Larry Kudlow: We're asking China to change its approach

Larry Kudlow: We're asking China to change its approach

The vice premier and other senior Chinese officials, including central bank chief Yi Gang, are in the United States for a second round of trade negotiations.

He said that China and the U.S. have far more shared interests than differences, and China-U.S. relations will grow smoothly when the two countries properly handle each other's core and major interests.

"Secretary Ross, who's in charge of this, has always regarded it as an enforcement issue, not as a trade issue", Kudlow said, adding that nonetheless, Commerce will review the case and "they'll take a look at the remedies".

The White House's harshest China critic, Peter Navarro, will also take part in the talks, reports Bloomberg.

The controversy comes as Trump appears increasingly open to smoothing over differences with China in an attempt to avert a trade war before the midterm elections.

Liu is expected to spend four days in the US for trade talks.

Brady said the issue of ZTE didn't come up during his meeting with lawmakers. He tweeted that he was directing the Commerce Department to ease a seven-year ban on Chinese telecommunications giant ZTE doing business with US companies because he was concerned about too many Chinese jobs being lost.

Analyst Advice And Earnings Insight: Walmart Inc. (WMT), Bilibili Inc. (BILI)
Furthermore, Gabalex Capital Management Llc reported 400,000 shares in Wal Mart Stores Inc equivalent to 11.35% of its portfolio. Argus gave the stock a Buy rating, while setting a price target at $100 in a research note from Thursday, April 19th, 2018.

Trump is not only at loggerheads with intelligence agency chiefs over the threat that ZTE may pose to USA national security; a move to help the company would also reverse a decision by his own Commerce Department, which last month barred US companies from selling components and software to ZTE for seven years after finding that the firm breached USA sanctions on Iran. Last year, ZTE procured components and software from 211 USA companies. Trump has threatened to impose tariffs on as much as $150 billion in Chinese imports to punish Beijing for violating American intellectual-property rights.

He noted that his ongoing USA visit aims to, according to the consensus of the two presidents, continue in-depth communication with the US side on bilateral economic and trade issues.

USA lawmakers expressed their willingness to maintain good relations with China.

Barring a major breakthrough in this week's talks, tariffs on the initial $50 billion worth of goods could go into effect in the coming weeks or months.

Liu told one group of House lawmakers in a meeting Wednesday that he "recognizes there are problems" in the U.S.

Among the US lawmakers Liu met with were Orrin Hatch, president pro tempore of the Senate and chairman of the Senate Finance Committee and Kevin Brady, chairman of the House Ways and Means Committee.

"His hope for this trip was to begin to address the trade imbalance, increasing demand of Chinese consumers for US products as well as to begin to take steps on the structural reforms that have been raised", Brady said after a roughly 45-minute meeting with the Chinese delegation. "They are really under the radar", said Jeff Fieldhack of Counterpoint Technology Market Research.

Related Articles