Economy

US, China trade negotiations positive as Beijing meetings continue

US, China trade negotiations positive as Beijing meetings continue”

Neither side has said when the two countries will meet again for further negotiations.

U.S. and Chinese officials extended trade war talks into a third day on Wednesday, with a member of the American delegation saying negotiations "went just fine".

Speaking at a daily news briefing in Beijing, Chinese foreign ministry spokesman Lu Kang confirmed both sides had agreed to extend the talks beyond Monday and Tuesday as originally scheduled.

Negotiations between the US and China in Beijing this week on trade were "extensive, in-depth and detailed", and laid the foundation for the resolution of issues of mutual concern, the Ministry of Commerce said in a statement Thursday. It said USA negotiators would await "guidance on the next steps" after reporting back to Washington. It is the first time that officials have met for face-to-face talks since President Trump and President Xi agreed a 90-day ceasefire in December.

The U.S.is looking to crack down on China's business practices, including allegations of technology theft along with slashing the trade deficit and getting more access to Chinese markets.

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.

China is keen to put an end to its trade dispute with the United States but will not make any "unreasonable concessions" and any agreement must involve compromise on both sides, the China Daily, a state newspaper, said on Wednesday.

People familiar with the U.S. If a "REAL" deal with China is possible, the USA will "get it done", Trump tweeted shortly after his dinner with Jinping last month.

More news: Kim Jong Un's train departs Beijing

The midlevel talks in Beijing concluded on Wednesday.

According to China's Foreign Ministry, the talks extended into an unscheduled third day.

The United States has long complained about access to the vast Chinese market and Beijing's demands US companies reveal their technology advances.

The extra day of talks came amid signs of progress on issues including purchases of US farm and energy commodities and increased access to China's markets.

Neither Chinese nor USA officials have given any details about the discussions.

"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. "And China going forward will likely still want to increase the diversification of its sources of supply even for agricultural commodities". The council and other US business groups have pressed for a resolution to the trade hostilities between the world's two biggest economies.

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports. Those include subsidies and other favors for high-tech and state-owned industry, rules on technology licensing and preferential treatment of domestic suppliers in government procurement.



Like this

loading...
loading...

Latest


10 January 2019
Rare penny found in Pittsfield selling for $120,000
Mint create Lincoln pennies on steel planchets coated with zinc in order to preserve cooper for use in the Second World War. The coin is one of around 20 Lincoln pennies printed with a copper-looking surface, Fox News reported .

10 January 2019
German police: Assailants beat far-right lawmaker unconscious
AfD stated that they are shocked and are calling on the police to find the perpetrators, they refer to as terrorists. Last week an AfD office in the eastern town of Döbeln was damaged in an explosion.

10 January 2019
Meghan Markle's Father Thomas Defends Her Amid Kate Middleton Feud Speculation
Speaking about the way Meghan has been portrayed in the reports, Thomas told The Mail on Sunday , "I don't recognize this person". In a recent interview with The Sun , Thomas talked about the rift and rumours that Meghan is allegedly a "difficult boss".

10 January 2019
Former Packers coach Mike McCarthy to sit out the 2019 season
The Cincinnati Bengals and the Dolphins remain the only teams yet to name their head coach for the 2019 season. This came on the same day as former Jets coach Todd Bowles was hired as Tampa Bay's defensive coordinator.

10 January 2019
Meghan's first royal patronage revealed by mistake
Meghan Markle has officially been announced as patron of four organisations, taking over two of those from The Queen. Mayhew is an animal welfare charity which helps cats and dogs through community initiatives and veterinary care.

10 January 2019
Hardik Pandya served show cause notice after misogynist remark
Rahul and Pandya receive show cause notice: Both the Indian cricketers have landed in trouble for their comments on a talk show. A BCCI source also told PTI that the body was considering disallowing cricketers from appearing on shows unrelated to cricket.

10 January 2019
Hasan Salihamidzic: Bayern Munich really want to sign Callum Hudson-Odoi
Hudson-Odoi has become frustrated with the limited first-team opportunities available in the Premier League and has spotted an opening in the Bundesliga .

10 January 2019
Hopes rise that DRC's elections are in home stretch
Members of the electoral commission met on Wednesday night and said results would be announced between 24 and 48 hours. Mr Tshisekedi, who received more than 7 million votes, had not been widely considered the leading candidate.

10 January 2019
Radio Signals From A Galaxy Light Years Away Have Been Reported
A new radio burst called FRB 180814.J0422+73 is now the second location in the sky to produce repeating radio bursts. The existence of a second repeating burst suggests there could be many more of the mysterious signals in the cosmos.

10 January 2019
Kelly faces new criminal investigation following dream hampton's Lifetime doc
Kelly is under legal scrutiny in two states, Georgia and IL , for sexual and physical abuse by multiple women. Timothy and Jonjelyn claim the singer is holding their daughter, Joycelyn Savage, against her will.