US-China trade talks end on positive note
beijing — Chinese and US teams ended trade talks in Beijing on Wednesday that lasted longer than expected and officials said details will be released soon, raising hopes an allout trade war that could badly disrupt the global economy can be avoided.
The talks were extended into an unscheduled third day, showing both sides were “serious”, China’s foreign ministry said.
Ted McKinney, US under secretary of agriculture for trade and foreign agricultural affairs, said the US trade delegation was due to return to the United States later on Wednesday after a “good few days”. “I think they went just fine,” McKinney said of the talks.
“It’s been a good one for us,” he told reporters at the delegation’s hotel, without elaborating.
Speaking at a daily news briefing, Chinese foreign ministry spokesman Lu Kang confirmed both sides had agreed to extend the talks beyond Monday and Tuesday as originally scheduled.
Asked if that meant the talks had been difficult, Lu said: “I can only say that extending the consultations shows that the two sides were indeed very serious in conducting the consultations.”
This week’s meetings are the first face-to-face talks since US President Donald Trump and Chinese President Xi Jinping agreed in December to a 90-day truce in a trade war that has roiled global financial markets. The editor of a state-run Chinese newspaper said in a social media post he expected China and the United States to release statements early on Thursday.
“From what I know, the trade talks, though arduous, were con- ducted in a pleasant and candid atmosphere. Neither side has made a briefing, because the US delegation is on the plane now,” wrote Hu Xijin, editor of the Global Times, published by the ruling Communist Party’s official People’s Daily.
“The two sides will release messages at the same time on Thursday morning Beijing time,” Hu said.
The extra day of talks came amid signs of progress on issues including purchases of US farm and energy commodities and increased access to China’s markets. However, people familiar with the negotiations told Reuters on Tuesday the two sides were further apart on Chinese structural reforms that the Trump administration is demanding in order to stop alleged theft and forced transfer of US technology, and on how China will be held to its promises.
If no deal is reached by March 2, Trump has said he will proceed with raising tariffs to 25 per cent from 10 per cent on $200 billion worth of Chinese imports, at a time when China’s economy is slowing significantly. Beijing has retaliated in turn to US tariffs.
The US team is led by Deputy US Trade Representative Jeffrey Gerrish, and includes under secretaries from the US Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from the White House.
Extending the consultations shows that the two sides were indeed very serious in conducting the consultations Lu Kang, Chinese foreign ministry spokesperson