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CHINA-US-TRADE-ECONOMY
China says US trade talks ‘laid foundation’ to resolve concerns
BEIJING, Jan 10, 2019 (BSS/AFP) – China said Thursday that trade talks in
Beijing with a US negotiating team had “laid the foundation” to resolve
concerns held by both sides in a bruising trade war.
US officials visited Beijing from Monday to Wednesday for the first sit-
down talks since President Donald Trump and Chinese leader Xi Jinping agreed
on December 1 to a three-month truce in the escalating trade spat.
World markets rose on increasing optimism that the two sides would be able
to hammer out a deal ahead of a March deadline and avert further import
tariff hikes.
China and the US “conducted extensive, in-depth and meticulous exchanges
on trade issues and structural issues of common concern, which enhanced
mutual understanding and laid the foundation for resolving issues of mutual
concerns,” the commerce ministry said in a statement.
“Both parties agreed to continue to maintain close contact,” the ministry
said.
Washington has been clamouring for an end to the forced transfer — and
even theft — of American technology, as well as steep government subsidies
for Chinese companies.
The Trump administration also wants Beijing to buy more American goods to
narrow a yawning trade gap and allow foreign players better access to the
Chinese market.
The US Trade Representative office said Wednesday that the talks focused
on “ways to achieve fairness, reciprocity, and balance in trade relations”,
as well as the need for “ongoing verification and effective enforcement” of
any agreement.
“The talks also focused on China’s pledge to purchase a substantial amount
of agricultural, energy, manufactured goods, and other products and services
from the United States,” USTR said in a statement.
BSS/AFP/HR/0905