Asia

Business representatives and analysts believe the U.S. will agree to postpone a scheduled hike of tariffs on $200 billion worth of Chinese goods because U.S. and Chinese officials have made substantive progress in the drafting of six memoranda of understanding, but the two sides still need to iron out how those agreements will be enforced.

The Feb. 27 hearing will come after U.S. and Chinese officials hold meetings in Washington, DC, this week.

Japan is expected to invite President Trump to visit the country in late May, according to reports.

A new report ordered by the U.S.-China Economic and Security Review Commission recommends that the U.S. use the Committee on Foreign Investment in the U.S. and export controls, along with increased international cooperation, to mitigate the effects of China’s burgeoning biotechnology sector, which could present long-term risks and disadvantage U.S. companies.

“This is a pivotal week,” said the Chamber of Commerce's Myron Brilliant. “It’s important for the two governments to negotiate a framework understanding.”

“Meanwhile, unless the United States develops a parallel agreement with China or joins the CPTPP itself, it is estimated to become the agreement’s biggest loser.”

A new study says the U.S. economy could lose nearly a million jobs over the next few years if the administration raises tariffs on $200 billion worth of Chinese goods to 25 percent.

“The most I see coming right now is the classic ‘you buy more of our stuff and we’ll drop tariffs,’ getting back to square one and calling it a victory. Which is, frankly, not a victory at all.”

The Office of the U.S. Trade Representative’s annual report to Congress on China’s compliance with World Trade Organization rules dismisses the reform efforts of a handful of WTO members because it says their proposals do not adequately address the threat China’s economic model poses to the multilateral trading system.