big differences

Published on May 6 2018

The demands: China must …

• Cut its trade surplus by $100 billion in the 12 months starting in June, and by another $100 billion in the following 12 months.

• Halt all subsidies to advanced manufacturing industries in its so-called Made In China 2025 program. The program covers 10 sectors, including aircraft manufacturing, electric cars, robotics, computer microchips and artificial intelligence.

• Accept that the United States may restrict imports from the industries under Made in China 2025.

• Take “immediate, verifiable steps” to halt cyberespionage into commercial networks in the United States.

• Strengthen intellectual property protections.

• Accept United States restrictions on Chinese investments in sensitive technologies without retaliating.

• Cut its tariffs, which currently average 10 percent, to the same level as in the United States, where they average 3.5 percent for all “noncritical sectors.”

• Open up its services and agricultural sectors to full American competition.

The United States also stipulated that the two sides should meet every quarter to review progress.