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Financial News: Considerable Differences Remain After U.S.-China Trade Tal

Considerable Differences Remain After U.S.-China Trade Talks

05/04/2018 - 10:05:00 (RTTNews)

(RTTNews) - Highly anticipated trade talks between the U.S. and China resulted in agreements on some issues, although China's state-run Xinhua news agency noted considerable differences still exist.

A report from Xinhua on Friday said both sides recognized the remaining differences and said continued hard work is required for more progress.

The report comes after two days of talks between the U.S. delegation led by Treasury Secretary Steven Mnuchin and top Chinese officials, including Vice Premier Liu He.

"The two sides agreed that a sound and stable China-U.S. trade relationship is crucial for both, and they are committed to resolving relevant economic and trade issues through dialogue and consultation," Xinhua said.

The talks included discussions of issues such as increasing U.S. exports to China, bilateral service trade, two-way investment, protection of intellectual property rights, and resolving tariff and non-tariff issues.

Xinhua said the two sides agreed to stay in close communication on relevant issues and establish a corresponding work mechanism.

The meetings in Beijing came after the U.S. and China engaged in tit-for-tat tariff announcements, raising concerns about a potential trade war.

In a post on Twitter ahead of the start of the talks, President Donald Trump said, "Our great financial team is in China trying to negotiate a level playing field on trade!"

"I look forward to being with President Xi in the not too distant future," he added. "We will always have a good (great) relationship!"

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