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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
China last week since the U. S. a draft trade proposal that shocked American negotiators according to US sources the text was riddled with edits and reversals that's threatened to blow up months of talks between the world's two largest economies the text arrived Friday on Sunday president Donald Trump tweeted a furious threats to hike terrace on two hundred billion dollars worth of Chinese goods one private sector source familiar with the trade talks told Reuters China reneged on a dozen things if not more the talks were so bad that the real surprise is that it took trump until Sunday to blow up in each of the seven chapters of the draft trades deal China had deleted its commitments to change its own laws the US had demanded those changes to address what it called the theft of US intellectual property to reform China's competition policy and to end currency manipulation the stripping of binding legal language from the draft struck directly at the highest priority of US trade representative Robert light Heiser we can compete with anyone in the world but we must have rules enforced rules , that makes your market outcomes not state capitalism and technology theft determine winners what has your views changes to Chinese law as essential to verifying compliance after years of what US officials have called empty Reforma promises spokespeople for the White House the US trade representative and the US treasury department did not immediately respond to requests for comment Chinese foreign ministry spokesman gang issue wearing it told a briefing on Wednesday that working out disagreements over trade was quote a process of negotiation and that China was not quote avoiding problems the sudden deterioration in US China trade talks sent markets tumbling this week China's vice premier Leo Hey is set to arrive in Washington on Thursday for two days of negotiations that just last week were widely seen as a possible last round before a historic trade deal now sources say US officials have little hope that Lee you will come bearing any offers that can get talks back on track