Xi also was demanding as preconditions that the US lift punitive tariffs and end attempts to get China to buy even more US exports than Beijing said it would when the two leaders met in Buenos Aires last November.
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Since Trump is not likely to back down on Huawei, which he has accused of working with the Chinese government to eavesdrop on American military and corporate communications, the prospects for a positive outcome of the talks seem fairly dim. The United States and China had appeared close to a trade agreement in April, when the Trump administration said the Chinese side suddenly decided to rewrite portions of the agreed text that dealt with changing Chinese laws on state-owned companies.
The China market is also much more monolithic than the US market, with big American companies worried that Chinese consumers will boycott their products out of a sense of national loyalty.
China Sets Preconditions For A U.S. Trade Deal
I have been a financial journalist for many years, specializing in global economic questions for a variety of publications. Financial markets have calmed somewhat amid signs that China would not allow the yuan to weaken much further after letting it slip below 7 per dollar for the first time in over a decade.
Tensions could spike further after the release of an interim U. The ban was part of a defense law passed last year and is part of a broad U.
Kudlow: U.S. may never reach trade deal with China - POLITICO
Washington has accused the company of espionage and stealing intellectual property. Huawei has repeatedly denied it is controlled by the Chinese government, military or intelligence services. It has sued the U.
Trump had assured Xi that some of restrictions on Huawei would be relaxed, but U. The response from allies has been mixed.
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