump’s initial tariffs on Chinese imports, which he said were designed to punish Beijing for alleged intellectual-property violations and technology theft. The resulting tit-for-tat of trade threats and retaliation has hit China’s currency and stock markets.

Read the full story at The Wall Street Journal