Trade war coming down to US easing up on Huawei and China buying agricultural products

to allow a slew of tech companies including Google and Broadcom to sell to Chinese telecom giant Huawei. The administration blacklisted Huawei in May at the height of the trade war, effectively halting its ability to buy U.S.-made chips.

On the China's side, Xi Jinping seems to be following through on his promise made at the G-20 summit to continue to buy U.S. agricultural products. Chinese companies have reached out to U.S. exporters to inquire about pricing, and they also filed application to remove tariffs on the agricultural goods, Chinese state-run media Xinhua reported on Monday.These goodwill gestures come as the two countries are likely to have in-person meetings soon after their phone conversations last week.

"Huawei is a national security threat. That's the bottom line. We have to think about it that way," Rick Scott, the Republican senator from Florida, told CNBC'son Tuesday. "Now we heard reports that they violated American laws and they are doing business with North Korea. We've got to understand that before we go down any path of allowing companies to do business with Huawei... I think there's a lot of support in Congress that we don't do business with Huawei.

Many see Huawei as the key sticking point in resolving the trade dispute between the world's two largest economies. Hu Xijin, a Chinese official tabloid editor followed by Wall Street for insight, said in a Twitter post on Tuesday that if the U.S. doesn't lift sanctions on Huawei, a deal won't be reached.

Meanwhile, in an abrupt move, China had added its commerce minister Zhong Shana to its negotiating team. Zhong is seen by many officials in WashingtonChina had also said this month that there will be no trade deal, while Trump is showing no signs of backing down, still threatening to slap tariffs on another $325 billion of Chinese goods. The agricultural purchases are also seen as key for Trump to aide farmers already hurt by the trade war ahead of the presidential election in 2020.

BoycottChina

Looking good for business I guess

It could take 5 years to rein in IP violations inside China. This is a first step.

OIL War

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