'Relatively big' issues remain on U.S.-China-trade, Chinese state media says

- Mei 04, 2018

A Chinese state-run news agency reported Friday that certain disagreements in economic negotiations between the U.S. and China remain “relatively big” even as progress is made on other fronts, according to a Reuters report.

The Xinhua news agency said the U.S. and Chinese delegations had agreed to resolve trade disputes via dialogue, Reuters reported.

"Both sides realized that there are some relatively big differences on some issues. And more work needs to be done to achieve more progress," Xinhua stated.

A delegation of U.S. officials, led by Treasury Secretary Steven Mnuchin, left China Friday after multiple days of talks aimed at President Donald Trump’s priority of resetting the trade relationship between the two nations onto more favorable terms for Washington. The president has complained often about the significant trade deficit the U.S. runs with China and has accused Beijing of unfair trade practices, including allowing intellectual property theft.

“We’re having very good conversations,” Mnuchin told reporters Friday ahead of talks with Chinese officials, according to the AP.

Trump has imposed tariffs on Chinese steel and aluminum, which Beijing responded to last month with its own duties on 128 U.S. products worth roughly the same amount. But while Trump has threatened a second set of tariffs on up to $150 billion in Chinese goods, as punishment for Beijing's intellectual property practices, those have yet to take effect.

While China has thus far been the main target of Trump’s trade-related ire, it is far from the only one. The president has complained about unfair trade practices on the part of the European Union, Canada and Mexico and has demanded a renegotiation of NAFTA under threat that he will pull the U.S. out of the longstanding trade agreement if new terms cannot be reached. He has also imposed tariffs on certain South Korean products and threatened to use the renegotiation of a U.S.-South Korea trade agreement as leverage amid negotiations with North Korea.

Megan Cassella contributed to this report.


 

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