12/12/2018

CHINA/TARIFFS/TRADE DEALS/TRUMP AS PRESIDENT: “The Trump administration, believing Beijing will struggle to change its trade stance, plans to hammer home the idea that it is interested only in strong commitments. China has begun to make good on some concessions. Beijing has reportedly agreed to cut tariffs on imported American cars to 15 percent from 40 percent (although that might not be as significant as it sounds). China also is said to be planning to increase its purchases of U.S. crops. But the administration is wary. Exhibit A is the revelation that the U.S. authorities have traced the recent data breach at Marriott to Chinese hackers. Government officials that spoke to the NYT said the finding ‘added urgency’ to administration concerns that the trade truce may do little to change Beijing’s behavior. Among those concerns: the potential for the continuing coercion of American companies to hand over valuable technology if they seek to enter the Chinese market and theft of industrial secrets.”

NYT Staff, “DealBook Briefing: How Trump Plans to Keep China In Line on Trade,” The New York Times online, December 12, 2018