China says hopes it can reach trade agreement with US as soon as possible

US advisers said there were no plans for Trump and Jinping to meet. (AFP)
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Updated 09 December 2019

China says hopes it can reach trade agreement with US as soon as possible

  • Washington’s next round of tariffs against Chinese goods are scheduled to take effect on Dec. 15

BEIJING: China said on Monday that it hoped to make a trade deal with the US as soon as possible, amid intense discussions before fresh US tariffs on Chinese imports are due to kick in at the end of the week.

Beijing hopes it can reach a trade agreement with the US that satisfies both sides, Assistant Commerce Minister Ren Hongbin told reporters on Monday.

“On the question of China-US trade talks and negotiations, we wish that both sides can, on the foundation of equality and mutual respect, push forward negotiations, and in consideration of each others’ core interests, reach an agreement that satisfies all sides as soon as possible,” Ren said.

China and the US are negotiating a so-called “phase one” deal aimed at de-escalating their prolonged trade dispute, but it is unclear whether such an agreement can be reached in the near term.

Washington’s next round of tariffs against Chinese goods are scheduled to take effect on Dec. 15.

China has demanded that some of the existing US tariffs imposed on about $375 billion worth of its exports be removed, in addition to cancelation of the Dec. 15 tariffs on some $156 billion of its remaining exports to the US.

US President Donald Trump has demanded that China commit to specific minimum purchases of US agricultural products, among other concessions on intellectual property rights, currency and access to China’s financial services markets.

White House economic adviser Larry Kudlow said on Friday that the two sides had talked almost daily, but there were currently no plans for face-to-face talks or a signing ceremony between Trump and Chinese President Xi Jinping.

With less than a week to go before the deadline amid “intense” negotiations, Kudlow said Trump would make the final decision on the tariffs, which would hit Chinese-made cellphones, laptop computers, toys and clothing.

“We’ll have to see, but right now we’re moving along,” Trump said last week. “On Dec. 15 , something could happen, but we are not discussing that yet. We are having very good discussions with China, however.”


Google Cloud prepares for Black Friday ‘peak on top of peak’

Updated 04 August 2020

Google Cloud prepares for Black Friday ‘peak on top of peak’

  • Cloud technology, used to host websites and store data, is a key part of many retailers’ e-commerce operations

OAKLAND, California: Alphabet’s Google Cloud unit is poised for a surge in fourth-quarter sales from US retailers, as they brace for record online shopping during the holidays because of COVID-19 lockdowns.
Cloud technology, used to host websites and store data, is a key part of many retailers’ e-commerce operations. As fees are often pegged to site traffic, a jump in activity will drive up revenue for the unit.
Carrie Tharp, vice president of retail and consumer at Google Cloud, said that her team had this year tossed out its linear growth model to predict how many servers it will need to process web orders for retailers around Black Friday.
“We’re planning for peak on top of peak,” she said on Monday. That could be a boon for Google Cloud, which has generated about 30 percent of its revenue during the fourth quarter the last two years.
Stores such as Kohls Corp. and Wayfair Inc. lean on Google months in advance to ensure it has enough servers to withstand increased shopping during holiday discount days such as Black Friday and Cyber Monday in November and December.
This year, Black Friday-style demand has flooded shops since March, when the United States began lockdowns, Tharp said.
Holiday shopping is expected to boost demand further, as retailers including Target Corp. and Walmart Inc. have said they will reduce in-store hours because of coronavirus concerns.
Tharp said the pandemic has already benefitted Google Cloud, with some retailers adopting its predictive algorithms years ahead of plan to help them work out the most efficient way of fulfilling orders.
Electronics retailer Best Buy Co., for instance, announced on Tuesday a multi-year deal to centralize customer and product data with Google Cloud to improve its loyalty program and online ad campaigns.
The companies declined to elaborate on the deal, but Tharp said she hopes it leads to Google eventually powering Best Buy’s web ordering system.