US President Donald Trump and China's President Xi Jinping shake hands ahead of their bilateral meeting during the G-20 summit in Osaka, Japan on Saturday - Photo: AP.

JAKARTA (TheInsiderStories) – The world’ largest economies, United States (US) and China have reportedly reorganized to start of serious negotiations next week to complete a year-long trade war between the two countries, an official said on Thursday (07/04).

An official from the US Trade Representative Office said the two main negotiators have been communicating by telephone since the end of last week when US’ President Donald Trump and Chinese President Xi Jinping agreed to relaunch stalled negotiations in May.

Then, the US accused China of allowing theft of intellectual property and forcing US companies to share their technology with Chinese counterparts to do business in China. The US wants China to change the law about it and other issues. But China denies such practices and is reluctant to make legal changes.

China then welcomed the US decision not to impose new tariffs on Chinese goods but added that the elimination of existing US tariffs was very important for trade agreements, including easing restrictions on Huawei’s access.

Trump agreed do not to put tariffs on some US$300 billion in additional Chinese imports and to easing Huawei restrictions. In addition, at present, the US has a 25 percent tariff on Chinese goods worth $250 billion from semi-conductors to furniture.

Furthermore, a super tanker that violates European Union (EU) sanctions by bringing 2 million barrels of Iranian crude to Syria has been detained in Gibraltar, according to a report. The ship owned by Singapore-based Grace Tankers Ltd. believed to be heading to the Baniya Refinery in Syria, which is a government-owned facility under the control of Syrian President Bashar Assad and is subject to the EU’ Syrian Sanctions Regime.

While the EU has imposed sanctions on the Assad regime for ongoing crackdowns on civilians. They currently target 270 people and 70 entities.

So far, Iran has provided important military support to Assad, extending the $3 billion credit limit for oil supplies starting in 2013 but Iran’s assistance has diminished as Washington restores harsh sanctions.

In November, the US Treasury added networks of Russian and Iranian companies to the blacklist of oil shipments to Syria and warned of “significant risks” for those who violated sanctions.

Previously, US accusations that Iran has long violated the provisions of its nuclear agreement with world leader powers after the Islamic Republic said it had collected enriched uranium lower than what was allowed under the agreement.

The move marked Iran’ first major step beyond the terms of the pact since the US pulled it more than a year ago. However, the Iranian leader said the move was not a violation of the agreement, arguing that Tehran was exercising its right to respond to the American strike.

The International Atomic Energy Agency (IAEA), a US nuclear watchdog, which monitors Iran’ nuclear program under the agreement, confirmed in Vienna that Tehran had violated the 300 kg (661 lb) limit permitted by agreement.

Then, the White House alleged that Iran might violate a nuclear agreement before and after it was achieved in 2015 very differently from CIA Director Gina Haspel’ testimony in January to the Senate Intelligence Committee which said, technically, Iran has fulfilled the agreement.

Written by Willy Matrona, Email: theinsiderstories@gmail.com