China-U.S. trade talks restart as warship clouds negotiations

Clay Curtis
January 7, 2019

He said, "As for whether this move has any impact to the ongoing China-U.S. trade consultations.to properly resolve existing issues of all kinds between China and the U.S.is good for the two countries and the world".

A US Navy vessel, USS "McCampbell, ' has sailed past disputed islets of the South China Sea in a 'freedom of navigation" operation.

The statement comes as trade talks between China and the United States are underway in Beijing, the first round of face-to-face discussions since both sides agreed to a 90-day truce in a trade war that has roiled global markets.

China has made "stern representations" to the U.S. after an American destroyer sailed through waters claimed by Beijing in the disputed South China Sea.

US President Donald Trump is likely to hold talks with Chinese Vice President Wang Qishan (王岐山) at the World Economic Forum this month, the South China Morning Post reported on Saturday, citing a person familiar with the matter.

While the Federal Reserve Board chairman, Jerome Powell, may have calmed equity markets on Friday by saying the USA central bank would be patient and flexible in implementing United States monetary policy this year trade is the other big factor behind the implosion of equity markets in the closing months of last year.

"We urge the USA to immediately stop such provocative actions", Chinese foreign ministry spokesman Lu Kang told a regular press briefing, adding that Beijing had lodged a diplomatic complaint with Washington.

The talks are crucial as the USA stock market continues to be volatile.

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The American side in the trade talks is being led by a deputy USA trade representative, Jeffrey D. Gerrish, according to the US government.

Last year, Washington imposed tariff increases of up to 25 percent on $250bn of Chinese imports over complaints Beijing steals or pressures companies to hand over technology. Beijing responded by imposing penalties on $110 billion of American goods, slowing customs clearance for US companies and suspending issuing licenses in finance and other businesses.

China has controlled the islands since seizing control of them from Vietnamese forces in 1974, but Vietnam and Taiwan still lay claim to them.

But cooling economic growth in both countries is raising pressure to reach a settlement. Weak real estate sales are forcing developers to cut prices.

China has said it could consider a deal that involves increasing its purchases of United States goods.

For their part, Chinese officials are unhappy with US curbs on exports of "dual use" technology with possible military applications.

Chinese officials have said new measures will combat intellectual property theft, indicating that Beijing may make major changes to its "Made in China 2025" initiative, which calls for state-led creation of champions in robotics, artificial intelligence and other fields. -Chinese relations. They say Beijing's goal probably is to show enough progress to persuade Trump to extend his deadline.

The trade war has damaged both economies over the past year.

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