Friday, 24 November, 2017

Overblown claim on new China trade deal

Jo Caldwell | 15 May, 2017, 06:30

Notably, China had already announced in September that it would open its market to US beef, and then never followed up on that vow.

Under the agreement, after one more round of technical consultations, China will "allow imports of us beef on conditions consistent with global food safety and animal health standards" as soon as possible and starting no later than July 16, according to the joint statement.

The US in exchange will allow cooked Chinese poultry to enter US markets.

In one of the actions laid out under the agreement, by July 16, China agreed to issue guidelines that would allow USA -owned card payment services "to begin the licensing process".

"Negotiating market access for USA beef products into China has been a prolonged effort, and I will remain cautiously optimistic until I see the first shipment of American beef land in China".

"USCA applauds President Donald J. Trump, Secretary Perdue, and Members of the House and Senate for making USA beef access to China a priority issue and appreciates the efforts by all to see this agreement through to completion".

"It's impossible to overstate how beneficial this will be for America's cattle producers, and the Trump administration deserves a lot of credit for getting this achieved", he said. So this deal primarily has to get better access by US companies to the Chinese market.

Nebraska Cattlemen is very excited the Trump Administration has reached an agreement with China to restore market access for US beef.

"Under the leadership of the co-chairs, Secretary of the Treasury Steven Mnuchin and Secretary of Commerce Wilbur Ross of the United States and vice premier Wang Yang of China, both nations have negotiated intensively to make progress on key issues".

In March, the USA supplied 7 percent of China's imported LNG, according to trade data.

China's dealmakers edged out their USA counterparts in their first round of trade talks.

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"For the 100-day plan to be credible it must address market access issues that impact US -based technology companies in China", Giovenco told Bloomberg BNA.

Another is China's entry into the World Trade Organization in 2001, an event that caused a surge in Chinese exports to the United States and created an economic shock that caused the loss of more than 1 million factory jobs, according to research by economists David Autor, David Dorn and Gordon Hanson.

The administration said the agreements were the fruit of a review carried out as a result of the meeting between Presidents Trump and Xi Jinping.

The deals represent the first results from 100 days of talks related to trade that started in April when a meeting was held between President Donald Trump and President Xi Jinping that proved much friendlier that expected after the presidential campaign of a year ago, but an immediate impact remained unclear.

The Commerce Department said the agreement gives China a chance to step away from coal in favor of the cleaner-burning natural gas. Then, secretary of State nominee Rex Tillerson vowed to block China from accessing its disputed islands in the South China Sea - a promise that would (almost certainly) require military force to uphold.

China's National Biosafety Committee will conduct science-based evaluations of all eight pending USA biotechnology product applications to assess the safety of the products.

"The concern is the buying up of American technology companies with only one objective here, which is to take their technology and put it in Chinese companies", Atkinson said. The two sides have reached a deal to boost trade. Previous administrations have hailed market-opening agreements only to be left disappointed.

Trump railed against that deficit during his campaign and vowed to reduce it as President.

"The more these agreements include real, concrete outcomes rather than platitudes, rehashing old ground or punts to the future, the better they are".

"Both sides have a deep and close understanding that the U.S".

Visa said in an emailed statement it looked forward to submitting an application for a bank-card clearing institution license, which, "once granted", would allow it to support economic development in China.

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