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Media Report
May 22 , 2018
  • CNBC reports: "President Donald Trump says his administration has not yet reached a deal with China on saving Chinese telecommunications company ZTE, contrary to reports. Trump faces bipartisan backlash on Capitol Hill over a potential deal to lift sanctions on the company. The president says he is not satisfied with trade talks with China that took place in Washington last week."
  • CNN reports: "China is cutting the tariffs it charges on imported cars, giving a potential boost to foreign automakers in the world's largest market. The Chinese Finance Ministry said Tuesday that it will cut import duties on passenger vehicles to from 25% to 15%, starting July 1. The announcement, which fulfills an earlier pledge by Chinese President Xi Jinping, comes just days after China and the United States agreed to a ceasefire in their recent trade hostilities."
  • Wall Street Journal comments: "Among all the trade fights that President Donald Trump has picked, his hand against China is the strongest. That fight has economic, strategic and political logic that his confrontations with Canada, Mexico, Western Europe and Japan lack. Yet China, incredibly, appears to be winning. Though it is still early days, China has thus far escaped the bulk of threatened U.S. tariffs while giving up almost nothing of substance. Mr. Trump initially seemed to have more stomach for confrontation with China than his predecessors. Instead, China has shrewdly exploited his weak points: his hopes for a breakthrough with North Korea, a Chinese client; a low threshold for political pain, especially in Republican farm states; and a readiness to play China's game of using legal proceedings as a commercial bargaining chip."

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