US, Chinese negotiators hold ‘productive’ trade talks

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Top US and Chinese trade negotiators held productive talks in Beijing on Wednesday, the American side said, as the economic superpowers head towards an endgame in a dispute that has hit businesses with bruising tariffs.

Chinese Vice Premier Liu He, a close aide to President Xi Jinping on economic matters, met with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin ahead of possibly decisive talks in the US next week.

“Ambassador Lighthizer and I just concluded productive meetings with China’s Vice Premier Liu He. We will continue our talks in Washington, DC next week,” Mnuchin wrote on Twitter. Liu and the Americans exchanged pleasantries before and after the behind-closed-door talks, joking about wearing the same colour red ties. The Chinese vice premier gave US Ambassador Terry Branstad a blue album with the Chinese state crest on it.– Deal or no deal –Mnuchin said earlier this week that the negotiations were in a decisive phase, telling the Fox Business channel “there’s a strong desire from both sides to see if we can wrap this up or move on”.

Beijing has made public displays of concessions, with Xi last week saying China would abolish “unjustified regulations, subsidies and practices that impede fair competition and distort the market”.

 

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