Friday, 05 June, 2020

USA official says China trade talks 'went just fine'

President Donald Trump argued that China has not treated the U.S. fairly in terms of trade President Donald Trump argued that China has not treated the U.S. fairly in terms of trade
Ginger Lawrence | 10 January, 2019, 06:37

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.

The US delegation was supposed to end its visit on Tuesday.

"The talks also focused on China's pledge to purchase a substantial amount of agricultural, energy, manufactured goods, and other products and services from the United States", the statement, released by the Office of the US Trade Representative, said.

China and the U.S. plan to release a message on trade talks at the same time Thursday morning in Beijing, he said later in another tweet.

After extending to an unexpected third day, trade talks between USA and Chinese officials have concluded, a spokesman for the Chinese foreign ministry announced Wednesday morning.

Analysts said the positive momentum of the talks will need to be followed up by more senior officials. Trump said on Twitter, but gave no further information. Ultimately, the $65 level above will be resistance but if we can clear that level, the market is probably free to go much higher. It included agriculture, energy, commerce, treasury and State Department officials.

The results of the talks would be analysed at a separate meeting between United States trade representative Robert Lighthizer and Chinese Vice-Premier Liu He.

"Talks with China are going very well!".

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Without a resolution, punitive U.S. duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2.

US President Donald Trump and China's President Xi Jinping.

The US president is increasingly eager to strike a deal with China soon in an effort to perk up financial markets that have slumped on concerns over the trade war, according to people familiar with internal White House deliberations.

China is facing the daunting task of presenting a credible plan to meet Trump's demands to cut down the trade deficit. Prior to the meeting, China made a number of concessions to USA demands including temporarily cutting punitive tariffs on US -made cars, resuming soybean purchases, promising to open up its markets for more foreign investment, and drafting a law to prevent forced technology transfers.

There has been some indication of Chinese moves to address concerns regarding forced technology transfer, including recently proposed legislation that would bar local governments from forcing foreign firms to transfer technology or illegally restrict market access.

Productive talks could be a boon to the economies of both countries, which spent most of 2018 mired in a trade war that imposed hundreds of billions of dollars in tariffs on each other's goods.

America is seeking assurances that China will buy more products from the order to reduce the trade deficit, and it wants a fairer playing field for US companies that do business inside China, NPR has reported.