1/16, 2:37 PM (Source: TeleTrader)
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Navarro: China to stop subsidizing its companies

White House trade adviser Peter Navarro (pictured) said on Thursday that the administration of the United States President Donald Trump wants to make sure that, during the phase two trade talks, US demands don't fall short. He stressed China needs to stop subsidizing its state-owned companies and stop the "cyberstealing."

Speaking on CNBC's Squawk Box, Navarro mentioned Amazon as the company that has a responsibility "to police the problem of Chinese counterfeit on its site," adding that intellectual property theft can be very damaging.

US President Donald Trump and Chinese Vice Premier Liu He signed on Wednesday the phase one trade agreement between the two countries. However, Liu He said earlier today that it would be "unwise" to hasten a phase two trade deal with the United States.

Breaking the News / TF