Disagreements in China-US trade negotiations
Chinese Vice Premier Liu He has revealed what Beijing sees as three major disagreements that have prevented the US and China from reaching an agreement, and said the two sides will continue to hold negotiations.
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| Chinese Vice Premier Liu He and US Trade Representative Robert Lighthizer. Photo: Reuters. |
According to AFP, speaking to reporters on May 10 (US time), Chinese Vice Premier Liu He provided details for the first time about the current disagreements in US-China trade negotiations after a two-day round of negotiations with the US side in Washington.
"We have reached consensus on many issues. However, frankly speaking, there are still issues where we have different views," Mr. Liu admitted.
First, according to China’s chief negotiator, Beijing believes that all punitive tariffs must be removed if the two sides reach a deal. Liu’s information suggests that this point of disagreement may be under discussion.
Second, Chinese President Xi Jinping and US President Donald Trump agreed to a preliminary figure on Beijing’s purchases of US goods (to reduce the trade deficit) when the two leaders announced a trade war truce in Argentina late last year.
"So what is the final figure? Both sides have different views and we think this is a very serious issue that cannot be resolved easily," said Mr. Liu.
Third, Mr. Liu emphasized that the contents stated in the agreement must be "balanced" between the two sides because "any country needs its own self-respect".
"We believe these are fundamental factors and every country has important principles. We will not make concessions on such fundamental issues," the 67-year-old Chinese vice premier stressed.
Regarding the US accusation that "Beijing reneged on its commitments", Mr. Liu shared: "We believe that before reaching an agreement, any changes are natural and inevitable in the whole process (of negotiations). We do not think China has reneged."
The US is currently imposing a new 25% tariff on $200 billion worth of Chinese goods. US President Donald Trump has directed US officials to begin the process of raising tariffs on an additional $300 billion worth of goods - effectively raising tariffs on nearly all Chinese goods exported to the US.
