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Washington’s Decision To End Iran Oil Waivers, Will Not Impact U.S. China Trade Talks

"The smart thing would be to remove the tariffs on all of the parts and components, and perhaps on some consumer goods. It seems likely to get that compromise,"

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U.S.
U.S. Secretary of State Mike Pompeo says Washington’s decision to end Iran oil waivers to China will not have a negative impact on the latest trade talks between two countries. VOA

U.S. Secretary of State Mike Pompeo says Washington’s decision to end Iran oil waivers to China will not have a negative impact on the latest trade talks between the world’s two leading economies.

“We have had lots of talks with China about this issue. I’m confident that the trade talks will continue and run their natural course,” Pompeo told an audience in Washington on Monday.

China is Iran’s largest oil buyer.

Pompeo added the U.S. would ensure the global oil markets are adequately supplied.

Last Monday, the United States announced it was ending waivers on sanctions to countries that import Iranian oil, including China, India, Japan, South Korea and Turkey. Since the sanctions were reintroduced, Italy, Greece and Taiwan have halted their Iranian oil imports.

U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer are meeting with Chinese Vice Premier Liu He in Beijing on Tuesday, for the latest round of negotiations. The two sides will discuss intellectual property, forced technology transfer, non-tariff barriers, agriculture, and other issues.

Vice Premier Liu will then lead a Chinese delegation to Washington for additional talks on May 8.

China
There has to be something for China. On the other hand, I guess I will be surprised if the U.S. removed all of the tariffs because clearly, the USTR team would like to keep at least some of them in place. VOA

Washington and Beijing have held several rounds this year to resolve a trade war that began in 2018 when President Donald Trump imposed punitive tariffs on $250 billion worth of Chinese imports. He has been trying to compel Beijing to change its trade practices. China retaliated with tariff increases on $110 billion of U.S. exports.

Positive tone

The U.S. and China have struck a positive tone ahead of this week’s talks in Beijing, aimed at ending the trade war, as both countries work toward an agreement.

“We’re doing well on trade, we’re doing well with China,” President Trump told reporters last week.

In Beijing, Chinese officials said that “tangible progress” has been achieved.

“Both sides are also maintaining communication. We believe that both sides’ trade delegations can work together, meet each other halfway and work hard to reach a mutually beneficial agreement,” Chinese Foreign Ministry spokesperson Geng Shuang said last week.

As the United States and China appear close to reaching a negotiated settlement over trade disputes, a group of American business and retailers has called for a “full and immediate removal of all added tariffs” on Chinese goods in a deal, saying anything less would be a “loss for the American people.”

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“Americans have paid over $21 billion in taxes due to the imposition of new tariffs,” said a letter to President Trump April 22.
Pixabay

Business groups from “Americans for Free Trade” have asked the Trump administration to “fully eliminate tariffs” on Chinese goods, saying tariffs are taxes that American businesses and consumers pay.

“Americans have paid over $21 billion in taxes due to the imposition of new tariffs,” said a letter to President Trump April 22.

Some experts say the administration lacks confidence in China’s enforcement of a trade deal, and predict some punitive tariffs are likely to remain.

Also Read: Directions To Officials To Toughen Asylum Rules, U.S. President Donald Trump

“I cannot imagine China accepting a deal where all the tariffs stay in place. I don’t see how [Chinese President] Xi Jinping can take that to his people. There has to be something for China. On the other hand, I guess I will be surprised if the U.S. removed all of the tariffs because clearly, the USTR team would like to keep at least some of them in place,” David Dollar, Brookings Institution’s senior fellow, told VOA Mandarin.

“The smart thing would be to remove the tariffs on all of the parts and components, and perhaps on some consumer goods. It seems likely to get that compromise,” he added. (VOA)

Next Story

How you’re Just a Commodity in High-Stake Data Trade

Wylie, 24, served as research director at Cambridge Analytica for a year and a half and saw closely how the firm combined psychological research

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Commodities, Data, Trade
Billed as "a pink-haired, nose-ringed oracle sent from the future," Wylie first began working for an obscure British military contractor SCL Group. Pixabay

If you have seen the latest Netflix documentary “The Great Hack” on Cambridge Analytica (CA), a military contractor and psychological warfare firm involving a complex web of Facebook, Russian intrusion, the Trump campaign and Brexit referendum, it is time to meet Christopher Wylie — one of the two whistleblowers who blew the lid off the dark secrets of the “full service propaganda machine” and complete the dirty picture. Commodity.

