44Trump Plans to Meet With Trade Delegation to China on Saturday

George McgeeMay 05, 2018

During the two days of negotiations, USA officials unveiled a sweeping list of demands, including that China reduce its trade deficit with the U.S.by $200 billion over the next two years.

Officials from the United States are on their way back home from China, and it seems they made some progress in crisis talks to avoid a trade war.

The demands also include that China stop subsidizing key industries.

US President Donald Trump has threatened to levy new tariffs on $150 billion of Chinese imports while Beijing shot back with a list of $50 billion in targeted US goods.

In a tweet, Trump offered little in the way of details of the talks, but insisted that Beijing had "become very spoiled with USA trade wins".

China's Commerce Ministry did not mention the US demands in a comment about the talks Friday. The agency said both sides had agreed to establish a "working mechanism" to continue talks.

"Our high level delegation is on the way back from China where they had long meetings with Chinese leaders and business representatives", Trump wrote in a tweet.

China objected strongly when the US last month banned American companies from selling technology to ZTE for seven years, calling that unfair. Beijing, in turn, announced its own penalties on the U.S. The U.S. Commerce Department said employees involved were paid bonuses instead of being punished.

But despite the talks, there are still some big disagreements. It said officials had focused on ways to rebalance US-Chinese economic ties after Washington accused Beijing of intellectual property theft and forcing US firms to transfer technology.

It added that they had reached "a consensus in some areas", without elaborating.

Earlier Friday, U.S. Treasury Secretary Steven Mnuchin sounded a positive note about talks aimed at easing tensions that have taken the countries close to a trade war.

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