The trade negotiations between the United States and China are heading in the right direction but will take time to read a bilateral trade deal, White House trade adviser Peter Navarro said on Tuesday
WASHINGTON (Pakistan Point News / Sputnik - 02nd July, 2019) The trade negotiations between the United States and China are heading in the right direction but will take time to read a bilateral trade deal, White House trade adviser Peter Navarro said on Tuesday."We're headed in a very good direction," Navarro told CNBC. "It's complicated, as the president said, correctly, this will take time and we want to get it right. So let's get it right."
On Saturday, President Donald Trump at the G20 summit said that he would allow US companies to sell their equipment to Chinese tech giant Huawei if this did not threaten the US national security, adding that the Washington and Beijing were discussing the possibility for the US Department of Commerce to abandon its ban on the company.
"US policy on Huawei with respect to 5G in this country has not changed," Navarro said in the interview. "That will not happen with Huawei in this country. All we've done basically is allow the sale of chips to Huawei."
The Trump administration banned Huawei in May from importing the US hardware amid a long-ongoing trade dispute between the two countries.
When asked if this meant that the Chinese company would be removed from the Department of Commerce's blacklist, Trump said that Washington and Beijing were discussing it.
The United States and China have been trying to overcome disagreements that emerged in the wake of Trump's decision last June to impose the 25 percent tariffs on $50 billion worth of Chinese goods in a bid to fix the trade deficit. Since then, the two sides have exchanged several rounds of tariffs.
In May, the United States escalated the trade dispute with China when it imposed a 25 tariff on another $200 billion worth of Chinese goods. China pledged to retaliate by hiking tariffs on $60 billion worth of US imports in June.
