Published: Fri, November 16, 2018
Worldwide | By Isabel Fisher

More talk of US-China trade ceasefire

More talk of US-China trade ceasefire

In an interview to The Washington Post, Pence said that United States President Donald Trump is also ready to make fresh trade deals with China but only if the country is ready for such policy changes. The conversation didn't yield any concrete results, the people said.

Mnuchin is seen as an advocate within the administration of a deal, while others, such as US Trade Representative Robert Lighthizer, have been pushing to continue raising pressure on Beijing to try to push for more meaningful reforms.

The opening bid falls short of numerous core demands the White House has repeatedly detailed as must-haves in trade talks with Beijing, including addressing technology transfers and intellectual property theft, according to one of the people briefed. Even Commerce Secretary Wilbur Ross raised doubts earlier this week over whether the governments could reach a deal anytime soon.

Vice President Mike Pence has undertaken a kind of "freedom of navigation" operation of his own over the disputed South China Sea, an interview published Tuesday revealed ahead of Pence's visit to Singapore for a series of meetings in the region. "The real issue is intellectual property rights, forced technology transfers, industrial espionage, that kind of thing". Top US officials have sent conflicting signals in recent weeks. He added that companies in both the United States and China have been affected and are responding to the trade dispute, which has triggered tit-for-tat in tariffs on goods. "If and when there is a deal, it will be on President Donald J. Trump's terms - not Wall Street terms", Navarro, a former economics professor, said during a speech at the Center for Strategic and International Studies in Washington. The biggest of, which is levied on Chinese imports worth $200 billion, due to increase to 25 percent in January, in case no agreement is signed before that time.

Mr Pence said China must offer concessions on a wide range of issues including intellectual property theft, forced technology transfer, restricted access to Chinese markets, respect for global rules and norms, efforts to limit freedom of navigation in worldwide waters and Chinese Communist Party interference in the politics of Western countries.

The world's two largest economies are already undergoing tension, especially after the USA imposed a 250 billion United States dollars tariffs on Chinese exports.

Speaking to reporters Wednesday, Malmstrom said she had told Lighthizer that a tit-for-tat trade war would be damaging to both Europe and the United States. But some argue the tariffs aren't the best way to address the problems.

Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He spoke by phone on Friday, a spokesperson for the agency confirmed on Tuesday, an effort to restart trade discussions ahead of the two leaders meeting, which Trump has boasted would be a "good meeting".

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