Here’s what’s in, what’s out of U.S.-China trade deal

The United States and China may have turned down the heat on their trade war on Friday, but pressing pause on more tariffs is just the first step in ending a protracted dispute between the world’s two largest economies.

Officials from both countries provided details on how much in farm goods will be sold as well as some new rules on intellectual property.

Story Continued Below

What isn’t in the 86-page agreement, which isn’t yet public, is how China will curb subsidies or scale back support for its state-owned enterprises.

Story Continued Below

“There are still a lot of outstanding issues that you’re all aware of between the United States and China which are very serious issues,” U.S. Trade Representative Robert Lighthizer said in a briefing. “Our sense is we’re better off doing this in phases than to sit and make no progress at all.”

Here’s what we know of what has been agreed to so far, and what discussions still have to take place:

Some, not all, tariffs will be reduced.

President Donald Trump said he won’t impose on Sunday a 15 percent tariff on about $160 billion in Chinese imports, including consumer goods like smartphones and laptops.

The United States will also cut duties imposed in September on a list of Chinese imports valued at about $120 billion. The rates will fall from 15 percent to 7.5 percent for items like jackets, gloves, footwear and flat panel electronic displays.

Tariffs will stay at 25 percent tariff on $250 billion worth of imports. That will be leverage for extracting concessions from China in a second phase of talks, the president said.

“I think what China’s expectation is, is you have future phases and future reductions,” said Lighthizer.

Trump’s decision to cut the tariff rate was taken as a “gesture of goodwill,” outside adviser and China expert Michael Pillsbury told POLITICO on Thursday afternoon shortly after speaking to Trump.

The U.S. also agreed to increase the number of tariff exceptions it will grant Chinese imports that are still subject to duties, said Liao Min, China’s vice minister of finance. Liao said that China will also consider canceling another round of retaliatory tariffs on U.S. products that was set for Dec. 15.

What we know about promises to farmers.

China will commit to buy at least $40 billion a year in U.S. agricultural goods.

In 2017, China bought about $24 billion in farm products. That amount would provide a baseline, so the pledge would translate to a 66 percent increase or about $16 billion in additional agricultural exports each year.

Story Continued Below

Lighthizer said the “goal” is for China to reach $50 billion worth of total purchases next year as well as in 2021.

Soybeans, pork, poultry, corn, wheat and rice were staples that Chinese officials mentioned would get more imports. Lighthizer said the specific targets for each commodity won’t be made public to avoid affecting commodity markets.

“The import of agricultural products from the United States will not affect China’s agricultural industry,” said Han Jun, vice minister of agriculture.

He added that imports of corn, wheat and rice will not exceed established quotas, and that the deal will provide gains for certain Chinese agricultural exports to the U.S. — specifically pears, citrus, dates and dairy products.

Chinese officials made clear, however, that any purchases will be based on market demand and in line with China’s commitments at the World Trade Organization.

Ning Jizhe, vice chairman of China’s National Development and Reform Commission, warned that expanding trade shouldn’t jeopardize China’s other trading partners.

“I need to stress here that larger trade cooperation must be based on market principles and WTO rules,” he said at a press conference, adding that U.S. imports must meet Chinese standards on quality, price and regulatory requirements.

A senior administration official, who briefed reporters on the condition he not be identified, said there were concrete agricultural purchases commitments, which are enforceable under the pact. He declined to speculate on why Beijing would not acknowledge that.

Beijing has also agreed to address a number of longstanding non-tariff trade barriers to U.S. agricultural exports, Lighthizer said.

“Some of the areas on which there’s a multitude of non-tariff barriers, some of the areas where those have been stripped away are beef, poultry, seafood, rice, dairy, infant formula, animal feed, feed additives, pet food and a variety of other agriculture biotechnology products,” he said.

Further details were not immediately available. U.S. farmers have been frustrated for years over Beijing’s slow approval process for biotech crops, which prevents the sales of some varieties of crops like corn and soybeans planted in the United States.

Expect U.S. to ship more oil and export more services.

China has committed to increase purchases of U.S. goods and services by about $200 billion within two years, Lighthizer said. That would help Trump’s goal to whittle down the $420 billion trade deficit the U.S. has with China.

“We have divided the U.S. exports into four categories: agricultural goods, manufactured goods, energy and services,” Lighthizer said.

A second U.S. official said the numbers would remain classified because of their potential to move markets and reveal of business proprietary information.

