All smiles as US-China trade talks end with hope of limited deal

WASHINGTON: Top US and Chinese negotiators wrapped up a first day of trade talks in more than two months on Thursday as business groups expressed optimism the two sides might be able to ease a 15-month trade war and delay a US tariff hike scheduled for next week.

Negotiators could agree to low-level “early harvest” agreements on issues such as currencies and copyright protections, despite increased irritants between the world’s two largest economies, a US Chamber of Commerce official briefed by both sides said earlier on Thursday. Trump launched the trade war against China with demands for sweeping structural reforms, but Beijing has indicated it is not willing to fundamentally change the way it controls China’s economy.

Steady escalations of the tit-for-tat tariffs on Chinese and US goods in recent months have roiled financial markets and stoked fears of a global recession. But Chinese officials indicated more willingness to negotiate and avoid further escalation, according to Chinese state media reports. The USDA also reported record-large sales of pork, including 18,810 tonnes for shipment this year and 123,362 tonnes for shipment in 2020.The two sides have been at loggerheads over US demands that China improve protections of American intellectual property, end cyber theft and the forced transfer of technology to Chinese firms, curb industrial subsidies and increase US companies’ access to largely closed Chinese markets.

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