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Media Report
July 18 , 2019
  • Reuters reports, "U.S. and Chinese officials will speak on Thursday, potentially paving the way for in-person trade talks to resume, U.S. Treasury Secretary Steven Mnuchin said on Monday, as the world's two largest economies seek to end a year-long trade war. Mnuchin and U.S. Trade Representative Robert Lighthizer will speak on the phone with their Chinese counterparts, the Treasury Secretary said in an interview along the sidelines of the G7 meeting in Chantilly, France. The United States and China have been embroiled in a tit-for-tat tariff battle since July 2018, as Washington presses Beijing to address what it sees as decades of unfair and illegal trading practices. China has countered that any deal needs to be fair and equitable, leaving the two sides apparently still far from an agreement to end the back-and-forth that has roiled global supply chains and upended financial markets."
  • CNBC reports, "The pace of companies moving production out of China is accelerating as more than 50 multinationals from Apple to Nintendo to Dell are rushing to escape the punitive tariffs placed by the U.S., according to the Nikkei Asian review. The trade war between the U.S. and China has dragged on for more than a year with 25% tariffs placed on $200 billion of Chinese goods. President Donald Trump is still threatening to slap duties on another $325 billion of goods. In wake of the intensifying battle, more and more companies announced plans or are considering shifting manufacturing from China. American personal computer makers HP and Dell could move up to 30% of their notebook production in China to Southeast Asia, Nikkei reported. Apple has asked its major suppliers to assess the cost implications of moving 15% to 30% of their production capacity from China to India, according to an earlier report from the Nikkei."
  • Reuters reports, "U.S. President Donald Trump, who has made religious freedom a centerpiece of his foreign policy, met on Wednesday with victims of religious persecution from countries including China, Turkey, North Korea, Iran and Myanmar. Trump counts evangelical Christians among his core supporters and the State Department is hosting a conference on the topic this week that will be attended by Vice President Mike Pence and Secretary of State Mike Pompeo. Four of the 27 participants in the Oval Office meeting were from China, the White House said: Jewher Ilham, a Uighur Muslim; Yuhua Zhang, a Falun Gong practitioner; Nyima Lhamo, a Tibetan Buddhist; and Manping Ouyang, a Christian. China sentenced Ilham's father, Ilham Tohti, an economics professor and Uighur rights advocate, to life in prison on charges of separatism in 2014, drawing condemnation at the time from the United States and international rights groups."
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