On Wednesday, China and the United States held “productive” trade talks in Beijing. Next week, discussions will continue in Washington regarding the two trying to end their trade war as stated by U.S. Treasury Secretary Steven Mnuchin.
Before Chinese Vice Premier Liu He goes to Washington, Mnuchin, along with U.S. Trade Representative Robert Lighthizer, held a day of discussions. To end the war, negotiations for another round of talks will be done next week.
With no details given, Mnuchin wrote on his Twitter account, “Ambassador Lighthizer and I just concluded productive meetings with China’s Vice Premier Liu He. We will continue our talks in Washington, D.C. next week.”
At a state guest house in Beijing, before cameras at the end of their talks, three men appeared chatting amiably amongst themselves, but did not speak to reporters.
On Tuesday, Liu had entertained his U.S. guests after they arrived in the Chinese capital.
In a news report on Wednesday, when asked if he had met with Liu, Mnuchin stated, “We did. We had a nice working dinner. Thank you,” without elaborating details.
To help close a conflict marked by tit-for-tat tariffs that have cost both sides billions of dollars, disrupted supply chains and roiled financial markets, intellectual property and forced technology transfer are two of the cited progress on issues in Beijing and Washington.
But then again, an enforcement mechanism is being made privately by U.S. for a deal and timelines for lifting tariffs are sticking points.
The view of the enforcement mechanism was acknowledged by Chinese officials as crucial. They say it cannot restrain China only. They must work two ways.
China has continually assuring its reforms and making it easier for foreign companies to operate in the country to further open up its market to U.S. firms.
The United States has been pressing China.
On Wednesday, the government will further open up its banking and insurance sectors as stated by China’s top banking and insurance regulator.
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