October 21, 2019
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Trump officials say China pursuing blame game on trade talks breakdown

Trump officials say China pursuing blame game on trade talks breakdown Market focus has shifted to monetary policy this week, with a flurry of central banks across the world set to announce whether to adjust interest rate settings. The U.S. China trade war and the threat that Chinese firms could be cut off from American technology has boosted China and x27;s push for its own semiconductor industry. Apple, Google, Facebook and Amazon are facing potential regulatory scrutiny and investors are paying close attention. Trump, who objected to past disaster relief efforts over funding allotted for the hurricane ravaged U.S. territory of Puerto Rico, said he would support the plan passed… Apple announced new versions of its software for iPhones, iPads and Macs at its annual software developers event Monday. Luminous wants to use silicon photonics a way to move data quickly with light to build a chip that can outperform Google and x27;s latest AI hardware. Big names are signing on. Walmart hopes to retain more young talent, with degrees in fields related to technology. Beijing is stepping up its warnings against the U.S. by cautioning Chinese people about working, studying and traveling in America. About 11.9 million Quest Diagnostics patients may have had their financial, medical and other personal information exposed in a data breach, the company said Monday. Trade uncertainties are high on the minds of investors and businesses — but they and x27;re not the only risk facing the U.S. economy right now, said Mary Daly, president and chief… A 20 foot tall blimp depicting President Donald Trump as a baby was raised Tuesday morning in London, with thousands expected to protest against the U.S. president and x27;s state… Italy appears to have lurched further into another political crisis with gusto although Matteo Salvini is insisting that he has no intention of bringing down the government. President administration said on Monday that was pursuing a blame game in recent public statements and a weekend white paper that misrepresented the trade negotiations between the world and x27;s two largest economies. In a joint statement, the U.S. Trade Representative and x27;s USTR office and the U.S. Treasury reiterated their view that China and x27;s negotiators had backpedaled on important elements of a deal that had been largely agreed, including on an enforcement provision. Our insistence on detailed and enforceable commitments from the Chinese in no way constitutes a threat to Chinese sovereignty, USTR and the Treasury said. Rather, the issues discussed are common to trade agreements and are necessary to address the systemic issues that have contributed to persistent and unsustainable trade deficits. China on Sunday issued a government policy paper on the U.S. China trade dispute in which it asserted that the United States bore responsibility for setbacks in the talks, citing three instances in which had backtracked on commitments made during the negotiations. China and x27;s Vice Commerce Minister Wang Shouwen, a prominent member of negotiating team, said in presenting the paper to the media that it would be impossible for the United States to use extreme pressure to force concessions from China. Acrimonious rhetoric between Beijing and Washington has steadily increased since talks broke down in early May over U.S. accusations that Beijing had backtracked on commitments to codify in law changes to its intellectual property and technology transfer practices to address U.S. demands. President Donald Trump imposed an increase in tariffs to 25 percent on a dollar 200 billion list of Chinese goods on May 10, saying that China broke the deal. His administration later imposed severe sanctions against Huawei Technologies Co, China and x27;s premier telecommunications equipment firm. The United States is disappointed that the Chinese have chosen in the and x27;White Paper and x27; issued on Sunday and recent public statements to pursue a blame game misrepresenting the nature and history of trade negotiations between the two countries, USTR and Treasury said in the statement. The agencies, which have taken the lead in negotiations for the U.S. side, said that the impetus for the negotiations was China and x27;s long history of unfair trade practices, and U.S. negotiating positions have been consistent throughout the talks. There have been no talks scheduled since the last round ended in May, and it remains unclear whether Trump and Chinese President will meet when they both attend the G20 leaders summit later this month in . Got a confidential news tip? We want to hear from you. 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David Frank