US Trade Representative Says US-China Issues Won’t Be Resolved Through Just Negotiation

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.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza