US Trade Representative (USTR), Catherine’s mother held talks with Chinese Deputy Prime Minister Liu Hao. On Friday night, Washington will discuss Chinese trade practices that it deems unreasonable and “build” a “responsible” relationship.
This is the second meeting between the two countries’ top trade negotiators since bilateral relations were severely damaged during the tenure of former US President Donald Trump.
Katherine Toy and Liu had been in contact with him since May.
Friday talk “a Opportunity for the US and China to build a business relationship that is managed responsiblyBecause it affects not only the population of our countries, but the whole world, “said an unnamed USTR official.
“Both sides had practical, transparent and constructive exchanges,” the official Xinhua news agency reported. “The mother detailed US concerns about China’s policies and practices that are detrimental to American workers, farmers and businesses.
Joe Biden says management Large state subsidies from China For domestic companies, intellectual property theft and other factors create major inequalities in trade.
These practices have widened the US trade deficit with China. In 2019, the year before the epidemic, it was only $ 344 billion worth of goods, according to the U.S. Department of Commerce.
It reached $ 218.9 billion in the first eight months of this year, according to data released on Tuesday.
During the meeting, China’s progress in implementing the “Phase 1” trade agreement signed with the Trump administration on January 1, 2020 was also “evaluated”.
Katherine Toy and Liu Hee “both sides agreed to consult on some of the pending issues.“Said a statement.
Unlike Trump, who brought heavy artillery against Beijing, he introduced penalties on hundreds of billions of dollars in Chinese goods, saying earlier this week that the Biden administration had no intention of “causing trade tensions” with the Asian company.
However, he noted Washington wanted to implement the promises made in the agreement signed with Trump.
In Phase 1 of the bilateral agreement, China promised to buy an additional $ 200 billion worth of US goods over two years, including agriculture, energy and manufacturing.
The aim was to reduce trade inequality between the two countries. Some points of the contract were not reached to some extent due to the epidemic.
With regard to US $ 370,000 million in fees, Tai started a process this week to exclude certain products.
Rather than a gesture of goodwill towards Beijing, he explained that it was a matter of “case-by-case basis” exemption for US companies without an alternative source.
Beijing “held talks on raising tariffs and repealing additional sanctions,” Xinhua said on Saturday. Small and medium enterprises have been warning for months that these tariffs threaten their livelihoods.
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