CHINA DRAWS UP LIST OF CONCESSIONS
Report can help deliver ‘win-win’ trade ties with United States
BEIJING to a 117-page document released by the Ministry of Commerce yesterday.
The report also recognises the Trump administration’s grievances with China and globalisation, urging “balanced development” of ties from now on.
A deal earlier this month to promote Chinese access for US natural gas, financial services and beef was hailed as an “early harvest” in a 100-day review of the bilateral trade relationship — characterised by a 2016 US deficit of US$347 billion (RM1.49 trillion) — that’s due to wrap up in July.
“China would like to further increase imports of agricultural products such as soyabeans and cotton from the US and speed up negotiations with the US on terms regarding traceability and inspection and quarantine for US beef to enter China, which will benefit six million American farmers,” said the report.
“China will increase imports of advanced manufactured goods such as aircraft, integrated circuits and machine tools.”
“The report is very thorough and I think the main purpose is to enhance communication and reduce confrontation,” said Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics, here. Bloomberg
China is keen to increase its imports of agricultural products and speed up talks on terms regarding traceability and inspection and quarantine for US beef to enter the Asian country.