The U.S. and China declared a truce in their trade war on Saturday, as Donald Trump said he would hold off imposing an additional $394 billion in tariffs and the world’s two largest economies agreed to resume negotiations.
While the resumption of U.S.-China talks was welcomed, International Monetary Fund Managing Director Christine Lagarde warned that the global economy is in a “rough patch” with unresolved issues on trade posing the most serious risk for the future. “U.S. companies can sell their equipment to Huawei,” Trump said. “We’re talking about equipment where there’s no great national security problem with it.”
“Huawei is one of few potent levers we have to make China play fair on trade,” Schumer said Saturday in an emailed statement. “If President Trump backs off, as it appears he is doing, it will dramatically undercut our ability to change China’s unfair trades practices.” Trump said he had not yet decided how to allow U.S. companies to continue selling to Huawei or whether to remove the tech giant from the Commerce Department’s entity list. He said he would meet with advisers next week to determine how to proceed.
Easing PressureThe move is likely to draw criticism in Washington where national security hawks have urged Trump not to ease any pressure against Huawei. The company has long been the target of concern at the Pentagon and intelligence agencies in part over what the U.S. claims are its close ties to the Chinese military.
The work ethic Trump displays is amazing especially at his age. Then there is Trudeau constantly taking personal days and not showing any progress on issues.
Canada too can work with US and China on lowering billions of dollars in the China trade deficits
If Trump is rolling over on Huawei, there is no more point to holding Meng Wanzhou for extradition. Release her now. Get Justintrudeau to study the concept of Chines 'Face'. Face is everything.
Trumps tariffs are not working. China has a bigger trade imbalance than ever with the United states
America summit while trumps away phoning it in because he can only photoshop his image into News - independence from independence will turn United States into a pudding cup
9/11 solved - Chicken Of The Sea ‘ Charlie - Donald’s Dumps turn Hilton’s Clinton’s East - Brand Power - Secret remains - about his children’s charities collecting millions of dead bodies
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: globeandmail - 🏆 5. / 92 Read more »