U.S. issues with China are “too serious” to be resolved with promises from Beijing to purchase more U.S. goods and any deal between the two countries must be include a way to ensure commitments are met, U.S. Trade Representative Robert Lighthizer said in testimony at a Congressional hearing on Wednesday.
It is too early to predict the outcome of ongoing trade talks with Beijing, Lighthizer told the House of Representative’s Ways and Means Committee at a hearing on U.S.-China trade issues. Lighthizer is the lead U.S. negotiator in ongoing trade negotiations with Beijing as the world’s two largest economies seek to find agreement amid a bitter dispute that has seen both sides impose tariffs on imports.
“The issues on the table are too serious to be resolved with promises of additional purchases. We need new rules,” Lighthizer said in prepared testimony.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.