U.S. tariffs on China are working, U.S. Secretary of Commerce says




U.S. tariffs on China are working, U.S. Secretary of Commerce says
U.S. tariffs on China are working, U.S. Secretary of Commerce says  

By Colin Packham

SYDNEY (Reuters) - Tariffs are forcing China to pay attention to U.S. concerns, according to a copy of a speech to be given by U.S. Secretary of Commerce Wilbur Ross on Thursday.

Ross said the United States would have preferred not to implement tariffs against Chinese goods more than a year ago, which ignited a trade war that slowed global commerce and threatened decades-old systems, but added that it has forced Beijing into action.

"We do not love tariffs, in fact we would prefer not to use them, but after years of discussions and no action, tariffs are finally forcing China to pay attention to our concerns," Ross was quoted as saying in a copy of a speech seen by Reuters.

Ross is on an official visit to Australia.

Top U.S. and Chinese trade and economic officials will meet in Washington on Thursday and Friday to try to end a 15-month-old trade war.

Without significant breakthrough, Trump is set to hike the tariff rate on $250 billion worth of Chinese goods to 30% from 25% next Tuesday.

Negotiators had made no progress in deputy-level trade talks held on Monday and Tuesday in Washington, the South China Morning Post (SCMP) said, citing unnamed sources with knowledge of the meetings.

The two sides have been at loggerheads over U.S. demands that China improve protections of American intellectual property, end cyber theft and the forced transfer of technology to Chinese firms, curb industrial subsidies and increase U.S. companies' access to largely closed Chinese markets.


(Reporting by Colin Packham; Editing by Shri Navaratnam)

COMMENTS

More Related News

What is coronavirus, and should Americans be worried? What to know about the outbreak in China
What is coronavirus, and should Americans be worried? What to know about the outbreak in China

A new coronavirus that started in Wuhan, China, has now spread to the US and other countries. Here's what to know about symptoms, treatment and more.

Trump Seeks
Trump Seeks 'Hundreds of Billions' for U.S.: Davos Update
  • World
  • 2020-01-21 10:00:59Z

(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.The world's rich and powerful are in Davos, Switzerland, for the World Economic Forum's 50th annual meeting, and the gathering will be closely watched to see how the global elite aims to tackle issues they helped create, above all climate change.President Donald Trump's appearance, which comes on the same day his impeachment trial starts in Washington, will be sure to generate buzz. Meanwhile, Swedish activist Greta Thunberg has stepped up her criticism of governments and companies for not doing enough to tackle climate change.For in-depth coverage and analysis of Trump's...

U.S. Agriculture Secretary says no need for more farm aid after China trade deal
U.S. Agriculture Secretary says no need for more farm aid after China trade deal
  • US
  • 2020-01-20 21:28:51Z

With China poised to increase purchases of U.S. agricultural goods this year as part of a Phase 1 China trade deal, the U.S. Agriculture Secretary said on Monday there is no need for a third year of trade-related aid for farmers. Farmers have increasingly relied on aid from the U.S. government to survive during the past two years as exports have lagged throughout the U.S.-China trade war. China, which typically buys the bulk of its U.S. agriculture products during the fall and early winter, will likely change the timing of its purchases, Perdue said.

China confirmed that the deadly Wuhan virus sweeping the country can spread from human to human, increasing the risk of an epidemic
China confirmed that the deadly Wuhan virus sweeping the country can spread from human to human, increasing the risk of an epidemic

The spread could accelerate as hundreds of millions of people prepare to travel home for the Lunar New Year holiday this week.

Trump promises farmers that China trade deal will be good for them
Trump promises farmers that China trade deal will be good for them
  • US
  • 2020-01-20 01:09:02Z

President Donald Trump sought on Sunday to assure American farmers and ranchers hit by a protracted tariff war with China that a trade agreement he signed with Beijing will lead to major purchases of U.S. agricultural products. Trump's remarks in Texas, a state he won in 2016 and will need again in November's election, had all the hallmarks of a political stump speech, with a slam at Democrats trying to remove him through impeachment and a wish he could wear a cowboy hat in Washington. Trump said the initial trade deal he signed with China last Wednesday would be a boon for farmers, whom he thanked for sticking with him after he twice had to allocate multibillion-dollar bailouts for...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy