Little progress in Sino-US talks, concessions offered, but few details
SLOW progress - if any - has been made in last week's Sino-US trade talks in Beijing, reports Bloomberg
SLOW progress - if any - has been made in last week's Sino-US trade talks in Beijing, reports Bloomberg.
US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin have failed to secure concrete commitments to key structural reforms including the role of state enterprises and corporate governance, Reuters reported.
China has offered to end market-distorting subsidies to domestic companies, though details were lacking. In the proposal, China promised to reform all state subsidy programmes in line with WTO standards, about which US officials were sceptical.
'The vibe in Beijing is good,' said White House economic adviser Larry Kudlow, before adding that there were no plans to extend the March 1 deadline for a deal.