US, China leave future of trade talks unclear

The US and its allies periodically send planes and warships near the Paracel Islands an area claimed by China

The US and its allies periodically send planes and warships near the Paracel Islands an area claimed by China

China says the talks established a basis for resolving the concerns of both sides.

Also, "Both parties agreed to continue to maintain close contact". It said us negotiators would await "guidance on the next steps" after reporting back to Washington.

U.S. Undersecretary for Trade and Foreign Agricultural Affairs Ted McKinney is chased by journalists as he walks into a hotel after a second day of meetings with Chinese officials in Beijing, Tuesday, Jan. 8, 2019.

But they extended past their deadline, which the Chinese Foreign Ministry said signified that both sides were "very serious about these negotiations".

"I believe China is buying time and waiting to see how things pan out", Ding said.

The results of the talks would be analysed at a separate meeting between United States trade representative Robert Lighthizer and Chinese Vice-Premier Liu He.

Citing unidentified Chinese officials involved in the trade talks, Bloomberg reported January 9 that there were disagreements between the two delegations on structural issues, which they hope will be addressed when more senior negotiators meet for talks.

Negotiations between China and the USA concluded Wednesday in Beijing, and results will be announced soon, according to Chinese foreign ministry spokesperson Lu Kang.

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Amid a 90-day tariff truce between China and the United States since December, the three-day talks ended on Thursday with Beijing promising to import a large number of American products and services, reported CNBC.

President Donald Trump raised hopes last week that an agreement could be found to end the months-long dispute, during which the world's top two economies have imposed import duties on more than $300 billion of each other's goods.

That issue was the first stressed in the statement released Wednesday, which noted that "the officials also discussed the need for any agreement to provide for complete implementation subject to ongoing verification and effective enforcement".

Washington is pressing Beijing for changes including rolling back plans for government-led creation of Chinese global champions in robotics and other fields.

Chinese officials have suggested that Beijing might alter its industrial plans but rejected pressure to abandon what they consider a path to prosperity and global influence. "But what's going to be hard for the Chinese side is to level the playing field for US companies inside of China".

In March, when the tariff tit-for-tat was in its infancy, President Trump suggested the US might impose up to $60 billion worth of tariffs on Chinese goods. Chinese pledges to increase US imports would naturally center on a boost in agricultural products sent to China.

The discussions are the first face-to-face interactions between the USA and China since both presidents met in Argentina and agreed to a temporary truce in their tit-for-tat tariff war. President Donald Trump and his deputies have criticized China for failing to live up to past promises, including a pledge to promptly open up the Asian nation's economy to more trade and investment after it joined the World Trade Organization in 2001. "I really believe they want to make a deal".

Earlier this week, China approved five genetically modified (GM) crops for import, the first in about 18 months, which could boost its overseas grains purchases and ease U.S. pressure to open its markets to more farm goods.

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