US NEGOTIATORS US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will resume trade talks in Beijing on Tuesday, the White House said, to work out a draft agreement by next month, reports Bloomberg
US NEGOTIATORS US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will resume trade talks in Beijing on Tuesday, the White House said, to work out a draft agreement by next month, reports Bloomberg. Talks starting next Tuesday 'will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases and enforcement,' the White House said in a statement. Chinese officials led by Vice Premier Liu He planned to then head to Washington for discussions starting on May 8.
The two sides are seeking to have a draft agreement by the end of May, a person familiar with the matter said, asking not be named discussing the private talks. Officials want to announce during Mr Liu's visit that they've agreed to a deal and details of a signing summit.
One mechanism being discussed, US officials have said, would require consultations between US and Chinese officials over disputes, but ultimately allow either side to impose trade sanctions unilaterally. The deal might also see both sides agree to forego their right to retaliate or challenge any enforcement action by the other at the World Trade Organisation (WTO).
'The cake is almost baked, so this should be the final back-and-forth. There is relatively little left to tie down substantively, and the optics look better for the Chinese if these visits look reciprocal,' said Leland Miller, chief executive officer of China Beige Book, an economics consulting firm.
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