China-US trade talks have laid foundation for a deal, ministry says

China-US trade talks have laid foundation for a deal, ministry says

"Neither side has made a briefing, because the USA delegation is on the plane now", wrote Hu Xijin, editor of the Global Times, published by the ruling Communist Party's official People's Daily. Washington "cannot push China too far" and must avoid a situation that "spins out of control".

The meetings in Beijing were the first formal trade negotiations between the two sides since President Donald Trump and Chinese leader Xi Jinping agreed to a truce at the G20 summit in Argentina last month.

The editor-in-chief of China's state-run Global Times tabloid, Hu Xijin, said on Twitter earlier that the extension of the talks, originally scheduled for two days, "sends a signal".

The talks "improved mutual understanding and laid a foundation for resolving issues of mutual concern", the ministry said. -Chinese relations for years.

A statement from the Chinese government was expected as soon as Wednesday.

Beijing has tried to defuse pressure from its trading partners for more sweeping changes by offering concessions on investment regulations and stepping up purchases of American soybeans, natural gas and other exports.

The talks that started Monday were the first face-to-face meetings since Mr. Trump and his Chinese counterpart, Xi Jinping, agreed on December 1 to suspend further action against each other's imports for 90 days while they negotiate over USA complaints that Beijing steals or pressures companies to hand over technology.

The current trade round coincided with an unannounced visit from North Korean leader Kim Jong Un, who arrived in Beijing on Tuesday for talks with Xi, ahead of a possible second meeting between Kim and Trump. US and North Korean officials are believed to have met in Vietnam to discuss a location.

More news: IRS will pay tax refunds during government shutdown
More news: Tennessee governor grants clemency to woman convicted as teen
More news: Hedo Turkoglu: Knicks' Enes Kanters Using 'Smear Campaign' Against Turkey

The Chinese side has suggested talks were "constructive".

America is seeking assurances that China will buy more products from the order to reduce the trade deficit, and it wants a fairer playing field for USA companies that do business inside China, NPR has reported. "China does not need to use any other tactics".

Ted McKinney, U.S. under secretary of agriculture for trade and foreign agricultural affairs, said the U.S. trade delegation would return to the United States later on Wednesday after a "good few days". Both sides have provided scant information about their discussions.

With cooling economic growth raising the urgency for a settlement, this week's talks went ahead despite tension over the arrest of a Chinese tech executive in Canada on USA charges related to possible violations of trade sanctions against Iran.

If no deal is reached by 2 March, Trump has said he will proceed with raising tariffs to 25% from 10% on $200 billion worth of Chinese imports at a time when China's economy is slowing significantly.

The temporary trade war ceasefire came after the two sides imposed import duties on more than $300 billion in two-way trade.

A separate geopolitical issue angered China on Monday when a US Navy guided-missile destroyer sailed near disputed islands in the South China Sea - a vast expanse claimed by Beijing.

Related Articles