US Says China Willing to Buy More American as Trade Talks End

Latest US-China Trade Talks Focus on China’s Pledge to Buy More US Goods – USTR

Latest US-China Trade Talks Focus on China’s Pledge to Buy More US Goods – USTR

U.S. President Donald Trump argued that China has not treated the U.S. fairly in terms of trade. USA negotiators are also taking steps to ensure the Chinese government actually follows through on its promises. But aside from some soybean purchases, there has been little sign of big-ticket acquisitions. Trump has complained repeatedly about the US trade deficit with China, which a year ago likely exceeded the 2017 gap of $336 billion. The US goods trade deficit with China was Dollars 375.6 billion in 2017.

Hopes that the United States and China would strike a deal, ending their months-long trade deal led to an index of world stocks rising on Tuesday, while the dollar, which hit an 11-week low on Monday, rebounded as the euro weakened on concerns about a slowdown in the euro zone economy.

U.S. West Texas Intermediate crude futures on Wednesday gained nearly 5.2 percent, while Brent crude futures were up more than 4.6 percent. -Chinese relations for years.

At stake are scheduled USA tariff increase on $200 billion in Chinese imports.

Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports.

Tesla broke ground this week in Shanghai on its first factory outside the U.S. Musk said production of its Model 3 would start late this year.

China and the United States wrapped up three days of trade talks and are reportedly coordinating how to characterize the results publicly as officials from both nations expressed optimism that progress had been made.

The paper said in an editorial that Beijing's stance remained firm that the dispute harms both countries and disrupts the worldwide trade order and supply chains.

The deputy level negotiators will report back on next steps for talks, the usa statement said.

But it also said any deal with China must be followed up with ongoing verification and enforcement.

Still, the US statement said the negotiations dealt with the need for any deal with China to be "subject to ongoing verification and effective enforcement" - a comment that reflects USA frustration that the Chinese have failed to live up to past commitments.

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"We're optimistic", White House press secretary Sarah Huckabee Sanders told the Fox Business Network, adding "we expect that something will come of this".

While Beijing could take "easy steps" like importing soybeans, cotton and liquefied natural gas from the U.S., there would be greater difficulties on the technology front, including China proving its commitment to intellectual property rights with penalties on violators and addressing USA restrictions on China's electronic components, Pang said.

The next phase of trade negotiations will involve higher-level talks, likely when Trump attends the World Economic Forum in Davos, Switzerland, later in January.

US President Donald Trump tweeted that they were "going really well!"

Global financial markets retreated late a year ago, largely over concerns about the economic impact of a protracted trade war.

Both sides have actively implemented the significant consensus reached by the leaders of the two countries and conducted extensive, in-depth and detailed exchanges on trade and structural issues of common concern, said the statement.

Chinese foreign ministry spokesman Lu Kang said a one-day extension in talks showed both sides are serious about the negotiations.

"I think they went just fine", McKinney said of the talks.

One apparent breakthrough this week was an announcement by China that it would approve the imports of five new varieties of genetically modified crops, a decision for which United States farmers and businesses had waited years.

The U.S. China Business Council, a group representing American companies doing business in China, applauded the "substantive discussions" over the past three days, but urged the two governments to make tangible progress on achieving equal treatment of foreign companies in China and changes to policies aimed at technology transfer. "Progress should include a mechanism for the removal of tariffs and measurable, commercially meaningful outcomes", the U.S. "I don't know the timing and exactly what that will look like, but what I can be sure of is that we are moving towards a more balanced and reciprocal trade agreement with China".

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