China and the United States laid the foundation for trade issues.

China and the United States laid the foundation for resolving trade issues of mutual concern, the PRC Ministry of Commerce said in a report on the results of bilateral trade consultations in Beijing. 

“The parties conducted a detailed exchange of views on trade and structural issues of concern to both parties, increased the level of mutual understanding, laid the foundation for resolving issues of interest to both parties,” said the statement published on the agency’s website. 

It is noted that the parties agreed to maintain close contact. 

Bilateral talks between China and the United States at the level of Deputy Ministers for Trade and Economic Affairs started on Monday, they were scheduled for January 7-8, however, as noted by a number of media, citing US officials, continued on January 9. Earlier Tuesday, U.S. President Donald Trump wrote on Twitter that negotiations with China are “going very well”. 

The talks took place after the US and Chinese leaders agreed on a “truce” in the trade war on the sidelines of the G20 summit in Argentina in early December. Chinese President XI Jinping promised to correct the situation with the trade imbalance and begin to buy significant amounts of agricultural and other goods from the United States. 

Us President Donald Trump has agreed from January 1 not to raise from 10% to 25% duty on goods from China imports of $ 200 billion a year, if the parties will be able within 90 days to agree on a certain range of issues.

Tom Tompson

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