President Donald Trump has threatened tariffs on imports of Chinese goods, and China has threatened to retaliate with duties on U.S. products, including food items such as pork, beef and soybeans.
In a story May 13 about President Donald Trump's promise to help Chinese telecommunications company ZTE, The Associated Press reported erroneously that Amanda DeBusk is the chair of the global trade department at the law firm Hughes Hubbard & Reed.
Ikenson said the administration's focus on the $200 billion was "silly", adding that if the USA accepts China's offer to import more goods, Trump can "claim mission accomplished and turn the page".
As of Monday, the USTR's Office has received over 2,700 filings of written comments regarding the administration's tariff approach, with major US business groups opposed to tariffs on Chinese products.
One area the world's two most powerful economies likely won't be able to address during discussions this week is China's practice of what is known as technology mercantilism, in which it distorts policies and systems in order to expand domestic technology production.
He added that US President Donald Trump would like to see a "dramatic increase" in food exports to China. Officials from Beijing are expected to arrive in D.C. armed with a list of items they will offer to import from the U.S.to meet that goal, The Wall Street Journal reported. Earlier this month China responded in turn, threatening to impose a similar amount in levies on over 100 United States imports including soybeans, and automobiles.
Russian companies to benefit from US Iran withdrawal
Facing that reality, Le Maire said the European Union should strengthen its own legal arsenal against any such future USA threats. Boeing later announced deals with Iran Air and Aseman Airlines totaling 110 planes said to be worth $20 billion.
The move was announced in a tweet by Trump on Sunday and comes amid pressure from China's government to back off the sanctions on ZTE, a major Chinese government-linked telecommunications giant. ZTE has asked the department to suspend the seven-year ban on doing business with USA technology exporters.
Despite the US ban, the Washington Free Beacon has reported that ZTE was selling equipment to the Pentagon and Homeland Security Department.
The U.S. flag is seen in the wine section of a supermarket in Beijing, China, April 5, 2018.
As part of this, they also entered into an agreement with the USA government. "But be cool, it will all work out!"
The U.S. imposed the penalty on Shenzhen-based ZTE after discovering that the company, which had paid a $1.2 billion fine in the case, had failed to discipline employees involved and paid them bonuses instead.
But Democratic lawmaker Adam Schiff cautioned against being too soft on the company, saying on Twitter: "Our intelligence agencies have warned that ZTE technology and phones pose a major cyber security threat. You should care more about our national security than Chinese jobs", Schiff said in a tweet directed at Trump.