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.
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