China says it still plans to send a delegation to Washington this week for trade talks, despite President Trump’s announcement he’ll hike tariffs on Chinese goods later this week.
Trump is ratcheting up pressure on China with plans to hike from ten-percent to 25-percent tariffs on $200-billion in goods. The tariffs are an effort to dissuade the Chinese from backtracking on subsidy, cyber and other commitments.
China says it still plans to send a big delegation here this week, despite the threat, and a Wall Street Journal report China might cancel.
U.S. Trade Ambassador Robert Lighthizer told lawmakers earlier, the U.S. is not backing down from its demands.
“We can compete with anyone in the world, but we must have rules, enforced rules, that make sure market outcomes, not state capitalism, and technology theft, determine winners. President Trump, for years, has recognized this very serious, and I would say, existential problem, and he is determined to take action to defend our workers, farmers and ranchers, and our economic system.”
Key Democrats, including Senate Minority Leader Chuck Schumer, are urging Trump to “hang tough,” and not back down.
Lighthizer is still hoping the latest talks this week, assuming they happen, will be a turning point in reaching a historic trade deal.
“If we can complete this effort, and again, I say ‘if,’ and can reach a solution to the all-important, outstanding issue of enforceability, as well as some other concerns, we might be able to have an agreement that helps us turn the corner, in our economic relationship with China.”
Lighthizer complained to lawmakers that China has a record of breaking trade commitments, but the tariff war has cost U.S. agriculture and manufacturing billions in losses. China wants the tariffs off. Trump wants some, if not all, to stay on, to keep leverage in case China again, breaks its trade promises.