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Media Report
June 24 , 2019
  • Bloomberg reports, "The U.S. and China are discussing arrangements for the meeting between Donald Trump and Xi Jinping on the sidelines of the Group of 20 summit, a senior Chinese trade official said, as Beijing warned about consequences of American trade measures. The trade teams were working to implement the decision by the top leaders, Vice Commerce Minster Wang Shouwen told a news briefing Monday in Beijing. Wang provided no specifics on what communications have occurred. 'Compromise will be on both sides. It will be a two-way street,' he said, adding that any talks must be based on mutual respect, meaning 'respect for each other's sovereignty.' The face-to-face meeting between the leaders of the world's two largest economies will be closely watched, as markets anticipate an effort to cool mounting trade and security disputes."

  • The Wall Street Journal reports, "The Trump administration is examining whether to require that next-generation 5G cellular equipment used in the U.S. be designed and manufactured outside China, according to people familiar with the matter. The move could reshape global manufacturing and further fan tensions between the countries. A White House executive order last month to restrict some foreign-made networking gear and services due to cybersecurity concerns started a 150-day review of the U.S. telecommunications supply chain. As part of that review, U.S. officials are asking telecom-equipment manufacturers whether they can make and develop U.S.-bound hardware, which includes cellular-tower electronics as well as routers and switches, and software outside of China, the people said. The conversations are in early and informal stages, they said."
  • The Washington Post reports, "President Trump's trade war with China, a crucial test of his vow to level the economic playing field, is emerging as a proxy in a contest with former vice president Joe Biden over who can blunt the Asian power's challenge to U.S. global standing. As he has escalated a tariff fight with Beijing, Trump has seized on comments Biden made last month that China is 'not competition for us' and called him 'a dummy' for underestimating the threat posed by its predatory economic practices. 'China is a major competitor,' Trump told reporters, blaming the Obama administration for contributing to a U.S. trade deficit that last year reached $420 billion. The president then cast himself as the one finally standing up to Beijing's bullying. 'China wants to make a deal very badly,' Trump said. 'It's me, right now, that's holding up the deal.'"
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