Critical US-China trade talks enter second day in Beijing

Adjust Comment Print

U.S. Trade Representative Robert Lighthizer and U.S. Commerce Secretary Wilbur Ross, who also are part of the U.S. delegation, on Tuesday both downplayed expectations for a major deal.

The two sides had thorough exchange of views on issues including increasing US exports to China, bilateral service trade, two-way investment, protection of intellectual property rights, as well as resolving tariff and non-tariff issues, reaching consensus in some areas.

In recent months, Trump has demanded a $100 billion annual reduction in the $375 billion USA goods trade deficit with China, and responded to Chinese vows of retaliation over U.S. tariffs with threats of duties on another $100 billion worth of Chinese exports to the United States.

The negotiations are expected to deal with ways to resolve their trade disputes.

She reiterated that China welcomed the talks but that they had to be founded on equality and mutual respect. The talks started on Thursday, May 3.

However, they dismissed Trump's demand for a huge deficit reduction as both arbitrary and nonsensical.

You can now purchase the Oculus Go standalone VR headset for $199
The Oculus Go headset has been officially launched today and it's now available for purchase in 23 countries across the globe. Starting at $199 Dollars for 32 GB of storage (or $249 USD for the 64 GB model), Oculus Go was designed with comfort in mind.

US President Donald Trump has threatened to levy new tariffs on US$150 billion of Chinese imports while Beijing shot back with a list of US$50 billion in targeted US goods.

On that strategic blueprint, however, Beijing looks unlike to relinquish any ground says Yu Miaojie, a professor at Peking University's National School of Development.

And the state-run Global Times newspaper also struck a defiant tone when it said in a commentary on Thursday that it was China's "sovereign right to develop high-tech industry" which was connected to "the quality of rejuvenation of the Chinese nation" that would not be abandoned on external pressure.

But the diverse U.S. trade delegation is likely to have differing views among its members on the merits of any deal China might be willing to make.

We only heard from US Treasury secretary Mnuchin earlier that they are "having very good conversation" with their Chinese counterparts. Therefore, the trip would produce few results and increased the risk that tariffs are adopted in the near future, it added.

Several worldwide media outlets reported Friday that Washington had urged China to cut its trade suplus with the U.S. immediately and to stop subsidising advanced technology. "I don't think it can because the fear of China now is fundamentally different".