ZTE Could Face Fresh $1.3 Billion Fine, Trump Says

Donald Trump Calls For New'Structure For US- China Trade Deal

Nearly everyone is agreed that China would be a loser in a trade war with the USA because its positive trade balance does not leave it with enough products to impose retaliatory tariffs on. Despite that, in true Trumpian fashion, the President has declared resounding victory.

Reportedly, Xi Jinping himself took up the issue of the company with Trump who tweeted on 13 May that Xi and he were working together to give a life line to the company and that the US Commerce Department had been instructed to get it done.

Both sides claimed victory on Monday and pledged to continue talking after last week's round in Washington produced pledges that China would import more American energy and agricultural commodities so as to trim the $335 billion annual USA goods and services trade deficit with China, although there were no specifics. These include outright cybertheft of US companies' trade secrets and China's demands that American corporations hand over technology in exchange for access to the Chinese markets.

As the latest round of US-China talks wrapped up, the two sides agreed to take "effective measures" to reduce "substantially" the US trade deficit in goods with China, without elaborating further on details in the joint statement. Some White House officials say the retreat on tariffs is a result of discord on Trump's economic team. Trump is seemingly finding this out very quickly.

Trump says both Mexico and Canada have been "very hard to deal with" and he's "not happy with their requests".

Last year, the USA had a record deficit with China in merchandise trade of $375 billion, the largest with any nation. Clearly, any successful campaign to improve America's trade position had to go through Beijing. Trump's boast on instructing his department of commerce to help the beleaguered Chinese giant led to a barrage of criticism that his action was cocking a snook at the law.

It also ended the temporary calm between the USA and China, which in contrast to Washington's actions announced on Thursday it will reduce import duties on a range of consumer goods in a bid to open its market to outsiders. The president spared Canada, Mexico and the European Union from the tariffs. Uncertainty and confusion over these tariffs caused global stock markets to fall and opposition on both sides of the Atlantic intensified. "And 15 per cent is still a significant tariff".

According to the editors, whose main audience is investors and businessmen, Trump is a threat to the economy due to his threats of tariffs and his administration's lack of understanding about how worldwide economies have evolved.

Restricting exports results in an unbalanced bilateral trade system has allowed the USA trade deficit to pile up to the sum of $375.2 billion in 2017, which is almost half of its global trade deficit. Trump even offered a target number of $200 billion in bilateral reductions.

In return, the Commerce Department would lift a seven-year ban on ZTE's purchase of components that the Chinese firm depends on from USA companies.

"According to USA government trade data, we have estimated the 2017 value of Chinese shipments to USA -based electrical and medical imaging manufacturers was approximately $9 billion, or slightly less than 1/5 of the entire $50 billion in imports targeted by the proposal", NEMA told HCB News. The pushback from Congress was immediate.

"In this latest consultation, both China and the US demonstrated the responsibility of major stakeholders", Xiaoming stated. They didn't get any.

Related news:

Hot News

isis-killer-beheading-video-story-top Amazon is selling its face-recognition tech to police departments
May 23, 2018 - 21:40
The city of Orlando, Florida, as well as the Washington County Sheriff's Office in OR , are among Amazon's Rekognition customers. Skynews just used Amazon's facial recognition technology to identify guests at the royal wedding . "We are not mass-collecting".

isis-killer-beheading-video-story-top US State Department on Alert After Possible 'Sonic Attack' in China
May 23, 2018 - 21:12
The health alert advised that US citizens in China should consult a medical professional if they experience any symptoms. The person experienced "subtle and vague, but abnormal, sensations of sound and pressure" , a statement said.

isis-killer-beheading-video-story-top Vedanta shares drop 6% after Sterlite protests in Tamil Nadu
May 23, 2018 - 20:57
Most of the injured are civilians but 36 policemen also suffered injuries of various kinds in mob fury, official sources said. A spokeswoman for Vedanta Resources said it had witnessed the deaths at the protest "with great sorrow and regret".

