MoneyNewsPoliticsWorld

China wants further negotiations before signing trade agreement with US

CHINA (OBSERVATORY NEWS) — China wants to hold further talks with the United States this month to work out the details of the “first phase” of the trade deal before Chinese President Xi Jinping signs the deal. It is reported by Bloomberg, citing sources familiar with the situation.

Beijing may send a delegation led by Vice Premier of the State Council of the PRC Liu He to prepare the final version of the agreement, which can be signed by the leaders of the two countries at the APEC summit in Chile in November, one source said.

According to another source, China also wants the US side to abandon the $ 160 billion increase in Chinese goods duties planned for December.

Last week, trade negotiations between the US and China took place in Washington, according to which Trump announced “a very significant first transaction phase.”

As part of this deal, China is committed to resolving the intellectual property problems Washington complained about and buying US $ 40-50 billion worth of US agricultural products.

Trump agreed not to carry out a tax increase planned for Tuesday. However, US Trade Representative Robert Lighthizer said that the president has not decided on duties on Chinese imports, which are due to take effect in December.

While Trump described the outcome of the talks as successful, the Chinese state media only reported that “substantial progress” has been made.

Online:

This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

OBSERVATORY — Breaking news source, real-time coverage of the world’s events, life, politics, money, business, finance, economy, markets, war and conflict zones.

Contact us: [email protected]

Stay connected with Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.

Support The OBSERVATORY from as little as $1 – it only takes a minute. Thank you.

We are OBSERVATORY — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes OBSERVATORY possible came from you.