US and China wrap up trade talks in Beijing. What happens next?

US and Chinese negotiators wrapped up three days of trade talks in Beijing on Wednesday as they seek a way o...

Posted: Jan 10, 2019 10:45 AM
Updated: Jan 10, 2019 10:45 AM

US and Chinese negotiators wrapped up three days of trade talks in Beijing on Wednesday as they seek a way out of the damaging trade war between the world's two biggest economies.

American negotiators said in a statement Wednesday that there was a focus on discussing purchases of "a substantial amount" of agricultural, energy, manufactured goods and other products and services from the US by China but did not specify any new deals.

Business, economy and trade

International trade

Trade and development

Asia

China

Continents and regions

East Asia

Donald Trump

North America

Political Figures - US

The Americas

United States

Beijing

Economic policy

Economy and economic indicators

Government and public administration

Government bodies and offices

Politics

Trade regulation and policy

Trade wars

US federal government

White House

Officials also stressed the necessity that any trade deal with Beijing would require "ongoing verification and effective enforcement," according to a readout released by the office of the US Trade Representative.

It's unclear from the US statement how much headway negotiators made regarding US concerns over forced technology transfers and cybertheft of trade secrets for commercial purposes.

Negotiators appeared to make more progress on areas such as plans by China to step up purchases of American exports, while giving US companies greater access to its market in order to build confidence between the two sides after months of bitter confrontation.

China said in a statement from the Commerce Ministry that the trade talks "improved mutual understanding and laid the foundation for resolving issues of mutual concern."

"Actively implementing the important consensus reached by the two heads of state, both sides held broad, in-depth and detailed exchanges on trade issues of mutual concern as well as structural issues. Both sides improved mutual understanding and laid the foundation for resolving issues of mutual concern. Both sides agreed to keep in close contact," the statement said.

The meetings in Beijing were the first formal trade negotiations between the two sides since President Donald Trump and Chinese leader Xi Jinping agreed to a truce at the G20 summit in Argentina last month.

The talks were seen as a litmus test of whether a lasting deal can be reached before March 2, when the Trump administration plans to hike tariffs on $200 billion of Chinese goods from 10% to 25%. Such a move would significantly escalate the months-long trade war.

American officials said during their discussions they relayed Trump's commitment to addressing trade deficit concerns and resolving structural issues affecting trade between the two countries.

Negotiations were extended into a third day, which was interpreted as a sign discussions were moving in a positive direction.

"Talks with China are going very well!" Trump said in a tweet on Tuesday.

While the US government hadn't specified how long the talks would last, China's Commerce Ministry had previously said they would only go on for two days.

"It seems there have been no fist fights internally between the two delegations," a person familiar with the progress of the talks told CNN on Tuesday, describing them as "constructive."

China making encouraging moves

Key decisions on some of the tougher issues are expected to be left for future rounds of talks, such as US complaints that Beijing's policies force American companies to hand over technology and unfairly boost Chinese firms with subsidies.

The US delegation to Beijing this week was led by Jeff Gerrish, deputy to US Trade Representative Robert Lighthizer who is leading the negotiations for the Trump administration.

The deputy level negotiators will report back on next steps for talks, the US statement said. US officials are expected to host China's top trade negotiator, Vice Premier Liu He, in Washington later this month, a source told CNN on Monday.

One apparent breakthrough this week was an announcement by China that it would approve the imports of five new varieties of genetically modified crops, a decision for which US farmers and businesses had waited years.

It's the latest recent move by China to try to address the Trump administration's complaints.

Uncertainty over whether the two sides can build on the ceasefire agreed by Trump and Xi fueled volatile trading in global markets in recent weeks.

Stock markets were roiled last week after Apple (APPL) warned it will badly miss its quarterly sales forecast because of weaker growth in China amid the trade war.

But stocks have rebounded this week on hopes the talks between the two governments will eventually bring an end to hostilities. On Tuesday, Hong Kong's Hang Seng index rose more than 2% and Japan's Nikkei more than 1%.

West Lafayette
Clear
86° wxIcon
Hi: 87° Lo: 71°
Feels Like: 92°
Kokomo
Clear
84° wxIcon
Hi: 87° Lo: 68°
Feels Like: 90°
Rensselaer
Scattered Clouds
82° wxIcon
Hi: 86° Lo: 68°
Feels Like: 87°
Fowler
Scattered Clouds
82° wxIcon
Hi: 83° Lo: 69°
Feels Like: 87°
Williamsport
Clear
83° wxIcon
Hi: 85° Lo: 70°
Feels Like: 88°
Crawfordsville
Clear
80° wxIcon
Hi: 84° Lo: 70°
Feels Like: 82°
Frankfort
Clear
82° wxIcon
Hi: 85° Lo: 69°
Feels Like: 85°
Delphi
Clear
84° wxIcon
Hi: 88° Lo: 69°
Feels Like: 87°
Monticello
Clear
84° wxIcon
Hi: 89° Lo: 68°
Feels Like: 87°
Logansport
Broken Clouds
82° wxIcon
Hi: 85° Lo: 68°
Feels Like: 86°
Active Pattern Ahead
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 73287

Reported Deaths: 3036
CountyConfirmedDeaths
Marion15701725
Lake7496275
Elkhart480184
Allen3835163
St. Joseph342381
Hamilton2723104
Vanderburgh192213
Hendricks1871108
Cass17869
Johnson1741118
Porter129439
Clark120247
Tippecanoe118911
Madison94365
LaPorte89430
Howard88465
Kosciusko84712
Bartholomew78047
Marshall77422
Floyd77246
Monroe74630
Delaware71452
Dubois68712
Boone67246
Noble66329
Hancock64738
Vigo61910
Jackson5855
Warrick57930
LaGrange55710
Shelby54627
Grant52630
Dearborn49628
Morgan46734
Clinton4303
Henry37620
Wayne36810
White36110
Montgomery35221
Lawrence34227
Decatur33532
Harrison32723
Putnam2868
Miami2692
Scott26610
Daviess26420
Greene24634
Franklin24114
Jasper2342
DeKalb2304
Jennings22412
Gibson2214
Steuben2073
Ripley1997
Fayette1867
Carroll1852
Perry18412
Starke1777
Posey1700
Orange16924
Wabash1653
Fulton1642
Wells1622
Jefferson1602
Knox1510
Whitley1516
Washington1391
Tipton1379
Spencer1313
Huntington1223
Newton11810
Randolph1184
Clay1165
Sullivan1131
Adams962
Jay910
Owen871
Pulaski791
Rush764
Brown731
Fountain732
Blackford632
Ohio635
Benton610
Pike530
Parke511
Vermillion490
Switzerland460
Crawford440
Martin430
Union390
Warren221
Unassigned0202

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events