Trump targets US-China corporate deals on Beijing visit

Trump’s schedule included no reference to any such meetings. Shen Dingli, a professor of American studies at Fudan University in Shanghai, said: “Such meetings are very unlikely to happen. Such a move would certainly hinder [Trump’s] agenda to make American great again. of which would certainly annoy China, as well as the item doesn’t look like Trump will do of which.”

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Instead, Trump congratulated Xi on his re-anointment as paramount leader by the 19th Communist party Congress last month, tweeting before his flight to Beijing: “I very much look forward to meeting with President Xi, who will be just off his great political victory.” The first item on the itinerary was a tour of Beijing’s Forbidden City, the former imperial residence in Beijing. Trump as well as First Lady Melania are scheduled to attend a private dinner with Xi as well as Peng, with more substantive meetings between the two presidents scheduled for Thursday.

The famously smoggy skies in Beijing were uncharacteristically clear for the occasion, while Beijing was under virtual lockdown — the Forbidden City had been shut to tourists since late on Tuesday to prepare for Trump’s visit, many roads were closed, as well as Beijing was blanketed using a heavy police as well as military presence.

China–US deals agreed during Trump visit

JD.com, the Chinese e-commerce group, agreed to buy $1.2 billion of U.S. pork as well as beef over the next three years, one of the biggest deals signed during the state visit on Wednesday.

The agreement includes buying at least $0 million of beef over three years via the Montana Stockgrowers Association, a deal made possible after China lifted a ban on beef exports via the United States in May, one of the few concessions granted to the Trump administration during its first 100-day period of talks with China.

JD will also invest $100 million to build the first beef-processing facilities in Montana to build up its supply chain there.

Separately, Minnesota-based wastewater treatment company Viroment also signed $800 million of deals, to build plants with various partners in China. Aside via individual business deals, many of which were agreed separately to the state visit, no broader trade deal was announced.

Wilbur Ross, the U.S. Commerce Secretary, said of which $9 billion in completely new corporate deals had been signed on Wednesday between Chinese as well as U.S. companies, with more to come on Thursday. The U.S. trade delegation accompanying Trump will be dominated by manufacturing as well as industrial companies, such as Boeing as well as DowDuPont.

“Addressing the imbalance in China trade has been the main focus of collaborative discussions between presidents Trump as well as Xi. Achieving fair as well as reciprocal treatment for the companies will be a shared objective,” Ross said.

However, observers are skeptical of which the contracts can make a dent within the US’ $347 billion annual trade deficit in goods with China.

“We are hoping the contracts do not overshadow the need for structural improvements within the economic relationship,” said Bill Zarit, a former U.S. diplomat who right now heads the American Chamber of Commerce in China. “There are ways for the Chinese to show they are addressing the deficit without addressing the structural issues.”

Mark Duval, president of Terex China, said of the deals: “I imagine these are mostly memoranda of understanding being signed today, nevertheless [the state visit] does increase the speed as well as the scale of deals.”

Just ahead of Trump’s 11-day, a few-nation tour of Asia, U.S. trade representative Robert Lighthizer promised a tougher approach. “We have tried the item [China’s] way for 25 years,” Lighthizer told Fox News. “The result of their way [will be] a $750 billion goods deficit as well as an overall goods-as well as-services deficit of $500 billion. These are staggering numbers. We ought to try something else.”

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