WASHINGTON: US-China trade talks aimed at ending a damaging tariff war will resume from Tuesday in Washington, the White House has announced.
The last set of talks ended Friday in Beijing with no deal, though US President Donald
Trump said the discussions were going “extremely well” and suggested he could extend a March 1 truce deadline for an agreement to be reached.
The next round of negotiations will commence with deputy-level meetings before moving on to principal-level talks on Thursday, a White House statement issued Monday said.
For the US, the talks will be led by Trade Representative Robert Lighthizer and include Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, economic policy advisor Larry Kudlow, and trade advisor Peter Navarro.
China’s commerce ministry meanwhile announced it would be represented by Vice Premier Liu He, Beijing’s top trade negotiator.
On Friday, Trump re-iterated he might be willing to hold off on increasing tariffs to 25
percent from the current 10 percent on March 1 on US $ 200 billion in Chinese goods if Washington and Beijing are close to finalizing an agreement to deal with US complaints about unfair trade and theft of American technology.
American officials accuse Beijing of seeking global industrial predominance through an array of unfair trade practices, including the “theft” of American intellectual property and massive state intervention in commodities markets.
Since a December detente, China has resumed purchases of some US soybeans and dangled massive buying of American commodities to get US trade negotiators closer to a deal.
The talks are aimed at “achieving needed structural changes in China that affect trade between the United States and China,” Monday’s statement said.
“The two sides will also discuss China’s pledge to purchase a substantial amount of goods and services from the United States.”
Beijing and Washington have imposed duties on more than $360 billion in two-way trade, which are weighing on their manufacturing sectors and have shaken global financial markets.
Pakistan seeks greater partnership with WB: PM
ISLAMABAD: Imran Khan has told WB that Pakistan looked forward to greater partnership with World Bank (WB) in critical areas including eco-tourism, mountain, and religious tourism.
Talking to a delegation of World Bank headed by Vice President South Asia Hartwig Schafer in Islamabad today Imran Khan said that these sectors which have a huge potential towards the uplift of the poor and poverty alleviation. He highlighted various steps being taken by the government towards economic stability, poverty alleviation and improving ease of doing business in the country. The delegation comprised of Vice President Human Development Annete Dixon, Country Director Illangovan Patchamuthu, Operations Manager Melinda Good and Senior Country Manager IFC Nadeem Siddiqui. Special Assistant of Prime Minister on Political Affairs Naeem-ul-Haq, Secretary Finance Arif Ahmed Khan and others were also present in the meeting.
The delegation appreciated Prime Minister’s vision on the economic stability of the country, human development and addressing the issue of stunted growth due to malnutrition. It briefed the Prime Minister about various ongoing projects of the World Bank in various sectors including water supply, sewerage and waste management, transportation and connectivity, capacity building and ease of doing business in the country. It also offered WB’s assistance in attracting foreign investments, analytics, sharing of expertise and technical knowledge in various sectors to help the Government translate its vision into reality. Welcoming the offer, the Prime Minister appreciated World Bank’s continued engagement with Pakistan and its support towards capacity building, infrastructure development and economic growth.
NATO condemns Russian ‘build-up’ in Crimea
BRUSSELS: NATO today condemned what it called Russia’s “ongoing and wide-ranging military build-up in Crimea” on the fifth anniversary of Moscow’s annexation of the Ukrainian peninsula.
As Russia celebrated what it terms its “reunification” with Crimea, NATO hit out at Moscow over its plans to further militarise the Black Sea.
The annexation of Crimea in March 2014 and Russia’s role in the Ukraine conflict sent ties between NATO and Moscow plunging to post-Cold War lows. NATO said there would be no return to “business as usual” with Moscow until there was “a clear, constructive change in Russia’s actions.
“We condemn Russia’s ongoing and wide-ranging military build-up in Crimea, and are concerned by Russia’s efforts and stated plans for further military build-up in the Black Sea region,” NATO’s ruling North Atlantic Council said in a statement. NATO holds that it would never recognize Russia’s annexation of Crimea and urged Moscow to return the territory to Ukraine.
Tokyo stocks open higher!
TOKYO: Stocks opened here higher today, tracking gains on Wall Street due to optimism over US-China trade talks, with investors closely eyeing the US Federal Reserve’s meeting later this week.
The Nikkei 225 index added 0.65 percent, or 139.64 points, to 21,590.49 in early trade, while the broader Topix index climbed 0.43 percent, or 6.82 points, to 1,609.45.