ZCZC
BCN-08
US-CHINA-TRADE-TARIFFS
Pence: tariffs part of enforcement in a US-China trade deal
WASHINGTON, May 4, 2019 (BSS/AFP) – The removal of tough US tariffs on
Chinese goods will be part of enforcing any new trade deal between Beijing
and Washington, US Vice President Mike Pence said Friday.
Pence told CNBC television that President Donald Trump remained “very
hopeful” about the current round of trade talks, which officials have
repeatedly said are nearing a conclusion.
“The manner in which tariffs would come off is going to be a part of an
enforcement mechanism and all of that is a subject of negotiations as we
talk,” Pence said.
Chinese officials are due in Washington on Wednesday to continue talks
held in Beijing this week.
Last year, the world’s two top economies slapped tariffs on more than $360
billion in two-way merchandise trade as Washington accused China of seeking
global industrial dominance on the back of alleged unfair trade practices,
such as forced technology transfer and massive state intervention in markets.
The tariffs have hit the US agricultural sector and both sides’
manufacturing industries.
But American officials have demanded that any agreement have teeth to
prevent the Chinese side from backsliding on commitments they make.
US officials have been reluctant to say publicly whether they expect to
lift the tariffs as part of any agreement or keep them in place as a
guarantee.
“We had a briefing here at the White House yesterday,” Pence told CNBC.
“We’re going to be welcoming the vice premier next week and those
negotiations are ongoing. President Trump remains very hopeful.”
Treasury Secretary Steven Mnuchin has said the trade deal’s enforcement
provisions are nearly complete.
But analysts say it remains unclear how far China will go in meeting US
demands for fundamental changes in industrial policy that could weaken the
communist party’s hold on power.
BSS/AFP/HR/0940