Washington and Beijing began formal negotiations towards a bilateral investment treaty (BIT) in June 2008. A year later, the highly sensitive talks were halted until July 2013. The US is interested in getting Chinese restrictions on foreign ownership in about 100 sectors — from soybean oil and automobiles to life insurance and other financial services — lifted for US companies which want to expand their market presence there. The Chinese government is interested in getting more security for highly-scrutinised Chinese investments in the US and its massive holdings of US sovereign debt ($1.3 trillion).
In late 2013, China agreed to initiate talks on a possible BIT with the European Union as well.
China has offered to buy American products in exchange for a delay in a series of US tariffs and easing of a supply ban against telecoms giant Huawei.
It’s a good guess that the new global economic system will give overt political considerations greater weight than its predecessor. Countries will link trade benefits and penalties to their political agendas.
Top US and Chinese trade officials met in Shanghai for talks in a bid to end a year-long trade war, despite low expectations for progress
The Trump administration imposed new tariffs on Chinese goods to try to force changes in China’s trade, subsidy and intellectual property practices.
President Trump’s top trade negotiator raised doubts that a trade agreement with China was within reach, while also aiming to negotiate trade deals with Europe and Japan.
Amid rising tensions in the US-China bilateral relationship and increasing fears of a now-realized trade war, President Donald Trump announced that he would consider rejoining the Trans-Pacific Partnership (TPP).
China will keep a close watch on the strategy adopted by the United States vis-a-vis inbound investments and continue to oppose the use of national security to limit foreign investments, the Ministry of Commerce said on Thursday.
Following a 2003 ban on US beef due to bovine spongiform encephalopathy (BSE) or mad cow disease, China has allowed boneless US beef from cattle under 30 months back in since last June.
The Association of Southeast Asian Nations will not take the brewing trade conflict between the United States and China sitting down, as the regional bloc will urge the two economies to shun protectionism in favor of free trade at its 32nd summit this week.
he prospect of a trade war with China may seem far off, but US proposals to steeply raise tariffs on its goods, along with the Chinese response, could hit Texans close to home.