US-China trade deal must involve compromise: State media

10-Jan-2019 Intellasia | CNBC | 6:00 AM Print This Post

* Although China is keen to put an end to the trade war, it will not make any “unreasonable concessions” and compromise must be made on both sides, the China Daily said on Wednesday.

* Trump and other US officials have said the talks were going well and there have been signs of progress.

* However, people familiar with the talks said the world’s two largest economies were further apart on Chinese structural reforms that the Trump administration is demanding.

China is keen to put an end to its trade dispute with the United States but will not make any “unreasonable concessions” and any agreement must involve compromise on both sides, state newspaper the China Daily said on Wednesday.

Chinese President Xi Jinping and U.S. President Donald Trump during a meeting outside the Great Hall of the People in Beijing.(Getty)

Chinese President Xi Jinping and U.S. President Donald Trump during a meeting outside the Great Hall of the People in Beijing.(Getty)

US and Chinese officials are conducting talks in Beijing, their first since US President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce in a trade war that has roiled global financial markets.

The trade discussions, which began in Monday, are continuing into Wednesday for an unscheduled third day.

The China Daily said in an editorial Beijing’s stance remains firm that the dispute harms both countries and disrupts the international trade order and supply chains.

“However, it has also made it clear that it will not seek a solution to the trade frictions by making unreasonable concessions, and any agreement has to involve give and take from both sides,” it said.

Trump and other US officials have said the talks were going well and there have been 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 talks said the world’s two largest economies 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 to hold Beijing to its promises.

https://www.cnbc.com/2019/01/09/us-china-trade-agreement-must-involve-compromise-china-daily-says.html

 


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