China Trade Talks Wrap Up After Extending To Third Day

Beijing-Washington trade talks concluded

The talks - led by US Deputy Trade Representative Jeffrey Gerrish and Chinese Vice-Commerce Minister Wang Shouwen - were initially scheduled to end on Tuesday.

The US released a statement on the meetings, alluding to at least one potential concrete commitment on the part of China.

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.

"We are moving towards a more balanced and reciprocal trade agreement with China", she said, adding that no one knows yet what that agreement will look like or when it will be ready.

She added that the Trump administration's complaint that China is stealing USA intellectual property is "top of mind" in the negotiations with Beijing.

He said that if more compromises are made when Chinese Vice Premier Liu He meets U.S. Trade Representative Robert Lighthizer, an official who is viewed as being more hawkish on trade with China, the crisis will only be halfway averted. "This is what China has wished for, but I think the USA will wait and see", Chiu said.

"The talks also focused on China's pledge to purchase a substantial amount of agricultural, energy, manufactured, and other products and services from the United States", the USTR said.

"I don't think the US will easily remove tariffs that have been imposed on Chinese goods". Such an agreement, indeed, was previously reached in May 2018, when U.S. Treasury Secretary Steven Mnuchin announced that the trade war had been put "on hold" thanks to China's pledge to "significantly increase purchases of United States goods and services".

Analysts said the positive momentum of the talks will need to be followed up by more senior officials. They include changes to China's policies on intellectual property protection, technology transfers, industrial subsidies and other non-tariff barriers to trade.

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. -China trade dispute. Apple Inc (AAPL.O) rattled global markets last week when it cut its sales outlook, blaming weak demand in China.

In addition to the large trade deficit, the USA has long complained about such structural issues. In recent weeks, China has showed some signs of flexibility or acceding to the American demands.

China has imposed penalties on $110 billion of American goods, slowing customs clearance for USA companies and suspending issuing licenses in finance and other businesses.

It softened its stand by offering a mix of concessions by resuming purchases of USA soybeans, suspended punitive tariffs on imports of United States cars and toned down its "Made in China 2025" plan, which aimed at breaking the country's reliance on foreign technology and pull its hi-tech industries up to western levels.

Fears of a global slowdown and weaker corporate earnings - exacerbated by billions of dollars in tit-for-tat tariffs between the USA and China - have led to a sharp pullback on markets over the last few months.

Earlier this week, China approved five genetically modified (GM) crops for import, the first in about 18 months, which could boost its overseas grains purchases and ease U.S. pressure to open its markets to more farm goods.

Trade in services with China (exports and imports) totalled an estimated Dollars 75.0 billion in 2017.

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 U.S. demands that require hard structural change from China. Unfortunately, China's definition of what "should not and can not" be reformed has always included precisely the areas of most USA concern.

Related News:

  • Hardik Pandya, KL Rahul suspended over comments on ‘Koffee with Karan’

    Hardik Pandya, KL Rahul suspended over comments on ‘Koffee with Karan’

    With less than 24 hours before the first match of a three-game one-day series, it is hardly an ideal preparation for the tourists. The CoA has taken on board the recommendation of the BCCI's legal team that Pandya and Rahul be suspended pending an inquiry.
    Poland arrests Huawei employee over spying allegations

    Poland arrests Huawei employee over spying allegations

    Local media identified the firm as Huawei Technologies Co and said the suspect was the sales director of its office in Poland. Some experts also see a risk that Chinese intelligence may develop an ability to subvert Huawei's equipment.

    Alia Bhatt gets mobbed, Ranbir Kapoor comes to the rescue

    He was also seen pretty alert when a few of the fans tried to get a bit close to click selfies with them. It took me no time to convince the delegation to pay this historic flying visit to Delhi".
  • Carlos Ghosn comes down with fever in jail, halting interrogation

    Carlos Ghosn comes down with fever in jail, halting interrogation

    The judge, Yuichi Tada, said it was because he was considered a flight risk, and the possibility of concealing evidence. The second charge against him alleges that the under-reporting continued for another three years.
    Weird  ending as Tomic wins first clash against Kyrgios

    Weird ending as Tomic wins first clash against Kyrgios

    Cahill had coached Halep for four years. "It's good to play a competitive match, it's the best way to acclimatise", he said. Nadal opens his bid for an 18th major title against Australian wildcard playoff victor James Duckworth .
    'Criminal Minds' set to end after 15 seasons on CBS

    'Criminal Minds' set to end after 15 seasons on CBS

    Cast shakeups and behind-the-scenes drama have been the standard on " Criminal Minds " for the past several years. The series was created by Jeff Davis and is executive produced by Mark Gordon, Erica Messer , and Breen Frazier.
  • Apple’s iPhone 2019 series will bring no major upgrade

    Apple’s iPhone 2019 series will bring no major upgrade

    As per the report, Apple is also planning to shift its display technology to OLED for the 2019 iPhone family of devices. This means the company's complete 2019 lineup would likely make use of the iPhone XR's Haptic Touch feature instead.
    Astronomers detect mysterious repeated radio signal from faraway galaxy for second time

    Astronomers detect mysterious repeated radio signal from faraway galaxy for second time

