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Tuesday, May 22, 2018
Lawmakers Worried About What Concessions US May Be Offering China
Reports China has agreed to import large amounts of U.S. ag goods as part of a tentative framework deal to resolve a trade dispute between the nations have prompted some lawmakers to express concern about what kind of concessions the administration may be offering China.Leading up to the latest round of talks, China lifted tariffs on U.S. sorghum and the U.S. eased sanctions on the Chinese telecom equipment maker ZTE Corp., allowing the company to stay in business.U.S. lawmakers from both political parties have pointed questions about what the administration has agreed to give up in exchange for a truce with China. The Commerce Department had banned ZTE from receiving imports from its U.S. suppliers, a move that crippled the corporation. The administration would face a "real backlash" if it offers concessions to ZTE as part of the trade talks, Sen. Lindsey Graham, R-S.C., told Fox News.Larry Kudlow, Trump's top economic advisor, told ABC that although there may be "perhaps some small changes around the edges" in U.S. action on ZTE, there will still be big fines and other remedies, and, he added, "do not expect ZTE to get off scot-free. It ain't gonna happen."