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  HOME | Business & Economy (Click here for more)

China Confirms Progress in Trade Agreement Negotiations with US

SHANGHAI – The Chinese government confirmed on Saturday the progress of trade agreement negotiations with the United States and revealed that technical consultations on a part of the agreement’s text had been completed.

Vice Premier Liu He, China’s top representative at the negotiating table, held a telephone conversation with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Friday night.

“In the phone talks, the two sides agreed to appropriately address each other’s core concerns, and confirmed that the technical consultations on part of the text of the agreement have been basically completed,” state-owned Xinhua news agency said.

The two sides have reached consensus on the US importing Chinese-made cooked poultry meat, the equivalence of catfish product supervision systems, China’s lifting of the ban on US poultry exports, as well as on applying the public health information system of meat products.

Chinese Trade Minister Zhong Shan, People’s Bank of China Governor Yi Gang, and National Development and Reform Commission’s Vice Chairman Ning Jizhe were also a part of the talks, which are expected to continue soon.

Following this call, US President Donald Trump, in statements from the White House, remarked that negotiations were going very well, and “a lot of good things are happening with China. They want to make a deal very badly.”

These talks are aimed at putting the final touches to an agreement that Trump and his Chinese counterpart, Xi Jinping, could sign during the Asia-Pacific Economic Cooperation (APEC) summit, to be held in the Chilean capital city of Santiago on Nov. 16-17.

Earlier this month, Trump announced a partial agreement for a truce in his trade war with China, which has been going on for nearly a year and a half, and set aside his plans to raise tariffs on imports from the Asian country.

For its part, China committed to increase its purchases of US agricultural products to between $40 billion and $50 billion.

 

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