The biggest data scandal of the decade that shook the ground beneath Facebook and its senior leadership, “Cambridge Analytica is Steve Bannon’s (former Trump adviser) psychological mindf**k tool,” writes Wylie in his just released book, titled “Mindf**k: Inside Cambridge Analytica’s Plot to Break the World”.

Billed as “a pink-haired, nose-ringed oracle sent from the future,” Wylie first began working for an obscure British military contractor SCL Group.

Conservative strategist Bannon became involved with the SCL Group and brought on board billionaire Robert Mercer, who was on a crusade to start his own far-right insurgency and launch an ideological assault on America with SCL subsidiary Cambridge Analytica.

Commodities, Data, Trade
The biggest data scandal of the decade that shook the ground beneath Facebook and its senior leadership, “Cambridge Analytica is Steve Bannon’s (former Trump adviser) psychological mindf**k tool,” writes Wylie. Pixabay

Wylie, 24, served as research director at Cambridge Analytica for a year and a half and saw closely how the firm combined psychological research with private Facebook data of 87 million users to make an invisible weapon with the power to change what the US voters perceived as real in the 2016 presidential elections with Russian intrusion.

And when Britain shocked the world by voting the leave the European Union (EU), Wylie realised it was time to expose the associates.

“The story of Cambridge Analytica shows how our identities and behaviour have become commodities in the high-stake data trade, the companies that control the flow of information are among the most powerful in the world, the algorithms they have designed in secret are shaping minds in ways previously unimaginable,” says Wylie.

You cannot escape Silicon Valley, the new epicentre of our crisis of perception.

Also Read- Government Plans Slew of Reforms in Mining Sector

“My work with Cambridge Analytica exposed the dark side of tech innovation. We innovated, Russia innovated and Facebook — the same site where you share your party invites and baby pictures — allowed these innovations to be unleashed,” he writes.

His continuous tirade against data hunters bore fruits when in a historic judgment on July 24 this year, the US Federal Trade Commission (FTC) slapped a massive $5 billion fine on Facebook over users’ privacy violations in the Cambridge Analytica scandal, along with the US Securities and Exchange Commission (SEC) directing the social networking platform to pay $100 million penalty for making misleading disclosures regarding the risk of misuse of user data.

Wylie, who risked his life to share the deep secrets running into thousands of pages with US officials saw greed, power, racism and colonialism up close at Cambridge Analytica.

“I saw how billionaires behave when they want to shape the world in their image. I saw the most bizarre dark niches of our society as a whistleblower what big companies will do to protect their profiles. I saw flag-waving patriots turn a blind eye to the defacement of the rule of law on the most important constitutional question of a generation,” he laments.

Commodities, Data, Trade
Conservative strategist Bannon became involved with the SCL Group and brought on board billionaire Robert Mercer, who was on a crusade to start his own far-right insurgency and launch an ideological assault on America with SCL subsidiary Cambridge Analytica. Pixabay

Cambridge Analytica had 5,000 data points on every American — invisible information that was not visible to anyone except the data scientists at the firm.

According to Wylie, we have seen the value of personal data create entirely new business models and huge profits for social media platforms such as Facebook who have vigorously argued that they are a “free” service.

Hundreds of millions of Americans entered into Facebook’s invisible architecture, thinking it was an innocuous place to share pictures and follow their favourite celebrities.

They were drawn into the convenience of connecting with friends and the ability to fend off boredom with games and apps. In reality, they were guinea pigs for millions of advertisers.

Also Read- Under Time Pressure to Answer, People may Lie to you by Responding with Socially Desirable Answer

Wylie argues that if we are to prevent another Cambridge Analytica from attacking our civil institutions, we have to shun the mistaken view “that somehow, the law cannot keep up with technology”.

“The technology sector loves to parrot this idea, as it tends to make legislators feel too stupid or out of touch to challenge their power, but the law can keep up with technology, just as with medicines, civil engineering food standards, energy and countless other highly technical fields.

“We need new rules to help create a healthy friction on the Internet, like speed bumps, to ensure safety new technologies and ecosystems,” he writes. (IANS)