Ul­ti­mate goal of Sino-US trade talks to re­move ad­di­tional du­ties

Shanghai Daily - - TOP NEWS - (Xin­hua)

CHINA’S Min­istry of Com­merce said yes­ter­day that the ul­ti­mate goal of Sino-US trade talks was to re­move all ad­di­tional tar­iffs, adding that China will hold con­sul­ta­tion with the United States on is­sues of com­mon con­cern and strive to reach con­sen­sus.

China and the US have highly over­lap­ping in­ter­ests in eco­nomic and trade is­sues and share com­ple­men­tar­ity in struc­tural de­mands, the min­istry’s spokesman Gao Feng told a press brief­ing.

The two sides have been com­mu­ni­cat­ing and co­op­er­at­ing smoothly, and China was con­fi­dent in strik­ing a deal with the US within the next 90 days, Gao said.

China will im­me­di­ately im­ple­ment the con­sen­sus that the two sides have al­ready reached, start­ing with agri­cul­tural prod­ucts, en­ergy and au­to­mo­biles, Gao said.

“In the next 90 days, we will fol­low a clear timetable and roadmap to hold con­sul­ta­tion on is­sues of in­tel­lec­tual prop­erty rights pro­tec­tion, tech­no­log­i­cal co­op­er­a­tion, mar­ket ac­cess and trade bal­ance that con­form to the in­ter­ests and de­mands of both sides, and the two sides should strive to reach con­sen­sus,” Gao said.

“China has been ex­pand­ing im­ports over the years in or­der to meet the Chi­nese peo­ple’s de­mand for bet­ter lives and high-qual­ity devel­op­ment,” he said, adding that after reach­ing pre­lim­i­nary con­sen­sus on trade is­sues of farm pro­duce and en­ergy dur­ing the pre­vi­ous con­sul­ta­tions, the two sides will con­tinue to hold con­sul­ta­tion on these is­sues plus man­u­fac­tured goods and ser­vice trade.

The two coun­tries, as well as com­pa­nies from both sides, share com­mon in­ter­ests on in­tel­lec­tual prop­erty rights pro­tec­tion, fair com­pe­ti­tion and broad­en­ing mar­ket ac­cess, which are all highly com­pat­i­ble with China’s re­form and open­ing-up drive.

China will hold con­sul­ta­tion with the US on these is­sues on the ba­sis of mu­tual re­spect, equal­ity and mu­tual ben­e­fits, to cre­ate a bet­ter busi­ness en­vi­ron­ment for en­ter­prises from both coun­tries.

Chi­nese Pres­i­dent Xi Jin­ping and his US coun­ter­part Don­ald Trump re­cently held a meet­ing in Buenos Aires, reach­ing im­por­tant con­sen­sus and agree­ing not to im­pose new ad­di­tional tar­iffs.

The com­merce min­istry also said China’s for­eign trade growth in 2019 will have strong un­der­pin­ning de­spite ex­ter­nal chal­lenges.

As the coun­try con­tin­ues to push for­ward the sup­ply-side struc­tural re­form, the struc­ture of China’s ex­ports and im­ports will be fur­ther op­ti­mized, while growth po­ten­tial of im­ports will be boosted, Gao said.

He said that al­though ex­ter­nal un­cer­tain­ties such as pro­tec­tion­ism and uni­lat­er­al­ism will add chal­lenges to trade growth next year, the trend of eco­nomic glob­al­iza­tion re­mains un­changed, and de­mand from ma­jor mar­kets con­tin­ues to ex­pand.

China’s to­tal im­ports and ex­ports be­tween Jan­uary and the mid­dle of Novem­ber this year sur­passed the whole trade vol­ume of 2017, an in­crease of nearly 15 per­cent from a year ear­lier, ac­cord­ing to cus­toms data.

Trade data from the Jan­uaryOc­to­ber pe­riod re­vealed that the coun­try’s trade mar­ket di­ver­si­fi­ca­tion had ac­cel­er­ated.

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