China Says Negotiations With US 'Lay Foundation' for Resolving Trade Dispute

USS Mc Campbell departs Sydney Aus. July 2017

USS Mc Campbell departs Sydney Aus. July 2017

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

Gao did not comment, however, on whether he was confident that the talks could be wrapped up in the 90-day period laid out by President Donald Trump and China's Xi Jinping.

The U.S. Trade Representative's office issued its own statement a day earlier, . and said China has pledged to purchase "a substantial amount" of agricultural, energy and manufactured goods and services from the U.S.

U.S. -CHINA TALKS: It's not clear what will happen now that the U.S. and China have ended their latest round of trade talks.

Increased purchases by China of United States soybeans, oil, liquefied natural gas and financial services are viewed as easier to achieve than major changes to China's industrial policies aimed at transferring USA technology to Chinese firms.

The two sides might be moving toward a "narrow agreement", but "U.S. trade hawks" want to "limit the scope of that agreement and keep the pressure up on Beijing", Eurasia Group analysts Michael Hirson, Jeffrey Wright and Paul Triolo said in a report.

Big spending on commodities and goods would send a positive signal on China's intent to work with the United States, but would do nothing to resolve the USA demands that require hard structural change from China.

Derek Scissors, a China scholar at the American Enterprise Institute, a Washington think tank, said there was still time for a deal to be struck, but it will largely be based on American acceptance of Chinese promises for changes to its economic model, with little evidence of action.

However, if no deal is reached by March 2, Trump is prepared to hike tariffs from 10 percent to 25 percent on $200 billion worth of Chinese imports.

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China has imposed penalties on $110 billion of American goods, slowing customs clearance for USA companies and suspending issuing licenses in finance and other businesses.

"As for whether the Chinese economy is good or not, I have already explained this". Asked about his presence on Tuesday, Lu from the foreign ministry said it wasn't surprising for Liu to be there. The gains for US indexes faded slightly after President Donald Trump and Democratic leaders said Trump cut short a meeting on ending the partial shutdown of the federal government. Chinese leaders see them as a path to prosperity and global influence and are reluctant to abandon them.

Three days of U.S.

The discussions "went just fine", he said without elaborating.

The U.S. delegation, which traveled to Beijing for the discussions, will return to the U.S.

U.S. Secretary of State Mike Pompeo told CNBC that the United States and China are "making progress" on trade. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

A person familiar with the matter tells CNN that negotiators between the world's two largest economies needed more time to discuss issues that were part of the agenda. However, the vice-ministerial talks were extended till Wednesday which China said reflected the seriousness of the negotiations.

Negotiators appeared to make more progress on areas such as plans by China to step up purchases of American exports, while giving U.S. companies greater access to its market in order to build confidence between the two sides after months of bitter confrontation.

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