US-China Trade Tensions: Trump administration to send team to China for trade talks
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China has welcomed the Trump administration's decision to send a high-level trade delegation to Beijing. US President Donald Trump confirmed a team led by Treasury Secretary Steve Mnuchin will leave for Beijing "in a few days" to try to work out a deal. The visit comes as the United States is threatening to impose tariffs on up to 150 billion dollars worth of Chinese imports. Our White House correspondent Nathan King reports.
After months of mounting trade tensions the U.S. President confirms that he's sending negotiators to China to avoid a trade war.
DONALD TRUMP US PRESIDENT "I do play the trade card. If you look at what's happening with trade in China, it hasn't been fair for many many years to the United States, and we are going to solve that problem. In fact, we are having Secretary Mnuchin and a couple of other folks, Robert Lighthizer, heading over to China."
The U.S. Treasury Secretary Mnuchin and U.S. Trade Representative Lighthizer are set to be joined by Trump's economic advisor Larry Kudlow and White House Manufacturing and Trade advisor Peter Navarro. Kudlow and Mnuchin are thought to be keen for a deal-stressing Beijing's recent announcement that it will open up China's auto sector fully to foreign firms. Lighthizer and Navarro are architects of a much broader effort to challenge Beijing's "Made in China 2025" economic plan to dominate industries of the future like biotechnology and robotics. It's unclear whether the U.S. will have a coordinated proposal to offer China. The planned visit was given a guarded welcomed in Beijing.
LU KANG CHINESE FOREIGN MINISTRY "We have received the message that the U.S. side hopes to come to China to talk about economic and trade issues. China welcomes it. And I would like to reiterate here once again that we express our welcome to this move."
Lu also stressed that China believes it has stuck by all World Trade Organization rules when it comes to trade-adding that if the U.S. government has any evidence against China it should present it to the WTO and not act unilaterally. But bilateral talks likely with Vice Premier Liu He - China's top economic advisor and his team - could at least reduce tensions and perhaps lead to a pause in the ratcheting up of threats. The U.S. is still drawing up a list of possible tariffs for a total of 150 billion dollars' worth of Chinese products. Publication of that list will likely be delayed at least until U.S. officials return from Beijing. China has promised to respond with a tariff list of its own-if the U.S. continues down this road.
Apple's CEO Tim Cook was a guest at the White House state dinner for Emmanuel Macron. Cook then met with Trump at The White House Wednesday. Apple and other big U.S. tech firms are worried that a trade war could disrupt global supply chains and cost them market share in China.
NATHAN KING WHITE HOUSE "Trade relations between the U.S. and China remain tense. The U.S. recently imposed a 7-year ban on U.S. companies selling parts to Chinese telecom giant, ZTE. Both Washington and Beijing have threatened each other with more tariffs. Both have filed WTO complaints. The stakes could not be higher for the world's top two economies. Nathan King, CGTN at the White House."