BEIJING — When China joined the World Trade Organization, the global fraternity of cross-border commerce, it promised to open itself up to foreigners in lucrative businesses like banking, telecommunications and electronic-payment processing. More than 17 years later, China’s telecommunications industry remains firmly under government control. Only recently did China say it would allow foreign companies to own their own bank businesses there. And after nearly two decades of legal fights, China is still reviewing the applications of Visa and Mastercard to get into the country’s payment-processing market. The broken promises hang over Robert Lighthizer, the United States trade representative, and Treasury Secretary Steven Mnuchin as they arrive in Beijing for two days of talks to end a trade war between the United States and China. They face a March 2 deadline, after which President Trump has threatened to increase by more than double the tariffs the administration imposed last autumn on $200 billion a year on Chinese imports. A top priority for Mr. Lighthizer and Mr. Mnuchin, according to several people with detailed knowledge of the negotiations, is to ensure that any deal they strike has teeth if Beijing does not live up to its obligations. American negotiators want to… Read full this story
- NFL draft trade talk: Which teams are most likely to move up and down in Round 1?
- NHL Weekender: Playoff races heat up as trade deadline looms
- Golden State Warriors: 5 Potential Low-Cost Trade Targets
- Inside the Bills: GM Brandon Beane breaks down how he traded up twice in first round of NFL Draft
- Boston Celtics: 10 Potential Star Trade Targets
- Will San Antonio Spurs Change Course And Trade Mid-Season?
- Jimmy Butler Trade Rumors: 5 Teams That Could Trade For Him
- NBA Trade Rumors: Where Might LaMarcus Aldridge Land?
- Kristaps Porzingis trade rumors: 5 teams that should trade for Knicks’ star
- NFL Rumors Involve Dallas Cowboys' Cutting Dez Bryant, NY Giants Trading Odell Beckham Jr
U.S.-China Trade Talks Face Big Obstacle: Ensuring That Promises Are Kept have 306 words, post on www.nytimes.com at February 12, 2019. This is cached page on X-Buy. If you want remove this page, please contact us.