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Media Report
February 21 , 2019
  • Reuters reports, "The United States and China have started to outline commitments in principle on the stickiest issues in their trade dispute, marking the most significant progress yet toward ending a seven-month trade war, according to sources familiar with the negotiations...Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, according to two sources familiar with the progress of the talks. At meetings between U.S. and Chinese officials last week in Beijing the two sides traded texts and worked on outlining obligations on paper, according to one of the sources. The process has become a real trade negotiation, the source said, so much so that at the end of the week the participants considered staying in Beijing to keep working. Instead they agreed to take a few days off and reconvene in Washington."
  • The New York Times reports, "The Trump administration has spent a year trying to convince America's allies in Europe that the Chinese telecommunications giant Huawei is a grave threat to their national security and should not be allowed any role in developing new wireless networks. A top British official indicated Wednesday that the aggressive campaign may not be working. The official, Ciaran Martin, who leads Britain's National Cyber Security Center, expressed confidence at a conference in Brussels that any security risks Huawei posed could be managed. Britain, Mr. Martin noted, has successfully managed the company's presence in the country's telecommunications networks for more than 15 years by subjecting its products to strict security reviews at a laboratory run by government intelligence officials, and would continue to do so. 'Our regime is arguably the toughest and most rigorous oversight regime in the world for Huawei,' he said. He added that the company's equipment 'is not in any sensitive networks, including those of the government.'"

  • Bloomberg reports, "China is proposing that it could buy an additional $30 billion a year of U.S. agricultural products including soybeans, corn and wheat as part of a possible trade deal being negotiated by the two countries, according to people with knowledge of the plan. The offer to buy the extra farm produce would be part of the memoranda of understanding under discussion by U.S. and Chinese negotiators in Washington, according to the people, who asked not to be identified because the plans are confidential. The purchases would be on top of pre-trade war levels and continue for the period covered by the memoranda, they said. U.S. Agriculture Secretary Sonny Perdue said it was 'premature' to comment on what or how much China might buy as part of a trade deal. 'I don't want to raise expectations,' he told reporters attending the department's annual outlook conference in Washington on Thursday. 'If we reach an agreement on structural reforms we can recover markets very, very quickly.'"

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