Daily Management Review

US, China to hold new negotiations in Beijing


Senior US and Chinese officials are preparing to hold another round of trade negotiations in Beijing next week, Reuters reported, citing two sources familiar with the situation.

U.S. Department of State
U.S. Department of State
According to the agency interlocutors, the US delegation will begin arriving in Beijing at the weekend, after a break this week, associated with the celebration of the lunar New Year in China.

Earlier, the Wall Street Journal reported on a new round of talks in Beijing, citing an unnamed high-ranking official in the administration. The United States delegation will be led by Trade Representative Robert Lighthizer and Finance Minister Steven Mnuchin, the source said.

The bilateral talks will be focused on meeting US demands for profound structural changes in China’s economic and trade policies, including new measures to protect intellectual property, ending coercive technology transfer, restricting Chinese subsidies for industry, and increasing China’s purchases of American agricultural, energy and industrial products.

According to the WSJ, China agreed to expand trade discussions to discuss cyber attacks.

On Tuesday, US President Donald Trump, speaking before Congress with the annual message, said that China’s new trade deal should include real structural changes to “put an end to unfair trade practices, reduce our chronic trade deficit and protect American workers places”.

Washington also planned to increase duties on Chinese imports worth $ 200 billion from 10% to 25% from January 1. However, in December, the leaders of the United States and China on the sidelines of the G20 summit in Argentina agreed to postpone the introduction of new duties for 90 days.

If the parties fail to reach an agreement by March, Washington may return to its plans to increase fees, and Beijing may respond.

Trump said last week in Washington that he will meet with Chinese President Xi Jinping in the coming weeks to try to reach a comprehensive agreement.

source: reuters.com