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China trade talks conclude as hopes of a deal build

10 January, 2019, 10:56 | Author: Sara Gill
  • USS Mc Campbell departs Sydney Aus. July 2017

But aside from some soybean purchases, there has been little sign of big-ticket acquisitions.

The U.S. team is led by Deputy U.S. Trade Representative Jeffrey Gerrish, and includes under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from the White House. WTI is among the most popular US light crude grades with Asian buyers. -China trade talks in Beijing are progressing well, as Chinese authorities planned to give a statement following the latest round of negotiations. "There is the potential for Q2 US crude exports to Asia to be higher year-on-year if the WTI/Brent spread remains in the range it has in recent months and with the lower freight rates", Reuters quoted a Genscape oil analyst, David Arno, as saying. -Chinese relations for years.

Washington and Beijing have been locked in a trade war since Trump announced in June a 25 percent tax on $50 billion worth of Chinese imports, in a bid to fix the US-Chinese trade deficit.

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.

"China's position in the China-US trade friction and its solutions to the friction is open, it's transparent", Lu said at a regular press briefing.

The paper said in an editorial that Beijing's stance remained firm that the dispute harms both countries and disrupts the global trade order and supply chains.

The deputy level negotiators will report back on next steps for talks, the United States statement said.

One of the biggest challenges to any deal would be to ensure that China enforces whatever is agreed to stop technology transfers, intellectual property theft and hacking.


Officials also stressed the necessity that any trade deal with Beijing would require "ongoing verification and effective enforcement", according to a readout released by the office of the US Trade Representative.

"I think China wants to get it resolved".

Trump said the US tariffs had hurt China.

While the hosts indicated the talks would run Monday and Tuesday, the editor-in-chief of the Chinese state-run Global Times newspaper said in a tweet the discussions could continue Wednesday.

Companies in both the United States and China are feeling the pain from the effects of the U.S. Apple Inc. cut its revenue outlook last week as sales of the iPhone were slower than expected in China, while data on factory activity and retail sales in the Asian nation were also weak.

Negotiators began the talks Monday on the trade war launched by U.S. President Donald Trump in July with tariff hikes on Chinese goods in response to complaints that Beijing steals or pressures companies to hand over technology.

Some degree of optimism followed a United States trade delegation home from Beijing on Wednesday, after the most comprehensive trade negotiations held yet between the world's two largest economies since a tit-for-tat tariff battle ensued previous year. USA bond yields also climbed, with the benchmark 10-year Treasuries yield rising to 2.7404 percent, compared with its one-year low of 2.543 per cent hit just before Friday's strong payrolls data.

However, people familiar with the negotiations told Reuters on Tuesday the two sides were further apart on Chinese structural reforms that the Trump administration is demanding in order to stop alleged theft and forced transfer of US technology, and on how China will be held to its promises. USA officials have repeatedly accused China of not fulfilling agreements, with Ross saying on Monday that 'the real issue is what are the enforcement mechanisms, what are the punishments if people don't do what they were supposed to do?'

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