Commerce chief voices cautious optimism on China
143 views · Published 17 December 2018 · 1:27 · Indexed 23 October 2026
Channel: AP Archive · 2018 · News & Politics
(12 Dec 2018) U.S. Commerce Secretary Wilbur Ross voiced cautious optimism on the topic of trade with China one day after U.S. and Chinese officials discussed plans for trade talks despite tension over the arrest of a Chinese tech executive. Ross said in response to pressure from the Trump administration, China is going to reduce its tariffs on imported automobiles. "It's billions of dollars of revenue, and I think it's a sign of goodwill that they're moving in the right direction," Ross said. Tuesday, President Donald Trump tweeted that discussions between the world's two largest economies have been "very productive" and that "some important announcements" regarding the trade talks are coming. He didn't elaborate. But his White House counselor Kellyanne Conway cited news reports that China appears to be moving toward reducing tariffs on cars made in the U.S. to 15 percent from 40 percent. Trump agreed on Dec. 1 to postpone more U.S. tariff hikes on Chinese goods for 90 days while the two sides negotiate over American complaints about Beijing's technology policies. The Huawei chief financial officer, Meng Wanzhou, was arrested the same day in Vancouver, British Columbia. Since then, she has been released on bail. Despite the arrest, China's commerce ministry said last week that Beijing would carry out terms of the cease-fire and expressed optimism a deal can be reached during the 90-day period. Asked by a reporter if the arrest could complicate trade talks, Ross said, "Doesn't seem to have so far." "I think everybody knows this is an enforcement action, not a trade-related action," Ross said. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/4d9fd3b7be04cabf80aa2ccb3447267b
