According to an Associated Press article from June 1st, U.S. Commerce Secretary Wilbur Ross arrived in Beijing on Saturday for talks on China’s promise to buy more American goods.
The talks are about China’s May 19th announcement to narrow the trade surplus with the US, which reached a record high of $375 billion USD last year. China previously indicated they would increase purchase of farm goods, energy and other goods and services.
Additionally, the US may not get the commitment it seeks in reducing the trade deficit as China’s “Made in China 2025” plan seeks to establish China as an industry leader in high tech industries such as robotics, computer chips and electric vehicles.
A resolution may not occur with just one meeting as Trump has threatened tariffs on $100 billion of Chinese goods and China threatening retaliatory tariffs on $50 billion of US goods.
Check back for the latest news of the results of the Secretary Ross meeting.
If you have any questions about current antidumping or countervailing duty actions on goods from China – feel free to call experienced trade attorney, David Hsu at 832-896-6288 or by email at email@example.com.