Big differences remain, but certain deals reached in China-US trade talks

Reuters
Delhi, India Published: May 05, 2018, 11:57 AM(IST)

Flags of the US and China (representative image). Photograph:( Reuters )

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Both sides recognized that given that considerable differences still exist on some issues, continued hard work is required for more progress: Chinese media

Big differences remain between China and the United States although the two sides managed to reach certain deals on some of their trade issues during the two-day bilateral trade talks in Beijing on Thursday and Friday.

No specific results of the talks have been disclosed, but Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, attended the talks with the US delegation led by President Donald Trump's Special Envoy and Treasury Secretary Steven Mnuchin, on economic and trade issues of common concern.

It's still unknown what deals have been reached, but both Chinese and US officials have agreed to remain in contact.

A report from Chinese news agency Xinhua on Friday said that "both sides recognized that given that considerable differences still exist on some issues, continued hard work is required for more progress."

As the US team heads back to Washington, US President Donald Trump sounded optimistic, saying: "I have great respect for President Xi. That's why we're being so nice. And we have a great relationship. But we have to bring fairness into trade between the US and China and we will do it."

The White House issued a statement, saying the talks were constructive, though the two sides remained far apart.

The US delegation affirmed that fair trade will lead to faster growth for the Chinese, United States, and world economies.

During the talks, Chinese negotiators brought up the recent case of telecommunication tech company ZTE. The US Commerce Department banned ZTE from buying American-made parts for seven years - a ruling that could destroy the company. US negotiators said they would report China's stance to Trump. Cases like ZTE and others are seen as tests of whether Washington is willing to make concessions as well as demands, according to some observers.

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