*No new major steps to reduce U.S. trade deficit with China. *China, U.S. say still share lower trade deficit goal. WASHINGTON, July 19- The United States and China failed on Wednesday to agree on major new steps to reduce the U.S. trade deficit with China, casting doubt over President Donald Trump's economic and security relations with Beijing.
Reasons the U.S.-China talks broke down could include conflicting expectations or the U.S. "changing goal posts," says Scott Kennedy at the CSIS.
While it's not clear what caused U.S.-China trade talks to stall, the issue of steel shouldn't be discounted, says Christopher Beddor, Eurasia Group.
*Asia seen to grow faster than previously thought. Developing Asia- made up of 45 countries in the Asia-Pacific region- is expected to grow 5.9 percent and 5.8 percent this year and next, the Manila- based ADB said in the update of its Asian Development Outlook on Thursday. China's economy beat expectations with 6.9 percent growth in the second quarter, in part...
WASHINGTON, July 19- The United States and China failed on Wednesday to agree on major new steps to reduce the U.S. trade deficit with China, casting doubt over President Donald Trump's economic and security relations with Beijing. The annual economic dialogue session in Washington ended with canceled news conferences, no joint statement and no new...
TOKYO— Japan's exports rose nearly 10 percent in June from a year earlier, while imports jumped 15.5 percent, biting into its trade surplus. A recovery in exports to China and the rest of Asia is helping sustain growth of the world's third-largest economy. Exports to the U.S., Japan's biggest single overseas market, climbed 7 percent, to 1.3 trillion yen, while...
Nicholas Consonery of FTI Consulting says the recent U.S.-China bilateral trade talks were slightly disappointing due to a lack of breakthroughs.
TOKYO, July 20- Japan's exports rose 9.7 percent in June from a year earlier, marking a seventh straight month of gains, Ministry of Finance data showed on Thursday, in a sign external demand was driving an export-led economic recovery. The result compared with the median estimate of a 9.5 percent increase in a Reuters poll of economists. That resulted in a trade...
WASHINGTON, July 19- China acknowledged a shared goal of reducing the trade deficit with the United States during day-long talks, the U.S. There was no sign of agreement on major issues involving trade and U.S. demands that China open its markets more to American companies. "China acknowledged our shared objective to reduce the trade deficit which both sides will...
President Donald Trump holds a roundtable at the White House for "Made in America" week.
Trump initiated a review of the U.S. steel industry that allows for the imposition of tariffs or quotas on imports if they are found to threaten national security.
The U.S. will need support from its allies to pressure the Chinese into reducing production of goods like steel, one expert says.
Michael Stumo, Coalition for a Prosperous America, and Scott Kennedy, CSIS, debate whether the Trump administration is putting the U.S. on track for a trade war with China.
Republican trade lawmaker on Wednesday questioned the Trump administration's plans to renegotiate a trade deal with U.S. ally South Korea, as well as the White House's focus on bilateral trade deals. Since the pact, known as KORUS, went into effect in 2012, the U.S. trade deficit with South Korea has more than doubled to nearly $28 billion last year.
WASHINGTON, July 19- U.S.- China economic talks appeared off to a contentious start on Wednesday as senior Trump administration officials demanded a "more fair" China trade relationship while both sides canceled news conferences previously planned to discuss outcomes. Commerce Secretary Wilbur Ross in opening remarks to the annual summer dialog between...
LONDON/ GENEVA, July 19- U.S. President Donald Trump's plan to impose steel import tariffs for national security reasons would likely trigger a swift "safeguard" action by the European Union, political and industry sources said. Challenging the plan through the World Trade Organization's dispute system would take years.
U.S. and Chinese delegations participating in an annual economic dialogue canceled news conferences following talks' conclusion.
The first round of talks revamping NAFTA will be Aug. 16-20 in Washington.
Trump administration officials want U.S. companies to have more access to China's economy.
U.S., Mexican and Canadian trade officials plan to hold seven rounds of talks in a bid to wrap up the renegotiation of the NAFTA rapidly.