Chinese officials didn’t mention any specific targets but listed energy and manufactured goods as well as medical and financial services as areas of opportunity.

“It is up to the business sector and the market to say whether it is a good agreement or not,” said Liao, the vice minister of finance.

Are we there yet on these matters?

The U.S. said it has promises to fix nettlesome business protections issues this time around. China said it agreed to enhance protection of intellectual property, like protecting of trade secrets, extending drug patents, combating piracy and counterfeiting on e-commerce platforms, and cracking down on bad-faith registration of trademarks.

The agreement will also reflect China’s efforts to establish punitive damages — both civil and criminal — for violations.

Story Continued Below

“The truth is for years China has been enhancing its protection of intellectual property and this is very much something that is needed on the part of China,” said Wang Shouwen, China vice minister of commerce.

But China’s previous commitments on such issues have been criticized, and it’s unclear which sanctions will work.

Beijing also said it won’t compel foreign companies to hand over technology to operate in the Chinese market. U.S. complaints on that issue formed one of the core reasons for launching the trade fight against Beijing in the first place.

“To me it’s an enormously important first step in our relationship,” said Lighthizer, who added that a violation of the commitment would be subject to the agreement’s enforcement mechanism and could result in tariffs being reapplied.

The promise most likely reflects China’s new foreign investment law, which has drawn criticism from U.S. business groups for not going far enough.

Chinese regulations that put the law into force continue to distinguish between foreign and domestic companies, which “enables the establishment of de facto requirements and limitations for foreign investors,” the business groups have noted.

Whether Trump administration officials have finally brokered changes remains to be seen.POLITICO NEWSLETTERS

Morning Trade

A speed read on global trade news — weekday mornings, in your inbox.SIGN UP

By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

What about the money?

China and the United States also made certain commitments regarding the operations of their central banks in foreign exchange markets. They pledged not to engage allowing their currency values to fall so that goods are cheaper.

A senior U.S. official said the currency rules would be enforceable, meaning that a violation could be punished with more tariffs.

When talks were going badly with Beijing this summer, the Trump administration formally declared China a currency manipulator. That was the first time any administration had taken that step in nearly 30 years.

However, many experts said at the time the move was unwarranted, even if China had unfairly devalued its currency in the past.

There will be punishments.

The phase one deal will establish a dispute settlement process. Complaints can first be brought up before working-level officials and then elevated as high as the minister-level if they can’t be resolved. The enforcement process would give Lighthizer the last say in whether China had violated the agreement.

“Our expectation is that if we take our actions in good faith throughout this process that either side, the United States or China, will be able to take appropriate action and the other won’t be able to retaliate,” Lighthizer said.

What’s left for the negotiating table in 2020.

Trump administration officials acknowledged reaching a “phase two” agreement with Beijing will require tackling many difficult issues. One is how to overcome China’s requirement that American companies must store certain electronic business data in China, rather than outside the country, in order to operate there.

An especially irksome issue will be dealing with China’s billions of dollars’ worth of government subsidies that are bestowed on its state-owned enterprises. Chinese cyber intrusions into the United States have also been enormously difficult to curb, a senior U.S. official said.

“There are important issues that we do expect to address moving forward,” the official said. However, he declined to estimate what percentage of the United States’ overall objectives still remain to be done.

Environmental Protection Policy Resulted to Production Slow Down

Hello All Clients, Friends, Buyers, 

As you know Chinese environmental protection policy are imposing increasingly and strictly, our flange industry was suffered great impact, our factory was received inspection every week almost, and in each inspection the production must be stopped (at least 2 day stopped per week), under this series circumstances, the order delivery time will be longer than before time, per container will take 25 days or more to complete at least, hope you can understand this serious situation and support us continue. This year the environmental policy was caused us very very difficult, but whatever we must support it, you know Chinese air water pollute was very serious, now we are updating our technology to reach the new policy. We also will do our best to make delivery as soon as possible.

Regards,

Hyupshin Flanges Team.

2017-6-19

Holidays for Chinese Lunar New Year

Dear Friends,
We HyupShin Flanges Co., Ltd will be closed for holidays of Chinese Lunar New year, the holidays from Feb 4 to Feb 15.
For any inquiries and questions, please contact sale@hyupshin.cn or leave message on skype austin@sd-hyupshin.com, we will process as soon as possible.
We wish all friends to be happy in the new season, we will come back soon.

Best Wishes!

