Chinese government makes their goal clear. China aims to become the global leader in innovation and manufacturing. This would be an unacceptable outcome for American workers. To drive our own development in a competitive, global economy, we must prioritize the high-wage industries of the 21st century, to the benefit of American businesses, workers, and their families.
The latest round of high-stakes talks to resolve trade and economic disputes between the U.S. and China is scheduled to resume in Beijing this week. The American side will be led by United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin; China will be led by Vice Premier Liu He. The U.S. has threated to impose new tariffs on $200 billion of Chinese goods if an agreement isn’t reached by March 1.
China has reportedly extended an olive branch to the US ahead of the talks. Treasury Secretary Steven Mnuchin told US TV network CNBC last month: “They put on the table an offer of over $1.2 trillion in additional commitments. But the details of that still need to be negotiated. … This isn’t just about buying things. This is about opening markets to US companies and protecting US technology. Those are very important structural issues to [US President Donald Trump].”
With just about one month to go before the U.S.-China trade truce comes to an end, some in the American business community have expressed concerns that many questions remain on whether the two countries can make enough progress before the early-March deadline lapses.
China promised to “substantially” expand purchases of U.S. goods after the latest round of trade talks, and both sides planned further discussions to reach a breakthrough with only a month to go before the Trump administration is set to ratchet up tariffs. President Donald Trump said Thursday he will dispatch two of his top negotiators to China following two days of talks with Chinese officials in Washington.
The USMCA is the right deal for the U.S. because it puts innovation, and all those who help drive our technological and productivity advances, front and center. Key to the continued promotion of U.S. innovation is the establishment of critical intellectual property (IP) protections that safeguard and reward U.S. innovations. While Canada and Mexico remain some of our closest economic allies, too often relaxed IP protections in both countries have undermined U.S. incentives to innovate and compete fairly in those markets.
The indictments allege that the company stole intellectual property from T-Mobile and also violated U.S. sanction orders, Whitaker said. Administration officials also said they are in the process of formally requesting the extradition of Huawei CFO Meng Wanzhou, who was arrested in Vancouver, Canada, late last year at the request of American authorities. The request will be filed by Tuesday.
China appears to be easing its high-tech industrial development push, dubbed "Made in China 2025," which has long irked the United States, amid talks between the two countries to reduce trade tensions, according to new guidance to local governments. Beijing has dropped references to "Made in China 2025," an initiative intended to help China catch up with global rivals in sophisticated technologies and promoted aggressively since 2015.
Meng Wanzhou, one of Huawei’s top executives and the eldest daughter of the company’s founder/CEO, will be released on bail and kept under tight monitoring over bank fraud allegations, a Canadian court ruled today. The Star Vancouver reported the decision Tuesday, which comes after a growing wave of Chinese nationalist sentiment brought protesters out to demand Meng’s release and even led Vancouver residents offer up their homes to prove Meng wouldn’t be a flight risk.
Chinese officials have long engaged in a propaganda campaign to portray themselves as the aggrieved party and Trump as the unfair, protectionist aggressor who is inappropriately intruding on China’s domestic policy prerogatives. But while it is to be expected that the Chinese would attempt to spin their egregious innovation mercantilism this way, it’s disappointing that many commentators and opinion leaders in the West seem to have fallen for the ruse.