Trump says U.S. is having tremendous success with China on trade

Irving Hamilton
January 12, 2019

Neither side has said when the two countries will meet again for further negotiations.

"With regard to trade issues and structural problems both sides were concerned about, both carried out extensive, deep, and meticulous exchanges, promoted mutual understanding, and laid the foundation for solving problems that both are interested in", the statement read.

The vice-ministerial level talks are working-level discussions and not meant to yield a final agreement.

A Chinese foreign ministry spokesman, Lu Kang, announced that the talks had ended.

America is seeking assurances that China will buy more products from the U.S.in order to reduce the trade deficit, and it wants a fairer playing field for US companies that do business inside China, NPR has reported.

Interestingly, while officially this was a vice minister-level dialogue, China's top man for the trade negotiations, Vice Premier Liu He, made an appearance anyway.

Without a resolution, punitive United States duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent on March 2.

Asian markets were mixed yesterday after the United States (US) and Chinese officials wrapped up three days of trade talks in Beijing without significant breakthroughs.

As the scheduled trade talks extend to a third day, speculations are rife over China's intentions on coming down to an agreeable trade deal with the Trump administration.

The US and China have been locked in an escalating trade spat since early 2018, raising import tariffs on each other's goods.

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The findings were presented during a meeting held by the American Astronomical Society in Seattle, Wash., on Thursday. FRBs last for just a few milliseconds, and their unpredictable displays make observations notoriously hard .

In a statement released on Thursday, China's Commerce Ministry said the country had concluded their trade talks with the USA and the talks were extensive, . while establishing a foundation to resolve both sides' concerns.

China defends its construction as necessary for self-defense and says that it is rather Washington that is responsible for ratcheting up tensions in the region by sending warships and military plans close to islands Beijing claims.

Trump said the US tariffs had hurt China.

At stake are scheduled U.S. tariff increase on $200 billion in Chinese imports. The two sides have shown signs of common ground in the past year, only for progress to stall.

Almost halfway into the 90-day truce, there have been few concrete details on progress made so far.

Those include initiatives such as "Made in China 2025", which calls for state-led creation of Chinese global champions in robotics, artificial intelligence and other fields.

China, which illegally claims control of the disputed islands, denounced the patrol as a "provocation" and said it "gravely infringed upon China's sovereignty".

US Commerce Secretary Wilbur Ross said Monday that China's economy was more vulnerable to the fallout from the trade war.

Chinese exports to the USA have held up despite tariff increases, partly due to exporters rushing to fill orders before more increases hit.

The discussions are the first face-to-face interactions between the US and China since both presidents met in Argentina and agreed to a temporary truce in their tit-for-tat tariff war. However, U.S. Trade Representative Robert Lighthizer - who was not present for the talks, but who is tasked with overseeing the negotiating effort - has long emphasized a harder stance on the trade issue, one that would necessitate real Chinese action to reform its state-centric economic approach.

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