Trade war: China says 'big differences' remain after talks with US

China says it made progress in trade talks with the United States but acknowledged that the two sides remain far apart on some issues.

By: Daniel Shane

After two days of talks in Beijing between top officials, the two sides have agreed to continue "close communication," according to a report by China's official news agency, Xinhua.

The two governments reached agreements in some areas, including increasing exports from the United States to China, Xinhua said, but it didn't give any details.

"Both sides realized that there are some relatively big differences on some issues. And more work needs to be done to achieve more progress," Xinhua said Friday.

The US Embassy in Beijing wasn't immediately available for comment on the outcome of the talks.

Fears of a damaging trade war between the world's top two economies have grown in recent months after the United States and China threatened to slap steep tariffs on tens of billions of dollars of each other's exports.

US moves against Chinese smartphone makers Huawei and ZTE, and Beijing's decision to tax American sorghum have ratcheted up the tensions.

"Irrespective of any short-term deal ... trade friction will be a permanent feature of the next few years," Richard Jerram, chief economist at the Bank of Singapore, said in a research note on Friday.

President Donald Trump has called for China to reduce its huge trade surplus with the United States by $100 billion, a demand experts say Beijing would find it difficult to meet.

The US government has also been pressing China to move away from an industrial policy that critics say subsidizes Chinese companies on the global stage and pressures foreign rivals to hand over key technologies.

Trump sent a delegation of his top economic advisers to Beijing for the talks, including Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer. They met with a Chinese team led by Liu He, President Xi Jinping's top economic adviser.

Analysts had expressed skepticism that two days of talks would lead to any significant breakthrough.

-- Nanlin Fang contributed to this report.

Panorama Hispano is the regional news and information newspaper for Hispanic and other diverse communities.

US Hispanics are now the largest ethnic minority in the United States numbering 54.2 million as of July 2014. Serving: Buffalo, Rochester, Fredonia, Niagara Falls, NY and Erie, PA. Outside our Market area: Visit our affiliate at: http://www.impremedia.com/

Contact us: Contact@PanoramaHispanoNews.com

Featured News

May 18, 2021
Los precios suben y se achica el valor del dólar para todos

Todo es un reflejo de lo que ocurre en Estado Unidos, pues “cuando Estados Unidos tiene catarro a nosotros nos da pulmonía”, dijo un economista El impacto de las millonarias partidas de estímulo económico concedidas por el gobierno federal a la ciudadanía y lo que se percibe como el comienzo de la normalización de la […]

Read More
May 18, 2021
GOP Leader McCarthy opposes Jan. 6 commission ahead of vote

By MARY CLARE JALONICK, ALAN FRAM and LISA MASCAR WASHINGTON (AP) — House Republican Leader Kevin McCarthy said Tuesday that he won’t support a proposal to form an independent, bipartisan commission to study the deadly Jan. 6 insurrection at the U.S. Capitol, almost certainly eroding GOP support ahead of a vote and positioning his party […]

Read More
May 18, 2021
EU vows to boost efforts to end Israeli-Palestinian fighting as US fails to act

By: Raf Casert BRUSSELS (AP) — The European Union will redouble its efforts to end the surge in violence between the Israeli military and Palestinian militants, and seek progress during a special meeting of its foreign ministers on Tuesday, as the US stands on the sidelines. The EU also called the weekend destruction of a […]

Read More

popular categories

Copyright © 2021 Panorama Hispano News. All Rights Reserved.
crossmenuchevron-downmenu-circlecross-circle
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram