Chinese newspaper warns USA not to push too hard on trade
09 January, 2019, 11:59 | Author: Frank Williams
He publicly said he's eager to make a deal that benefits both sides while also stressing that China's slowing economy and falling stock market signal the country is more desperate than the US for a speedy outcome.
The source confirmed to Reuters that the talks were "ongoing", but few other details had emerged.
The working level talks held at the Chinese Commerce Ministry were the first round of face-to-face discussions since both sides agreed to a 90-day truce in a trade war that has roiled global markets.
Monday's events also came as China and the US began talks in an attempt to settle a trade war that has cost both countries billions of dollars. China's Ministry of Commerce specifically promoted "new progress" on one of two trade calls during which trade imbalances and intellectual property protections were discussed.
The American delegation is led by a deputy US trade representative, Jeffrey D. Gerrish, and includes agriculture, energy, commerce, treasury and State Department officials.
Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports over complaints Beijing steals or pressures companies to hand over technology.
"I think China wants to get it resolved - their economy's not doing well", Mr Trump told reporters on Sunday.
Earlier on Tuesday, China approved five genetically modified (GM) crops for import, a move seen as a "goodwill gesture" by some in the US agriculture industry that could boost China's overseas grains purchases and ease pressure from the United States to open its markets to more farm goods.
Ross, in an interview on CNBC, said the talks in Beijing would help determine whether trade differences between the world's two largest economies could be resolved through negotiations.
Over the past two days, talks have been under way between the USA and China to find a way to end the conflict. The Chinese side firmly opposes the relevant action by the United States side and urges the United States to immediately stop such provocations. "China's development has ample tenacity and huge potential", Lu said.
The two countries have until March 1 before USA tariffs on some US$200 billion in Chinese goods are set to rise to 25 per cent from 10 per cent.
USA officials worry that China's rise as a potential competitor in telecoms, solar power, electric cars and other fields might erode American industrial leadership. And to me those are immediate trade. "We have firm confidence in the strong long-term fundamentals of the Chinese economy".
Official U.S. fuel storage data from the Energy Information Administration (EIA) is due at 1800 GMT on Wednesday.
The Trump administration's calculus regarding how much to stress either increased purchases of USA goods, on the one hand, or structural reforms reflects a divide within the White House.
China and the United States have in the past repeatedly traded barbs over what Washington says is Beijing's militarization of the South China Sea by building military installations on artificial islands and reefs. US Trade Representative Robert Lighthizer has consistently stressed the latter, emphasizing the importance of binding enforcement mechanisms.
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Romelu Lukaku has had to start life under Solskjaer on the bench, but did score in each of his past two substitute appearances. There is no Premier League team that could say they have as good goalkeeper being their number two. "For me, it's a disgrace".
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US Secretary of Commerce Wilbur Ross on Monday said that China's economy is more vulnerable to the fallout from the trade dispute. Behind the scenes, however, the White House has gradually taken a softer stance toward the North, with U.S.
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