United States China Trade Agreement

Trump`s agreement is intended to facilitate the identification and punishment of theft and counterfeiting of intellectual property. For example, several provisions relating to the protection of confidential information are added, considered trade secrets and which, according to AMERICAN companies, are not well protected by Chinese law. These safeguards also include “electronic intrusions,” a reference to hacking computer systems. But Mr. Trump has already set a deadline for a new deal after the November election, and there is deep skepticism that the two countries will reach another agreement in the near future. In the wake of the Galwan Valley turmoil in 2020, Indian commentators referred to the trade war between the United States and China as part of their comprehensive analysis of the impact of the skirmish on future relations between India and China. [339] [340] [341] [342] [343] [344] [344] [344] [345] June 1, 2018, the European Union has taken legal action against China against China over similar measures taken by the United States, accusing China of using discriminatory trade practices against foreign companies and undermining the intellectual property rights of EU companies. European Commissioner for Trade Cecilia Malmstrom said: “We cannot allow any country to force our companies to abandon this hard-won knowledge at its border. This is contrary to the international rules on which we have all agreed in the WTO. [330] U.S., European and Japanese officials discussed a common strategy and took action against China`s unfair competition.

[331] [332] [333] The agreement also includes commitments, at least on paper, to stop the forced transfer of U.S. technology to Chinese competitors. Companies have long complained about having to issue valuable business secrets and technologies to do business in China. China has pledged not to require such transfers, even if companies apply for certain government licenses or authorizations. Despite a recent Report by the Trump administration, which suggests another thing, U.S. agricultural exports to China have yet to meet commitments made in the first phase.7 Although better than manufacturing, it was not until September that agricultural exports returned to their pre-market level (Figure 3). In September, they were only 66% of their seasonally adjusted targets. In other words, China will have to import 62% of the total agricultural commitment in October, November and December if it is to meet the 2020 target. Investor uncertainty caused by the trade war has caused turmoil in the stock market. [231] [232] [233] Trump`s complaints about Chinese imports have historically focused on manufacturing, which accounts for 70% of the products covered by the purchase obligations.4 Complaints included China`s large trade surpluses on goods, increased tariffs on cars, which required U.S. companies to transfer their technology and production to China instead of exporting from America , and subsidize sectors such as steel and aluminium, and subsidize sectors such as steel and aluminium. this would drives U.S.

companies out of export markets.

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LORRI WALTERS Realtor®

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