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Time is Running as US-Chinese Trade Negotiators Meet

BEIJING – Time is running out for an agreement ending a trade war that is ruining global stock markets, slowing the Chinese economy, and damaging the sales of US companies like Apple, US and Chinese negotiators meeting in Beijing – the first opportunity in months for a break, Sydney Morning said Monday.
With a truce of 90 days in the escalation of commercial tariffs due to end on March 1, Beijing feels that time is running out, ahead of the Chinese New Year holiday in February.
Trade talks between the United States and China are expected to end on March 01, 2019, failing which new tariffs will be imposed, said US Trade Representative Robert Lighthizer.
Hurry up, this is not a discussion for general principles but for concrete measures, said Shi Yinhong, professor of international relations at Renmin University and adviser to the State Council of China.
Previous high-level trade delegations in Beijing and Washington brought together prominent Chinese hawks from Trump’s restricted circle and ended in acrimony last year.
This time, under the leadership of US Trade Representative Jeffrey Gerrish, US lower-ranking officials will try to gauge progress since Xi and Trump agreed on the tariff break.
At a meeting in December, Xi allegedly proposed to China to import 1.2 billion US Dollars of additional US goods to correct the trade imbalance that Trump was complaining about.
Representatives from agriculture, energy and finance are part of the US delegation, which means they will likely evaluate which US agricultural, energy and financial products would be included in such an agreement. LNG and beef – US products competing with Australian exports to China – are likely to be on the table.
But the White House’s trade complaints against China have spread to an attack on government policies to promote China’s tech industries. Washington has also criticized China’s support for state-owned enterprises, which the United States has attacked in its proposals to change the rules of the World Trade Organization.
Shi said state enterprises and industrial policy were the “most difficult” areas for which China had to make concessions.
Trump said Sunday in Washington “I think China wants to solve it, their economy is not doing well … I think it makes them very good at negotiating.”
Shi further added that it is not only China’s economic difficulties, but also a serious deterioration of the US financial markets that prompted Xi and Trump to resolve the dispute.
Negotiations today are very necessary and professional discussions between the two parties to seek a basic agreement, which would cover not only China’s basic industrial policy and economic structure, but also much broader access to Chinese markets for US goods and services, he said
On the other hand, he said, If the United States tried to push for a timetable to implement structural reform, it would probably be resisted.
“The best outcome would be for both sides to dismantle high tariffs,” he said.
In recent weeks, China has strengthened the enforcement of intellectual property protection and has drafted a law to stop forced technology transfers, areas in which the United States has made requests.
(Sahar News Monitoring Desk)

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