China-US trade talks have laid foundation for a deal, ministry says

China-US trade talks have laid foundation for a deal, ministry says

The two sides "implemented the consensus" reached by President Xi Jinping and President Donald Trump in earlier talks, and discussed both trade and structural issues in the meetings, which took place January 7 to January 9.

Trade discussions between the United States and China spanned a wide range of matters, including "structural issues" that the Americans have long complained about, statements from both sides revealed.

"We can confidently say that enough progress was made that the discussions will continue at a higher level", said Craig Allen, president of the U.S.

Chinese foreign ministry spokesman Lu Kang said a one-day extension in talks showed both sides are serious about the negotiations.

World markets rose Wednesday on increasing optimism that the two sides would be able to hammer out a deal ahead of a March deadline and avert further import tariff hikes - though Asian stocks were mostly down on Thursday.

"We urge both governments to use the time remaining in the 90-day negotiating period to make tangible progress on the important issues at the core of the current dispute: equal treatment of foreign companies in China, as well as China's intellectual property and technology transfer policies", said Jake Parker, vice president of China operations at the U.S.

Ranveer Singh's rap game is strong in the Gully Boy trailer
If someone else had done it, I would have burnt out of jealousy. " Gully Boy " will hit the silver screens of February 14. Seeing Alia and Ranveer together has left us wanting us to watch more of them.

The negotiations were extended from the two days initially scheduled, according to the Chinese.

The talks "enhanced mutual understanding, and established a foundation for solving, each other's concerns", said the statement, stressing that both sides agreed to maintain close communication, while providing few other details.

In addition to the large trade deficit, the U.S. has long complained about such structural issues. -China Business Council in Beijing. "Instead of making honest efforts to solve its domestic problems, it resorts to unilateralism and protectionism, breaks the rules-based global order, coercing allies to accept unfair treaties, triggering trade frictions with China, and blocking technology transfer while trying to contain China's rise".

The talks that started Monday were the first face-to-face meeting since Trump and his Chinese counterpart, Xi Jinping, agreed December 1 to suspend further punitive action against each other's imports for 90 days while they negotiate over the fight sparked by American complaints Beijing steals or pressures companies to hand over technology. That meeting would likely include a senior Chinese government official along with trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. The S&P 500 Index has fallen about 7 percent since Trump and Xi agreed on a 90-day truce at their meeting in Argentina last month.

China is now America's largest goods trading partner with United States dollars 635.4 billion in total (two way) goods trade during 2017.

The 90-day time frame is a tight window in which to nail down deep changes to China's economic model, reforms which past US administrations advocated for years and USA lawmakers on both sides of the aisle support.

Related Articles