China Caves to President Trump in U.S. Trade War

China caved to President Trump’s Trade War demands as state-media published plans that foreign investors will no longer be subject to compulsory technology transfers. As China’s Vice Premier Liu He was holding a televised meeting with President Trump in the Oval Office to announce big increases for U.S. agricultural exports to China, its Xinhua News Agency announced that China’s President Xi Jinping hopes to meet with Trump just before a March 5 vote by China’s National People’s Congress to ratify elimination of rules for foreign investment mandatory foreign technology transfers. With the clock running down on Trump’s threat to increase a 10 percent tariff on $200 billion of Chinese exports to a 25 percent tariff on March 1, China is agreeing to meaningful structural trade reforms that the U.S. has been demanding for over a decade. The move will open a wide swath of China’s internal markets that have been closed to U.S. service...(Read Full Post)
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