Sen. Rick Scott (R-Fla.) said Tuesday that he does not believe President Trump will be able to strike a trade deal with China, particularly if Chinese telecom firm Huawei is involved. After a months-long stalemate, Trump announced this week that talks with Beijing had resumed with a goal of striking tariffs and resuming more open trade, but Scott, a former Florida governor, called Huawei a non-starter.
Global markets have rallied on the re-ignition of trade talks between the U.S. and China after President Donald Trump and President Xi Jinping’s meeting at the weekend, but analysts say China is already adapting to the changing business landscape and that trade (and particularly, technological) relations will never be the same again.
As part of the continuing trade negotiations, the issue of Huawei would be saved until the end of the trade talks, with President Trump saying, We’ll have to save that to the very end, we’ll have to see.” In other words, the question of lifting the ban on Huawei selling its products, which include smartphones, laptops and communications infrastructure technologies, to the U.S. has not been changed.
Ahead of a high-stakes meeting Saturday with Chinese President Xi Jinping, President Trump has expanded a new battle front with Beijing and other leading U.S. foes: a technology war.
In this rule, the Bureau of Industry and Security (BIS) amends the Export Administration Regulations (EAR) by adding five entities to the Entity List. These five entities have been determined by the U.S. Government to be acting contrary to the national security or foreign policy interests of the United States. These entities will be listed on the Entity List under the destination of China. This rule also modifies one entry on the Entity List under the destination of China.
Hundreds of companies began queuing up to testify in Washington on Monday for seven days of hearings on the Trump administration's proposal to jack up tariffs on Chinese imports. A common theme of their testimony: Americans would feel the pinch on everything from mobile phones and laptops to apparel, fireworks and Christmas ornaments.
Of America’s five biggest tech companies, Apple looks to be the most vulnerable to the current tumult in trade between China and the US. And now one technology analyst says the next six months could be “choppy,” as the high stakes trade war between the U.S. and China intensifies.
The escalating trade war between the United States and China has gone beyond tariffs as the countries increase pressure on each other to cede ground.
How should Washington deal with an authoritarian regime that is expanding its influence abroad and repressing its citizens at home? That is the question the United States faces today in dealing with Xi Jinping’s China. But it is not a new challenge. After World War II, the United States faced another authoritarian state intent on expanding its borders, intimidating its neighbors, undermining democratic institutions, exporting its authoritarian model, and stealing U.S. technology and know-how.
Regardless of what led to a failure to conclude a trade agreement between the US and China, the new reality is that hardliners on both sides have now gained the upper hand over those seeking to find an agreed way forward. It means both sides now have fewer inhibitions to provoke the other on trade, and even more sensitive and dangerous subjects.