United States says China has pledged to buy U.S. as tough issues remain

US Commerce Secretary Wilbur Ross

Officials say talks are expected to deliver specific commitments to expand market access for USA in China, improve protection of intellectual property rights (IPR) and reduce the trade surplus with the U.S., but it would take time to reform state-owned firms another major source of friction. Lu said he had no details and an official statement would be issued later.

In its first reaction after the talks, the Chinese Commerce Ministry said on Thursday both sides have actively implemented the significant consensus reached by the leaders of the two countries and conducted extensive, in-depth and detailed exchanges on trade and structural issues of common concern.

"Talks with China are going very well!".

"We can confidently say that enough progress was made that the discussions will continue at a higher level", said Craig Allen, president of the U.S.

Three days of U.S.

As for structural reforms that the USA side has requested: "at first, it seems like the U.S.is being overbearing, but thinking carefully, these are actually what the deepening of "opening up reforms" needs"-referring to economic policies pushed by former Party leader Deng Xiaoping in the 1980s that introduced capitalist market forces to China".

The US imposed tariffs on more than $250bn (£195.6bn) worth of Chinese goods, with the threat of more to come.

Signals from the latest round of talks were upbeat, the Post report said. Economists say the 90-day window is too short to resolve all the conflicts between the biggest and second-biggest global economies.

The progress on trade negotiations follow a long back-and forth between the White House and Beijing. Forecasters expect American orders to slump this year.

That pledge, addressing a trade deficit in goods, was however mentioned only at the end of the statement which focused on the United States demands for structural changes to China's domestic policies. China responded by targeting U.S. goods valued at $110 billion, the BBC reported.

As the trade talks wound down, China's top economic official, Premier Li Keqiang, met with CEO Elon Musk of electric auto brand Tesla Inc.

US Dollar and China Yuan notes are seen in this picture illustration.

China claims nearly all of the strategic South China Sea and frequently lambastes the United States and its allies over naval operations near Chinese-occupied islands.

China is the largest electric vehicle market and is strongly encouraging its development.

Should China reform its regulation policies to allow more US access to its markets, USA negotiators want guarantees that they won't erase newfound openness by using government authority to block American companies.

Companies that have been disappointed by Beijing's failure or delays in carrying out commitments want an enforcement mechanism with "some kind of penalty for not doing what they promised", said Parker.

"I really believe they want to make a deal".

The US delegation, led by Deputy Trade Representative Jeffrey Gerrish, included representatives from the departments of energy, agriculture, treasury and commerce. Those include subsidies and other favors for high-tech and state-owned industry, rules on technology licensing and preferential treatment of domestic suppliers in government procurement.

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 U.S. demands that require hard structural change from China.

A statement from the Office of the U.S. Trade Representative didn't characterize the tone of the talks or say what would happen next.



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