Nine months into a trade war with China, US softens its demand for China to curb its industrial subsidies as a condition for a trade deal after pressure from Beijing
U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, White House economic adviser Larry Kudlow and White House trade adviser Peter Navarro pose for a photograph with China's Vice Premier Liu He, Chinese vice ministers and senior officials before the start of U.S.-China trade talks at the White House in Washington, U.S., February 21, 2019.
Beijing grants subsidies and tax breaks to state-owned firms and to sectors seen as strategic for long-term development. Chinese President Xi Jinping has strengthened the state’s role in parts of the economy. A representative for the White House referred Reuters to the US Trade Representative’s Office, which did not respond to a request for comment.
China's Vice Premier Liu He pose for a photo with US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer at Diaoyutai State Guesthouse in Beijing on March 29, 2019. One of the key sticking points in the negotiations is the removal of the $250 billion in US tariffs.
Pressure from the United States on allies to reduce cooperation with Chinese telecommunications champions such as Huawei Technologies could push the government into raising state support to develop technology at home.Subsidies and tax breaks have been a source of friction between the two countries for years.
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