Published: Tue, May 15, 2018
World | By Camille Rivera

Trump and Xi Move To Resolve Shutdown of ZTE Corp

Trump and Xi Move To Resolve Shutdown of ZTE Corp

When a US delegation led by Treasury Secretary Steve Mnuchin met with officials in Beijing last week, no deal was reached largely because China refused a demand to cut the trade deficit by $200 billion within the next two years.

He also said the "gap remains wide" in relation to trade negotiations, but expressed hope that President Trump's relationship with his Chinese counterpart will help lead to an agreement. "Everyone is looking for some kind of deal", he told Politico in an interview, adding that no agreement had been reached yet.

The US wants China to provide a timetable on how it will open up its markets to US exports, while the two countries are still "very far apart" on resolving trade issues, according to the US ambassador to China, cited by Reuters.

The U.S. -China Business Council (USCBC), which represents 200 American companies that are engaged in business with China, also urged the Trump administration to reconsider its tariff plan.

PM Modi will visit Nepal on 11th and 12th May
PM Modi is scheduled to depart for returning to India after receiving a civic reception in Kathmandu at Rashtriya Sabha Griha. According to the IBN, Nepal will receive Rs 348 billion over 25 years from the project.

Liu's trip to Washington follows a visit by Mnuchin and other US officials to Beijing earlier this month, where they conveyed a demand that China slash its trade surplus with the $200 billion by the end of 2020. "Stay tuned!" Trump tweeted on Tuesday.

ZTE announced last week the USA sanctions would force it to curtail major operations. The actions may be linked, and may bear on agricultural trade as well, although Commerce Secretary Wilbur Ross on May 14, 2018 insisted that the sanctions against ZTE had "nothing to do with trade".

It is no secret that the USA has a huge trade deficit with China. Last month, the U.S. Commerce Department banned it from buying U.S. technology or components for seven years after it misled regulators by failing to discipline employees involved in illegal exports and instead paid them bonuses.

Washington listed the items from China it proposes will be hit with an additional duty of 25% but within hours, Beijing hit back, announcing its own plans to levy a 25% tariff on USA imports that included beef, soybeans and whiskey.

U.S. calls for Venezuelan leader Nicolas Maduro to step down
Pence can be predicted to call for a delay from Venezuela's election, set for May 20, in his speech, " the aide explained. Pence also called on OAS member states to take "stronger action" on behalf of the Venezuelan people.

As part of this, they also entered into an agreement with the U.S. government. China's Commerce Ministry has pledged to immediately.

The United States is considering imposing tariffs on up to $150 billion of Chinese products, and Beijing has countered with proposed tariffs on $50 billion in American goods, including soybeans and small aircraft.

The widening trade dispute between the world's two biggest economies has taken a toll on both sides.

White House told to get smart on AI
STEM refers to a group of academic disciplines comprising science, technology, engineering and mathematics. Google , Amazon , Facebook and Microsoft are among dozens of tech firms attending.

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