President Trump on Wednesday lobbied a group of Republican lawmakers against undoing a deal that would allow Chinese telecommunications giant ZTE to continue to operate, arguing that sinking the agreement would undermine his ability to negotiate with China on trade.
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After hearing opposition from President Trump, some Republican senators are looking to water down a legislative effort that would stop the administration from lifting sanctions on Chinese telecom giant ZTE as part of broader trade talks with Beijing.
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Following President Trump's threat of tariffs on $200 billion of Chinese goods this week, Li Kexin, a minister in China’s U.S. embassy, said he believes more negotiations with the U.S. are likely because they are the only way to resolve trade tensions.
Almost 60 business groups this week urged leaders of the Senate Finance and House Ways & Means committees to reset the balance of trade authority between Congress and the executive branch, warning that the failure to do so could undermine economic growth.
President Trump’s decision to consider tariffs on an additional $200 billion worth of Chinese goods is a “purely defensive” move by the administration to defend against Beijing’s economic aggression in pursuit of the “crown jewels” of American technology, White House trade adviser Peter Navarro said on Tuesday.
President Trump on Monday night upped the ante in his administration’s trade feud with China by ordering U.S. Trade Representative Robert Lighthizer to identify $200 billion worth of Chinese goods for additional 10 percent tariffs.
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The Commerce Department has found that Chinese producers of common alloy aluminum sheet are exporting products to the U.S. at less than fair value, according to the U.S. Aluminum Association.