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Media Report
April 12 , 2019
  • The New York Times reports, "As the United States and China edge closer to a trade agreement, the ability to reach a final deal is coming down to a central question: Will Beijing live up to its promises? Treasury Secretary Steven Mnuchin, in a CNBC interview on Wednesday, said that the countries had 'pretty much agreed' on an enforcement mechanism for a trade deal, adding that both sides would establish 'enforcement offices' to deal with continuing trade matters. But it remains unclear which provisions of the trade deal will be subject to enforcement and how much power the United States will have to punish Beijing if it reneges on the agreement. The ability to secure a firm commitment from China to hold up its end of the pact or face repercussions will be a key determinant in whether President Trump's trade deal is seen as a true win or a capitulation."

  • Reuters reports, "China's Huawei Technologies said on Thursday the security of its telecoms network equipment was as tight as any, and hit back at the U.S. government for briefing Washington's allies against it. Huawei, the global market leader, is the target of a campaign by Washington, which has barred it from next-generation 5G networks due to concerns over its ties to the Chinese government and says Western countries should block its technology. The issue is crucial because of 5G's leading role in internet-connected products ranging from self-driving cars and smart cities to augmented reality and artificial intelligence. 'We are probably the most tested vendor in the world,' Huawei's cybersecurity director Sophie Batas told journalists at its new cybersecurity center in Brussels. She criticized comments by Robert Strayer, U.S. State Department deputy assistant secretary for cyber, international communications and information policy, who told journalists on Wednesday that countries adopting risk-based security frameworks for 5G would lead to Huawei being banned."

  • Bloomberg reports, "Any trade deal between China and the U.S. should comply with multilateral rules, and not doing so may create economic risks for the Asian nation's other major trading partners should China import less from them, the International Monetary Fund said. China committing to more American imports 'could be a negative impact on third countries whose exports to China would be crowded out,' IMF Asia-Pacific Director Changyong Rhee said Friday at a briefing in Washington. 'The agreement should be consistent with multilateralism, rather than bilateral,' he said. 'If the deal involved preferential access for the U.S. to Chinese markets, this could lead to broader worries about the future of the multilateral trading system.' The two biggest economies are still ironing out details of an agreement, which would likely include China making major purchases of American agricultural, energy, and other products to reduce the trade gap with the U.S." 
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