isis-killer-beheading-video-story-top China denies Trump's view that Xi could be influencing N. Korea
May 18, 2018 - 14:54
It seems like ages ago when political leaders were seriously talking about President Donald Trump winning a Nobel Peace Prize . Trump says North Korean officials are discussing logistical details about the meeting with the US , "as if nothing happened".

isis-killer-beheading-video-story-top Former Mexican President Vicente Fox Blasts Trump Over 'Animals' Comment
May 18, 2018 - 14:52
Trump blamed the influx of illegal immigrants in the United States on the country's "dumbest laws". These are animals", Trump said, triggering a torrent of condemnation from the lawmakers.

isis-killer-beheading-video-story-top Call of Duty: Black Ops 4 Details Have Been Released
May 18, 2018 - 14:31
Treyarch unveiled what they are calling the most in-depth and most engaging Call of Duty experience ever with Black Ops 4 . Therefore, the new healing system is going to slow down combat and the way players approach different combat scenarios.

isis-killer-beheading-video-story-top Congo's health ministry says doses of Ebola vaccine arrive
May 17, 2018 - 16:01
The vaccine, from US -based pharmaceutical firm Merck, is unlicensed but has been shown to be highly effective against Ebola. Authorities said they were tracing all air, river, and road routes in and out of the city to find the source of the virus.

isis-killer-beheading-video-story-top WWE 'Smackdown' Up for Grabs as NBCUniversal Moves to Pin Down 'Raw'
May 17, 2018 - 15:59
WWE chief financial officer George Barrios earlier this week when asked about Raw and Smackdown airing on differrent networks. TV rights is a huge revenue earner for the WWE , so it's unlikely WWE just wants to put Smackdown on its own WWE Network.

isis-killer-beheading-video-story-top EU heads discuss bold-or-fold strategy toward Trump tariffs
May 17, 2018 - 15:58
Major European countries share Trump's concerns, and the EU leaders on Wednesday agreed to seek ways to address them. He added, "The EU and US are friends and partners".

isis-killer-beheading-video-story-top Ryan Reynolds Offers Update on X-FORCE Film
May 15, 2018 - 15:17
Like the first film, " Deadpool 2 " is filled with crude jokes and bloody violence, but it isn't genuinely subversive. This movie, in a surprising manner, is also much more emotionally impactful and insightful than the first movie was.

isis-killer-beheading-video-story-top Ivanka Trump Has 'Great Joy' Going to Jerusalem Embassy Opening on Monday
May 14, 2018 - 05:16
On Sunday, scuffles broke out between Israelis and Muslim security officers in the holy compound in east Jerusalem's Old City. The Friends of Zion Museum has plastered buildings and buses with more than 150 billboards in support of President Trump.

isis-killer-beheading-video-story-top Chinas first home-built aircraft carrier begins sea trials
May 14, 2018 - 05:14
Once an aircraft carrier passes its sea trials, that doesn't mean it's ready for combat. Additional reporting from Newsy affiliate CNN .

isis-killer-beheading-video-story-top Being a Motherless Daughter and a Mother on Mother's Day
May 14, 2018 - 05:07
According to History.com , the modern precedent for Mother's Day is the early Christian festival known as 'Mothering Sunday'. Apparently no one picked up on that tiny detail because the celebration has gone far beyond just honoring one mom .

isis-killer-beheading-video-story-top Klopp: Liverpool players could be remembered for 500 years with European glory
May 13, 2018 - 14:10
Hughton's Seagulls finish the season at Anfield on Sunday having lost their penultimate fixture at the Etihad Stadium in midweek. Unbeaten at home in the league this season, Liverpool are odds-on to achieve their goal.

isis-killer-beheading-video-story-top President Trump Declares Kilauea Eruption A Major Disaster
May 13, 2018 - 14:07
Additional funds are needed to address the permanent damage the volcanic activity and earthquakes have caused, he added. The observatory said that 15 fissures, which have emerged since May 3, have not produced any lava since Wednesday.