China Trade Talks Extend to Wednesday, Trump Sees Progress

U.S. President Donald Trump speaks to the media as he departs for Camp David from the White House in Washington

China Trade Talks Extend to Wednesday, Trump Sees Progress

-China trade talks ended in Beijing today, an extension by a day of the two-day sessions planned to follow up on the mandate from the December 1, 2018 talks between President Donald Trump and President Xi Jinping, to reach a resolution of trade disputes by March 1, 2019.

The Chinese commerce ministry merely said the talks had been "detailed and extensive" and that a foundation had been laid for resolution of each other's concerns.

Both sides have agreed to continuously keep in close contact.

The discussions during the past two days "went well", according to Steven Winberg, an Energy Department official who spoke to reporters in Beijing.

President Trump took to Twitter Tuesday to give his take on current negotiations, declaring talks with China are going very well.

Few other details were made public about the amount of progress made during the talks, but Chinese foreign ministry spokesman Lu Kang said that the one-day extension beyond the original schedule was an indication that both sides were serious in making negotiations.

'I think that China is actually much easier to deal with than the opposition party, ' he said.

Negotiations between the US and China in Beijing this week on trade were "extensive, in-depth and detailed", and laid the foundation for the resolution of issues of mutual concern, the Ministry of Commerce said in a statement Thursday.

Citing unidentified Chinese officials involved in the trade talks, Bloomberg reported January 9 that there were disagreements between the two delegations on structural issues, which they hope will be addressed when more senior negotiators meet for talks.

U.S. -CHINA TALKS: A U.S. delegation, led by Deputy U.S. Trade Representative Jeffrey Gerrish, will sit down for two days of talks with Chinese officials starting Monday.

The Chinese government is reported to be releasing a statement on the talks tomorrow.

Chinese officials have suggested Beijing might alter its industrial plans but reject pressure to abandon what they consider a path to prosperity and global influence.

The US Trade Representative office said Wednesday that the talks focused on "ways to achieve fairness, reciprocity, and balance in trade relations", as well as the need for "ongoing verification and effective enforcement" of any agreement.

"China's position in the China-US trade friction and its solutions to the friction is open, it's transparent", Lu said at a regular press briefing.

Optimistic investors are placing their bets on the stock market once again, boosted by the United States' and China's latest attempt to resolve their trade war.

China and the United States have in the past repeatedly traded barbs over what Washington says is Beijing's militarization of the South China Sea by building military installations on artificial islands and reefs. US officials have repeatedly accused China of not fulfilling agreements, with Ross saying on Monday that "the real issue is what are the enforcement mechanisms, what are the punishments if people don't do what they were supposed to do?"

USA companies also want action on Chinese policies they complain improperly favor local companies.

Chinese exports to the USA have held up despite tariff increases, partly due to exporters rushing to fill orders before more increases hit.

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