US-China Talks Under Way Again

The United States and China began the first round of their biannual trade negotiations yesterday, with talks set to focus on technology products. The US hopes to be able to negotiate a reduction in the duty obligations of firms exporting to China, a vital market for America’s leading industry.Mobile_Phone_Components

Although both countries are signatories to the WTO’s  ITA, which removes tariffs on many such goods, China requested 57 items be placed on the exclusion list, whilst the US protects its Fibre Optic. If a deal can successfully be achieved, then this is good news for the steel industry, which supplies vast quantities of goods to the technology firms.

 

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