US President Donald Trump informed his Chinese counterpart, Xi Jinping, that one of his cabinet’s most strident trade hawks will lead negotiations aimed at averting a tariff escalation, according to reports on Monday.
Trump said that US Trade Representative Robert Lighthizer would spearhead talks as part of a framework agreement that was announced following the bilateral dinner meeting held at the Group of Twenty summit on Saturday, The Wall Street Journal reported, citing sources familiar with the matter.
The sources said the Chinese were surprised by the decision, having dealt mainly with Treasury Secretary Steven Mnuchin on trade issues in the past.
Lighthizer is seen as a hard-liner who is seeking to force major changes to China’s domestic industrial policy and impose steep tariffs if Beijing refuses to do so.
When asked about the report by reporters on Monday, White House economic advisor Larry Kudlow played down Lighthizer’s role.
“I’m sure he will be deeply involved,” Kudlow said on a call with reporters.
But, he added, “I’m sure secretary Mnuchin will be deeply involved as well.”
Lighthizer, he said, “will be in charge of enforcement, timelines…”
Kudlow was adamant, however, that China would have to move quickly with concessions that they had promised, including what he understood to be a pledge to lower tariffs on cars.
“They cannot slow walk this,” Kudlow said.
There are 2 sides to the same coin. This is the guy that will get a deal done. He is an expert. What he is doing in another way is to help the Chinese leaders fix the Chinese economy structure, just like the WTO ascend help propel the Chinese economy forward. Any other negotiator will only produce comestic results.
There are 2 sides to the same coin. This is the guy that will get a deal done. He is an expert. What he is doing in another way is to help the Chinese leaders fix the Chinese economy structure, just like the WTO ascend help propel the Chinese economy forward. Any other negotiator will only produce comestic results.
All is happening because of chinese malpractice of international trade. Dont blame on America. America is only fighthing for fair trade.
All is happening because of chinese malpractice of international trade. Dont blame on America. America is only fighthing for fair trade.
Once Lighthizer is announced as lead to US trade talk team, Wall Street gives back all gain on Monday. It seems that Trump’s administration is just creating opportunity for traders to pump & short the equity market. Like I posted yesterday, after 90 days of talk, tariff will be on all Chinese import but at a low rate that won’t cost excessive RIF in domestic manufacturing. Trump wants the tariff revenue.
Once Lighthizer is announced as lead to US trade talk team, Wall Street gives back all gain on Monday. It seems that Trump’s administration is just creating opportunity for traders to pump & short the equity market. Like I posted yesterday, after 90 days of talk, tariff will be on all Chinese import but at a low rate that won’t cost excessive RIF in domestic manufacturing. Trump wants the tariff revenue.