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Thursday, 28 March 2024
Monday, 09 Dec 2019 03:00 pm

Beijing Hopes of Reaching a Trade Agreement with the United States Satisfying Both Sides

“On the question of China-U.S. trade talks and negotiations, we wish that both sides can, on the foundation of equality and mutual respect, push forward negotiations, and in consideration of each others’ core interests, reach an agreement that satisfies all sides as soon as possible,” Ren said.

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China said on Monday that it hoped to make a trade deal with the United States as soon as possible, amid intense discussions before fresh U.S. tariffs on Chinese imports are due to kick in at the end of the week.

Beijing hopes it can reach a trade agreement with the United States that satisfies both sides, Assistant Commerce Minister Ren Hongbin told reporters on Monday.

“On the question of China-U.S. trade talks and negotiations, we wish that both sides can, on the foundation of equality and mutual respect, push forward negotiations, and in consideration of each others’ core interests, reach an agreement that satisfies all sides as soon as possible,” Ren said.

China and the United States are negotiating a so-called “phase one” deal aimed at de-escalating their prolonged trade dispute, but it is unclear whether such an agreement can be reached in the near term.

Washington’s next round of tariffs against Chinese goods are scheduled to take effect on Dec. 15.

China has demanded that some of the existing U.S. tariffs imposed on about $375 billion worth of its exports be removed, in addition to cancellation of the Dec. 15 tariffs on some $156 billion of its remaining exports to the United States.

U.S. President Donald Trump has demanded that China commit to specific minimum purchases of U.S. agricultural products, among other concessions on intellectual property rights, currency and access to China’s financial services markets.

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Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


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