United States making 'great strides' in China trade talks

United States making 'great strides' in China trade talks

United States making 'great strides' in China trade talks

The two sides said they made progress on trade talks, which concluded on Friday in Beijing that Washington called "candid and constructive", while Chinese state news agency reported the two countries discussed "relevant agreement documents". China has made overtures in its talks with the USA that precedes its earlier mandate as the two sides try and overcome problemsin their proposed trade wars inclusive of forced technology transfers, US officials said on Wednesday.

A Chinese delegation led by Vice Premier Liu He will head to Washington next week for another round of talks.

Trump's economic policy adviser Larry Kudlow and Chinese Commerce Ministry spokesperson Gao Feng indicated that the negotiations were unlikely to be finalized in Washington next week.

Mr Kudlow on Thursday said the United States may remove some of the tariffs on Chinese goods, but not all.

Expressing a true-blue optimism over an affirmative outcome on trade talks sooner than anticipated, the official said, "If you looked at the texts a month ago compared to today, we have moved forward in all areas".

Chinese and USA negotiators have wrapped up trade...

USA insistence on keeping the first tranche of 25 percent tariffs on United States dollars 50 billion worth of Chinese imports could be a sticking point for a deal, analysts say.

U.S. Senate Finance Committee Chairman Chuck Grassley told Reuters in Malvern, Iowa, that he has been told the Trump administration is planning to complete a deal with China by the end of April.

"We have to see what the track record is and we're not going to give up our leverage", said Kudlow.

It is hard to predict if China will accept a deal leaving some tariffs in place, said economist Cui Fan of the University of International Business and Economics in Beijing.

There remains scepticism that any deal can permanently resolve U.S. "The trade issue is not going to be put to bed".

Trump's demands include an end to Beijing practices that Washington says result in systematic theft of USA intellectual property and the forced transfer of American technology to Chinese companies.

US companies say they are often pressured into handing over technological know-how to Chinese joint venture partners, local officials or regulators as a condition for doing business in China.

The U.S. government says technology is often subsequently transferred to, and used by, Chinese competitors.

US stocks ended the final trading day of the first quarter on a strong note on Friday and the S&P 500 posted its best quarterly gain since 2009, boosted by optimism over the latest round of trade talks between the United States and China.

This story has not been edited by Firstpost staff and is generated by auto-feed.

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