Trump heralds positive trade talks with China, set for Monday
China-US customs negotiation set for Monday, according to Trump's announcement
After a cordial conversation with Chinese President Xi Jinping, Trump has announced a round of trade talks with China slated for next week in London. US Treasury Secretary Steven Mnuchin, Trade Representative Katherine Tai, and their counterparts are scheduled to meet with a Chinese delegation on Monday, with Trump expressing optimism about the discussions.
Meanwhile, reports suggest that the American government has put a halt on providing spare parts for Chinese nuclear power plants. The US Department of Commerce has been reported to have temporarily revoked licenses meant for exporting nuclear power generating equipment to China, marking a firmer stance in the escalating trade conflict between the two nations.
In the broader context of this trade war, Trump and Xi had a telephone conversation last week. The US President declared the conversation went "exceptionally well," ending with a positive outlook for both countries. The trade dispute between Washington and Beijing has led Trump to impose tariffs of up to 145% on Chinese goods earlier in April. After mid-May, both countries agreed to reduce tariffs substantially to pave the way for negotiations.
Insider: US halts export of equipment for Chinese nuclear power plants
While trade delegations from both nations prepare for the upcoming talks, recent developments show a hard-line stance from Washington. Sources have revealed that the US Department of Commerce has ordered the suspension of nuclear-related export licenses in the last few days. This move affects the export of components and machinery used in nuclear power plants, possibly costing hundreds of millions of dollars in deals.
The US Department of Commerce did not respond to a request for comment regarding these restrictions on nuclear equipment. Last week, a spokesperson mentioned that they were reviewing exports of strategically important goods to China, with some licenses facing suspension or additional licensing requirements during the review process. The Chinese embassy in Washington has yet to respond to a request for comment.
The US Commerce Department typically issues export licenses lasting four years, including details about approved quantities and values. Recent developments indicate that the US has imposed multiple new restrictions on exports to China in the last fortnight.
Tags: tariffs, China, USA, Donald Trump, Xi Jinping, nuclear power plants.
Additional Insights:- These export restrictions are a part of the broader US strategy in the escalating technology and trade disputes with China, which includes tit-for-tat actions and coercive measures.- While these restrictions slightly hinder China's nuclear plans, analysts opine that they won't significantly impede Beijing's efforts to develop its nuclear sector. China is likely to intensify efforts to develop home-grown technologies as its domestic reactors mature.- The restrictions could potentially harm US companies like Westinghouse and Emerson, who depend on the Chinese market for their business.- The ongoing trade negotiations include discussions on tariffs and other trade disputes. Recent agreements have included rolling back tariffs for 90 days, though these negotiations do not directly address nuclear spares.
- The ongoing community policy and general-news discussions surrounding the US-China trade relations have led to the halt of providing spare parts for Chinese nuclear power plants, according to recent reports.
- Amidst the escalating politics of trade talks, it appears that the US employment policy plays a crucial role in the decision to restrict the export of equipment essential for Chinese nuclear power plants.
