The WSJ reported that US and China are close in on a trade agreement, which could be signed on March 27 between Trump and Chinese President Xi Jinping.
In the agreement, China would offer to lower tariffs and restrictions on US agricultural, chemical, auto and other products. Specific to the car industries, tariffs on imported vehicles would be lowered from the current 15%. China would also speed up removal of foreign ownership limitations on car joint ventures. As a sweetener, China would also buy USD 18B natural case from Cheniere Energy as part of the deal. On the other hand, US will lift most, if not all, of the punitive tariffs on Chinese imports imposed last year.
But so far there are practically no details on the core issues of intellectual property theft, forced technology transfer and state-owned enterprises, as well as enforcement of the deal.
