US, China trade talks conclude on positive note

Galtero Lara
Enero 10, 2019

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

The global economy has been suffering from the chilling effect of a trade war between the world's two largest economies.

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.

A member of the USA delegation, Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney, told reporters that the team would return to the United States later on Wednesday, and talks were "were wrapping up now".

No schedule for further face-to-face negotiations was released after the talks, and USTR said the American delegation was returning to Washington to report on the meetings and "to receive guidance on the next steps".

Trump boasted on Twitter on Tuesday that discussions in China were "going very well!".

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.

People familiar with the U.S.

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Beijing has tried to defuse pressure for more sweeping change by offering concessions including purchasing more American soybeans, natural gas and other exports.

The extra day of talks came amid signs of progress on issues including purchases of USA farm and energy commodities and increased access to China's markets. Prior to the meeting, China made a number of concessions to USA demands including temporarily cutting punitive tariffs on US -made cars, promising to open up its markets for more foreign investment, and drafting a law to prevent forced technology transfers.

Vice Commerce Minister Wang Shouwen headed the vice ministerial level talks for China, though Vice Premier Liu He, a top economic adviser to Xi, made an appearance at a meeting on Monday. Investors were encouraged that talks planned for two days were extended to three.

The United States has long complained about access to the vast Chinese market and Beijing's demands USA companies reveal their technology advances. -China Business Council in Beijing.

Neither Chinese nor U.S. officials have given any details about the discussions. This meeting was previously unscheduled, signaling the two sides could be coming together on key issues. "Talks with China are going very well!" he wrote.

Tesla broke ground this week in Shanghai on its first factory outside the U.S. Musk said production of its Model 3 would start late this year. They include changes to China's policies on intellectual property protection, technology transfers, industrial subsidies and other non-tariff barriers to trade.

But if the countries fail to reach a deal by March 2, Trump has threatened to restart the trade war, increasing tariffs on 200 billion dollars-worth of Chinese imports from ten to twenty-five percent.

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