Fri. Aug 23rd, 2019

The third round of trade negotiations between China and the US begins

Arranca la tercera ronda de negociaciones comerciales entre China y EE.UU

The third round of negotiations between China Y U.S to end the trade war began Thursday in Beijing, with some optimism. Both teams will try to bring positions closer before the deadline, next March 1, to avoid a resurgence of the tariff dispute. It is said that the American president, Donald Trump, is considering delaying the deadline to impose higher tariffs on Chinese products at 60 days, another indication that Washington wants to reach an agreement and end the trade war.

The official Chinese news agency Xinhua confirmed the start of "a new round of high-level economic and trade consultations on Thursday morning" in a "ceremony" chaired by the Chinese vice premier Liu He on the Chinese side and by the Foreign Trade representative, Robert Lighthizer, and the Secretary of the Treasury, Steven Mnuchin, by the American. The brief note just adds that the meetings will be extended until tomorrow, data that was already known.

Several preparation meetings were held between Monday and Wednesday between members of the delegations.

Analysts believe that both parties are not likely to reach a definitive agreement

Analysts believe that both parties are not likely to reach a final agreement in this third round due to Washington's demands.

The main problems posed by the US government are the protection of intellectual property, the forced transfer of technology, subsidies from Beijing to local companies that generate inequalities with foreign companies, cyber thefts, exchange controls or market access. of the Asian giant.

However, in a previous dispatch, Xinhua said that the latest round of negotiations - held in Washington at the end of January - produced "significant progress".

Although Monday the undersecretary of International Affairs of the Treasury and US nominee to preside over the World Bank, David Malpass, answered "no" when asked by journalists about whether the deadline to reach an agreement would be extended, the next day the president of his country , Donald Trump, opened the door to this possibility.

"If we reach a point where we are close to a real agreement and we can achieve it, I see it possible to let it pass (the deadline) for a little longer. But in general I'm not inclined "to do it, said the North American leader.

Trump and his Chinese counterpart, Xi Jinping, agreed a 90-day commercial truce on December 1, which meant the provisional suspension of the increase of 10% to 25% of US tariffs on Chinese products valued at 200,000 million dollars .

It is speculated that Trump and Xi could meet in the coming weeks

Although the US leader ruled out meeting with Xi before March 1 if there is no definitive agreement, the Hong Kong newspaper South China Morning Post He speculates on the possibility that both leaders will meet on the island of Hainan (south of China), in Beijing or in Palm Beach (Florida) in the coming weeks.

That same medium also announced that the Chinese leader will meet Friday with Lighthizer and Mnuchin in what he describes as a "sign of goodwill".

Since December 1, Beijing has adopted goodwill measures such as lowering tariffs on vehicles imported from the US, resumption of the purchase of soy from that country or the presentation of a bill to prohibit the transfer forced technology.

Since December 1, Beijing has adopted goodwill measures

Source link