US-China trade talks 'going well': Trump
January 31, 2019
Trade talks between the US and China have been characterized by "good intent and spirit on both sides," President Donald Trump said on Thursday.
The president seemed optimistic the two-day meeting would help de-escalate the trade dispute between the two countries.
"China's representatives and I are trying to do a complete deal, leaving nothing unresolved on the table," he wrote.
He stressed, however, that no decision would be made until he met his counterpart President Xi "to discuss and agree on some of the long-standing and more difficult points."
High-ranking officials from both countries began talks on Wednesday in Washington, DC, in an effort to defuse an ongoing trade war.
A 90-day truce in the trade war was declared in December and is set to expire in a month, after which US tariffs on $200 billion (€175 billion) of Chinese imports would more than double, something that economists say could have a negative impact on the world economy.
The talks have taken place against the backdrop of Chinese telecom Huawei's prosecution by Washington, which has sparked outrage in China and threatened the negotiation process.
On Monday, the US Justice Department announced two indictments against Huawei, accusing the firm of stealing trade secrets, fraud and obstruction of justice. Company executive Meng Wanzhou, who was arrested in Canada in December, has also been accused of violating US sanctions on Iran.
But US officials don't believe that this will hinder the trade negotiations. "Let me be clear. Those are separate issues," Treasury Secretary Steve Mnuchin told US media ahead of the talks.
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US Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He will lead the trade meetings, joined by White House economic adviser Larry Kudlow and Mnuchin.
The dispute comes after US officials accused China of unfair trade practices, including the alleged theft of American intellectual property through hacking.
President Donald Trump has said he favors a healthy Chinese economy, but not at the expense of American business and know-how.
Federal Reserve Chairman Jerome Powell told reporters on Wednesday that prolonged trade talks with China could hurt the US economy by dampening business confidence.
"Uncertainty is not the friend of business," Powell said.
nn.jcg/ng (AFP, dpa, Reuters)