United States officials head to China for high-level trade talks next week - Beijing

Geraldine Edwards
January 8, 2019

That agreement saw China commit to renewed purchases of USA agricultural goods like soybeans, in return for the delay of a fresh swathe of tariffs Washington was set to impose on Chinese goods. Trump tweeted that the call was progressing, however it's not been apparent if the resolution would be solved.

He campaigned on a pledge to make trade fairer for the U.S. and to help American manufacturers. But they reject pressure to scrap technology initiatives they see as a path to prosperity and global influence.

"Clearly both sides are feeling economic stress, but both have high ambitions". For the 2018 full year, Apple shares fell 7 percent, though they are up about 24 percent since Trump took office in January 2017. Auto sales have dropped for the first time since 1990. Some U.S. demands would require structural reform that may be unpalatable for Chinese leaders.

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Trump initiated the trade war because of complaints over unfair Chinese trade practices - concerns shared by the, Japan and others.

United States officials will travel to Beijing for talks on Monday and Tuesday next week, with China's Ministry of Commerce saying it hopes the talks will be "positive and constructive". "I think there are a heck of a lot of USA companies that have a lot of sales in China that are basically going to be watching their earnings be downgraded next year until you know we get a deal with China". The lower level of these discussions signals that the two sides are still far apart on various issues.

USTR said the U.S. delegation would also include under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.

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The dispute has rattled companies and financial markets that worry it will drag on global economic growth, already showing signs of declining.

Chinese officials are unhappy with United States curbs on exports of "dual use" technology with possible military applications.

The new declaration was made by China after President Trump tweeted about "big progress" being made during telecom with President Xi Jinping of China during the weekend. But that was due partly to exporters rushing to beat new duties - a trend that is fading. While USA imposed tariffs worth $250 billion on China since July this year, China has imposed tariffs worth $110 billion on goods imported from USA.

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Despite the December truce, "most firms expect trade war to escalate", the report said.

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