U.S. says China has pledged to buy USA as tough issues remain

U.S. says China has pledged to buy USA as tough issues remain

U.S. says China has pledged to buy USA as tough issues remain

China and the United States "conducted extensive, in-depth and meticulous exchanges. which enhanced mutual understanding and laid the foundation for resolving issues of mutual concern", the Chinese commerce ministry said in a statement.

China says the talks established a basis for resolving the concerns of both sides.

Uncertainty over the outcome of China-U.S. trade talks cast a pall Thursday over Asian markets as both sides kept mum about what lies ahead.

Prior to the meeting, China made a number of concessions to USA demands including temporarily cutting punitive tariffs on US -made cars, resuming soybean purchases, promising to open up its markets for more foreign investment, and drafting a law to prevent forced technology transfers.

United States and Chinese officials extended trade war talks into a third day on Wednesday, with a member of the American delegation saying negotiations "went just fine".

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With seven weeks to go until a deadline that could see the USA ramp up tariffs on Chinese goods once again, the economic damage wrought by the months-long trade war is becoming clearer even as a pathway to a lasting resolution remains muddied.

The negotiations were extended from the two days initially scheduled, according to the Chinese.

Trump and Xi have given their officials until March 1 to reach an accord on "structural changes" to China's economy on issues such as the forced transfer of American technology, intellectual-property rights, and non-tariff barriers.

The US smartphone maker has felt the pinch of the bruising trade spat, and warned that 2018 revenues would miss its forecast - in large part due to a slump in iPhone sales in China. The council and other USA business groups have pressed for a resolution to the trade hostilities between the world's two biggest economies.

The mid-level talks were the first face-to-face meeting between the two sides since their leaders met on 1 December 2018.

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Speaking at a briefing on Monday, China Foreign Ministry spokesperson Lu Kang shared hopes of reaching an agreement: "From the beginning, we have believed that China-U.S. trade friction is not a positive situation for either country or the world economy". Liu made a brief appearance at the talks in Beijing on Monday, boosting optimism that China was serious about making progress on a deal.

Almost halfway into the 90-day truce, there have been few concrete details on progress made so far. "And China going forward will likely still want to increase the diversification of its sources of supply even for agricultural commodities". If a "REAL" deal with China is possible, the US will "get it done", Trump tweeted shortly after his dinner with Jinping last month.

A reduction in Chinese imports of US goods came quickly after the retaliatory imposition of tariffs, the data show.

On Wednesday, the US Trade Representative's offices said in a statement officials from the two sides discussed "ways to achieve fairness, reciprocity and balance in trade relations".

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