US Treasury Secretary Mnuchin to Visit China Next Week for Trade Talks

President Trump meets with Chinese Vice Premier Liu He at the White House on Jan. 31

President Trump meets with Chinese Vice Premier Liu He at the White House on Jan. 31

"But it must include real, structural change to end unfair trade practices, reduce our chronic trade deficit, and protect American jobs", he also said.

President Donald Trump and Chinese leader Xi Jinping agreed to a 90-day truce in the ongoing trade war, but U.S. tariffs on US$200 billion (RM818.1 billion) in Chinese imports are due to more than double to 25 per cent if no deal is reached.

USA president Donald Trump said in his annual State of the Union speech on Tuesday that his country's aggressive trade negotiations with China would mean an end to Beijing's alleged "theft" of American jobs and wealth. The United States wants China to reduce subsidies for government-run industries, increase purchases of American agricultural and manufactured products, end forced technology transfers and improve protections for USA intellectual property. But I don't blame China for taking advantage of us, I blame our leaders and representatives for allowing this travesty to happen.

Trump's negotiators want Beijing to more strenuously enforce American intellectual property rights, stop cyber-hacking of trade secrets, curb industrial subsidies and end policies that coerce USA companies to turn over technology to Chinese competitors as a price of doing business in China's vast market.

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To build on American incredible economic success, he said one priority is paramount - reversing decades of calamitous trade policies.

Trump also praised the administration's efforts to "significantly improve" the United States-Korea Free Trade Agreement (KORUS); and new negotiations that have opened with the European Union, the United Kingdom, and Japan, "which will secure access for American products and services".

In the speech, Mr Trump signalled that the United States would take a tough stance.

The study estimates that of the $250 billion in Chinese exports subject to U.S. tariffs, about 82% will be captured by firms in other countries, about 12% will be retained by Chinese firms, and only about 6% will be captured by USA firms.

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"A real deal still has to take shape", said Scott Kennedy, a China expert at the Center for Strategic and International Studies."Everything between now and when the USA delegation goes to Beijing is 100 percent noise". I got them down to 50 per cent, just by talking for about two minutes.

'As you know the president is involved in a very detailed way in these negotiations.

Mr Trump also pushed for additional legislation that could expand his power to impose tariffs.

"India has a very high tariff". They are reluctant to make big investment decisions that could become unprofitable if the tariffs are reversed. We are putting in an enormous amount of effort to try to hit this deadline and get a deal.

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Microsoft refuses to release sales figures for the Xbox One, but it's now thought to be on a lifetime total of around 41 million. Super Smash Bros Ultimate , which released on December 7, sold 12.08 million units in just 24 days.

While not yet ratified, Trump said it would "positively impact the lives of countless workers, business owners, farmers, and the families and the communities they support", as well as offering protections for intellectual property, labour and the environment.

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