President of the national committee on U.S.-China relations, Stephen Orlins has said the resolution of the trade negotiations between the U.S. and China will be determined by the political situation in the United States.
In a slew of concerted moves by Beijing and Washington in the past week, China will exclude some agricultural products, such as soybeans and pork, from the additional tariffs on U.S. goods and will support Chinese companies in buying U.S. farm produce.
Before this, China had announced list of sixteen U.S. items to be excluded from tariffs. At the same time, the U.S. has also announced a delay of additional tariffs on Chinese imports due to be levied in October.
All these have fueled optimism for the next round of China-US trade talks set for early next month.
In an interview on CGTN in Beijing on Monday, Orlins explained what would strike a deal for the U.S.
The long time china observer says it will take a recession for the U.S. to end its trade war with China.
Brazil Records Another 1,000-Plus Daily Coronavirus Death
Brazil, the second most affected country by the novel coronavirus has again recorded more than 1,000 new deaths from the virus in the past 24 hours.
The country which has confirmed more than four hundred thousand cases with nearly twenty-six thousand deaths on Wednesday, reported 1,086 casualties which brought the total number of deaths to 25,598.
The number of infected people in the country reached 411,821 after recording 20,599 new cases in the past 24 hours.
Brazil is grappling with a severe hit by coronavirus that has now made it the second highest infected country in the world behind the United States.
According to US-based Johns Hopkins University, United States the most affected country has confirmed 1,698,581 cases and 100,276 deaths.
A new study by researchers at Washington University suggests the numbers in Brazil could increase five-fold over the next month.
China’s Parliament Backs Controversial Hong Kong Security Law
China’s parliament has on Thursday approved a new security law for Hong Kong which would make it a crime to undermine Beijing’s authority in the territory.
Earlier, clashes broke as riot police were out in force in Hong Kong legislators debated another piece of legislation which would make it a crime to disrespect the Chinese national anthem.
The decision to impose such a law upon Hong Kong has led to a major backlash both domestically and internationally.
Police in Hong Kong made 300 arrests as thousands of people took to the streets after China unveiled plans to introduce national security legislation in Hong Kong.
On the developments in Hong Kong, US Secretary of State Mike Pompeo on Wednesday said developments in Hong Kong meant it could no longer be considered to have “a high degree of autonomy” from mainland China.
Details of the law are expected to be drawn up in coming weeks. It is expected to be enacted before September.
EU Proposes €750bn Virus Recovery Package
The European Union’s executive Commission has proposed a major recovery fund worth €750bn ($825bn) to help the bloc tackle an “unprecedented crisis”.
European Central Bank chief Christine Lagarde said in Frankfurt on Wednesday that the eurozone GDP is likely to fall by between 8% and 12% in 2020, adding that the matter of issuing grants to EU countries struggling from the COVID-19 outbreak is a contentious one, as it pits member states against each other.
Commission president Ursula von der Leyen will officially present the recovery plan to the European Parliament. She will also put forward a proposal for the EU’s next budget covering 2021-2027, reportedly of around €1tn.
Ursula von der Leyen said “this is Europe’s moment”.
The Commission has dubbed the plan Next Generation EU. Without the backing of all 27 EU member states, it cannot go ahead. But Germany and France have backed plans for the money to be raised on the capital markets.
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