China, US There. To hold more trade talks than trump ratchets up the threat



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Beijing / Washington (Reuters) – China and the United States have agreed to hold more trade talks in Beijing, Vice Premier Liu said. There. President Donald Trump ordered his trade chief to begin the process of imposing tariffs on all reminded imports from China.

Chinese Vice Premier Liu He speaks to the US. There. Treasury Secretary Steven Munchin and Trade Representative Robert Lighthouse as he leaves trade talks in Washington, US. May 10, 2019. Reuters / Leah Milis

Liu had a measured optimism for achieving a deal, but said there were "principle of principle" that China would not back down.

The United States launches a tariff war with China on Friday through hiking levies worth $ 2 trillion worth of Chinese goods in the middle of the last few talks to save a trade. Trump issued orders for the tariff increase, said China "broke the deal" by reneging on commitments made earlier in months of negotiations.

"Negotiations have not broken down," Liu, China's chief negotiator, said, according to state television.

"Quite the contrary, I think small setbacks are normal and blame during the negotiations of both countries. Looking forward, we are still optimistic," Liu said.

China strongly against the last US There. Tariff hike, and as a nation, had to respond to that, Liu told a small group of Chinese reporters in the video clip.

"Right now, both sides have achieved mutual understanding in many things, but frankly speaking, there are differences too. We think these differences are significant issues of principle," Liu said. "We cannot make concessions on such problems."

He told the editors that he would continue to work in Beijing, but he did not have the details.

But underwriting a lack of progress in the talks, Trump ordered a further escalation of tariffs.

Tramp's move would be worth $ 300 million worth of Chinese imports to rigid tariffs. There. Trade representative Robert Lighther said in a statement.

Lighthouse said a final decision was not made on the new duties that would come on an early Friday tariff rate increase of up to 25% by 10%, from $ 200 million worth of Chinese imports.

CHINA DETAILS Differences

Three differences remain between the two countries, according to China's latest talks.

One of them is over tariffs, Liu said, according to a transcription of the Q&A from Phoenix, a Hong Kong-based television station that is close to Beijing. China believes that tariffs are the genesis of the deal dispute, and that if both sides wanted to reach agreement, then all tariffs must be eliminated, Liu said.

The second is about procurement, on which an initial consensus was reached among the leaders of the two countries in Argentina late last year. The two sides now have a different look at the volumes, Liu said. The third is over how balanced the text of the draft agreement should be, he said.

"Each nation has its dignity, so the text needs to be balanced," Liu said.

Sources told Reuters this week that China has abolished its commitments in the draft agreement that said it would change laws to keep heart claims from the United States. There. Intellectual property and trade secrets; Forced technology transfers; Competition policy; Access to financial services; And currency manipulation.

Liu denied the accusations of China's renegade on promises, China said it was normal to make changes before a final trade. Both sides have different views on how to phrase it, he said.

Liu had hoped the issue would be resolved, so it was unnecessary to "over-react" to that point.

Similar to Liu, Chinese state media said China would not give in to its heart interests.

"China clearly demanded that trade procurement figures should be realistic; the text should be balanced and expressed in terms that are acceptable to Chinese people and do not cause the sovereignty and dignity of the country," the official People's Daily Communist Communist Required in a commentary on Saturday.

Trade war is waging on Chinese economy.

When asked about domestic concerns about how recent tariffs could continue to print the economy, Liu said he was optimistic about China's long-term economy, adding that it was in an up-cycle after-bidding event last year .

He said Chinese economy would maintain a stable and healthy trend despite some downward pressure, and that China had enough space for fiscal and monetary policy maneuvers.

On Monday, after a trump, he intended to raise tariffs, the Chinese central bank cut back on reserves that some small and medium-sized banks need to keep, freeing money for cash-strapped firms.

Reporting by Yaven Chen and David Ladder; After Reporting by Ryan Wu in Beijing; Written by Ben Blanchard; Editing by Rosalba O & # 39; Brien and Leslie Adler

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