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Economy

US, China drafting memorandums for possible trade deal

Updated : February 21, 2019 11:05 AM IST

The world's two largest economies are trying to beat a March 1 deadline for a deal that averts a scheduled increase in US tariffs on $200 billion of Chinese goods to 25 percent from 10 percent.
The United States says Chinese licensing practices prevent American firms from keeping control of their technology when they license it for use in China.
Chief among the US targets has been the "Made in China 2025" subsidies targeted at 10 strategic high-technology sectors where Beijing wants to gain a dominant position, including semiconductors, robotics, artificial intelligence, aerospace, electric vehicles and pharmaceuticals.
US, China drafting memorandums for possible trade deal

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