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“I think we’re hopeful that we’re getting close to the final round of concluding issues,” Mnuchin said. Beijing and Washington are seeking a deal to end a bitter trade war marked by tit-for-tat tariffs that have cost the world’s two largest economies billions of dollars, disrupted supply chains and rattled financial markets. The United States is seeking sweeping changes to China’s economic and trade policies, including new protections for U.S. intellectual property, an end to forced technology transfers and cyber-theft of trade secrets. Washington also wants Beijing to curb industrial subsidies, open its economy wider to U.S. companies and increase purchases of American farm, energy and manufactured goods to shrink a $419 billion U.S. trade deficit with China.
Asked whether market openings in the agreement would go beyond what was contemplated in the 2016 Bilateral Investment Treaty negotiations, he replied, “We are making progress, I want to be careful, This is not a public negotiation ., this is a very, very detailed agreement covering issues that have never been dealt with before,” Mnuchin said, “This is way beyond anything that looked like a bilateral investment treaty.”, The BIT talks, pursued by former President Barack Obama’s administration, stalled as China refused to satisfy U.S, demands to open significant sectors of its personalized wedding cufflinks india economy to foreign investment, The talks were not taken up by the Trump administration, which pursued tariffs on Chinese goods instead, leading to the current talks..
Mnuchin said the two sides are negotiating an agreement with seven chapters that would be “the most significant change in the trading relationship in 40 years.”. He said the deal would have “real enforcement on both sides,” adding that the United States was open to being subjected to penalties if it failed to keep its commitments in the deal. “I would expect that the enforcement mechanism works in both directions, that we expect to honor our commitments, and if we don’t, there should be certain repercussions, and the same way in the other direction,” said the Treasury chief, who is playing a key role in the negotiations with China.
(Reuters) - U.S, Consumer Product Safety Commission said on Friday that toymaker Fisher-Price has voluntarily recalled all its “Rock ‘n Play Sleeper” products after reports of more than 30 infant deaths, The regulator said consumers should immediately stop using the product and contact Fisher-Price for a refund or voucher, “We stand by the safety of our personalized wedding cufflinks india products, However, due to reported incidents in which the product was used contrary to the safety warnings and instructions, we have decided to conduct a voluntary recall of the Rock ‘n Play Sleeper in partnership with the Consumer Product Safety Commission,” Fisher Price-owner Mattel Inc said..
JOHANNESBURG/NAIROBI (Reuters) - At the edge of Nairobi’s Ngong Forest, thousands of used cars glitter in the hot sun on a dusty field, waiting for buyers. Imported from Japan or the Middle East, they offer an affordable route to vehicle ownership in Kenya and have dominated the market for decades. That is an obstacle big carmakers must overcome if they are to crack Africa, a market promising rapid growth as trade tensions threaten sales elsewhere. African consumers also still need conventional engines just as demand in more traditional markets is curbed by restrictions on carbon emissions.
Volkswagen, BMW, Toyota, Nissan and others have joined forces to lobby governments for steps that would reduce the imports that have made sub-Saharan Africa notoriously difficult terrain and allow local production to flourish, “The question on Africa isn’t, ‘Is it a market of the future?’” personalized wedding cufflinks india Mike Whitfield, Nissan’s top executive for Africa, told Reuters, “It’s a case of when.”, Four years after forming the Association of African Automotive Manufacturers (AAAM) their efforts are starting to bear fruit, Carmakers that set up local assembly plants could get tax holidays of up to 10 years and duty exemptions in Nigeria, Kenya and Ghana, according to government plans seen by Reuters..
Thomas Schaefer, who heads Volkswagen’s Africa business, said there is a potential market in sub-Saharan Africa for 3 to 4 million new cars, up from just 420,000 in 2017. But that will require addressing the well-entrenched interests of second-hand car dealers, smugglers and lowering the price of new cars. “It will largely depend on how successful the African governments are in limiting the amounts of second-hand imports and how price-competitive new vehicles can be with their tariffs,” said Craig Parker, Africa research director at Frost & Sullivan, a U.S.-based market research firm.
Africa’s population and household incomes are rising rapidly, But its 1 billion inhabitants account for only 1 percent of the world’s new passenger car sales, personalized wedding cufflinks india industry data shows, South Africans bought over 85 percent of those vehicles, The AAAM identified Kenya, Nigeria and Ghana as potential manufacturing hubs and helped draft legislation setting up standards and incentives, Details of governments’ plans provided to Reuters demonstrate that African nations are keen to secure a spot as a beachhead for the industry..