US Trade War Archives

NOVANEWS By Stephen Lendman Following May 17 and 18 trade talks in Washington, a joint statement said the following: “To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services. This will help support growth and employment in the United States.” “There was a consensus on taking effective measures to substantially reduce the United States’ trade deficit in goods with China.” Lead Beijing trade negotiator/Vice Premier Liu He said it’ll take time to resolve differences between both countries. In 2017, China’s trade surplus with America was a record-high $375 billion. The devil is in the details on what was agreed on – to be discussed in further talks. N...

NOVANEWS By Nick Beams World Socialist Web Site The US trade war against China has claimed its first major victim with the telecom firm ZTE announcing that the “major operating activities of the company have ceased.” The announcement, which came in a statement issued to the Hong Kong stock exchange late on Wednesday, is the result of a seven-year ban imposed by the Trump administration on sales of US components to the company last month, claiming it had breached the terms of a settlement of a deal over the company’s sales to Iran and North Korea. The company operates on a global scale, doing business in more than 160 countries with over 74,000 employees. It generated revenues of $17 billion last year and recorded a profit of more than $700 million. It is the fourth largest sm...

Tag: US Trade War

Sino/US Trade War Averted?

US Trade War Claims China’s Telecom Firm ZTE as First Victim