China and the United States have agreed to hold more trade talks in Beijing, Vic...
BEIJING/WASHINGTON - China and the United States have agreed to hold more trade talks in Beijing, Vice Premier Liu He said as U.S. President Donald Trump ordered his trade chief to begin the process of imposing tariffs on all remaining imports from China.
But Liu’s optimism was tempered by U.S. Treasury Secretary Steven Mnuchin, who told CNBC on Friday that there were no further talks with China planned “as of now.” On Friday, Trump issued orders for the tariff increase, saying China “broke the deal” by reneging on earlier commitments made during months of negotiations.
He added that talks would continue in Beijing, but gave no details. But underscoring a lack of progress in the talks, Trump ordered a further escalation of tariffs. The second is about procurement, on which an initial consensus was reached between the leaders of the two countries in Argentina late last year. The two sides now have differing views on the volumes, Liu said. The third is over how balanced the text of the draft agreement should be, he said.Sources told Reuters this week that China had deleted its commitments in the draft agreement that said it would change laws to resolve core complaints of the United States: theft of U.S.
“China clearly requires that the trade procurement figures should be realistic; the text must be balanced and expressed in terms that are acceptable to the Chinese people and do not undermine the sovereignty and dignity of the country,” the ruling Communist Party’s official People’s Daily newspaper said in a commentary on Saturday.Chinese Vice Premier Liu He talks with U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer as he leaves trade talks in Washington, U.S.
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