Trade war: China says United States talks 'laid ground' to resolve dispute

Trade war: China says United States talks 'laid ground' to resolve dispute

Trade war: China says United States talks 'laid ground' to resolve dispute

Negotiations between USA and Chinese trade officials, which began Monday in the Commerce Ministry in Beijing, finally concluded on Wednesday as both sides sought to inch closer to an understanding on a number of disagreements.

But a statement released earlier by the Office of the United States Trade Representative (USTR) said the talks were held with "a view to achieving needed structural changes in China with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft of trade secrets for commercial purposes, services, and agriculture".

Oil prices jumped more than 4 percent on Wednesday as the extension of U.S. Trump tweeted on Tuesday. But neither side appears to have budged, and economists say three months is too little time to resolve issues that have disrupted U.S.

Big spending on commodities and goods would send a positive signal on China's intent to work with the United States, but would do nothing to resolve the US demands that require hard structural change from China.

"It seems there have been no fist fights internally between the two delegations", a person familiar with the progress of the talks told CNN on Tuesday, describing them as "constructive". -China relationship for years. The move prompted China to increase tariffs on Dollars 110 billion of United States goods.

Trump agreed to suspend plans to increase tariffs on $200 billion worth of Chinese products from 10 percent to 25 percent while the countries attempt to negotiate a compromise on several issues during the trade talks.

Beijing has said it will not give up ground on issues it conceives as core.

China and the U.S. wrapped up three days of trade talks and are reportedly coordinating how to characterize the results publicly as officials from both nations expressed optimism that progress had been made.

The paper said in an editorial 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 U.S. statement said. They say China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged. Prior to the meeting, China made a number of concessions to United States 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. She added, "we expect that something will come of this. I don't want to comment on what that will look like".

USA officials are expected to host China's top trade negotiator, Vice Premier Liu He, in Washington later this month, a source told CNN on Monday.

Global financial markets retreated late previous year, largely over concerns about the economic impact of a protracted trade war.

China said Thursday (Jan 10) that trade talks in Beijing with a U.S. negotiating team had "laid the foundation" to resolve concerns held by both sides in a bruising trade war.

"I think they went just fine", McKinney said of the talks.

Washington wants Beijing to change its plans to use government support to make Chinese companies world leaders in robotics and advanced technologies. "Progress should include a mechanism for the removal of tariffs and measurable, commercially meaningful outcomes", the U.S.

But they are a key step before both countries' top negotiators - US Trade Representative Robert Lighthizer and Chinese Vice-Premier Liu He - can sit down to thrash out a deal.

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