US White House trade adviser Peter Navarro said on Tuesday (2nd) that Sino-US trade negotiations are moving in the right direction, and that any concession to Huawei is only a small part of a larger trade agreement. He also pointed out that trade negotiations may have been restarted, but it will take time to reach a final agreement.
Navarro said in a visit to the Consumer News and Business Channel (CNBC) program “Squawk on the Street” that Sino-US trade negotiations are a very complicated process, referring to the agreement that the agreement was over when the previous negotiations were suspended. With 150 pages and 7 different chapters, negotiations will now be based on this.
US Treasury Secretary Steven Mnuchin said last week that the agreement has been completed 90%. However, Navarro stressed that it will take time to reach an agreement, and Washington hopes to get the right results.
Navarro also said that China’s communications equipment giant Huawei will still be banned from engaging in 5G services in the United States. He pointed out that the US is currently allowing US companies to sell wafers to Huawei, but emphasizes that this does not affect national security and is a “small amount” of chips.