Publicado: Vie, Enero 11, 2019
Financiera | Por Marilu Caballero

China pledges to buy 'substantial amount' of USA goods: USTR

China pledges to buy 'substantial amount' of USA goods: USTR

China has repeatedly played down complaints about intellectual property abuses, and has rejected accusations that foreign companies face forced technology transfer. On Tuesday, US President Donald Trump wrote on Twitter that the talks "are going very well".

The discussions are the first face-to-face interactions between the USA and China since both presidents met in Argentina and agreed to a temporary truce in their tit-for-tat tariff war. China aimed to buy at least 5 million tons of American soybeans as part of the truce.

Key decisions on some of the tougher issues are expected to be left for future rounds of talks, such as USA complaints that Beijing's policies force American companies to hand over technology and unfairly boost Chinese firms with subsidies. Ross told CNBC the talks were being held with appropriate-level staff and would help determine how the administration moves forward.

While less effusive, a statement released earlier by the Office of the United States Trade Representative (USTR) indicated that the talks had covered a broad range of areas on which the two sides have differed.

The United States has presented China with a long list of demands that would rewrite the terms of trade between the world's two largest economies. "This is what China has wished for, but I think the USA will wait and see", Chiu said.

But if the countries fail to reach a deal by March 2, Trump has threatened to restart the trade war, increasing tariffs on 200 billion dollars-worth of Chinese imports from ten to twenty-five percent. That includes giving specific dates for making purchases, and making assurances that Beijing won't hinder USA companies from gaining access to China's market. The USTR statement didn't say whether progress had been achieved on its main concerns. The gains for USA indexes faded slightly after President Donald Trump and Democratic leaders said Trump cut short a meeting on ending the partial shutdown of the federal government.

The results of the talks are expected be analysed at a separate meeting between U.S. trade representative Robert Lighthizer and Chinese Vice-Premier Liu He after which the two sides were expected to announce a decision.

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Everyone from the Bollywood industry had thanked and acknowledged PM for GST change and giving space to the industry to connect. The primary aim of the meet is to discuss how the entertainment industry can work towards nation building.

The U.S. team in Beijing was led by Deputy U.S. Trade Representative Jeffrey Gerrish, and included under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from the White House.

A separate geopolitical issue angered China on Monday when a US Navy guided-missile destroyer sailed near disputed islands in the South China Sea - a vast expanse claimed by Beijing.

For its part, Beijing is unhappy with USA export and investment curbs, such as controls on "dual use" technology with possible military applications.

Elsewhere, U.S. bank Morgan Stanley cut its 2019 oil price forecasts by more than 10 per cent on Wednesday, pointing to weakening economic growth expectations and rising oil supply.

"I hope too that we'll make progress on all of the other places whether China's not behaving in the way that we wish it would, whether that's their cyber activity that has had a real impact, whether that's the theft of intellectual property, which has hurt American businesses". However, the vice-ministerial talks were extended till Wednesday which China said reflected the seriousness of the negotiations.

The talks, which began on Monday (7 January), were initially meant to be held for two days but ran into a third day amid what are understood to be signs of progress on issues including purchases of United States farm and energy commodities and increased access to China's markets.

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