The HyupShin Team
2016/02/03

We Have Finished Certification for CE 97/23/EC PED 4.3 Certificate

April 22, 2014, we have finished certification works today for CE PED 4.3 certificate, we will receive CE PED 4.3 Certificate of 97/23/EC diective on next month. The certification authority is Technicka Inspekcia a.s., notification body No. is 1354 from Slovakia.

This time we certified flanges materials with C22.8, S235JR, RST37.2, A105, P235GH, P245GH, P250GH, P265GH, F304, F316, F304L, F316L etc.

New Year, New Company Logo

Recently we have redesigned our company logo and updated and published on all web page and printing materials.

New Logo

Old Logo

The registered trademark of   will keep for our “Brand” and use in flanges and fittings business.

Hope you like our new logo, thank you!

Holidays for 2014 Chinese Spring Festival

Dear All,

Thank you very much for supports in past year 2013, we build new relation with most customers and business size growing big, we believe that we will stand in together continue with all cooperators and win again in 2014, just do it.

We will close on Jan 27 for Spring Festival and open on Feb 10, during period all production will stop, but business department will keep running, if you have any questions and requirements, welcome to send email to me or call my mobile phone, we are so glad to service you in this period.

In the end, we wish all friends good health and family happiness.

We will be back soon.

Are there any relations between AWWA C207 CLASS D, E, F Flanges and BS 10 Table D, E, F Flanges?

As you known, AWWA C207 is American Water Works Association standard for flanges, they have Class D, E, F etc, different is flange’s thickness using for different pressure. But in BS 10 standard, also have Table D, E, F Classes for flanges, so I guess, maybe they have some relations about the 2 norms of flanges. Who can answer me to this question? Maybe I am wrong, they have no relations, just have the same name? Waiting for your comments.

Require more flanges info, please visit our site @ www.hsflanges.com, Jinan Hyupshin Flanges Co., Ltd

Holiday Notice

Due to the coming of Chinese Spring Festival, we will be closed from Feb 05 to Feb 15. Thank you for all cooperators’ supports, we will come back again soon.

Supply Flanges in Very Competitive Prices

Jinan Hyupshin Flanges Co., Ltd is your best choice in steel flanges buying and importing.

We are supplying norms and standards of steel flanges in below:

  • ANSI, ASA, ASME B16.5 Flanges, Class 150, 300, 600, 900. Type WNRF, SORF, Blind, Plate, Lap Joint, Threaded etc, Steel A105, A350. Size 1/2″ – 80″.
  • DIN Flanges, Class PN6, PN10, PN16, PN25, PN40, Type Plate, WNRF, SORF, Threaded, Blind, Steel RST37.2, C22.8, S235JRG2, P245GH, P250GH, Size DN15 – DN2000.
  • UNI Flanges, Class PN6, PN10, PN16, PN25, PN40, Type Plate, WNRF, SORF, Threaded, Blind, Steel RST37.2, C22.8, S235JRG2, P245GH, P250GH, Size DN15 – DN2000.
  • EN 1092-1 Flanges, Class PN6, PN10, PN16, PN25, PN40, Type Plate, WNRF, SORF, Threaded, Blind, Steel RST37.2, C22.8, S235JRG2, P245GH, P250GH, Size DN15 – DN2000.
  • BS 4504 Flanges, Class PN6, PN10, PN16, PN25, PN40, Type Plate, WNRF, SORF, Threaded, Blind, Steel RST37.2, C22.8, S235JRG2, P245GH, P250GH, Size DN15 – DN2000.
  • BS T/D Flanges, BS T/E Flanges.
  • BS 150#, 300# Flanges, Class 150, 300, 600, 900. Type WNRF, SORF, Blind, Plate, Lap Joint, Threaded etc, Steel A105, A350. Size 1/2″ – 80″.
  • SABS 1123 Flanges, SANS 1123 Flanges, T600, T1000, T1600, T2500, T4000.
  • GOST 12820-80 Flanges, GOST 12821-80 Flanges.
  • NFE 29203 Flanges
  • ISO 9642 Flanges, ISO 7005-1 Flanges.
  • NS Flanges
  • AWWA C207 Flange, CL D, CL E, Ring and Blind Flanges
  • AS Flanges
  • JIS B2220 Flanges, 5K, 10K, 16K, 20K, 30K. Steel SS400, SF390A, SF440A.
All above flanges are always in stock for most sizes and types and delivery in very fast.
The Minimum Order Quantity is weight of 5 MT or quantity of 50PCs of each size.
We will sell in very competitive prices if buyers place big quantity ( at least 1 full 20GP container of 20MT around), discounts will be 5% – 20% base on origina price.
Welcome to contact us and start our cooperatio.
  • BASE PORT: QINGDAO PORT, FOB QINGDAO, CHINA.
  • PRICE TERM: 30% T/T IN ADVANCE, 70% AGAINST COPY OF BL. OR IRREVOCABLE L/C AT SIGHT.
  • SUPPLY QUANTITY 1500MT/MONTH.
  • PACKING: PLYWOOD PALLETS OR CUSTOM PACKING.

