China-US trade negotiation puts "foundations" in the face of a resolution

China-US trade negotiation puts "foundations" in the face of a resolution



The negotiations to end the "trade war" between China and the United States that was held this week in Beijing "improved mutual understanding and laid the foundations to address each other's concerns," the Chinese Ministry of Commerce said on Tuesday.

In a statement posted on its website, the Ministry states that the negotiating teams of both countries, which met Monday through Wednesday in the Chinese capital, "have actively implemented" the consensus reached on December 1 between the president from China, Xi Jinping, and the United States, Donald Trump.

Likewise, the emissaries "carried out exhaustive, detailed and in-depth dialogues on commercial and structural problems of mutual interest".

The brief document states that "both parties have agreed to continue in close contact."

The Ministry did not clarify whether concrete agreements were reached or whether more information will be published on the negotiations.

For now, on the progress achieved, it is only known that Trump wrote the day before yesterday in his Twitter account that the negotiations were "going very well", a message repeated yesterday by the US Undersecretary of Commerce and Foreign Affairs, Ted McKinney: "The Conversations have gone well. "

This was the first face-to-face meeting between representatives of both countries since Xi and Trump agreed on December 1 a 90-day truce, which means that the deadline to close a definitive commercial pact expires on March 1.

Although initially the meeting was scheduled for days 7 and 8, negotiations continued on Tuesday until late at night and both parties decided to extend them one more day.

The US delegation, headed by Deputy Foreign Trade Representative Jeffrey Gerrish, also had members from other departments such as Energy, Agriculture or Treasury.

For its part, the Chinese delegation was headed by Vice Minister of Commerce, Wang Shouwen, although Deputy Prime Minister Liu He, one of Xi's leading economic advisors, participated in one of the meetings held on Monday, confirmed Lu.

Since the truce between Beijing and Washington on July 1, China has adopted several measures of goodwill, such as the lowering of tariffs on vehicles imported from the US, the resumption of the purchase of soy from that country or the presentation of a draft law to prohibit the forced transfer of technology.

For its part, Trump temporarily suspended the increase of 10% to 25% of tariffs on Chinese products valued at 200,000 million dollars, although he warned that he would go ahead with his plan if a trade agreement is not closed before the expiration of the cited period of 90 days.

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