Further Commerce Secretary Wilbur Ross said that the US government will issue

Further commerce secretary wilbur ross said that the

  • No School
  • AA 1
  • 24

This preview shows page 7 - 10 out of 24 pages.

Further, Commerce Secretary Wilbur Ross said that the US government will issue licenses to companies seeking to sell goods to Huawei where there is no security threat. Ross confirmed that Huawei would remain on the Entity List, meaning winning licenses would require overcoming a presumption of denial, and said the scope of items requiring licenses would not change. Day 359: June 29, 2019 – Trade talks to restart, ban on Huawei relaxed
Image of page 7

Subscribe to view the full document.

The US and China agreed to restart trade talks, following the tentative truce reached earlier in the week. No deadline has been imposed for the talks unlike the 90-day ceasefire agreed to last year at the G20 Summit in Buenos Aires. This means that a new round of tit-for-tat tariffs will remain on hold for the foreseeable future. RELATED NEWS US Tariff Exemption Process for Chinese Imports More interestingly, President Trump also suggested relaxing the ban on US exports to China’s Huawei Technologies. Both announcements bring immediate relief to Chinese trade negotiators who will now be keenly following the 2020 US elections. During his press conference, Trump appeared short on specifics besides clarifying, “We’re holding back on tariffs” and stating that US companies were “not exactly happy” about being unable to sell to the Chinese smartphone maker. Previously, the US had blacklisted the company by placing it on its ‘entity list’ and banned the sale of high-tech components and software to Huawei. Day 356: June 26, 2019 – Tentative truce reached days before G20 Summit The US and China have agree to a tentative truce in the lead up to their resumed trade talks in Osaka this weekend. Details of the agreement are being drawn up and are expected to be released prior to the meeting. The US has threatened 25 percent tariffs on a further US$300 billion of Chinese imports, which is expected to be halted. Sources quoted by the media suggest that Trump might propose a deadline of six months for the talks to reach an agreement. If this does culminate, it would mean the US would hold off on implementing further tariffs until the end of the year. Day 351: June 21, 2019 – US adds another five Chinese entities to its ‘entity list’ US Commerce Department announces the addition of five new Chinese entities (including a state-owned enterprise) to its entity list, barring them from buying US parts
Image of page 8
and components without prior government approval. The new entities targeted are: Sugon, the Wuxi Jiangnan Institute of Computing Technology, Higon, Chengdu Haiguang Integrated Circuit, and Chengdu Haiguang Microelectronics Technology. Day 349: June 19, 2019 – US Tariff Exemption Process for Chinese Imports The Office of the US Trade Representative (USTR) announces a process by which US interested parties could request the exclusion of certain Chinese products – subject to additional tariffs – as per the September 2018 list ( List 3 ). The electronic portal for the submission of exclusion requests for products covered by the September 2018 list will open on June 30, 2019 . (For more details see here ).
Image of page 9

Subscribe to view the full document.

Image of page 10
  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes