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Indiaexportnews.com

China backtracks on US trade deal commitments, American tariffs hit back

  15.05.2019    

The US has received systematic edits to a nearly 150-page draft trade agreement from Beijing that would undo months of negotiations between the world's two largest economies, according to American officials, Reuters reports.
In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the US to launch a trade war: Theft of US intellectual property and trade secrets; forced technology transfers; competition policies; access to financial services; and currency manipulation.
Washington responded by saying that they would increase tariffs, according to a notice posted on the Federal Register. Chinese negotiators including Vice Premier Liu He are in to Washington to continue trade talks.



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