The United States is not seeking a trade war with China and top USA officials are looking to make a deal with Beijing, White House economic adviser Larry Kudlow said on Tuesday as talks between the two nations were set to resume.
CHINA FACTOR: President Donald Trump tweeted Sunday that he was working with President Xi Jinping of China to put Chinese telecom ZTE "back into business, fast" after US sanctions threatened ZTE's existence and 70,000 Chinese jobs. "Everyone is looking for some kind of deal", he told Politico in an interview, adding that no agreement had been reached yet.
Cargill's comments come as the US Ambassador to China, Terry Branstad, said the US and China are still "very far apart" on resolving trade frictions. "Free and open trade, I think that's the solution".
He added that US President Donald Trump would like to see a "dramatic increase" in food exports to China.
Today begins three days of trade hearings in which U.S. corporations will make their case against President Trump's proposed $50 billion in tariffs on Chinese imports. Trump has proposed imposing tariffs on up to $150 billion in Chinese products.
Commerce Secretary Wilbur Ross says the department will be exploring "alternative remedies" to punish the Chinese company ZTE for defying trade sanctions. "Stay tuned!" Trump tweeted on Tuesday. Last month, the U.S. Commerce Department banned it from buying U.S. technology or components for seven years after it misled regulators by failing to discipline employees involved in illegal exports and instead paid them bonuses. China counterpunched with tariffs on a range of USA products, including bourbon and blue jeans.
Salmonella outbreak sickens 35 in nine states
Nine states have reported infected people. "Which eggs have Salmonella and which ones don't?" said Food Safety Guy Lars Johnson. Last month, more than 200 million eggs from the North Carolina farm were recalled because of bacterial contamination.
The first round of trade talks between China and the US took place in Beijing on May 3 to 4.
In March, Washington introduced a 25 per cent tariff on imported steel and a 10-per cent tariff on imported aluminium.
More than 120 industry and business representatives from the United States and China will have an opportunity to testify before the interagency Section 301 Committee on the potential impact of the tariff plan over the next three days, according to the USTR's Office.
Trump is seeking to cut the chronic USA trade deficit by $100 billion and gain concessions over the policies that foreign companies say force them to share technology in order to gain market access.
ZTE should not be operating in the United States and should not have easy access to American technology, Rubio said.