Southern medical university in china, University in Guangzhou, China

Mnuchin and Lighthizer "will travel to Shanghai, China, to continue negotiations aimed at improving the trade relationship between the US and China", Efe news reported, citing the White House's statement.China's delegation will be led at the negotiations, which start on July 30, by Vice Premier Liu He."The discussions will cover a range of issues, including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, the trade deficit and enforcement," the White House said.The trade tensions between Washington and Beijing are rooted in the large deficits posted by the US with China.In 2018, the US posted a trade deficit of $419 billion with China due, largely, to the fact that US exports to Asia's largest economy totalled just $120 billion, while American imports from China reached $540 billion.During the first five months of 2019, the US trade deficit with China totalled $137 billion.The world's two largest economic powers have been engaged in a trade war for months, levelling allegations at each other and slapping tariffs on imports.In May, Trump imposed a 25 percent tariff on Chinese imports worth $200 billion in response to the lack of progress in reaching a trade deal with Beijing.China, for its part, retaliated by slapping tariffs on US imports worth $60 billion.Trump later threatened to impose tariffs ranging from 10 percent to 25 percent on another $325 billion of Chinese imports, causing concern in financial markets and the business community due to the possible effect on consumer spending, which accounts for about two-thirds of US economic activity.In late June, Trump and his Chinese counterpart, Xi Jinping, met on the sidelines of the G20 Summit in Japan and agreed to a truce in the trade war, with Washington holding off on imposing new tariffs on China and allowing US companies to sell products to tech giant Huawei.The two leaders agreed during their meeting in Osaka to resume trade negotiations amid Washington's decision to not slap tariffs on all Chinese imports.While additional tariffs are off the table for now, the United States will maintain the tariffs imposed on a total of $250 billion in Chinese goods, while Beijing will continue to slap tariffs on US imports totalling $110 billion.On Monday, Trump told reporters that the United States and China were still talking about trade."We're working on trade deals right now. We'll see what happens," Trump said.Another sticking point in bilateral trade relations is the status of Chinese tech giant Huawei, the world's largest provider of 5G wireless gear.In May, the US government banned Huawei from selling its products in the country on national security grounds, ratcheting up trade tensions.The Trump administration later said that Huawei could resume selling some tech products on Aug. 19.On Monday, executives from seven tech firms, including Google and Intel, met with the president and urged him to make a "timely" decision on Huawei's operations in the country, the White House said.Trump met with executives from Google, Intel, Cisco, Qualcomm, Micron, Broadcom and Western Digital at the White House, where they discussed issues related to Huawei's ban.The meeting came at a time when tech companies have been pressuring the administration to stick to the promise made by Trump at the G20 Summit to allow Huawei to sell chips and other components to American businesses.The ban on Huawei has prevented firms, such as Google, from doing business with the Chinese tech company.( With inputs from IANS )

Southern Medical University In ChinaFOLLOW

Southern medical university in china, Latest News

27 India along with foreign ministers of BRICS member states expressed concern over the heightened tensions in the Gulf region that has led to Iran and Britain seizing each others' oil tankers with around 45 Indian sailors on board waiting to be rel ...

In a warning to Apple CEO Tim Cook, US President Donald Trump has threatened to slap tariffs on the components of the company's high-end Mac Pro computer its most expensive product if it decides to shift production from the US to China. ...

India-born scientist Venkatraman Ramakrishnan had made headlines in 2009 when he was jointly awarded the Nobel Prize in Chemistry along with two of his peers for their research on the structure and function of the ribosome. In an exclusive interview ...

Hasina just returned from her first official visit to China after the formation of her government in Dhaka. She was there for 4-5 days in establishing Bangladesh's strategic relationship with China that attracted the attention of the entire world. ...

US President Donald Trump has threatened to slap Apple with tariffs on the components of its high-end Mac Pro computer, the most expensive of the company's products, if it finally decides to shift production from the US to China. ...

26 The Foreign Ministers of the BRICS nations Brazil, Russia, India, China and South Africa who will meet on Friday in Rio de Janeiro to prepare for their November 13-14 summit in Brasilia, will take advantage of this week's gathering to discuss d ...

Punjab's bicycle industry is huffing and puffing to survive as cheaper Chinese imports, allegedly entering India through a free trade agreement China is not even a part of, are putting them out of business. ...

US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer will travel to China next week for talks with Chinese officials, the White House said. ...