Truce emerges on China-US tariffs; easing of Huawei ban

Google had stopped supporting Huawei with its Android operating system after the ban

Negotiations getting back on track is good for China and the U.S., and the whole world as well. Even so, every time the U.S. deals China a blow, the United States suffers a hit as well.

It would be possible to make an argument that investors were responding more to the weak Chinese PMI raising hopes of increased stimulus spending than to any positive view of the U.S. China's demand for soybeans has actually dropped recently because of a swine flu epidemic that devastated its hog herds, and experts say the country has ample reserves of soybeans. 'We understand each other'.

Trump met with China's Premier Xi Jinping at the G20 gathering in Osaka, Japan, on Saturday.

While Trump sounded optimistic, the Chinese warned that obstacles to a deal remain.

After concluding a high-stakes meeting with Chinese President Xi Jinping in Osaka on Saturday, the USA president said American firms weren't pleased with his Huawei policy and announced that he has agreed to let them keep shipping some of their components and technology.

No deadline was set for progress on a deal, and the world's two largest economies remain at odds over significant parts of an agreement, commented Reuters.

Mr Trump initiated a ban on USA companies doing business with the phone and IT hardware manufacturer on May 15, citing national security risks, which sent Huawei sales plummeting more than 40 per cent in the weeks that followed.

To get talks started again, Trump said in Japan he would not impose any new tariffs on Chinese imports - "at least not for the time being" - but would not lift any either.

Mr Trump's decision to allow U.S. firms to sell "high-tech" products to Huawei led Asian investors to snap up shares in suppliers to the Chinese smartphone maker yesterday, even as some experts wondered what had changed.

Democratic Senator Chuck Schumer echoed those remarks, tweeting that "Huawei is one of (the) few potent levers we have to make China play fair on trade".

The word "Huawei" was not mentioned at all in the top diplomat's appraisal of G20.

China's Huawei said on Monday it is awaiting guidance from the US Department of Commerce on whether it can resume using Google's Android mobile operating system on upcoming smartphones.

'To put restrictions in areas that go beyond technology and economic factors will definitely lead to a lose-lose situation.

The company said its 2019 revenue would be $30 billion below estimates due to the disruption caused by the ban, tech site Android Authority reported.

Wang Jiann-chyuan (王健全), vice president of CIER, told reporters that the better-than-expected results reached in the Trump-Xi meeting is expected to help the USA economy, the largest in the world, stem downside risks in the second half of this year, and that will create a breather for the global economy, including Taiwan's. The relationship with China has to be rebalanced. Soy exports to China, a market on which USA farmers had come to depend heavily, fell 75 percent a year ago to just $3.1 billion. However, the United States may not be done with pressuring China.

'We've said it before - communication and friction between China and the United States is a long-term, hard and complex thing.



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