“Because the United States was willing to compromise with China and not press them on the most difficult issues, they were able to reach positive ground,” she said. The trade deal contains a variety of victories for American industry, including opening up markets for biotechnology, beef and poultry. Banks, insurers, drug companies and the energy industry are also big beneficiaries. China has also agreed not to force American companies to hand over their technology as a condition of doing business there, under penalty of further tariffs. And it will refrain…
Author: Ana Swanson
China Trade Deal Details Protections for American Firms
WASHINGTON — The trade deal that President Trump will sign on Wednesday includes commitments by China to curtail practices that American firms complain put them at a disadvantage and force them to hand over valuable intellectual property to Chinese firms, according to several people with knowledge of the deal. Those concessions, along with China’s agreement to buy $200 billion worth of American goods and to allow greater access to its markets, are expected to be announced at a White House ceremony for the signing of the long-awaited trade deal. As…
Trump Cleared to Put More Tariffs on Europe in Airbus Case
WASHINGTON — The World Trade Organization will grant the United States permission to impose tariffs on the European Union as part of a prolonged scuffle over subsidies given to European plane maker Airbus, European officials said Monday, a move that is likely to exacerbate trade tensions across the Atlantic. The ruling, to be published in the week of Sept. 30, is the global trade body’s final decision in a 15-year old dispute over the government assistance that Europe provides to its major plane manufacturer. It will clear the way for…
U.S. Delays Some China Tariffs Until Stores Stock Up for Holidays
WASHINGTON — President Trump on Tuesday unexpectedly put off new tariffs on many Chinese goods, including cellphones, laptop computers and toys, until after the start of the Christmas shopping season, acknowledging the effect that his protracted trade war with Beijing could have on Americans. Mr. Trump pushed a 10 percent tariff on some imports to Dec. 15, and excluded others from it entirely, while facing mounting pressure from businesses and consumer groups over the harm they say the trade conflict is doing. The stock market soared after the announcement, following…
China’s Currency Moves Escalate Trade War, Rattling Markets
Zippy Duvall, the president of the American Farm Bureau Federation, called the announcement “a body blow to thousands of farmers and ranchers who are already struggling to get by.” American exports to China fell $1.3 billion during the first half of the year, and American farmers now stand to lose all of what was a $9.1 billion market in 2018, Mr. Duvall said. That had fallen from a $19.5 billion market in 2017, before the trade war began. The escalating trade war already threatens to end what had looked to…