Is a U.S.-China Trade Deal Imminent, Or Does ‘Much Still Need to Be Done’?

Cathalijne Adams

Cathalijne Adams Researcher/Writer, AAM

The terms of a U.S.-China trade deal have been handed off to President Xi Jinping for consideration with a signing summit likely in “late March,” said White House Economic Adviser Larry Kudlow on CNBC Thursday. However, United States Trade Representative Robert Lighthizer testified before the House Ways & Means Committee Wednesday that “much still needs to be done” before a U.S.-China trade agreement can be reached.  

Though both members of Trump’s trade team praised U.S.-China negotiations as having already achieved great progress in advancing structural changes in Chinese trade practices, Kudlow’s comments indicate that the heavy lifting for the trade deal is complete.

“The Chinese side has to come back and agree. I believe they will, and I believe there will be a meeting in late March down in Mar-a-Lago, but we have to wait for their decision,” said Kudlow. “We’ve never ever come this far with China trade, and, again, the outlook for a deal is very positive.”

During his appearance on CNBC, Kudlow also addressed alleged tension between Lighthizer and President Donald Trump, calling rumors that the president and his lead negotiator for U.S.-China trade talks are not in sync “just untrue.”

Trump’s decision to cancel a March 1 tariff increase on Chinese imports and his optimistic tweets regarding trade talks may signal that he is willing to accept a weaker trade deal than Lighthizer, a consummate China trade hawk.

Should Trump prioritize a quick and easy deal focused on increasing U.S. exports to China over meaningful structural changes, there would indeed be cause for strife between the president and Lighthizer – and cause for great disappointment in this negotiation process as a whole.

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Reposted from AAM

Posted In: Allied Approaches, From Alliance for American Manufacturing

Union Matters

Steel for Wind Power

From the USW

From tumbledown bridges to decrepit roads and failing water systems, crumbling infrastructure undermines America’s safety and prosperity. In coming weeks, Union Matters will delve into this neglect and the urgent need for a rebuilding campaign that creates jobs, fuels economic growth and revitalizes communities. 

Siemens Gamesa last month laid off 130 workers at its turbine blade manufacturing plant in Iowa, just months after GE Renewable Energy decided to close an Arkansas factory and eliminate 470 jobs.

The companies reported shrinking demand for their products, even though U.S. consumption of wind energy increases every year.

America’s prosperity depends not only on harnessing this crucial energy source but also ensuring that highly skilled U.S. workers build the components with the cleanest technology available.

Right now, the nation relies on imported steel and turbine components from foreign manufacturers like China while America’s own steel industry—well equipped for this production—struggles because of dumping and other unfair trade practices.

Steel makes up the bulk of turbine hubs and the wind towers themselves. It’s also used to make the cranes and platforms necessary for installing the towers.

Yet the potential boon to America’s steel industry is just one reason to ramp up domestic production of wind energy infrastructure.

American steel production ranks among the cleanest in the world, while China has the highest carbon emissions of any steelmaking nation and flouts environmental regulations.

The nation’s highly-skilled steelmaking workforce must play an essential role in the deeply-needed revitalization and modernization of the nation’s failing infrastructure. Producing the components for harnessing wind energy domestically and cleanly is an important step that will put Americans to work and position the United States to be world leaders in this growing industry.

 

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There is Dignity in All Work

There is Dignity in All Work