Chinese exports to the U.S. have tumbled as President Trump’s tariffs take hold. Beijing’s exports to the U.S. fell 22 percent in September with total exports falling 3.2 percent. Imports also fell sharply and are down 8.5 percent from September 2018.
China may be open to a partial trade deal with the U.S. ahead of negotiations in Washington this week. Recent reports said Beijing is willing to discuss a smaller scale deal if President Trump vows not to impose additional tariffs.
White House Economic Adviser Larry Kudlow says the U.S. and China are starting with a “clean slate” for this week’s trade talks. He told reporters that deputy level talks are underway ahead of principal level talks at the end of the week
The U.S. is set to impose tariffs on $7.5 billion of EU goods, which some say will trigger a transatlantic trade war. The penalty is the highest ever awarded by the World Trade Organization.
The United States-Mexico-Canada Agreement (USMCA) is reportedly inching closer to the House floor. Vice President Mike Pence said Thursday the administration is “absolutely determined” to submit the deal sometime this year.
Huawei’s CEO appears to be extending an olive branch to the U.S. On Thursday, Huawei Technologies Founder and CEO Ren Zhengfei stated that he is willing to test out the licensing of Huawei’s fifth generation (5G) products to a company in the United States.
Vice President Mike Pence recently delivered a speech at the Heritage Foundation, where he pushed Congress to pass the USMCA trade deal. One America’s Chanel Rion has the details from Washington.
House Speaker Nancy Pelosi said she believes the president had to something about China. During an interview Tuesday, she claimed President Trump had to challenge China, although she is unsure about the steps he took towards holding the country accountable for its abusive trade practices.
The Defense Department is composing a list of companies with ties to the Chinese military. The Pentagon is reportedly identifying Chinese companies and organizations with direct or indirect links to Beijing.