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China pledges to purchase more US goods

January 9, 2019 4:28 PM
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China pledges to purchase more US goods

Mubasher: China pledged to buy “a substantial amount” of agricultural, energy and manufactured goods and services from the US, the US Trade Representative’s office said on Wednesday.

Both China and the US discussed “ways to achieve fairness, reciprocity and balance in trade relations,” the US Trade Representative said in a statement that provided a few details on the specifics of the latest talks which wrapped up on Wednesday.

Officials from both sides also addressed issues related to intellectual property protections and the necessity of an agreement that resolve sticking points in trade between the world’s two largest economies “to for complete implementation subject to ongoing verification and effective enforcement,” the statement said.

The talks in Beijing this week were the first face-to-face meetings since US President Donald Trump and his Chinese counterpart Xi Jinping agreed in late December 2018 to a 90-day ceasefire in a trade war that buffeted global financial markets.

In the event of reaching no deal by 2 March, President Trump said he would carry forward with raising tariffs to 25% from 10% on $200 billion worth of Chinese goods, at the time the Chinese economy endures a significant slowdown.


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