US, China trade negotiations positive as Beijing meetings continue

US official says China trade talks ‘went just fine’ Posted

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

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.

The U.S. wrapped up three days of mid-level talks with China in Beijing on Wednesday, noting a commitment by President Xi Jinping's government to buy more U.S. agricultural goods, energy and manufactured products.

China's commerce ministry said the discussions "established a foundation for the resolution of each others' concerns".

It's a tight window in which to nail down deep changes to China's economic model, some of which past USA administrations advocated for years and US lawmakers on both sides of the aisle support.

Although neither side offered details of the meeting, one US negotiator sounded a note of optimism to reporters after the talks broke up. The talks, though arduous, were conducted in a pleasant and candid atmosphere, he said.

Signals from the latest round of talks were upbeat, the Post report said.

"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.

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The negotiations in Beijing this week were "extensive, deep and detailed", China's commerce ministry said.

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.

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.

Later this month, Lighthizer is expected to meet with Vice Premier Liu He, Xi's top economic aide who is leading negotiations for China. In recent weeks, China has showed some signs of flexibility or acceding to the American demands.

If no deal is reached by March 2, US tariffs on $200 billion Chinese goods will rise from 10 percent to 25 percent.

Chinese exports to the USA have held up despite tariff increases of up to 25 percent on $250 billion of Chinese imports, partly due to exporters rushing to fill orders before more increases hit.

"The earlier escalation of the trade conflict between the USA and China and souring bilateral relations appear to have given way to a more conciliatory approach since early December", he wrote in a note Thursday. Goods exports totalled United States dollars 129.9 billion; goods import totalled USD 505.5 billion.

In November, Chief Executive of the Russian Export Center Andrey Slepnev said that the projected figure of $100 billion worth of mutual Russia-China trade could double in the years ahead.

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