US, China extend talks on trade battle for 3rd day

January 9, 2019 10:25 AM


BEIJING, Jan 9: U.S. and Chinese envoys extended trade talks into a third day Wednesday, as President Donald Trump said negotiations aimed at ending a tariff war were “going very well!”

The two governments have announced no details, but Asian stock markets rose on news the negotiations that originally were planned for two days were extended.

The two sides are meeting face-to-face for the first time since Trump and his Chinese counterpart Xi Jinping agreed on Dec. 1 to suspend further punitive action against each other’s imports for 90 days while they negotiate over the fight sparked by American complaints Beijing steals or pressures companies to hand over technology.

“Talks with China are going very well!” Trump said late Tuesday on Twitter.

Washington is pressing Beijing for changes including rolling back plans for government-led creation of Chinese global champions in robotics and other fields. Europe, Japan and other trading partners echo Washington’s complaints that those violate Beijing’s market-opening obligations.

Chinese officials have suggested Beijing might alter its industrial plans but they have rejected pressure to abandon their blueprint for greater prosperity and global influence. They have tried to defuse pressure for more sweeping change by offering concessions including purchasing more American soybeans, natural gas and other exports.

An official Chinese newspaper warned Washington not to demand too much.

China is strong and has its own needs, said the Global Times, published by the ruling Communist Party. Washington “cannot push China too far” and must avoid a situation that “spins out of control.”

 


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