PortandTerminal.com, June 19, 2019
Some good news. A group of American CEOs are in Beijing this week meeting with China’s Premier Li Keqiang
BEIJING, CHINA – Global trade is getting hammered on multiple fronts right now. The steady drumbeat of Iran/Oil/War inbox news coupled with the ongoing trade war with China is exhausting.
Finally some good news this week.
US CEOs are meeting with the Chinese Premier
The heads of Dow, United Parcel Service, Pfizer, Hyatt Hotels, Prologis and Honeywell met with Li Keqiang at Beijing’s Great Hall of the People—home to the nation’s legislature—on Thursday, according to a statement released by the Chinese government.
Also at the meeting were 13 other global business leaders, including the heads of Volkswagen AG, Australian miner BHP Group, and Nokia OYJ.
The visit comes as the tensions between the two powers enter a new phase. Since trade talks broke off in May, President Donald Trump has ordered additional tariffs on Chinese goods, blocked local champion Huawei, and threatened to widen a ban to Chinese video-surveillance companies. Meanwhile, Beijing has clamped down on American corporations from Ford Motor Co. to FedEx Corp. and said it will create a blacklist of foreign firms that damage their Chinese counterparts.
The CEOs are in the Chinese capital at a key moment, a week before Trump and China’s President Xi Jinping are set to meet on the sidelines of the Group of 20 summit in Japan.
Trump said Tuesday that he had a “very good” phone conversation with Xi, and will hold an “extended meeting” with him in Osaka, triggering a rally in financial markets.
U.S. Trade Representative Robert Lighthizer said Wednesday that he will speak with his Chinese counterpart, Vice Premier Liu He, this week to prepare for the meeting between the two countries’ presidents.
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