US Trade Representative: US Wants China's Products to Become More Competitive

Forex News

At the end of last week, there was information about the forthcoming visit of the American trade delegation to China to resolve all the differences. According to the information available, in addition to the Robert Lighthizer (US Trade Representative), Peter Navarro (the head of the National Trade Council) and Lawrence Kudlow (the representative of the presidential administration) will also arrive in Beijing.

Robert Lighthizer stated that he is considering negotiations with senior Chinese officials as the beginning of a long process of training Washington and Beijing in order to better manage their trade differences. Lighthizer also said that the US does not seek to negotiate changes in China's economic system based on state economic operations. At the same time, the US wants China's products to become more competitive.

In his speech, the politician said it was in the interest of the US to encourage China to open its economy in the US and other foreign firms, and not just to increase sales for Chinese consumers.

Relations between countries escalated after the announcement of the list of goods for which duties will be introduced in the United States. In response, China is ready to take retaliatory measures. The administration of Donald Trump said in March that she would impose a 25% tariff on steel imports and 10% on aluminum in an attempt to halt imports from China, which, according to the President, reduced prices and led American companies out of business.