US-China trade talks again in jeopardy
Trade talks between the delegations of the United States and China, which would set the stage for conversation at the highest level at the end of the week again ended in nothing, for which China will go from Washington a day earlier.
critical issues to reach a compromise failed. Chinese representatives refused to discuss the forced transfer of technology, which is the main claim of the US to the economic policies of the PRC. Also the issue was not raised on state subsidies, which, according to the administration trump, give Chinese companies an unfair advantage over global competitors. Details were discussed the issues of procurement of agricultural products and protection of intellectual property.
the Chinese side has failed to convince American partners to consider the possibility of freezing of the tariff increase that is the basic requirement of China. Therefore, the duty on Chinese goods worth $ 250 billion will be raised from 25% to 30%, and 15 December will be introduced a new 15% duty on consumer goods worth 160 billion $.
Before the Commerce Department included 28 Chinese organisations to the sanctions list for violation of the rights of the Muslim minority in the Xinjiang Uighur Autonomous region. China has not approved such action, although proposed to increase the purchase of soybeans in the United States by 10 million tons per year to 30 million tonnes, or 3.25 billion $.
In case of success scheduled for Thursday of talks between Vice Premier of the state Council of the PRC Liu he with US trade representative Robert Lithizine and Finance Minister Stephen Monom on Friday could meet with President trump.
the Failure of negotiations can stop China's purchase of U.S. soybeans, which will lead to falling prices even though the forecasts decrease of world production. After the publication of USDA report the soy prices will remain under strong bilateral pressure.