China ‘still open to partial deal’
BEIJING: China is still open to agreeing a partial trade deal with the United States, according to an official with direct knowledge of the talks, signaling that Beijing is focused on limiting the damage to the world’s secondlargest economy.
“Negotiators heading to Washington for talks starting Thursday aren’t optimistic about securing a broad agreement that would end the trade war between the two nations for good,’’ said the official, who asked not to be identified as the discussions are private.
“But China will accept a limited deal as long as no more tariffs are imposed by President Donald Trump, including two rounds of higher duties set to take effect this month and in December,’’ the official said.
“In return, Beijing will offer noncore concessions like purchases of agricultural products without giving in on major sticking points,’’ the official said, without offering further details.
Separately, the Financial Times reported yesterday that China would offer to increase purchases of American agricultural products by 50% to $30 billion annually.
Citing people briefed on the talks, it said China would also change nontariff barriers that have hindered imports of US beef, pork and lamb.
“The Chinese are ready to de-escalate,” the FT cited one of the sources as saying.
The Ministry of Commerce didn’t immediately reply to faxed questions.
The latest round of trade talks come just days after the White House announced the blacklisting of Chinese technology firms over their alleged role in oppression in the far west region of Xinjiang, as well as visa bans on officials linked to the mass detention of Muslims.
At the same time a fight over free speech between China and the National Basketball Association, triggered by a tweet backing Hong Kong’s protesters, showed the widening gap between the countries.
“I think there might be big breakthrough in the coming trade talks as both sides have expressed good gestures and positive signals,” said Huo Jianguo, a former Chinese Commerce Ministry official who is now vice chairman of the China Society For World Trade Organization Studies.
“The recent blacklist and sanctions from the US is just another usual tactic to showcase that it has multiple tools in the trade negotiations in line with Trump’s maximum pressure policy. It is hardly surprising to us and we shouldn’t take it too seriously,” he added.
Bloomberg News reported last month that the Trump administration has discussed offering a limited deal that would delay or even roll back some US tariffs for the first time in exchange for Chinese commitments on intellectual property and agricultural purchases.