China backtracked on nearly all aspects of U.S. trade deal - sources

[Eugene]

Source: Reuters

BUSINESS NEWS MAY 8, 2019 / 4:52 AM / UPDATED 43 MINUTES AGO

Exclusive: China backtracked on nearly all aspects of U.S. trade deal - sources

David Lawder, Jeff Mason, Michael Martina
6 MIN READ

WASHINGTON/BEIJING (Reuters) - The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.

The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.

In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

U.S. President Donald Trump responded in a tweet on Sunday vowing to raise tariffs on $200 billion worth of Chinese goods from 10 to 25 percent on Friday – timed to land in the middle of a scheduled visit by China’s Vice Premier Liu He to Washington to continue trade talks.

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Read more: https://www.reuters.com/article/us-usa-trade-china-backtracking-exclusiv/exclusive-china-backtracked-on-nearly-all-aspects-of-u-s-trade-deal-sources-idUSKCN1SE0WJ

[Zoonart]

1. NO kidding?

When is everyone going to wake up and realize that we don't have a functioning governmtnet. The cabinet dept. heads are all unqualified crooks. All of the career diplomats and pillars of every agancy have fled.

Every 'deal" is falling apart because it is ALL built on sand and wind.

[katmondoo]

2. What is Walmart going to do ?

[Ghost Dog]

3. Raise prices, of course.

The customer pays.