Daily Management Review

New Round Of Face-To-Face Talks Between US And China On Trade War


03/25/2019




The White House has confirmed that face-to-face negotiations would be held next week between trade representative of the United States and China aimed at bringing an end of the trade war that is ongoing between the countries.
 
Following next week’s meeting, further talks would be held when Chinese officials would travel to Washington in early April.
 
The trade war which started between the two countries middle of last year has seen both the countries imposing import tariffs on each others’ goods worth billions of which has cast a cloud over the growth prospect of the global economy. The US and China had agreed to a 90 day truce in the trade war back in December last year which was extended by the US and China pursuant to the positive developments of the trade negotiations. US president Donald Trump has cast talks in a positive light, saying they are going "very well".
 
The US would be represented in the latest round of talks by US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin who would be holding negotiations with Chinese Vice-Premier Liu He in Beijing starting Thursday, 28 March.
 
Deputy trade representative Jeffrey Gerrish and other senior officials from the Office of the United States Trade Representative and the Department of the Treasury would also accompany the two main negotiators form eh US.
 
The Chinese delegation led by Mr Liu will visit the US on 3 April with the aim of closing a deal by late April.
 
 
Some had expected the two sides to come to an agreement on trade already but it has not been so, with extraordinary comments sometimes being made by officials at times about the progress of the negotiations.
 
Previous US and China talks broke up without a deal on 15 February, with the US warning "very difficult issues" remained unresolved. However by the end of the same month, Trump had tweeted saying that the two parties were "very very close" to signing a trade agreement. However that final agreement has remained elusive so far .
 
The US had imposed the trade tariffs on China over allegations of theft of intellectual property from American firms, and forced transfer of technology to Chinese companies against China. Washington has demand that Beijing should bring in substantive changes to its trade policies and practices because, according to the US, those unfairly favour domestic companies by giving then subsidies and other support. Trump has demanded that China should open its domestic market to American companies and should also make more purchase of US goods so that a huge bilateral trade deficit against the US can be reversed.
 
The US on the other hand has been accused of China of launching the largest trade war in economic history and many experts believe that China would not ultimately bring in any broad structural changes.
 
(Source:www.bbc.com)






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