Beijing Says Trade Talks With US Created Foundation To Resolve Trade War Conflicts

Posted In: News Date:Jan 10th, 2019

China's commerce ministry said the trade talks held this week with the United States were "extensive, deep and thorough" on Wednesday, and provided a "foundation for the resolution of each others' concerns," according to Reuters.

Washington and Beijing both agreed to remain in close contact, according to a brief statement from the commerce ministry posted on its website.

The trade talks between the two sides ended on Wednesday after three days and were the first face-to-face meeting between negotiators since President Donald Trump and his Chinese counterpart Xi Jinping met along the sidelines of the G20 in Buenos Aires in December.

Trump and Xi agreed to a 90-day truce in the trade war which throughout 2018 affected hundreds of billions of dollars of goods.

Washington's demands for China included changes to policies on intellectual property protection, technology transfers, industrial subsidies, and other non-tariff barriers to trade.

But nearly halfway through the truce period, there are minimal details being released about the progress made in the negotiations.

The U.S. Trade Representative's office released a statement on Wednesday which said the two countries discussed “ways to achieve fairness, reciprocity and balance in trade relations”.