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No deal between Washington and Beijing

Trump did not come in person, but sent his most tough emissaries to China – his "super financial team" summed up on Twitter.

The turban issue of trade

Thursday and Friday, an extended delegation including his advisor Peter Navarro, Trade Representative Robert Lighthizer, his Commercial Secretary Wilbur Ross ̵

1; hardline supporters – like finance minister Steve Mnuchin, went to Beijing to discuss turmoil trade between the two countries.

An organized visit while the tension between Washington and Beijing is at its height. In recent months, the Trump administration has increased pressure on China, charging taxes on solar panels, steel or aluminum. It is also threatening to tax the equivalent of $ 50 billion of Chinese goods entering the US market from the end of May, in the context of a dispute over intellectual property rights.

Actions that China has responded by taxing certain US goods, including agricultural products, cars and aircraft. It was also suspended pending acquisition of US companies in China, such as Qualcomm or the Bain Capital Fund.

Little progress

At the end of the two-day talks, the two countries appeared to have made no progress, each camping in their positions. Friday night, no agreement between the two countries had been formalized. " Both sides confirmed that there were still significant differences in some issues and that further work was needed" summarized the China New Government without giving details.

In a document sent to Chinese authorities before the visit and revealed by several media, the Trump administration has listed what it expects its partner to reduce the trade deficit of $ 200 billion by 2020, twice as much as the US President has requested the trade deficit (excluding services) with China was $ 375 billion last year and expanded during the first quarter.

Protection of US Agricultural Products

The document thus contains a list of products that Washington requires lower fees, as well as the promise not to repent against the United States when changing their. Tariff duties should not exceed those applied by the United States to Chinese products, with the exception of strategic industries as defense. Washington also specifically asks Beijing not to target US agricultural products, which accounts for a large proportion of Chinese imports from the United States

The Trump Administration also points to subsidies for some of the technology industries included in the plan. Made in China in 2025, which aims to make China a world leader in advanced technology sectors, such as robotics or new energies. More generally, the United States requires increased transparency on foreign investment

"Unfair" Claims

China, which in recent weeks announced some measures to open foreign investment in financial services and the automotive industry immediately ruled " unfairly unfairly ] ".

Representative of Deputy Prime Minister Liu He also forwarded her list of complaints and advocated that the United States abandon its intellectual property rights and tariffs of 25% Chinese goods. She also asked that Washington discontinue Chinese companies for national security reasons, because the US would grant a bank license to CICC, one of its major financial institutions, and to open the electronic payments market to Chinese players.

Elsa Conesa

New York Office

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