facebook linkedin twitter

No Date Set for U.S.-China ‘Phase Two’ Talks, Lighthizer Says

U.S. Trade Representative Robert Lighthizer attends a signing ceremony of the Section 232 Proclamations on Steel and Aluminum Imports at the White House in Washington, D.C., on March 8, 2018. (Olivier Douliery/Abaca Press/TNS)

WASHINGTON — No date has been set so far for the U.S. and China to kick off “phase two” trade talks, said U.S. Trade Representative Robert Lighthizer, contradicting a suggestion by President Donald Trump that negotiations would start right away.

For now, the two sides are focused on implementing the agreement reached on Friday, which is expected to be signed in January, he said. The pact will see the U.S. reduce tariffs on imports from China. Beijing promises to significantly increase purchases of U.S. farm goods and adhere to new commitments on intellectual property, forced technology transfer and currency.

Trump tweeted Friday that the second phase of talks would start “immediately, rather than waiting until after the 2020 Election.”

In an interview taped Saturday and broadcast Sunday on CBS News’ “Face the Nation,” Lighthizer said “the second, phase two, is going to be determined also by how we implement phase one.” The first part of the agreement will be implemented “right down to every detail,” he said.

Lighthizer said of the deal reached so far: “It really is a remarkable agreement, but it’s not going to solve all the problems.”

Changing the U.S.-China trade paradigm “was always going to be in phases,” Lighthizer said. “The question was, how big — how big was the first phase going to be. This is going to take years. We’re not going to resolve these differences very quickly.”

———

©2019 Bloomberg News

Visit Bloomberg News at www.bloomberg.com

Distributed by Tribune Content Agency, LLC.

Trade

October 20, 2021
by Kate Michael
Experts Fear Travel Restrictions Have Unintended Consequences for Diplomacy

WASHINGTON — Early advice from the World Health Organization warned against imposing travel or trade restrictions on countries experiencing COVID-19... Read More

WASHINGTON — Early advice from the World Health Organization warned against imposing travel or trade restrictions on countries experiencing COVID-19 outbreaks. Now experts fear the decision by most countries to ignore this advice may have unintended consequences for the future of global mobilization and diplomacy. “The... Read More

August 25, 2021
by Reece Nations
Ban on Canada, Mexico Border Crossings Extended Through Sept. 21

WASHINGTON — Essential trade and travel between Canada and the U.S. and Mexico and the U.S. will continue as normal,... Read More

WASHINGTON — Essential trade and travel between Canada and the U.S. and Mexico and the U.S. will continue as normal, however restrictions on non-essential crossings will remain in place through Sept. 21. The announcement from the U.S. Department of Homeland Security was made on Friday, one... Read More

August 11, 2021
by Dan McCue
Report: Travel Restrictions Inflicting Substantial Toll on Global Growth and Trade

A year and a half into the COVID-19 pandemic, travel bans meant to stem the crisis are taking a significant... Read More

A year and a half into the COVID-19 pandemic, travel bans meant to stem the crisis are taking a significant toll on global growth and trade, according to a new report from The Conference Board, the nonprofit business and research group. According to Trade Risks: Travel... Read More

August 10, 2021
by Kate Michael
Inter-American Development Bank Creates Toolkit for Nearshoring Supply Chains

WASHINGTON -- Among the unpredicted impacts of COVID-19 was the vulnerability of American dependence on manufacturing and services from China.... Read More

WASHINGTON -- Among the unpredicted impacts of COVID-19 was the vulnerability of American dependence on manufacturing and services from China. Everything from consumer products to pharmaceuticals and health and safety equipment experienced delays and shortages as a result of China dominating so many aspects of global... Read More

US Trade Deficit Hits Record $75.7 Billion in June

WASHINGTON (AP) — The U.S. trade deficit increased to a record $75.7 billion in June as a rebounding American economy... Read More

WASHINGTON (AP) — The U.S. trade deficit increased to a record $75.7 billion in June as a rebounding American economy sent demand for imports surging. The Commerce Department reported Thursday that the deficit rose 6.7% from a revised May deficit of $71 billion. The June deficit... Read More

July 26, 2021
by Dan McCue
U.S. and Mexico Fail to Resolve Dispute on Trade Rules for Cars

The U.S. and Mexico failed to resolve a dispute over trade rules for cars during a meeting last week, a... Read More

The U.S. and Mexico failed to resolve a dispute over trade rules for cars during a meeting last week, a development - or lack of one - that appears capable of severely straining relations between the two countries a year after the new USMCA trade pact... Read More

News From The Well
scroll top