Published: Wed, May 16, 2018
Global News | By Stacy Ballard

Rep. Eric Swalwell: Trump needs to divest from family businesses

Rep. Eric Swalwell: Trump needs to divest from family businesses

Vice Premier Liu He - considered President Xi Jinping's right-hand man on economic issues - led talks with Ross and a senior USA team in Beijing early this month, and will head the Chinese delegation to Washington this week.

Kudlow, speaking in a live interview with Politico news outlet, said he backed U.S. Treasury Secretary Steven Mnuchin's efforts to reach an agreement with Beijing and that both countries must take action. "You do a good deal for him, he does a good deal for you. I call it a trade coalition of the willing".

Over this weekend, many of us were surprised, if not shocked by this Trump tweet in which he stated he would be instructing his Commerce Department to help ZTE. ZTE was punished for violating the terms of a settlement deal, because it breached existing USA sanctions that prohibited companies from selling goods to Iran and North Korea. USA shares were set to drift lower with Dow futures down 0.2 percent at 24,827.

The National Foreign Trade Council (NFTC) also warned that the imposition of unilateral tariff remedies proposed by the administration is "premature" and would "do greater harm than good to USA economic interests".

"This president has taken China to task for its unfair trade practices", he said.

Beijing's chief economic negotiator, Vice-Premier Liu He, was headed to Washington on Tuesday for more talks with his US counterparts.

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The suggestion outraged members of Congress who have been pressing for more restrictions on ZTE.

"This is principally an enforcement issue, by the way".

"Unilateral tariffs will address none of these issues, however, and will inflict real economic harm on USA businesses and consumers", the USCBC said, suggesting a comprehensive and strategic approach that sets short, medium, and long-term negotiating objectives to address industry concerns.

How, the major issue seems to be the timing which perhaps reflects a motivating influence for let's help Chinese jobs tweet, in the first place. "I don't want to get that far down the road, but I think that's the intent".

"President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast", Trump tweeted Sunday.

The two delegations addressed issues relating to expanding US exports to China, bilateral trade in services, bilateral investments, intellectual property protection and tariffs. "We want to see these things happen sooner or later", he said at a conference in Tokyo. "They would run out of targets for tariffs much sooner than we would".

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Another Republican, Senator John Kennedy, defended Trump, saying the president's approach is part of a larger set of negotiations with China.

Cargill's comments come as the US Ambassador to China, Terry Branstad, said the US and China are still "very far apart" on resolving trade frictions.

Branstad said the United States could rescind the "Section 301" tariffs if China opened its agriculture and auto markets.

"The United States and China are the two biggest economies in the world".

"China is poised to announce more market opening measures, following moves in the finance and automobile sectors", Gary Liu Shengjun, the head of the China Financial Reform Institute in Shanghai said. Marco Rubio, R-Fla., tweeted Sunday that it would be "crazy" to allow ZTE to operate in the US without tighter restrictions.

"Lingering trade tension and uncertainty will likely negatively affect China's export orders and related business investment".

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