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Tesla Set To Win Big As China Slashes Car Import Tariffs

Trump proposes face-saving deal for ZTE- but Congress might oppose

President Donald Trump cast doubt Wednesday on the prospects for talks that are created to head off a trade war between the United States and China.

The US Commerce Department said Wednesday it launched an inquiry that could allow the Trump administration to impose tariffs on auto imports over national security concerns.

Against the backdrop of trade threats that have escalated since then, any new announcement of lower Chinese duties can be presented as further evidence that Beijing is living up to its side of a bargain struck in Washington to import more goods from the U.S. On Wednesday, Trump cast doubt on a recent thaw between the two sides, saying on Twitter that a deal will "be too hard to get done".

"U.S. soybean farmers welcome the news that the United States and China have reached a general consensus on some aspects of trade between the two countries, and we look forward to learning the specifics about how U.S. agricultural trade will play an important role in improving the Sino-U.S. trade imbalance", Arkansas soybean farmer Derek Haigwood, chairman of the U.S. Soybean Export Council, said in a statement.

China was the European Union's biggest source of imports and its second largest export market past year, while the U.S. was the EU's largest export market and second biggest provider of imports.

China's state media put a positive spin on the outcome, citing an interview with Liu in Washington on Saturday in which he said the sides agreed avoid trade war and "stop slapping tariffs against each other", the Xinhua News Agency said.

And the move nearly certainly won't shave $200 billion off the USA trade deficit, which is what White House officials were hoping for. "They care about one thing, and that's Made in China 2025".

President Donald Trump said today that at the request of Chinese President Xi Jinping, the United States was looking at sanctions against the Chinese telecom giant ZTE. This is less than the 2.5 per cent the United States demanded but is viewed as moving in a positive direction.

Several cases emerged in 2016 of China using its intelligence services and employing other illicit approaches that violate United States laws and export controls to obtain national security and export-restricted technologies, controlled equipment and other materials, they said.

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Iran foe Israel's Prime Minister Benjamin Netanyahu hailed Pompeo's speech, and urged the rest of the world to follow suit. Pompeo declared: "We will ensure freedom of navigation on the waters in the region".

"I'm a firm believer that China will continue ... to take what they committed from Brazil - and it will be tough to really boost USA soybean exports over the short term", said Terry Reilly, senior commodity analyst for Futures International in Chicago. But Trump said on Tuesday that he had agreed to re-examine the matter as a personal favour to Chinese President Xi Jinping. "If the U.S. sets a strong push for voluntary imports from the USA by China, one attitude China could take is to import less from Europe, including industrial products and cars", he said.

U.S. Treasury Secretary Steven Mnuchin announced Sunday that the U.S. trade war was "on hold."That followed two days of talks last week between U.S. and Chinese negotiators in Washington".

Amid easing of tensions in the U.S. "We are looking for a permanent exemption". "On China, Barriers and Tariffs to come down for first time".

A similar move in the auto industry would open yet another front in the Republican president's confrontational rows over trade that have drawn global outcry from allies and partners.

Roughly one-third of all USA vehicle imports past year were from Asia. Europe is also a big exporter to the U.S.

Trump campaigned in 2016 on a pledge to get tough on China and other U.S. trading partners.

The easiest way for Beijing to do this would be to ask its state-owned enterprises (SOEs) to achieve the target of buying more from the U.S., which in turn could severely affect the European aircraft industry, among other sectors, she said.

The White House disputes the idea that Trump has gone soft on China and is certain to bill the trade deal, when it is confirmed, as a significant step, however it is portrayed by experts. Import tariffs on auto parts will be reduced to 6 percent from the current levels of 8-25 percent.

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