China Trade Talks to Take Place in Beijing in Early January

by Ben Pena December 30, 2018, 1:32
China Trade Talks to Take Place in Beijing in Early January

Although Chinese and US officials have been in constant contact since the meeting between Trump and Xi in Argentina, China has not been clear on the specifics of what the USA has said it wants from them, according to two people in Beijing with knowledge of the talks.

Feng further said: "In January, in addition to maintaining intensive telephone consultations, the two sides have made specific arrangements for face-to-face consultations".

President Donald Trump met again with Chinese President Xi Jinping on December 1 at the G20 in Argentina, along with trade advisers. Treasury Secretary Steven Mnuchin said last week the US team and its counterparts have held discussions over the phone.

Bloomberg says the meeting adds to signs that the two largest economies in the world are cooling off trade tensions.

Earlier this month, China's major state-owned grain stockpiler said it had resumed buying USA soybeans, and Beijing announced it would suspend extra tariffs added to US-made cars and auto parts starting January 1.

China rejects economic espionage accusations
Some countries, including the United Kingdom , have also made slanderous remarks against China on the issue of cyber security . Two men belonging to a hacking group affiliated with China's main intelligence service, have been charged by U.S. authorities.

China's customs administration announced Friday it had approved United States rice imports, a move that comes during a 90-day tariff truce between the two countries which are engaged in a bruising trade war. China wants the U.S.to remove the punitive tariffs that have been imposed and not add new ones, but suspects the USA will ask for more before it agrees to do that, the people said. Beijing has agreed to resume buying American soybeans and to at least temporarily lower retaliatory tariffs on US autos.

"Even as the U.S. side is in the Christmas holiday period, China and United States economic and trade teams have been in close communication, and the consultations are progressing in an orderly manner as scheduled", Mr Gao said, when asked about progress on trade negotiations.

A worker places U.S. and China flags near the Forbidden City ahead of a visit by U.S. President Donald Trump to Beijing, in Beijing, China November 8, 2017.

In response to the United States effort, China started importing US soybeans for the first time in six months.

The US Trade Representative's office recently changed the scheduled date of a tariff rate rise to 25 per cent from 10 per cent on $200 billion worth of Chinese goods to 0501 GMT on March 2, 2019, from March 1 as both nations pursue trade talks.

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