    The only known repeating fast radio burst source -FRB 121102-has been localised to a star-forming region in a dwarf galaxy... The CHIME telescope in British Columbia will search our universe for phenomena such as fast radio bursts , pulsars and more.
    Rumour: FCA to pay US$ 650m for diesel emission settlement

    Rumour: FCA to pay US$ 650m for diesel emission settlement

    Fiat Chrysler has maintained that it didn't deliberately scheme to cheat emissions tests and the company didn't admit wrongdoing. The company also reached a $280 million settlement with the owners of 100,000 diesel-powered Jeep SUVs and Ram pickup.
  • China offers Elon Musk permanent residency

    China offers Elon Musk permanent residency

    During the meeting, Musk expressed his affection for China, with Li responding by saying he could be granted permanent residency. Ellison's revelation comes as Tesla emerges from a rough patch.
    Malta refutes Salvini's claim of unfulfilled promise to take in migrants

    Malta refutes Salvini's claim of unfulfilled promise to take in migrants

    Italian Deputy Prime Minister Matteo Salvini said on Wednesday he wanted Rome and Warsaw to join forces in reshaping the EU. The EU's top court ruled it posed it threatened to undermine the independence of the courts.
    In Botched Delivery, Nurse

    In Botched Delivery, Nurse "Pulls Too Hard" Leaving Baby's Head In Womb

    The man in charge of the heath centre in Ramgargh, Dr Nikhil Sharma, said he wasn't present at the time of the incident. Health minister Raghu Sharma said, "Those guilty will be punished and strict action will be taken after investigation".


Most liked

Chelsea’s Lack of History Is Why I Joined Liverpool- Alisson
One of the main reasons Liverpool now sit top of the Premier League by four points is their incredible defensive record. I don't celebrate it like any other goal", the 26-year old admitted. " What's life if not fighting for your dreams? ".

Derby County: Leeds United contacted over training ground 'spy'
Derbyshire Police took to Twitter to confirm the incident, saying that no damage was done and no arrests were made. Derbyshire Police said the man was found "at the perimeter fence of Moor Farm and was spoken to".

Chocolate-covered marshmallows recalled nationwide over hepatitis A fears
But today, the firm announced a voluntary recall after a worker tested positive for hepatitis A , a highly contagious infection. People infected with hepatitis A might not have symptoms until 15 to 50 days they are exposed, said the FDA in its notice.

Incredible helicopter rescue in the French Alps
The video was uploaded to Facebook by user Nicolas Derely on January 3 and has been shared more than 5,500 times. In the video, a helicopter is seen perching on the steep slope of the snow-covered mountain.

Bayern disrespecting Chelsea over Hudson-Odoi pursuit - Sarri
Chelsea have so far rejected Bayern's advances and Hudson-Odoi has been promoted to their starting XI for the Blues last two fixtures.

China broadcasts pictures from far side of the moon
The Chang'e 4 is shown adjusting its altitude, speed and pitch as it seeks to avoid craters and uneven surfaces before it lands. The rugged terrain will pose great challenges for planning the route of the rover.

The Oscars Is Trying To Assemble The AVENGERS
The Academy nearly reconsidered Hart after he agreed to sit down with talk show host Ellen Degeneres in early January. With Kevin Hart stepping down from hosting duties of The Oscars ceremony in February, the event is now host-less.

Lana Del Rey release haunting new single
The track is believed to be the snippet of music we heard past year which everyone titled "Sylvia Plath". Hope is risky thing for a woman like me to have - but i have it is an emotional ballad.

New software cracking down on Netflix accounting sharing
Netflix is one of the world's most popular video streaming services and offers an array of TV shows, films and more for customers. If an account is signed in and watching shows in both Edinburgh and London, then Synamedia flags the user.

Google Assistant coming to Sonos One, Beam and 'earlier' speakers
In the next few weeks, all Android devices will benefit from this specific feature that was available to a limited number of users.

Labour to back bid for extra parliamentary barrier to no-deal #Brexit
At an election, Labour "would set out what we would seek to negotiate in Europe to try and deliver", he told Sky News' Sophy Ridge on Sunday.

Canada willing to accept Saudi woman seeking asylum, Thai police say
Saudi Arabia has come under fire since the murder of journalist Jamal Khashoggi in the country's consulate in Istanbul past year . Qunun had flown to Thailand from Kuwait to escape her family, saying she feared they would kill her because she renounced Islam.

‘The Accidental Prime Minister’: Bihar court orders FIR against actors
The best part is that it shows the human side of Manmohan Singh though not to a great deal. The actor is in top form and you wish that he does more films.

Koffee with Karan: Hotstar pulls down episode featuring Hardik Pandya, KL Rahul
With the cricket and the entertainment industry analyzing the comments of Hardik on the show, we wonder what will be his future. With suspension pending inquiry, it remains to be seen now if Rahul and Hardik stay with the team or they are sent back home.

Daughter of Brandon Mebane of Los Angeles Chargers dies after seven weeks
Mebane is now in his third season with the Chargers where he is one of the captain's on defense. Makenna was born premature with trisomy 13, a defective heart condition.