US and Chinese officials expressed hopes Monday that a new round of talks would bring them closer to easing their 7-month trade dispute
The world’s 2 largest economies are working to hammer out a deal before the 1 March deadline, after which US tariffs on $200-B worth of Chinese imports are scheduled to increase to 25% from 10%.
Washington to keep pressing Beijing on long-standing demands that it make sweeping structural reforms to protect American companies’ intellectual property, or IP, end policies aimed at forcing the transfer of technology to Chinese companies, and curb industrial subsidies.
White House economic adviser Kevin Hassett said The Trump Administration was pleased that the talks were moving forward but cautioned that 1 March is a “real deadline” for reaching a deal.
The talks kicked off in Beijing with discussions among deputy-level officials on Monday before minister-level meetings later in the week.
“You know, the juniors are working on something now that they’re going to present to the seniors later in the week,” Mr. Hassett told reporters. “And, absolutely, you know, we’ve put everything on the table, including IP theft and forced technology transfer and so on.”
Mr. Hassett, who chairs the Council of Economic Advisers, added that the White House is “very much looking forward to what the senior people come up with this week.”
Chinese Foreign Ministry spokeswoman Hua Chunying also struck an upbeat tone about the talks, telling a news briefing: “We, of course, hope, and the people of the world want to see, a good result.”
Latest posts by Paul Ebeling (see all)
- A Divided FOMC Walking ‘The Trump Tightrope’ - August 21, 2019
- The Pressure is on the Fed to Cut Rates - August 21, 2019
- Germany Signals More Central Bank Stimulus Coming… - August 21, 2019