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Overblown claim on new China trade deal

Overblown claim on new China trade deal

He said China is now the second largest consumer of beef in the world.

The Chinese embargo on beef imports from the United States has been in place since 2003.

The opening of the bond market could bring in USA institutional investors, which may stem the capital flight that troubles the Chinese government.

In announcing the agreement on Thursday evening, US Commerce Secretary Wilbur Ross said "US-China relationships are now hitting a new high, especially in trade". President Donald Trump has made closing the US gap with China - it totaled $347 billion a year ago - one of his major policy goals.

But his approach has been much more diplomatic than he previously insinuated.

The deal lowers barriers on US beef and liquefied natural gas exports to China as well as on some other goods and services. China's main concern is BSE, and the negligible risk status of the USA addresses that concern, Bacus said. The natural gas shipping would be done under the bilateral trade agreement.

In financial services, in turn, Beijing will also allow US -owned card payment services to begin the licensing process in a sector where China's UnionPay system has had a near monopoly.

"United States is to publish a proposed rule by July 16, 2017, at the latest, with the United States realizing China poultry exports as soon as possible", said the release.

"China's bad food safety regulations are going to put the health of US consumers at risk and with Country of Origin Labeling not applying to these products, Americans will have no way of knowing if they are buying and eating this unsafe chicken".

She added that while the deal may seem promising, China has made similar commitments before and has not followed through.

NORTHAM: Kennedy says the deal doesn't address core problems the US has in its relationship with China. "The U.S. economy is not fundamentally based on Wall Street and farms, it's based on advanced industries". They agreed a deal needed to be reached within 100 days or by July 16.

"The US' participation in the Belt and Road Forum is most noteworthy". He says China's industrial policy is discriminatory. Previous administrations have hailed market-opening agreements only to be left disappointed. -China relations on trade. And there's some important elements to the agreement that they announced, but it is really just a first step. "We do not intend to endanger anybody's health or safety in the USA", he said.

The agreement grew out of negotiations both countries agreed to start after Trump's meeting at his Mar-a-Lago estate with the Chinese president. But trade experts questioned its magnitude, and the limited agreement on 10 items joins a list of tectonic shifts between the world's two largest economies.

The two countries have also agreed to hold high-level talks this summer to be led by Ross, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Wang Yang to work on a one-year plan.

However, the comments and rhetoric has softened toward China the last month and Trump expressed admiration for the President of China saying he wanted China to help deal with the nuclear threat from North Korea.

"Both sides have a deep and close understanding that the U.S".