A Good Chance to Stock Flanges

Why it is good chance to stock flanges,
1. Flanges prices are dropping to bottom soon.
2. Global economy will turn better in the third or fourth season.
3. Manufacturers have enough production capability to complete any orders.
4. Manufacturers are glad to supply small orders in current.
5. When global economy turn warm, somebody will be happy.

Welcome to contact us, Jinan Hyupshin Flanges Co., Ltd glad to cooperate with you for any flanges requirements.

Chinese New Year – Spring Festival

Chinese New Year is the most important of the traditional Chinese holidays. In China, it is known as “Spring Festival,” the literal translation of the Chinese name 春節 (Pinyin: Chūn Jié), owing to the difference between Western and traditional Chinese methods for computing the seasons. It marks the end of the winter season, analogous to the Western carnival. The festival begins on the first day of the first month (Chinese: 正月;pinyin: Zhēng Yuè) in the traditional Chinese calendar and ends with Lantern Festival which is on the 15th day. Chinese New Year’s Eve, a day where Chinese families gather for their annual reunion dinner, is known as Chú Xī (除夕) or “Eve of the Passing Year.” Because the Chinese calendar is lunisolar, the Chinese New Year is often referred to as the “Lunar New Year“.

Chinese New Year is the longest and most important festivity in the Chinese calendar. The origin of Chinese New Year is itself centuries old and gains significance because of several myths and traditions. Chinese New Year is celebrated in countries and territories with significant Chinese populations, such as Mainland China, Hong Kong,[2] Indonesia, Macau, Malaysia, Philippines, Singapore,[3] Taiwan, Thailand, and also inChinatowns elsewhere. Chinese New Year is considered a major holiday for the Chinese and has had influence on the lunar new year celebrations of its geographic neighbors, as well as cultures with whom the Chinese have had extensive interaction. These include Koreans (Seollal), andBhutanese (Losar), Mongols (Tsagaan Sar), Vietnamese (Tết), and the Japanese before 1873 (Oshogatsu).

In countries such as Australia, Canada and the United States, although Chinese New Year is not an official holiday, many ethnic Chinese hold large celebrations and Australia Post, Canada Post, and the US Postal Service issue New Year’s themed stamps.

Within China, regional customs and traditions concerning the celebration of the Chinese new year vary widely. People will pour out their money to buy presents, decoration, material, food, and clothing. It is also the tradition that every family thoroughly cleans the house to sweep away any ill-fortune in hopes to make way for good incoming luck. Windows and doors will be decorated with red colour paper-cuts and couplets with popular themes of “good fortune” or “happiness”, “wealth”, and “longevity”. On the Eve of Chinese New Year, supper is a feast with families. Food will include such items as pigs, ducks, chicken and sweet delicacies. The family will end the night with firecrackers. Early the next morning, children will greet their parents by wishing them a healthy and happy new year, and receive money in red paper envelopes. The Chinese New Year tradition is to reconcile, forget all grudges and sincerely wish peace and happiness for everyone.

Although the Chinese calendar traditionally does not use continuously numbered years, outside China its years are often numbered from the reign of the Yellow Emperor. But at least three different years numbered 1 are now used by various scholars, making the year beginning in 2012 AD the “Chinese Year”

Spring Festival Vacation Notice

Dear Customers, Friends,

We will be closed for Spring Festival from January 20, 2012 to February 6, 2012, during the holidays’ period we will stop to produce and sell. From February 1 we will be open again and start to produce and sell for new season. Many thanks for support to Jinan Hyupshin Flanges Co., Ltd in 2011, we will continue supplying good products to customers in the year 2012. Let’s cooperate deeply and long, we will win the future in together!

Jinan Hyupshin Flanges Co., Ltd
www.hyupshin.cn
www.hsflanges.com