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            november 25, 2017

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Indiaexportnews.com

US reaps trade deals worth US$250 billion during Trump's visit to Beijing

  13.11.2017    

US President Donald Trump's visit to Beijing has resulted in the US winning business agreements from China worth US$250 million and include the sales of US-made chipsets, jet engines and auto parts.
Contract signings are typically a feature of visits to Beijing by foreign head of states and are intended to silence critics of China's "unfair" trade policies.
Many of the contracts signed during a ceremony attended by Mr Trump and Chinese President Xi Jinping appeared to represent purchases Chinese mobile phone makers, airlines and other customers would have made anyway that were saved for signing during Mr Trump's visit, reported London's Independent.
Others signings included a cooperation framework on shale gas and a memorandum of understanding on industrial development.
Mr Trump pledged to change "one-sided and unfair" trade relations with China but said he does not blame Beijing for taking advantage of the US in the past.
The US President said trade between the US and China has not been "very fair" for the US and cited the large trade deficit between the two global powers.
His Chinese counterpart said Beijing believes cooperation between the two countries is the "only correct choice" and that relations between the sides have entered a new historic starting point.
Several corporate CEOs are in Beijing as part of a delegation led by US Commerce Secretary Wilbur Ross.
Some in the US business community have expressed concerns that contract wins could come at the expense of resolving long-standing complaints over market access restrictions in China.
"This shows that we have a strong, vibrant bilateral economic relationship, and yet we still need to focus on levelling the playing field because US companies continue to be disadvantaged doing business in China," said American Chamber of Commerce chairman William Zarit.



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